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BlackRock acquires FutureAdvisor
- nickpsecurity 11y agoBlackRock is interesting in that they're very forward-looking and conservative at the same time. One of the first to use an AI-like system to support management of huge assets. Also one of the elite firms of the country in terms of just how much capital they manage. http://www.economist.com/news/briefing/21591164-getting-15-trillion-assets-single-risk-management-system-huge-achievement http://www.economist.com/news/briefing/21591164-getting-15-t... Will be interesting to see what happens to FutureAdvisor.
- blueyes 11y agoFormer FA employee here: They're a great company. Grew about 45x while I was with them. They use BlackRock funds, so BR saw the growth. A pretty good ending for 5 years work. The Financial Times is reporting they sold for $150M-$200M.
- devy 11y agoSo I am curious why you left? :)
- toomuchtodo 11y agoI was an extremely early beta user of Future Advisor (I had reached out to Bo from an HN post), and I wasn't impressed after a long experience with them. It was a terrible process having my retirement accounts moved from fiduciary to fiduciary, having problems getting additional retirement contributions into the accounts, etc. I ended up moving to Betterment.