MINNEAPOLIS--(BUSINESS WIRE)--U.S. Bank Wealth Management announced today an agreement with FutureAdvisor to offer automated investing capabilities to clients of its affiliate U.S. Bancorp Investments. FutureAdvisor is an investment advisory firm owned by BlackRock that offers a digital advice platform to enable financial institutions to more effectively serve their clients. The service is expected to be available to U.S. Bancorp Investments clients in 2017.
“U.S. 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 are thrilled to be launching a new strategic partnership with FutureAdvisor to create an automated investing option that we believe will be highly valued by those who are in the process of growing as investors. They will now be able to do so with greater confidence as a result of working with us,” said Mark Jordahl, president of U.S. Bank Wealth Management. “Moving forward we believe this automated investing offering will complement the work of U.S. Bancorp Investments advisors as they provide goals-based planning to clients.”
The automated investing platform will consist of a hybrid offering that will bring together the efficiencies of FutureAdvisor’s technology with the support of a dedicated team of financial consultants. The investment portfolios will be designed by U.S. Bancorp Investments, using its investment intellectual capital, and will consist of cost-effective funds specifically designed to help clients work toward their goals. This automated investment service will be accessible for U.S. Bancorp Investments accounts enrolled at usbank.com and the U.S. Bank mobile banking app, allowing users to easily track progress against their goals.
“Planning and investing for your future doesn’t have to be intimidating. Our intuitive, easy-to-use offering will help make the experience simpler and build the confidence of our clients by enabling them to track their progress against their goals anytime, anywhere,” Jordahl added.
“FutureAdvisor is proud to partner with U.S. Bank Wealth Management to provide a potentially more affordable, efficient solution for its advisor community to work with investors who increasingly expect to engage with technology to gain insights on their investment portfolios. Digital advice is here to stay and will play a larger role as the combination of digital and human advice, packaged appropriately together, continues to improve outcomes for both financial advisors and their clients,” said Bo Lu, co-founder and CEO of FutureAdvisor.
About FutureAdvisor
FutureAdvisor is an award-winning
digital advisory firm based in San Francisco serving clients nationwide.
With a focus on collaborating with major financial institutions,
FutureAdvisor's technology helps firms provide financial advice
digitally to their customers. Their software actively monitors and
manages clients existing 401(k)s, IRAs and taxable accounts from a
household-wide, long-term perspective. FutureAdvisor was awarded the
World Economic Forum's Technology Pioneer award in 2015, and Euromoney's
Best American Wealth Management Innovator award in 2014. They were
acquired by BlackRock in October 2015 as part of BlackRock Solutions,®
which offers risk management, advisory and enterprise investment system
services to a broad base of institutional investors.
About U.S. Bank Wealth Management
U.S. Bank Wealth
Management, ranked in the top 20 wealth management firms,* offers
comprehensive wealth management services. Ascent Private Capital
Management (ascent.usbank.com)
serves families of significant wealth. The Private Client Reserve (reserve.usbank.com)
serves high-net-worth individuals and families, and The Private Client
Group (www.usbank.com/wealth-management)
serves affluent individuals and families. U.S. Bancorp Investments,
Inc., a registered broker-dealer and non-bank affiliate of U.S. Bank,
offers investment and insurance products and services across U.S. Bank
Wealth Management.
About U.S. Bank
Minneapolis-based U.S. Bancorp (NYSE: USB),
with $438 billion in assets as of June 30, 2016, is the parent company
of U.S. Bank National Association, the fifth largest commercial bank
in the United States. The Company operates 3,122 banking offices in 25
states and 4,923 ATMs and provides a comprehensive line of banking,
investment, mortgage, trust and payment services products to consumers,
businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.
* Barron’s "Top 40 Wealth Management Firms,” Sept. 26, 2015, ranked by client assets in accounts of $5 million or more as of March 31, 2015.
|
Investment products are: |
||||||
| Not a Deposit | Not FDIC Insured | Not Guaranteed by the Bank | ||||
| May Lose Value | Not Insured by Any Federal Government Agency | |||||
For U.S. Bank:
Deposit products offered by U.S. Bank
National Association. Member FDIC. Credit products offered by U.S. Bank
National Association and subject to normal credit approval.
U.S. Bank and its representatives do not provide tax or legal advice. Each individual's tax and financial situation is unique. Individuals should consult their tax and/or legal advisor for advice and information concerning their particular situation.
U.S. Bank is not responsible for and does not guarantee the products, services or performance of U.S. Bancorp Investments.
U.S. Bank is not affiliated with FutureAdvisor.
For U.S. Bancorp Investments:
Investment products and
services are available through U.S. Bancorp Investments, the marketing
name for U.S. Bancorp Investments, Inc., member FINRA and SIPC, an
investment advisor and a brokerage subsidiary of U.S. Bancorp and
affiliate of U.S. Bank. Insurance products are available through various
affiliated non-bank insurance agencies, which are U.S. Bancorp
subsidiaries and affiliates of U.S. Bank. Products may not be available
in all states. CA Insurance License# OE24641. Policies are underwritten
by unaffiliated insurance companies and may not be available in all
states.