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BlackRock Is Going Big Into The Annuity Business With Microsoft
FYI: BlackRock has finally showed its hand, and RIAs aren't in the cards. The giant asset manager's plan with Microsoft to launch an annuities-based, defined-benefit retirement system could turn advisors into collateral damage in a looming war against Amazon over dominance of the cloud. See: BlackRock buys Envestnet's love for $123 million to crack its 'open-architecture' platform and sets stage for another juicy Envestnet acquisition. Regards, Ted https://riabiz.com/a/2019/1/3/blackrock-is-going-big-into-the-annuity-business-with-microsoft-to-create-a-21st-century-defined-benefit-pension-system
