BlackRock announced it has made a minority investment in Willow Network, a startup providing services to help financial advisors better serve a growing population of new investors. Willow will use the funding to launch two new certificate programs to help advisors better respond to the unique financial and planning challenges this next generation of clients faces.
The generational wealth-transfer opportunity is expected to significantly grow the number of women and younger investors in the coming years, and these new educational programs will provide advisors with the unique skills needed to serve more diverse client segments.
The advisors who complete Willow’s new educational programs will be eligible for two certificates: Advisor for Women and Advisor for NextGen. To earn this certificate, advisors have to complete on-demand continuing education (CE) video trainings and assessments, live coaching assessments, and uphold Willow’s Ethical Standards. AFter that is complete, advisors can gain access to prospective clients through Willow’s digital marketing platform.
As part of the deal, BlackRock now holds a Board seat on Willow’s Board of Directors, held by Koehler. And Anusha Sriram, Head of Strategic Partnerships for Aladdin Wealth at BlackRock, serves as a board observer.
The financial terms were not disclosed.
KEY QUOTES:
“We are experiencing the greatest intergenerational wealth transfer in history, with a majority of these assets shifting into the hands of women and younger investors. BlackRock is committed to ensuring advisors feel prepared to capture this generational opportunity. Willow’s innovative and industry-first offering is powering that mission. Our partnership with Willow is rooted in our firms’ shared purpose to bring financial well-being to more and more people.”
– Elizabeth Koehler, Head of Advisor Engagement at BlackRock
“BlackRock has a talented team and resources dedicated to helping advisors guide their clients in achieving their unique financial goals. Together, we are delivering great outcomes for advisors and investors. We are passionate about expanding the Willow platform to help more advisors better serve women and the next generation of clients.”
– Lacy Garcia, Founder and CEO of Willow
