YouSaid · the spoken record

Jaime Magyera

lines on the record: 59
first: 2025-09-19
most recent: 2025-09-19
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“I was really fortunate to have my father tell me that the first thing I needed to do when I got a job was start saving in an IRA and in my 401k and even when it hurt to do, I did it. I wish I had known back then that I could have been saving in many different ways. I could have been investing in many different ways. And so, you know, to anyone who is out there thinking about, are they saving enough or investing enough? The answer is probably no. And you should do more. And there's so many ways to do it. You can use a financial advisor. You can go direct. You can do it in many different ways, but just do it. Just start. That's something I would have done.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“So I go back to my way, my entry into this industry. I didn't know the first thing about anything. I didn't think I wanted to be in this industry. But I went in with open eyes and I asked a lot of questions. And in some ways it was like, because I didn't have the experience, it made it easier for me to be just like an everyday person that we were trying to serve. And so I say, come into this industry. You don't need a traditional background. In fact, I prefer people not to have a traditional background of finance or econ come into this industry and help us make it better.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“Who do so good? But that's kind of one side of it. The other side of it is I like intensity. So like mayor of Kingstown, I'm watching Terminalist Dark Wolf right now. I think that's on Amazon. It is very good. Basically. Chris Pratt? Yes, Navy SEAL term CIA operative. Very interesting”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“He loves llama llama. So any llama llama you can imagine. But actually, I just finished a great book for the second time, a more beautiful question. Warren Berger, it talks about the art of inquiry and using inquiry to, I mean, gosh, the heart of any innovation. Why does the world not have this? What if the world did have this? How do we get the world to have this? And so it really talks about the art of inquiry as a way to better understand, to fuel curiosity, and to innovate and create better solutions.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“So this is such a good question and hard question. I will answer it this way. There are so many. I love to have a board of directors approach. Like I have this whole crew of people that I go to for different things. And I truly like, you know, you mentioned Saleem Ramji. He's one of them, Martin Small, Rob Goldstein, Rob Capito, Mark Weedman. Like there's so many. Anne Ackerley who used to run the retirement business at BlackRock. And they've all played a different role in my career and in my life.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“Another thing it might turn into something, right? Right, it's going to be big one day. Exactly. But you think about some of these future growth drivers, infrastructure as part of why we acquired GIP, but we have iShare solutions that really align with infrastructure as well. And I just think that's such an under discussed opportunity.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“I think taxes is still not being discussed enough. Taxes as a concept, I mean, there is so much value you can bring as an advisor to your client by just having that conversation, asking the question. So I would encourage everyone to do that. That is such a way to build loyalty, trust, and deepen relationship. And by the way, your client starts to tell you where they have assets elsewhere. The other area I would say is just really thinking about the future growth drivers of our economy. So infrastructure. AI, we didn't talk about AI, but the”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“Which is serving their clients, helping their clients build financial plans and helping them navigate their wealth picture holistically. They turn to BlackRock to help them scale their investment management, and that's where our outsourcing capabilities come in.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, it is one of the most accelerated trend we are seeing in the wealth market right now, which is this whole notion of outsourcing. And whether an advisor is doing it because they want to professionalize what they're offering to their client, or whether an advisor is choosing to outsource because they want to save time. And their value is being with the client and talking about the holistic wealth plan, not the investment management component of it. And so they turn to BlackRock to be the outsourced provider. And so we have a models business, which is effectively an OCIO business, a models business for the wealth channel is $350 billion today. It's grown rapidly over the past few years. We think that'll double in the next few years. And it's because advisors are turning to us to say, please, let us outsource to you. And it's not just advisors. Wealth managers are doing the same. Because again, wealth managers are going to focus on their core value.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, it was challenging, very challenging. And it was something that we could not do alone for all of the reasons you mentioned. It took operations and technology platforms like iCapital. It took operations and rebalancing and trade platforms like GeoWealth to be able to allow us to deliver this portfolio. So this was something that we announced earlier this year alongside of GeoWelf and iCapital. And it was the first of its kind in the industry. A model portfolio that in one model, in one account, you can have public and private automatic rebalancing customized for your client done so easily, so conveniently.