Articles tagged "BlackRock"
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RIABlitz: Vanguard technology • Pontera rebounds • Ex-HiddenLever's exec success • BlackRock rocked • Vivek's crypto • WF dunks SF? • Betterment dry option• Vestwell poached
The RIA firehose of news is rife with tactical moves to shore up voids, play catchup and react to a new concept of political tailwinds
January 11, 2025 at 3:01 AM
In game of chicken with the FDIC, feisty BlackRock refuses to join Vanguard's cave to passivity surrounding banks and forfeit Federal Reserve right to serve on bank boards
FDIC board member Rohit Chopra says existing Fed passivity compact with banks allows BlackRock et al to be 'anything but “passive”'
December 31, 2024 at 10:32 PM
SoFi simultaneously Blackrock-izes robo-advisor and imposes first fee in seven-year history
The San Francisco digital bank hit $1.3 billion of AUM and will levy 25 basis points as Blackrock gets a role in model portfilos, ETF management -- but SoFi retains final say
November 12, 2024 at 2:04 PM
Shirl Penney won J.P. Morgan and BlackRock backing the same day Hurricane Helene brought down his house and lifted his faith in friends, family and coworkers
The Dynasty Financial Partners CEO has evacuated from incoming Hurricane Milton but laments blows his staff and neighbors absorbed from Helene -- and fears the worst may yet come
October 10, 2024 at 3:20 AM
Raising an eyebrow but no alarms, BlackRock again presses 'vertical integration' with RIA distribution, something GeoWealth seized upon in latest $18-million round
The $10-trillion manager, which has no salesforce, is 'powering flows' by allying, as vendor and owner, with RIA outsourcers like GeoWealth, after previous success with Envestnet and iCapital.
August 5, 2024 at 11:53 PM
Envestnet lands $4.5-billion deal to go private-- including nixing $900 million in debt -- with Fidelity and BlackRock sweetening the pot by joining the future ownership group
Bain brought in Reverence, which owns Osaic, and a bunch of asset managers to fund the deal it controls, and will appoint a new CEO later this year
July 11, 2024 at 10:05 PM
Ten years into a pilot, State Street finally joins BlackRock and promises an annuity baked into 401(k) funds as post-80 longevity insurance
State Street is still working on finishing touches but is building on its momentum after leaping from seventh to third in retirement asset management
June 27, 2024 at 1:25 AM
Altruist is CTO-less, for now, quasi-intentionally, it says • Ex-rival exec hired to jumpstart cross-selling Orion products to enterprise clients • BlackRock tops Grayscale • Facet outsources estate plans • Advyzon profits off Goldman exodus • Dan Wiener's RIA has new CEO • CFP count tops 100k
Shiralker out at Altruist • Orion gives Trevor Noble his cause • Bitcoin has a new fund king • Software maker benefits from Goldman custody exec. churn • Carson Group denies lawsuit • Merge of Wiener's old shop complete • 100,000th CFP named.
June 7, 2024 at 1:44 AM
Oklahoma bid to blacklist BlackRock bombs in a big way, and the oil state may set back anti-ESG investing efforts in 19 other states
The state's pension board disregarded the Republican-dominated government by extending BlackRock's contract to manage $7.3 billion of its retirement assets -- BlackRock still scaled back its ESG stance.
June 3, 2024 at 7:09 PM
Fidelity, Voya and BoA smooth BlackRock's launch of guaranteed-paycheck ETFs but 401(k) plan participants may yet balk at high, unseeable fees and intangibility of benefits
Big recordkeepers greenlit Wall Street asset manager's novel 'Paychecks' product, with BlackRock expressing ambitions to also expand the product to non-retirement accounts
May 11, 2024 at 3:31 AM
FDIC bid to strip BlackRock and Vanguard of superpower 'has legs' and reckoning may start with curbs on self-certification of passive index funds
The bank deposit insurer could make the $17-trillion ETF power bloc lose the ability to self-certify as 'passive' funds because their sheer scale could make them an active menace to the banking regulator, at least in this political climate.
April 25, 2024 at 1:29 AM
BlackRock invokes Envestnet's fresh promise in pushing iShares by model portfolios on earnings call where merciless analysts pepper its execs with questions about sub-5% organic asset growth
Assets soared to $10.5 trillion and earnings per share beat their bogey, but the New York City money manager just keeps sinking because growth relies too much on market gains.
April 13, 2024 at 2:06 AM
Fidelity hits staggering $12.6 trillion in 2023, bids adieu to headhunted retail chief, beats Schwab's performance -- not least because it doesn't own a bank -- and sees Maggie Serravalli's star shine
Retail was Fido's weakest division with 3% growth and its chief departed; it's B2B units -- 401K and custody/clearing -- jumped 6% each; Serravalli now serves as the company’s chief administrative officer.
February 9, 2024 at 5:33 AM
Blacklisted 'woke' firms like BlackRock and State Street still have a lock on AUM in oil states like Oklahoma; anti-ESG politicians underestimated the fierce independence of state money managers and Republican lawmakers who back them
Oklahoma public pension fund revolts against state Treasurer and refuses to divest ESG funds in protest against mixing politics with fiduciary duties -- roughly a repeat of the ESG revolt in reverse.
November 2, 2023 at 1:50 AM
BlackRock brass cited 'Aperio' again and again, today, amid analysts' grilling about 'depressed flows' -- it bought the direct-indexing unit in the feverish grab of 2020-2021
CEO Larry Fink and CFO Martin Small used the $39-billion unit, acquired for $1 billion, to show they can both grow organically and explain why they plan a new M&A round to grow inorganically.
