FYI: Fidelity Investments unintentionally boosted BlackRock Inc's prospects as a robo adviser with a small investment in a start-up company that BlackRock bought last year for an estimated $150 million.
BlackRock and Fidelity are only in the early stages of what is shaping up as a battle royale to become the go-to provider of cheap automated financial advice over the Internet.
The stakes are huge. Morgan Stanley analysts describe how robo advising is an emerging force to provide affordable advice in a $22 trillion wealth pool that features $5,000 accounts and ones with as much as $5 million.
Regards,
Ted
http://www.reuters.com/article/us-fidelity-blackrock-robo-idUSKBN1452BN
