Scalable Capital agrees deal with BlackRock
Germany’s largest robo-advisor Scalable Capital has added BlackRock’s UK-based staff to its list of clients, having agreed a partnership that gives them easy access to its wealth management service.
The agreement comes shortly after BlackRock bought a minority stake in Scalable earlier this year, as part of a £26 million funding round.
“When it comes to digital innovations, BlackRock acts exceptionally quickly and decisively,” said Adam French, CEO of Scalable Capital.
“We are very pleased that BlackRock embraces the benefits of digital investment management and that we are given the opportunity to help their UK workforce manage their personal investments using our sophisticated methodology.”
Patrick Olson, BlackRock’s Deputy COO and Scalable board member said: “The quality of Scalable Capital’s technology combined with the simplicity and ease of use make this a valuable proposition to BlackRock employees.”
Scalable made waves last month when it signed with ING’s German subsidiary, offering its cheap online wealth management service to ING clients.
This article first appeared on www.roboadvicenews.com
