An Exciting Announcement
Wednesday August 26, 2015 •
Five years ago FutureAdvisor set out to make high quality, comprehensive financial management available to all. Since then, thousands of clients have entrusted hundreds of millions of dollars to our care. We could not be more grateful to be working hand in hand with clients like you.
Today we announced that FutureAdvisor has signed a definitive agreement to be acquired by BlackRock, a global leader in investment and risk management.
The entire FutureAdvisor team and I are extraordinarily excited to bring BlackRock’s world-class institutional investment and risk management capabilities to bear in helping you reach your unique financial goals. BlackRock has dedicated enormous effort over the years to improving financial outcomes through its leading active and passive investment offerings as well as innovative retirement planning tools including their CoRI Retirement Indexes. We look forward to integrating and delivering this expertise both directly to clients such as you as we’ve done to date, as well as in partnership with financial institutions in the months to come.
There will be no change in the mission of the FutureAdvisor you trust today. Our brand, our culture, and our people will work to serve you and improve your digital experience every day just as we all did before the acquisition. We will keep our independent offices in the heart of San Francisco. The knowledgeable and caring staff you’ve interacted with to date will remain, and become more numerous with time.
There will be no change in the mission of the FutureAdvisor you trust today. Our brand, our culture, and our people will work to serve you and improve your digital experience every day just as we all did before the acquisition.
In managing your portfolio, we also will continue to draw on the best products to meet your needs, regardless of which fund family provides them. For years, we have used BlackRock’s iShares ETFs together with products from other fund families. We will continue to have an open platform that uses products from a range of providers. As always, we will
make the best choices for you, our clients, in our role as a fiduciary of your assets.
We have outlined the answers to a few common questions below. If you have any questions please don’t hesitate to reach out to us directly; the entire FutureAdvisor team and I stand by to answer any questions you may have. Feel free to contact us via any of the normal channels, as well as the special email address we’ve set up for acquisition-related questions at email@example.com.
I personally want to thank you for your continued faith in us, and look forward to working together with you in the years to come.
Does this change anything about my FutureAdvisor accounts/relationship?
Absolutely not. Our relationship with you remains exactly the same, and your accounts remain with your existing custodian and stay in your name.
Will my fees change? Will my accounts move?
Not at all. Management fees are remaining the same, and accounts will remain with your existing custodian.
Will you only buy iShares for client portfolios or will you continue to use products from a variety of providers?
As a fiduciary, we will remain unbiased in our recommendations to you, and choose products based on what is best for you, regardless of who provides the products.
Why did you merge with Blackrock?
We were excited to join a team which has dedicated such an enormous effort over the years to improving financial outcomes for investors. The resources they provide us with will allow us to build out new features at an even faster clip, to continue to deliver on our promise of improving the financial lives of average Americans.
Will there be any new pros or cons as a client?
There will be absolutely no changes to you as a client, or your experience with us. You can continue to reach out to us with any questions or concerns you have with your portfolio, or anything else.
Will I have to call Blackrock now instead of FutureAdvisor?
Not at all. You can and should continue to reach out to FutureAdvisor with any questions or concerns.