Press Release

BlackRock Expands Commitment to DC Advisor Channel

Issued by BlackRock

Jan. 30, 2024

Appoints Carrie Schroen to Lead Dedicated Team Focused on Next Phase of Growth

Launches Digital Hub Serving Defined Contribution Advisors

NEW YORK -- 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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This material is provided for educational purposes only and is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. The opinions expressed are subject to change. References to specific securities, asset classes and financial markets are for illustrative purposes only and are not intended to be and should not be interpreted as recommendations. Reliance upon information in this material is at the sole risk and discretion of the reader. The material was prepared without regard to specific objectives, financial situation or needs of any investor.

This material may contain “forward-looking” information that is not purely historical in nature. Such information may include, among other things, projections, forecasts, and estimates of yields or returns. No representation is made that any performance presented will be achieved by any BlackRock Funds, or that every assumption made in achieving, calculating or presenting either the forward-looking information or any historical performance information herein has been considered or stated in preparing this material. Any changes to assumptions that may have been made in preparing this material could have a material impact on the investment returns that are presented herein. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy. Diversification does not guarantee investment returns and does not eliminate the risk of loss.

The information and opinions contained in this material are derived from proprietary and non-proprietary sources deemed by BlackRock to be reliable, are not necessarily all- inclusive and are not guaranteed as to accuracy.

¹ Cerulli US Defined Contribution Distribution 2023 ² Cerulli US Defined Contribution Distribution 2023

Contacts

For press inquiries:

Thomasin Bentley 646-231-1769 thomasin.bentley@blackrock.com

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