BlackRock Pursuing Independent Adviser Market

May 26, 2009, 2:16 p.m. EDT 1 Min Read

BlackRock is beefing up its sales team and website to reach independent advisers serving retail investors, particularly those at LPL, Raymond James, ING and AIG.

Were trying to expand our coverage of independent advisers because we recognize that is one of the fastest-growing areas of U.S. retail, and wed like to have better coverage, Frank Porcelli, managing director and head of U.S. retail sales at BlackRock, told Fund Action.

The sales team currently numbers 85; Porcelli would like to expand that to 100 by the end of the third quarter.

In addition, the firm is heavily marketing its 529 college savings program, offered through the Ohio Tuition Trust Authority, and its separately managed Multi-Asset Portfolio Strategies platform.

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BlackRock Pursuing Independent Adviser Market

Were trying to expand our coverage of independent advisers because we recognize that is one of the fastest-growing areas of U.S. retail, and wed like to have better coverage, Frank Porcelli, managing director and head of U.S. retail sales at BlackRock, told Fund Action.

The sales team currently numbers 85; Porcelli would like to expand that to 100 by the end of the third quarter.

In addition, the firm is heavily marketing its 529 college savings program, offered through the Ohio Tuition Trust Authority, and its separately managed Multi-Asset Portfolio Strategies platform.

Were trying to expand our coverage of independent advisers because we recognize that is one of the fastest-growing areas of U.S. retail, and wed like to have better coverage, Frank Porcelli, managing director and head of U.S. retail sales at BlackRock, told Fund Action.