BlackRock, Microsoft partner to develop retirement platform

BlackRock, Microsoft partner to develop retirement platform
Details are vague, but the partnership continues BlackRock's expansion into the technology market.
DEC 14, 2018

BlackRock is partnering with Microsoft to develop a next-generation retirement platform, continuing the asset manager's push into technology. The companies are exploring how a combination of BlackRock's investment products and Microsoft's technology can help people develop better saving and investing habits, and how to spend assets in retirement. Details of what such a platform would look like were kept vague in the announcement, but it will be offered by BlackRock along with "next-generation investment products" designed and managed by the firm. The new investment products will try to provide for all retirement income needs and will be available through workplace savings plans. In a prepared statement, BlackRock CEO Laurence Fink and Microsoft CEO Satya Nadella noted how the end of pensions and increasing life-spans have left millions of Americans struggling to save enough for retirement. "Retirement systems worldwide are under stress and providing financial security to retirees has become one of the most defining societal challenges of our time," Mr. Fink said in the statement. "BlackRock has a tremendous responsibility to help solve this challenge, and we recognize the need to act now." BlackRock declined to comment beyond the press release. Increasing its footprint in the technology market has been a major initiative for BlackRock throughout 2018. The firm pushed its digital advice platform, Future Advisor, to regional banks and independent broker/dealers through a partnership with LPL Financial. In March, BlackRock launched a new series of ETFs that are managed by algorithms. BlackRock's Aladdin risk-analytics software plays a central role in Morgan Stanley's next-generation technology dashboard for advisers. It's also made investments in Acorns, a retail-facing robo-adviser known for micro-investing, and iCapital, a technology platform for helping advisers access alternative investments. Most recently, BlackRock bought a 5% equity stake in Envestnet and integrated its retirement income calculator with eMoney Advisor. In November, global head of BlackRock Digital Wealth Venu Krishnamurthy told InvestmentNews the company wants to make BlackRock technology ubiquitous to advisers. A partnership with Microsoft shows the company has ambitions for the retail market as well.

Latest News

Advisor moves: LPL welcomes $750M Osaic team, Raymond James recruits Wells Fargo duo in New York
Advisor moves: LPL welcomes $750M Osaic team, Raymond James recruits Wells Fargo duo in New York

Elsewhere in Utah, Raymond James also welcomed another experienced advisor from D.A. Davidson.

UBS loses arbitration battle in fiduciary fight over foundation funds
UBS loses arbitration battle in fiduciary fight over foundation funds

A federal appeals court says UBS can’t force arbitration in a trustee lawsuit over alleged fiduciary breaches involving millions in charitable assets.

RIA moves: NorthRock adds $800M Parkside Advisors, NFP acquires Levine Group in Tennessee
RIA moves: NorthRock adds $800M Parkside Advisors, NFP acquires Levine Group in Tennessee

NorthRock Partners' second deal of 2025 expands its Bay Area presence with a planning practice for tech professionals, entrepreneurs, and business owners.

Three easy ways to boost your firm’s impact this summer
Three easy ways to boost your firm’s impact this summer

Rather than big projects and ambitious revamps, a few small but consequential tweaks could make all the difference while still leaving time for well-deserved days off.

Hightower taps Osaic alum Scott Hadley as first chief advisory officer, expands C-suite
Hightower taps Osaic alum Scott Hadley as first chief advisory officer, expands C-suite

Hadley, whose time at Goldman included working with newly appointed CEO Larry Restieri, will lead the firm's efforts at advisor engagement, growth initiatives, and practice management support.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.