A computer may be the most influential wealth manager in the world, and now it’s functionality is available to financial advisors.
BlackRock’s Aladdin risk management platform, which manages approximately 7 percent of the world’s wealth, is increasingly used by financial advisors, says Woo Fung Kwong, managing director and head of Aladdin Risk for Wealth Management, the branch of BlackRock Solutions responsible for delivering Aladdin’s risk analytics to financial advisors
“We’re seeing a shift away from the brokerage commission-based transaction models and more into a fee-based advisory model,” says Kwong. “We wanted to bring Aladdin into this space to work with financial advisors, and I think we’ve been able to accomplish that over the pas few years.”
Aladdin, which stands for Asset, Liability, Debt and Derivative Investment Network, is at its core a risk analysis system.