Under the deal, which values FutureAdvisor at between $150m and $200m, the company will become part of BlackRock Solutions and its products will be sold to brokers and financial advisers, who in turn can offer them to their clients. FutureAdvisor was founded by Microsoft colleagues Bo Lu and Jon Xu and developed at the Y Combinator start-up programme in San Francisco. Last year, it raised $15.5m at a reported $75m valuation; its venture capital backers include Sequoia and Canvas Venture Fund.

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