BlackRock Expands Commitment to DC Advisor Channel
Appoints
First, BlackRock has appointed
Second, BlackRock launched the Defined Contribution Practice Management Program, providing robust tools and resources for retirement plan advisors of all sizes. It is the latest addition to BlackRock’s growing value-add program, developed to meet the needs of the 62% of retirement specialist advisors who want more support in building their DC business and the 39% of plan advisors who would value support growing their wealth business1. BlackRock sees the convergence of wealth and defined contribution as a new frontier for the DC Advisor channel.
These announcements come at a time when advisors are playing an increasingly vital role in helping individuals plan a more secure retirement. The amount of corporate DC assets managed by retirement plan advisors grew by 14% CAGR between 2018 and 2022 versus 6% for the market overall.2
“In an increasingly competitive environment, advisors are solving complex workplace and wealth needs for more sophisticated investors, as market and demographic dynamics lead clients to consider active and retirement income solutions,” said Schroen. “BlackRock reduces the complexity, partnering with advisors to deliver best-in-class investment solutions. With our new practice management hub, we are arming advisors with turnkey resources for plans and participants so they can spend more time building relationships that drive business growth.”
At launch, BlackRock’s Defined Contribution Practice Management Program includes digital resources for both seasoned retirement plan advisors as well as those who are newer to the DC space. Looking ahead, the firm plans to spearhead additional research, content, initiatives, and technology solutions to support advisors navigating the complex needs of DC plans and participants.
Advisors can access the Defined Contribution Practice Management Program here.
About BlackRock: BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate
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1 Cerulli US Defined Contribution Distribution 2023
2 Cerulli US Defined Contribution Distribution 2023
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Source: BlackRock