BlackRock, the world's largest asset management company with $10T in assets under management, saw a misalignment between what clients wanted and what they needed. According to a 2013 BlackRock Investor Pulse Survey conducted across 12 countries, 62% of investors polled said they were concerned about having enough income from investments to live comfortably in retirement, and 54% agreed that "I'm worried about outliving my savings.” Women were especially likely to overlook longer-term financial priorities.

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BlackRock asked us to help them help investors and financial advisors have more successful retirement planning conversations that included consideration of BlackRock products. 

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Designed with the end consumer in mind, the BlackRock Plan provided advisers a set of tools and conversation starters to help construct a personalized action plan for clients in order to help them reach their financial goals. Using the toolkit, advisers could help consumers pin-point big life events, such as starting a new business, buying a property or saving for retirement, which were expected to have a significant financial impact on their future. Users, both consumers and advisers, then had the option of accessing a product finder that suggested a mix of passive and active BlackRock products investors they could then discuss.

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The BlackRock Plan helped investors close the gap between how much they needed to save and the retirement income they were expecting.

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1. Encouraging end clients to understand preparedness for retirement and what actions to take through tools and thought leadership.

2. Communicating which BlackRock products might be best for investors

3. Enabling Financial advisors to have better retirement planning conversations with clients.

 

At the launch of the BlackRock Plan, the head of EMEA retail at BlackRock, Alex Hoctor-Duncan, said, many people in the market currently display an “over-dependence on history and an over-reliance on property to provide for the future. Given the low yields on offer now, we hope this new tool will enable savers to become investors.”