Openbank , the digital arm of Spanish bank Santander , has signed an agreement with US asset manager BlackRock to offer five portfolios of third - party funds to customers in Spain . Openbank will pay BlackRock to advise on fund allocation and distribution with the asset manager also providing market analysis . The fund will charge no commission to clients beyond those fees charged by the funds themselves .
Openbank, the digital platform of Spanish bank Santander, has signed an agreement with US asset manager BlackRock to offer five portfolios of third-party funds to customers in Spain. Openbank will pay BlackRock to advise on asset allocation and distribution with the asset manager also providing market analysis. The service will charge no commission to clients beyond those fees charged by the funds themselves.