- Simplified Access Made Possible by GeoWealth and iCapital’s
Technology
- Models provide customizable access to private markets alongside
public markets in a single account
BlackRock (NYSE: BLK) today has gone live with a
first-of-its-kind customizable public-private model portfolio
within a Unified Managed Account (UMA). The models are powered by
GeoWealth’s UMA technology and supported by iCapital’s underlying
technology capabilities.
The launch marks the first time a customizable model portfolio
that includes access to both private and public market assets is
available through a UMA, featuring streamlined administration and
custodial integration.
Advisors are increasingly turning to models-based solutions to
meet demands for more tailored products and access to diversified
exposures. This collaboration is designed to simplify and enhance
advisors’ ability to allocate across public and private
markets.
“This launch represents a significant step forward, helping
advisors allocate across both public and private markets all in one
unified, professionally managed portfolio,” said Jaime Magyera,
Co-Head of BlackRock’s U.S. Wealth Advisory Business. “BlackRock’s
mission is to make investing easier and help more people access the
full power of capital markets. Through our partnership with
GeoWealth and iCapital, we are doing just that, helping advisors
deliver differentiated service and outcomes for their clients
across their whole portfolio.”
BlackRock is a leading provider of models, with approximately
$300 billion in assets in such models, globally. As more RIAs adopt
model portfolios into their practices, managed models present a
significant growth opportunity, driven by the customization,
efficiency and scalability of these solutions. BlackRock expects
managed model portfolios to roughly double in assets over the next
four years, growing from $5 trillion today into a $10 trillion
business. BlackRock’s custom models business is its fastest growing
models segment, accounting for $50 billion in new assets over the
past 5 years.
"We are proud to support the launch of the first customizable
public-private model portfolio within a Unified Managed Account
(UMA). This innovative solution enables advisors to easily
incorporate alternative investments into their investment
strategies for their clients in a simplified way, within a single
account," said Lawrence Calcano, Chairman and CEO of iCapital. "We
believe models will be an important way for advisors to allocate to
private markets, and iCapital’s underlying technology allows our
clients to customize what they want to buy or deliver into the
market.”
Tech enhancements to better enable portfolio management and data
analytics are also driving the growing adoption of model portfolios
among RIAs. This growing theme underscores the broader benefits of
the collaboration with iCapital, a global fintech platform helping
drive the world’s alternative investment marketplace, and
GeoWealth, a proprietary technology and turnkey asset management
platform (TAMP) serving RIAs.
“Advisors and asset managers have long understood the role of
private markets investments, the challenge has been the inability
to systematically integrate and implement at scale in a wealth
management practice,” said Colin Falls, CEO of GeoWealth.
“GeoWealth’s UMA technology and workflow solutions, in partnership
with BlackRock and iCapital, creates an entirely new paradigm for
advisors considering a public-private portfolio.”
These models will provide advisors with intuitive workflows,
efficient reporting tools, and comprehensive investment management
capabilities throughout the investment’s lifecycle. iCapital’s
Multi-Investment Workflow Tool streamlines the entire alternative
assets investing experience.
BlackRock sees significant growth opportunity in the U.S. wealth
market and is actively positioning the firm to become an integral,
whole portfolio partner to advisors in an increasingly complex
environment. Overall, BlackRock’s U.S. Wealth Advisory business is
a key growth-driver for the firm, generating a quarter of
BlackRock’s revenues in 2024.
BlackRock, GeoWealth and iCapital are separate and
non-affiliated companies. GeoWealth provides rebalancing
capabilities for portfolios containing private market vehicles.
iCapital offers streamlined subscription document processing to
invest in the private market vehicles. BlackRock is a strategic
investor in GeoWealth and iCapital.
Incorporating products providing private market exposure into a
portfolio presents the opportunity for significant losses,
including in some cases losses which exceed the principal amount
invested. Funds that seek to provide exposure to private assets
(“private investment funds”) may have experienced periods of high
volatility and in general, are not suitable for all investors.
