BlackRock has acquired a 4.9% stake in the financial advice technology firm Envestnet. The deal, worth $122.8 million, aims to expand the use of BlackRock's technology by integrating its iRetire, iCapital, FutureAdvisor and Advisor Center tools with Envestnet's existing platform. Envestnet currently serves a total of 93,000 advisors spanning 3,500 individual companies.
BlackRock has acquired a 4.9% stake in the financial advice technology firm Envestnet. The deal, worth $122.8m, aims to expand the use of BlackRock's technology by integrating its iRetire, iCapital, FutureAdvisor and Advisor Center tools with Envestnet's existing platform. Envestnet currently serves a total of 93,000 advisors spanning 3,500 individual companies.