BlackRock financial advisors: what are the pros & cons?
BlackRock is a multinational US-based financial advisory firm that offers a wide variety of investment-focused financial services - find out if they are the right fit for your needs.
Summary
With its headquarters in New York, BlackRock has 78 offices in 38 countries and clients in 100 countries.
BlackRock has one of the largest AUMs in the world and offers a wide variety of financial services, including investment strategy and portfolio diversification.
BlackRock is known for its thorough research facilities, highly personalized financial strategies, and strong risk evaluation services.
Get matched with a financial advisor whose services align with your needs at Unbiased.
BlackRock: who are they?
Established in 1988, BlackRock has grown to be a multinational investment-focused financial advisory firm serving clients worldwide.
Today, it is an extremely well-known firm that has gained multiple awards and recognition for its financial services, including being named one of America’s Most JUST Companies and receiving a perfect score for the 11th consecutive year in the Human Rights Campaign's Corporate Equality Index.
BlackRock is known for its thorough research facilities, highly personalized financial strategies, and strong risk evaluation services.
Assets Under Management:
$10.5 trillion
Fee:
0.09%-2.50%
Fee Structure:
Fee-based
Minimum Account Sizes:
$250,000 to $1 million
What does BlackRock do?
BlackRock provides people and organizations with a range of financial services. Their services are comprehensive, but their main focuses are investment strategy, diverse portfolio management, and various forms of personal and institutional financial planning.
BlackRock financial advisors are known for spending one-on-one time with clients to create the most effective financial strategy possible. They also focus on sustainable investing and the implementation of AI technology to enhance strategy development.
What are the pros and cons of BlackRock?
Like all firms, Blackrock’s financial management services have both pros and cons:
Pros
One-on-one customer service: Blackrock financial advisors focus on offering a personalized approach to each client’s needs that facilitates effective one-on-one attention.
Comprehensive strategy software: BlackRock uses an operational software program called Aladdin to handle client admin and has access to a range of data processing software for better strategy and risk assessment.
Highly respected in the industry: BlackRock has received numerous awards for its services over the years and has accumulated a high level of respect in the financial services industry.
Can accommodate individual and institutional clients: Whether you are an individual client or an entire company needing financial advice, BlackRock can provide it.
Cons
Complex fee structure: BlackRock’s fee structure is not straightforward. Different strategies and services come with unique payment structures that are negotiated upfront.
Limited financial planning services: BlackRock is not strong in general financial planning. They are more adept at managing investment strategies and portfolios.
Subpar customer service: As comprehensive as its customer service system is, BlackRock’s customer service is not always on par with that of other firms in the industry.
Commission clauses: In some cases, BlackRock financial advisors charge commissions for investing in certain assets, which can lead to a conflict of interest.
BlackRock: financial services
As a financial advisory firm, BlackRock offers an array of financial management and strategy skills. However, its main services relate to portfolio and investment management. It also provides limited financial planning services for those who need them.
BlackRock's financial services are primarily related to investment strategy. They offer diverse portfolio development, manage both in-house and third-party managed accounts (SMAs) and create personalized investment strategies.
Essentially, BlackRock financial services can accommodate multi-asset, global equity, regular equity, fixed-income, and alternative strategy options.
BlackRock: fees
BlackRock’s fees can be tricky to navigate because they use different schedules and fee structures for different services and strategies as they arise.
While most of their accounts have standard fee structures, such as hourly rates, other strategies have negotiable payment structures.
In terms of investment strategy, the fees charged by BlackRock also depend on the value of the assets in question. The higher the value of the assets being invested in or traded, the higher the fees will be.
Furthermore, many of BlackRock’s financial service employees receive commissions in exchange for clients investing in certain securities, creating a potential conflict of interest worth being aware of.
BlackRock: technology
BlackRock is a modern firm that is fully equipped to provide clients with all the necessary technology and software for financial strategy and planning.
The firm's main operating system is Aladdin, a software program aimed at streamlining client administration and communication.
Additionally, the firm uses state-of-the-art risk evaluation programs and probability calculators to help clients develop the most accurate investment strategies possible.
BlackRock security: is it secure?
BlackRock’s security is impressive.
The firm protects customers’ data in accordance with the applicable privacy and data protection laws.
The technology they use is encrypted and secure, affording each client or institution they work with a high level of privacy and protection from all kinds of threats, both cyber and otherwise.
BlackRock: customer service
BlackRock takes customer service seriously and aims to provide each client with the highest level of financial guidance and professionalism possible.
However, reviews indicate that BlackRock financial advisors are best suited to high-net-worth clients or larger institutions.
Personal, everyday financial planning is not their forte – the firm’s customer service is best received in more corporate environments, which is where their other services thrive.
Get expert financial advice
BlackRock financial advisors are part of a reputable, long-standing financial advisory firm that offers an impressive range of investment strategies and portfolio diversification services. However, they may not suit everyone’s needs, especially if they are not high-net-worth individuals.
Unbiased can help you find the financial advisor best suited to your needs to ensure you get expert financial advice tailored to your circumstances.
Senior Content Writer
Rachel is a Senior Content Writer at Unbiased. She has nearly a decade of experience writing and producing content across a range of different sectors.