BlackRock snaps up San Francisco robo-adviser startup

BlackRock said today that it will buy San Francisco-based FutureAdvisor for an undisclosed sum to help its bank-and-brokerage clients offer robo-advisory services. The deal, expected to close in the fourth quarter, reflects Wall Street’s established players buying their way into robo-advisory services that are popular with millennials and those with less than the $1 million minimum often required by traditional money managers. Northwestern Mutual bought New York-based LearnVest in March, also for…