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Fidelity gives BlackRock early leg up in e-advice business

Boston-based Fidelity invested in FutureAdvisor during a US$15.5-million funding round in May 2014.


FIDELITY Investments unintentionally boosted BlackRock's prospects as a robo adviser with a small investment in a start-up company that BlackRock bought last year for an estimated US$150 million.

BlackRock and Fidelity are only in the early stages of what is shaping up as a...