BlackRock acquires FutureAdvisor

Financial services start-up FutureAdvisor has announced having signed a definitive agreement to be acquired by BlackRock.

Launched in 2010 and headquartered in San Francisco, FutureAdvisor aims to help clients managing long term investment goals through robo-advisers.

“There will be no change in the mission of the FutureAdvisor you trust today,” said the firm’s cofounder and chief executive Bo Lu in a blog post.

FutureAdvisor will keep its offices in San Francisco and will not exclusively buy BlackRock’s iShares, Lu said that the company will “remain unbiased” in its recommendations to its clients and choose products “regardless of who provides” them.

Lu also highlighted that the resources provided by BlackRock to FutureAdvisor “will allow us to build out new features at an even faster clip, to continue to deliver on our promise of improving the financial lives of average Americans.”

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