BBVA Compass signs pact with BlackRock's robo-adviser

January 12, 2016 5:00 AM

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Jan 12 BBVA Compass, a unit of Spain's BBVA group, said it signed an agreement with BlackRock Inc's "robo-adviser", FutureAdvisor, to help expand its automated investment advisory services.

Robo-advisers use computer algorithms to pick a portfolio of exchange-traded funds and charge much lower management fees than traditional brokers do.

Also read: Tiger Management-backed hedge fund firm Tyrian Investments to close -source

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