US Bank Wealth Management teams with FutureAdvisor for automated investing
US Bank Wealth Management is partnering with FutureAdvisor to offer automated investing capabilities to clients of its affiliate US Bancorp Investments.
FutureAdvisor, an investment advisory firm owned by BlackRock, expects the service to be available to US Bancorp Investments clients in 2017.
Mark Jordahl, president of US Bank Wealth Management, says: “Moving forward we believe this automated investing offering will complement the work of US Bancorp Investments advisors as they provide goals-based planning to clients.”
The platform combines FutureAdvisor’s technology with the support of a team of financial consultants. The investment portfolios will be designed by US Bancorp Investments, using its “investment intellectual capital”.
The service will be accessible for US Bancorp Investments accounts enrolled at usbank.com and the US Bank mobile banking app.
FutureAdvisor is based in San Francisco and was acquired by BlackRock in October 2015 as part of BlackRock Solutions. The latter offers risk management, advisory and enterprise investment system services to institutional investors.
Minneapolis-based US Bancorp, with $438 billion in assets as of 30 June 2016, is the parent company of US Bank National Association, the fifth largest commercial bank in the US. The company operates 3,122 banking offices in 25 states and 4,923 ATMs and provides banking, investment, mortgage, trust and payment services.