Industry-first offering unlocks the taxable market for Advisors by combining the power of BlackRock Model Portfolios and 55ip’s sophisticated tax technology to deliver portfolio transition and management at scale
BOSTON, Dec. 10, 2019 /PRNewswire/ — 55ip, the investment strategy engine that empowers advisors to automate tax management using sophisticated quantitative capabilities, today announced its partnership with BlackRock Model Portfolios. The partnership will allow advisors to leverage 55ip’s proprietary capabilities and transition client portfolios into a BlackRock Model in a tax-aware manner with ongoing tax management and trading.
“The adoption of models is a massive industry trend that saves time for advisors and helps create better outcomes for their clients,” said Paul Gamble, CEO of 55ip. However, tax considerations have been an impediment to broader usage in taxable accounts, until now. Our partnership enables advisors to potentially improve after-tax outcomes for their clients using BlackRock models, powered by 55ip’s intelligent and automated tax technology.”
The platform will be co-branded BlackRock and 55ip and is currently available for advisors who custody client accounts though Fidelity, TD Ameritrade Institutional and Schwab Advisor Services. With these integrations, advisors will be able to select a BlackRock Model Portfolio for a client account and use 55ip’s tax technology to facilitate a tax-aware transition into the model over time and provide ongoing, automated tax management on the model.
“We’ve found that model adoption today has been heavily tilted towards qualified accounts,” said Martin Small, Head of BlackRock US Wealth Advisory. “Advisors are looking to scale their investments and add value for clients by providing a range of holistic wealth management services, including tax planning. BlackRock is committed to supporting advisors throughout their journey by providing them with a comprehensive suite of products and services. Our partnership with 55ip adds a crucial lever that lets advisors transition clients into model portfolios with tax-smart implementation and management.”
55ip’s investment strategy engine and platform allow advisors to both own and automate their investment strategies, fueling a differentiated value proposition while freeing critical time to focus on client relationships. With 55ip, advisors can incorporate sophisticated quantitative capabilities and scalable portfolio implementation into their practices, facilitating the entire investment management workflow from client-level strategy customization through trade execution. More information is available at https://www.55-ip.com.
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, our clients turn to us for the solutions they need when planning for their most important goals. As of September 30, 2019, the firm managed approximately $6.96 trillion in assets on behalf of investors worldwide. For additional information on BlackRock, please visit www.blackrock.com/corporate | Twitter: @blackrock | Blog: www.blackrockblog.com | LinkedIn: www.linkedin.com/company/blackrock.