Asset allocation and diversification strategies do not ensure
profit or protect against loss in declining markets. An investment
in shares of the private investment funds should be considered
illiquid. In addition, the securities in which the private
investment funds invest may be valued at prices that the funds are
unable to obtain upon sale due to factors such as incomplete data
or market instability. Such private investment funds may not be
able to realize the investment at the latest fair value price. End
client account performance may differ due to the illiquidity of the
private investment funds.
Forward-Looking Statements This press release, and other
statements that BlackRock may make, may contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act, with respect to BlackRock’s future financial or
business performance, strategies or expectations. Forward-looking
statements are typically identified by words or phrases such as
“trend,” “potential,” “opportunity,” “pipeline,” “believe,”
“comfortable,” “expect,” “anticipate,” “current,” “intention,”
“estimate,” “position,” “assume,” “outlook,” “continue,” “remain,”
“maintain,” “sustain,” “seek,” “achieve,” and similar expressions,
or future or conditional verbs such as “will,” “would,” “should,”
“could,” “may” and similar expressions.
BlackRock cautions that forward-looking statements are subject
to numerous assumptions, risks and uncertainties, which change over
time. Forward-looking statements speak only as of the date they are
made, and BlackRock assumes no duty to and does not undertake to
update forward-looking statements. Actual results could differ
materially from those anticipated in forward-looking statements and
future results could differ materially from historical
performance.
About BlackRock BlackRock’s purpose is to help more and
more people experience financial well-being. As a fiduciary to
investors and a leading provider of financial technology, we help
millions of people build savings that serve them throughout their
lives by making investing easier and more affordable. For
additional information on BlackRock, please visit
www.blackrock.com/corporate | Twitter: @blackrock | LinkedIn:
www.linkedin.com/company/blackrock
About GeoWealth GeoWealth is a turnkey asset management
platform (TAMP) and financial technology solution built
specifically for the needs of modern RIAs. GeoWealth’s
user-friendly, cost-efficient, integrated technology enables
advisors to access a diversified lineup of model portfolios and
fully offload mid-and back-office responsibilities, including
performance reporting, billing, portfolio accounting and more. Via
its customizable open-architecture platform, GeoWealth enables
advisors and firms to grow faster and serve clients more
efficiently. Founded in 2010, GeoWealth is headquartered in
Chicago, IL. Visit us at geowealth.com and follow us on
LinkedIn.
About iCapital iCapital powers the world’s alternative
investment marketplace, offering a complete suite of tools,
end-to-end enterprise solutions, data management and distribution
capabilities, and an innovative operating system. iCapital is the
trusted technology partner to financial advisors, wealth managers,
asset managers, as well as other participants in this ecosystem,
and offers unrivaled access, technology, and education to
incorporate alternative assets, structured investments (SI), and
annuities into the core portfolio strategies for their clients.
At the forefront of the digital transformation in alternative
investing, iCapital’s secure platform delivers a complete portfolio
of management capabilities for education, transactions, data flows,
analytics, and client support throughout the investment lifecycle.
With $880 billion of global volume activity on platform, inclusive
of $220 billion in global alternative assets, the iCapital
operating system automates and streamlines the complex process of
private market investing and seamlessly integrates with clients’
existing infrastructure platform and tools.
iCapital employs more than 1,750 people globally and has 16
offices worldwide, including New York, Greenwich, Zurich, Lisbon,
London, Hong Kong, Singapore, Tokyo, and Toronto. iCapital has
consistently been recognized for its outstanding innovation,
fintech industry leadership, and performance, including CNBC World
Top Fintech Companies for 2024, and Forbes Fintech 50 for seven
consecutive years since 2018.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20250326374537/en/
For media inquiries, please contact: BlackRock: Reem
Jazar, 646-357-6135, reem.jazar@blackrock.com iCapital:
919-602-2806, icapital@neibartgroup.com GeoWealth: Will Ruben, 847
208 8289, william@streetcredpr.com
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