The US arm of investment manager BlackRock has bought an automated adviser through which it plans to reach out to the "mass affluent".
FutureAdvisor will operate as a business within BlackRock's technology and risk business BlackRock Solutions (BRS) where it will be available to clients such as banks and advisers to offer to their clients. The service, which was founded in San Francisco in 2010, will give clients "holistic"personalised advice on their investment accounts and pensions and manage taxes accrued in their portfolios. It will link to BlackRock's multi-asset model portfolios and investment products but will also be able to recommend other products. BlackRock launches trio of target-date funds The idea ...
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