Big brokers started to buy robo advisors before they become really big. That's good news as this will help independent ones to raise more capital as exit prospects became clear for VC investors.
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BlackRock, the world's largest fund manager, has acquired FutureAdvisor, a "robo-adviser" crafting automated portfolios for investors, in a deal that underscores how quickly the industry believes technology could reshape the market for financial advice.
Under the deal, which values FutureAdvisor at between $150 million and $200 million, the company will become part of BlackRock Solutions and its products will be sold to brokers and financial advisers, who in turn can offer them to their clients.
http://www.cnbc.com/2015/08/26/blackrock-buys-robo-adviser-futureadvisor-to-woo-millennial-clients.html
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