US Bank, a commercial banking provider, has launched a strategic partnership with BlackRock-owned FutureAdvisor, becoming the latest group to team up with an automated investment platform, according to a US Bank statement.
FutureAdvisor is a digital investment manager registered with the US’ Securities and Exchange Commission. Founded in 2010, the group is reported to have $600 million in assets under management, catering to a large clientele in the US. The new alliance with US Bank is the latest partnership between two seemingly differentiated companies, each looking to explore and leverage automated investing.
Symbiotic Relationship
The newly combined service between US Bank and FutureAdvisor will be targeting a 2017 launch date – more specifically, the offering will include a hybridized approach that melds FutureAdvisor’s technology and algorithms with US Bank’s human capital, i.e. a hand picked group of the bank’s wealth management unit.
In addition, the offering will target US clients and be accessible for US Bancorp Investments accounts. The service will also look to capture gains from an ongoing trend in the US that has seen an uptick in hybrid robo-human services, namely in regard to automated investing.
According to Mark Jordahl, president of US Bank Wealth Management, in a recent statement on the joint offering: “US Bank Wealth Management is committed to serving clients where they are today and will be in the future, and that includes embracing robust technology strategies. We believe this automated investing offering will complement the work of US Bancorp Investments advisors as they provide goals-based planning to clients.”
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