BERWYN, PA — Envestnet has announced the introduction of BlackRock custom model portfolios for registered investment advisors (RIAs), unveiled during its Elevate conference on Wednesday, April 9, in Las Vegas. This marks a milestone in the decade-long collaboration between the two financial industry leaders, providing RIAs with seamless, scalable access to BlackRock’s expertise in portfolio construction within Envestnet’s Unified Managed Account (UMA) platform.
The new offering delivers streamlined access to BlackRock’s custom model capabilities, combining traditional public market investments, such as ETFs and mutual funds, with plans to integrate Separately Managed Accounts (SMAs), private markets, and other alternative assets into its framework. This approach ensures personalized, tax-effective strategies tailored to clients’ specific goals and risk preferences while enhancing operational efficiency.
“This year, as we celebrate a decade of partnership with BlackRock at Elevate, we’re excited to offer advisors on our platform access to these innovative custom model solutions that reflect our shared commitment to providing scalable solutions that can help drive better client outcomes,” emphasized Dana D’Auria, Group President and Co-Chief Investment Officer at Envestnet.
By utilizing UMA technology, the platform enhances advisor capabilities, enabling more strategic and personalized relationships with clients. It addresses a significant industry need for RIAs to scale operations efficiently while dedicating more focus to client engagement. Research conducted by Envestnet in 2022 revealed that firms allocating over 75% of their practice to model portfolios consistently achieved higher valuations.
“Clients are our north star at BlackRock. The expansion of our long-standing collaboration with Envestnet reflects that commitment,” stated Jaime Magyera, Co-Head of BlackRock’s U.S. Wealth Advisory Business. “By combining BlackRock’s investment platform and portfolio construction expertise with Envestnet’s UMA technology, we are helping advisors meet the unique needs of their clients in a seamless way, while also making it easier for them to scale their businesses.”
This initiative builds on BlackRock’s significant track record in managed portfolios, with $300 billion in global assets. Industry projections estimate model portfolio assets could double to $10 trillion in the next four years, further highlighting the pivotal role of these offerings in transforming wealth management.
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