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 advisor firm headquartered in New York, New York. The firm has $1.0 trillion in assets under management throughout 1,989 client accounts, placing it among the biggest investment advisory firms in the United States by assets under management (AUM). The company has a very large team of 5,615 employees, including 980 financial advisors. Blackrock Financial Management, Inc is not a registered broker-dealer, signifying that it cannot buy and sell securities for its clients' and own accounts and instead is required to go through a broker-dealer firm to do so. Securities are exchangable fiscal investments like stocks, options and bonds.

    Blackrock Financial Management, Inc manages the majority of the firm's client assets in a discretionary manner. Discretionary management means that an investment advisor makes transaction judgments for the client's account without needing to seek client authorization. Blackrock Financial Management, Inc also administers 34 non-discretionary accounts with a total of $1.7 billion in assets under management. The advisory firm's average account size is $519.3 million. The average financial advisor at Blackrock Financial Management, Inc oversees about two client accounts, making it one of the most personalized financial advisor firms in the country.

    The company's central office is located at 55 East 52Nd Street, New York, New York 10055. It is legally permitted to provide services to customers throughout 51 U.S. states and territories.

    Assets Under Management

    $1.0 trillion

    Number of Advisors

    980

    Disclosures

    No

    Office Location

    55 East 52Nd Street
    New York, NY 10055

    Blackrock Financial Management, Inc by the Numbers

    Total Assets Under Management

    $1.0 trillion

    National Average: $3.7 billion
    Total Number of Employees

    5,615

    National Average: 29
    Total Number of Accounts

    1,989

    National Average: 2,073
    Average Account Size

    $519.3 million

    National Average: $1.8 million

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    Products and Services

    Blackrock Financial Management, Inc provides multiple financial services, including portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, portfolio management for institutional clients and selection of other advisers. The firm does sell products or offer services aside from investment advisory services to its customers. The firm is also affiliated with a number of other service providers 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 62% of firms

      Portfolio Management

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

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      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 23% of firms

      Selection of Other Advisors

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

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      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

    Financial management fees largely vary depending on which services are provided. Fee types billed by the company likely are comprised 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 provided by the company.

    Available

    • Offered by 74% 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 17% 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 40% 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 35% 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 2% 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 1% 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 12% 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

    Blackrock Financial Management, Inc works with a number of different clients. It works with high net worth investors, banking institutions, investment companies, pooled investment vehicles, pension plans, charitable organizations, state or municipal government entities, insurance companies, sovereign wealth funds and corporations. Out of its 1,989 customers, Blackrock Financial Management, Inc's biggest client type is pooled investment vehicles, though it also manages money for 79 high-net-worth individuals. The SEC defines a high-net-worth individual as an individual who has at least $750,000 in AUM or a net worth of at least $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). About 33% of its customers are represented by people from outside of the U.S.

    • High-Net-Worth Individuals* - 6.52%
    • Other Individuals - 0%
    • Corporations - 89.77%
    • Charitable Organizations - 3.71%

    * 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

    Thomas Burt
    New York, NY
    Jason Hoban
    New York, NY
    Justin Guo
    Princeton, NJ
    Landon Boger
    New York, NY
    Paula Mejia
    New York, NY
    Charles Fagan
    New York, NY
    David Giordano
    New York, NY
    Alissa Small
    New York, NY
    Paul Joss
    New York, NY

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    This content was compiled from the SEC and FINRA