BlackRock Expands Commitment to DC Advisor Channel
January 30 2024 - 8:05AM
Business Wire
Appoints Carrie Schroen to Lead Dedicated
Team Focused on Next Phase of Growth
Launches Digital Hub Serving Defined
Contribution Advisors
BlackRock today announced two major developments supporting the
growth and advancement of defined contribution (DC) advisors.
First, BlackRock has appointed Carrie Schroen as Head of US DC
Intermediary Business, a newly created role, effective January 15,
joining the already established leadership team for the business.
Schroen most recently served as a national sales manager within
BlackRock’s U.S. Wealth Advisory team and brings more than 20 years
of experience working with financial advisors, including starting
her career as an advisor herself. Schroen’s track record and
expertise uniquely positions her to lead the growth of BlackRock’s
business with retirement plan advisors in an evolving landscape,
where the role of intermediaries is expanding, large national firms
are consolidating, and demand for personalized investment solutions
is increasing.
Second, BlackRock launched the Defined Contribution Practice
Management Program, providing robust tools and resources for
retirement plan advisors of all sizes. It is the latest addition to
BlackRock’s growing value-add program, developed to meet the needs
of the 62% of retirement specialist advisors who want more support
in building their DC business and the 39% of plan advisors who
would value support growing their wealth business1. BlackRock sees
the convergence of wealth and defined contribution as a new
frontier for the DC Advisor channel.
Anne Ackerley, Head of BlackRock’s Retirement Group, said, “As
the DC Advisor landscape evolves, BlackRock is at the forefront –
committed to anticipating and addressing the needs of this
important channel. Through new tools and new leadership, we will
help strengthen relationships and position BlackRock as the best
partner to our clients.”
These announcements come at a time when advisors are playing an
increasingly vital role in helping individuals plan a more secure
retirement. The amount of corporate DC assets managed by retirement
plan advisors grew by 14% CAGR between 2018 and 2022 versus 6% for
the market overall.2
“In an increasingly competitive environment, advisors are
solving complex workplace and wealth needs for more sophisticated
investors, as market and demographic dynamics lead clients to
consider active and retirement income solutions,” said Schroen.
“BlackRock reduces the complexity, partnering with advisors to
deliver best-in-class investment solutions. With our new practice
management hub, we are arming advisors with turnkey resources for
plans and participants so they can spend more time building
relationships that drive business growth.”
At launch, BlackRock’s Defined Contribution Practice Management
Program includes digital resources for both seasoned retirement
plan advisors as well as those who are newer to the DC space.
Looking ahead, the firm plans to spearhead additional research,
content, initiatives, and technology solutions to support advisors
navigating the complex needs of DC plans and participants.
Advisors can access the Defined Contribution Practice Management
Program here.
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
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1 Cerulli US Defined Contribution Distribution 2023 2 Cerulli US
Defined Contribution Distribution 2023
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Thomasin Bentley 646-231-1769 thomasin.bentley@blackrock.com
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