Blackrock Financial Management, Inc

CRD#107105
Investment Advisor Firm

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Overview

Blackrock Financial Management, Inc is a financial advisory firm that has its headquarters in New York, New York. The firm administers $833.5 billion in assets throughout 2,013 accounts, placing it among the largest firms in the nation by assets under management (AUM). The company has a very large group of 4,147 employees, including 861 financial advisors. Blackrock Financial Management, Inc is not a registered broker-dealer, signifying that it cannot buy and sell securities for its customers' and own accounts and instead is required to go through a broker-dealer company to do so. Securities are tradable fiscal assets such as stocks, options and bonds.

Blackrock Financial Management, Inc manages 1,963 of its accounts on a discretionary basis. Discretionary management is a structure in which transaction judgments are made by an investment advisor without needing the customer's authorization. The company also has 50 non-discretionary accounts with a total of $2.3 billion in assets. The investment advisory firm's typical account size is $413.8 million. An average financial advisor at Blackrock Financial Management, Inc administers around two client accounts, placing it among the most individualized firms in the country.

Blackrock Financial Management, Inc's main office is located at 55 East 52Nd Street, New York, New York 10055. The company is registered to provide services to investors across 51 U.S. states and territories.

Assets Under Management

$833.5 billion

Number of Advisors

861

Disclosures

No

Office Location

55 East 52Nd Street
New York, NY 10055

Blackrock Financial Management, Inc by the Numbers

Total Assets Under Management

$833.5 billion

National Average: $3.3 billion
Total Number of Employees

4,147

National Average: 31
Total Number of Accounts

2,013

National Average: 1,935
Average Account Size

$414.1 million

National Average: $1.7 million

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Products and Services

Blackrock Financial Management, Inc offers a number of 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, pension consulting services and selection of other advisers. It does sell products or offer services apart from investment advice to its clients. It is affiliated with one or more 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, pension consultant, 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 61% 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.

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    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 advice typically are based on which services the firm provides the client. Fees billed by the firm likely include any combination of the following fee structures: asset-based, fixed or performance-based. The company does not supply a wrap fee program, in which the firm offers a service bundle for a comprehensive fee.

Available

  • Offered by 72% 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 39% 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

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    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

The company manages money for a broad range of customers. The firm works with high net worth investors, banking institutions, investment companies, pooled investment vehicles, pension plans, charitable organizations, state or municipal government entities, other investment advisers, insurance companies, sovereign wealth funds and corporations. Out of its 2,013 clients, Blackrock Financial Management, Inc's biggest client type by number of accounts is pooled investment vehicles, although it also manages money for 75 high-net-worth individuals. A high-net-worth individual is defined by the SEC as a person who has at least $750,000 in AUM or a net worth of at least $1.50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). Around 34% of the company's clients are represented by non-U.S. persons.

  • High-Net-Worth Individuals* - 6.5%
  • Other Individuals - 0%
  • Corporations - 90.11%
  • Charitable Organizations - 3.38%

* 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
Arjun Sachdev
San Francisco, CA
Paul Joss
New York, NY
Michael Eccleston
New York, NY
Michelle Gans
New York, NY
Jason Hoban
New York, NY
Charles Fagan
New York, NY
Pankil Parikh
Atlanta, GA
Dev Shah
New York, NY

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This content was compiled from the SEC and FINRA