BlackRock has acquired a 4.9 % stake in the financial advice technology firm Envestnet . The deal , worth $ 500 m , aims to expand the use of BlackRock 's technology by integrating its iRetire , iCapital , FutureAdvisor and Advisor Center platforms with Envestnet 's cloud platform . Envestnet currently serves a total of 93,000 advisors representing 350 individual clients .
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.