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 operates as a financial advisory company that has its headquarters in New York, New York. The firm handles $833.5 billion in assets across 2,013 accounts, making it one of the largest financial advisory firms in the country by assets under management (AUM). The firm has a very large team of 4,147 employees, of which 861 are financial advisors. Blackrock Financial Management, Inc does not act as a registered broker-dealer, signifying that the advisor is not able to buy and sell securities for its accounts and those of its customers and instead must go through a broker-dealer firm to do so. Securities are exchangable fiscal assets like equities, options and bonds.

    Blackrock Financial Management, Inc administers most of its accounts on a discretionary basis. Discretionary management is a structure in which an investment advisor makes transaction judgments for the client's account without requiring client authorization. It also has 50 non-discretionary accounts totaling $2.3 billion in assets under management. The firm's typical account size is $413.8 million. An average advisor at Blackrock Financial Management, Inc administers about two client accounts, making it one of the most personalized financial advisor firms in the country.

    The firm's main office is located at 55 East 52Nd Street, New York, New York 10055. It is allowed to serve investors throughout 52 U.S. states and territories.

    Number of Advisors

    861

    Disclosures

    No

    Office Location

    55 East 52Nd Street
    New York, NY 10055

    Blackrock Financial Management, Inc by the Numbers

    Total Number of Employees

    4,147

    National Average: 4,943
    Total Number of Accounts

    2,013

    National Average: 2,522
    Average Account Size

    $414.1 million

    National Average: $1.3 million

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    Products and Services

    Blackrock Financial Management, Inc offers a number of services, which can include 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 is involved in selling products or offering services apart from investment advisory services to its customers. The firm also has a number of financial industry affiliations, 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 63% 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 charged by financial advisors usually vary depending on which services the firm provides the client. Fee types billed by Blackrock Financial Management, Inc most likely consist of the following fee structures: 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 75% 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 37% 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 3% 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 firm manages money for a broad range of customers. The company provides services to high net worth investors, banking institutions, investment companies, pooled investment vehicles, pension plans, charitable organizations, state or municipal government entities, other investment advisors, insurance companies, sovereign wealth funds and corporations. Out of its 2,013 clients, Blackrock Financial Management, Inc's biggest client group by number of accounts is pooled investment vehicles, but 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 is considered a "qualified purchaser" (a standard met by having at least $5 million in investments). Around 34% of the firm's accounts are from outside of the U.S.

    • 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

    Paula Doroff
    Chicago, IL
    Tarun Garg
    Princeton, NJ

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    This content was compiled from the SEC and FINRA