U.S. Bank Wealth Management Announces Partnership with FutureAdvisor to Offer Automated Investing Capabilities to Clients
August 24 2016 - 11:33AM
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.
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“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 FutureAdvisorFutureAdvisor 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 ManagementU.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. BankMinneapolis-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.
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For U.S. Bank Wealth ManagementMichael Walsh, vice president of
public relations, 612-303-9122michael.walsh@usbank.com
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