Individual investors with accounts at multiple firms are starting to consolidate with financial advisors who use BlackRock technology to evaluate risk.
BlackRock CEO Larry Fink said on Tuesday's earnings call that investment technology is drawing individual investors' money to the firm.Individual investors are moving their money to financial advisors, private bankers, and other money managers who use BlackRock technology, executives said on Tuesday's earnings call.
BlackRock has been selling Aladdin, its signature investment management platform, to institutional investors, insurance companies, and other asset owners for 20 years.
Kapito and other executives said that individual investors with accounts at more than one firm liked the technology so much, they're consolidating their portfolios with financial advisors who use Aladdin Wealth.
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