![]() Trading flat rate: trade as much as you want for 4.99 per month. Easy and convenient trading at low costs and with high security standards. regulators, up from $232 million and 3,460 accounts around when the BlackRock deal was announced in 2015. Invest in stocks, ETFs, derivatives and more. Since then, FutureAdvisor has put more emphasis on licensing its service to big wealth management companies to offer through their own advisers, typically to lower-tier clients who they might otherwise not retain.īlackRock is keen to win more market share with those wealth management firms, which are already a primary distributor of its funds to the general public.įutureAdvisor disclosed having $969 million in assets under management and 13,751 accounts in a February filing with U.S. It also follows the purchase in 2015 of U.S.-based robo-adviser FutureAdvisor which, like Scalable, uses exchange-traded funds to build portfolios for clients and began serving retail customers. It also has a B2B arm that partners with banks to develop their. The deal for Scalable comes several months after BlackRock Chief Executive Officer Larry Fink told Reuters he was considering up to four small acquisitions to shore up its technology and investment expertise. Scalable Capital offers consumers neobroker and robo-advisory services across 6,000 shares and 2,000 funds, plus crypto trading. “This trend is prompting strong demand from European financial institutions – including banks, insurers, wealth managers and advisory firms – for high-quality technology-enabled investment solutions,” Olsen said. Patrick Olson, BlackRock’s chief operating officer for Europe, the Middle East and Africa, and who will join Scalable’s supervisory board, said the decision to invest came as investors increasingly wanted to access their holdings using technology. The expansion of BlackRock’s digital efforts comes as fund and wealth managers globally look to overhaul their distribution models amid tougher regulation, pressure on fees and the changing investment needs of a younger generation. The funding will help Scalable expand its robo-advice business - which uses low-cost exchange-based funds and online distribution - with financial institutions and corporates to help grow assets past the 250 million euros raised in the 16 months since launch from more than 6,000 retail clients. REUTERS/Brendan McDermid/File PhotoīlackRock, which manages $5.4 trillion across a range of actively managed and index-tracking funds, led a 30 million euro ($33.6 million) funding round for Scalable alongside its two existing German venture capital backers, a joint statement said. ![]() FILE PHOTO: The BlackRock logo is seen outside of its offices in New York City, U.S., October 17, 2016. Scalable Capital ndert das monatliche Premium-Modell: ab Februar 2,3 p.a.
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