BlackRock Takes Minority Stake in Advisor Marketing Startup
Lacy Garcia's Willow will use the funds to offer "Advisor for Women" and "Advisor for NextGen" certificates.
BlackRock has made a minority investment in Willow Network, a wealthtech startup that will use the funds to launch two certificate programs to help advisors better serve women and young people in the next investor generation.
BlackRock and Willow, an educational, coaching and marketing platform that employs artificial intelligence, expect a generational wealth transfer to significantly expand the number of women and younger investors over the next few years.
The new training programs will provide advisors with the skills needed to better serve more diverse client segments, according to the two firms.
“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,” said Elizabeth Koehler, BlackRock’s head of advisor engagement.
“Our partnership with Willow is rooted in our firms’ shared purpose to bring financial well-being to more and more people,” she added.
Advisors who complete Willow’s new educational programs will be eligible for two certificates: Advisor for Women and Advisor for NextGen.
To earn the certificate, advisors must complete on-demand continuing education video trainings and assessments and live coaching assessments, and uphold Willow’s ethical standards. Once they complete the training, advisors can gain access to prospective clients through Willow’s digital marketing platform.
“BlackRock has a talented team and resources dedicated to helping advisors guide their clients in achieving their unique financial goals,” according to Willow founder and CEO Lacy Garcia. “We are passionate about expanding the Willow platform to help more advisors better serve women and the next generation of clients.”
As part of the transaction, BlackRock’s Koehler now holds a seat on Willow’s board. In addition, Anusha Sriram, strategic partnerships head for Aladdin Wealth at BlackRock, serves as a board observer.
Financial terms were not disclosed. The financial impact of the transaction is not material to BlackRock earnings, the firms said.
Pictured: Willow Founder and CEO Lacy Garcia