Blackrock Financial Management, Inc

CRD#107105
Investment Advisor Firm

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Learn more about Blackrock Financial Management, Inc

  • Overview
  • By the Numbers
  • Products and Services
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations
  • Firm Advisors

    • Overview

    Blackrock Financial Management, Inc is a financial advisory firm based in New York, New York. Blackrock Financial Management, Inc administers $1.3 trillion in assets throughout 2,026 client accounts, placing it among the largest investment advisory firms in the United States by assets under management (AUM). It has a very large group, including 988 financial advisors. Blackrock Financial Management, Inc does not act as a registered broker-dealer, meaning the firm cannot buy and sell securities for its accounts and those of its customers and instead must go through a broker-dealer company to do so. Securities are exchangable fiscal assets such as bonds, equities and options.

    Blackrock Financial Management, Inc manages 1,981 of its accounts on a discretionary basis. Discretionary management is a structure in which a portfolio manager has the discretion to make buy and sell decisions for the client's account without needing client authorization. The company also administers 45 non-discretionary accounts with a total of $2.9 billion in assets. The investment advisory firm's average account size is $651.5 million. The typical advisor at Blackrock Financial Management, Inc administers about two client accounts, making it one of the most personalized advisor firms in the country.

    Blackrock Financial Management, Inc’s headquarters is at 55 East 52Nd Street, New York, New York 10055. Blackrock Financial Management, Inc is legally permitted to serve customers across 51 U.S. states and territories.

    Assets Under Management

    $1.3 trillion

    Number of Advisors

    988

    Disclosures

    No

    Office Location

    55 East 52Nd Street
    New York, NY 10055

    Blackrock Financial Management, Inc by the Numbers

    Total Assets Under Management

    $1.3 trillion

    National Average: $9.0 billion
    Total Number of Employees

    6,043

    National Average: 71,771
    Total Number of Accounts

    2,026

    National Average: 4,329
    Average Account Size

    $650.7 million

    National Average: $2.1 million

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    Products and Services

    Blackrock Financial Management, Inc offers multiple financial services, which can consist of portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, portfolio management for institutional clients, pension consulting services and selection of other advisers. The company does sell products or offer services aside from investment advice to its clients. It is also affiliated with a number of other companies in the financial services industry, including with a broker-dealer or securities dealer, banking or thrift institution, trust company, insurance company or agency, real estate broker or dealer and commodity pool advisor.

    Core Advisor Services

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      Financial Planning Services

      This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

    • Offered by 47% of firms

      Portfolio Management

      This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

    • Find a firm that offers this service

      Market Timing Services

      This is the practice of attempting to make short-term profits on investments by buying low and selling high.

    Other Services

    • Offered by 21% of firms

      Selection of Other Advisors

      This is the firm's assistance with choosing other advisors to work with who may have different specialties.

    • Find a firm that offers this service

      Publication of Periodicals

      This is the publication of various financial education materials.

    • Find a firm that offers this service

      Educational Seminars/Workshops

      This is the hosting of seminars or workshops to educate investors on financial concepts.

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    Fee Structure

    Fees for financial management largely vary depending on the financial services offered. However, fees billed by the company may include any combination of the following fee types: asset-based, fixed or performance-based. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by the firm.

    Available

    • Offered by 70% of firms

      Percentage of Assets

      Show Explanation

      This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

    • Offered by 26% of firms

      Performance-based

      Show Explanation

      Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

    • Offered by 33% of firms

      Fixed

      Show Explanation

      Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

    Unavailable

    • Find one of the 21% of firms that offer this fee type

      Hourly

      Show Explanation

      Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

    • Find one of the 1% of firms that offer this fee type

      Commissions

      Show Explanation

      Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

    • Find one of the 0% of firms that offer this fee type

      Subscription

      Show Explanation

      Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

    • Find one of the 10% of firms that offer this fee type

      Other

      Show Explanation

      Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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    Types of Clients

    The company works with a number of different investors. It caters to retail investors, high net worth investors, investment companies, pooled investment vehicles, pension plans, charitable organizations, state or municipal government entities, insurance companies, sovereign wealth funds and corporations. Out of its 2,026 clients, Blackrock Financial Management, Inc's biggest client type by number of accounts is pooled investment vehicles, though it also serves 89 high-net-worth individuals. The SEC defines a high-net-worth individual as someone who has at least $750,000 under management or a net worth of more than $1.50 million or who is considered a "qualified purchaser" (a standard met by having at least $5 million in investments). Around 35% of its customers reside abroad.

    • High-Net-Worth Individuals* - 7.27%
    • Other Individuals - 0.49%
    • Corporations - 88.57%
    • Charitable Organizations - 3.67%

    * The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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    Disclosures

    Blackrock Financial Management, Inc does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Blackrock Financial Management, Inc

    Jason Hoban
    New York, NY
    Isabel Mckeown
    New York, NY
    Pankil Parikh
    Atlanta, GA
    Landon Boger
    New York, NY
    Derek Cook
    New York, NY
    Brett Wager
    New York, NY
    Aaron Lassanske
    New York, NY
    Marc Crigger
    New York, NY
    Chad Dziedzic
    New York, NY

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    The content in this profile was updated by SmartAsset on 04/01/2022 using publicly available data compiled from the SEC and FINRA. To report any data inconsistencies or errors, please contact profile-compliance@smartasset.com.

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    Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP® and CERTIFIED FINANCIAL PLANNER™ in the United States, which it authorizes the use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.