BlackRock-backed Willow wants to help advisors catch the wealth transfer wave

BlackRock has taken a minority stake in Willow, a firm dedicated to enhancing advisor’s capabilities as they address the needs of an increasingly diverse client base.

Willow is using the new investment to launch two specialized certificate programs aimed at equipping financial advisors with the skills to navigate the challenges posed by a shifting demographic landscape in wealth management.

The upcoming programs, Advisor for Women and Advisor for NextGen, are designed to prepare advisors for a significant generational wealth transfer that is expected to significantly benefit women and younger investors over the coming years.

"We are experiencing the greatest intergenerational wealth transfer in history, with a majority of these assets shifting into the hands of women and younger investors," Elizabeth Koehler, head of advisor engagement at BlackRock, said in a statement.

Highlighting the “generational opportunity,” Koehler said the firms’ newly forged partnership “is rooted in our firms' shared purpose to bring financial well-being to more and more people."

With women set to benefit from the ongoing wealth tsunami, wealth and advisory firms have been pulling out all the stops to address them by encouraging more female advisors and engaging women with much-needed financial conversations.

Next-generation investors have also emerged as a significant battlefront for wealth firms, who are targeting younger prospects and clients with strategies ranging from financial literacy campaigns to investments tailored to their tastes.

Under Willow’s new programs, advisors must meet a number of requirements including a comprehensive suite of on-demand CE video trainings, live coaching assessments, and adherence to Willow’s ethical standards.

Advisors who complete the program can also gain access to Willow’s digital marketing platform, providing valuable support in finding potential clients.

Lacy Garcia, founder and CEO of Willow, commended BlackRock’s contribution to the initiative.

"BlackRock has a talented team and resources dedicated to helping advisors guide their clients in achieving their unique financial goals," Garcia said. "Together, we are delivering great outcomes for advisors and investors." As part of the investment, BlackRock will also take an active role in Willow's governance, with Koehler joining Willow’s Board of Directors and Anusha Sriram, head of strategic partnerships for Aladdin Wealth at BlackRock, serving as a board observer.