12.14.18
BlackRock, Microsoft to Build Retirement Planning Platform
by: Dawn Lim
BlackRock has reached an agreement with Microsoft to build tools that will help workers spend and invest their retirement money. The firms plan to develop a technology platform that will provide digital financial-planning tools and new BlackRock funds offering guaranteed retirement income to employees through their workplace saving plans. BlackRock will reportedly be in talks with insurance firms that create products similar to annuities, as well as other parties involved in handling worker accounts such as record-keepers that hold data on customers and custodians that house assets on whether they will be willing to be tied to the platform in 2019. The move shows how BlackRock wants to shape the technology plumbing that connects it to different parts of the financial ecosystem handling workers' retirement money.
Read the full article on Wall Street Journal