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“I'm glad you asked that because I keep coming back to liquidity is a challenge when it does not match an expectation of a client. And so advisors need to fully understand what they're working with when they delve into private markets. And in some cases, it is a five to seven year lockup if they're doing drawdowns. In some cases, you do have a liquidity interval every quarter. And so we are working with advisors all across the industry to help educate them on the new type of private markets, the new vehicles, the semi-liquid structures, but then more so we're working with them to help them understand how do you actually put that in a whole portfolio. Talk to me about how private markets sits alongside of public markets and what that does for the risk profile, for the return profile, and for the liquidity profile.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“Look, I think there is a world where so much can happen, right? In the next five years, I think we're going to see a lot of things around private markets. Part of that is solving for data and having the transparency around the private markets. What is an ETF, right? It's transparency into that index. Part of our thought process in acquiring pre-Camp was to be able to offer data transparency around private markets. But I also think that sometimes people naturally go to ETF as kind of shorthand for liquidity, convenient, and low cost. And I think there's a lot of ways that we have to figure out as an industry, and BlackRock's working on this right now, how do you structure and build vehicles that allow for liquidity, allow for lower cost, and allow for easier access, less complexity around private markets. Maybe it's an ETF, maybe it's something else.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“Call BlackRock, we have a team of, you asked about CFAs earlier. We have a team of CFAs, portfolio consultants, tax economists who do nothing but work with advisors every day on solving those problems. They will work, they will consult, they will help them take the portfolio they have. We want to meet the advisors where they are, right? So we want to help them build on what they have. And we will work with them to take that portfolio and transition it into whatever the destination is they're going for, we'll work with them in a way to do it tax efficiently and at the appropriate cadence for their client.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“So, if an advisor wanted to build a portfolio for you, you're the client, the advisor could call BlackRock, could say, I want to build a custom portfolio, I want it to have this component of public markets, maybe it's iShare's ETFs, maybe it's direct indexing Aperio, I would like it to have this component of private markets, perhaps it's BlackRock Credit, BlackRock Equity on the private side. We will customize that for them. And then it's waiting for them on a platform like GeoWealth, which is a you know GeoWalth well, a technology platform that will automatically rebalance it for them, and that advisor can now then invest their clients in that portfolio.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“We have found a way to scale and make it more convenient. So, all of that work that you just talked about, the due diligence, the operations, the complexity, we have taken that on. We have built model portfolios that do all of that for the advisor. The advisor just has to offer that to their client.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“How do I build a portfolio that's one account and it holds public and private together in one portfolio that's professionally managed, asset allocation? All of the due diligence has been done. And so recently we've engaged in partnerships with firms like GOELELT and iCapital to be able to bring models to market strategic asset allocated models that are professionally managed that incorporate private markets alongside of public markets.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“I am on the board. And iCapital has done so much to actually pave the way for advisors ability, wealth management firms' ability, to access private markets. But they are a technology platform. You still need the products. And to your point on drawdown and liquidity, we've done so much work to build solutions that actually are semi-liquid. and that provide that liquidity on a regular basis for advisors and their clients. And so that's something that has really held advisors back in the past. I think the last point, Barry, is it's still new to so many. And there's a lot of education that's needed. Sure. And, you know, it's education on the asset class and what does this really mean and how do I actually strip the 10% here and the 10% there? And so we've got to step further to say, how do we make it even easier for advisors to build portfolios? Not that I have my private markets over here and my public markets over there and another account, but instead.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, so you hit on it, right? I mean, it was so hard for people to gain access to it. It was complicated if they were able to get access to it. And to your point, liquidity was not necessarily a top priority for various reasons. When you think about where the market is going now, there's just been so much change over the wealth industry on how the wealth industry as a whole is starting to modernize access to private markets. And so one thing we are doing at BlackRock is we focus very much on technology partnerships that allow and relieve the advisor of all of that operational complexity. So you think about a firm like ICAP. ICAP.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“That we could offer to our clients not just the full power of the capital markets through public, but now also through private. And so we are very focused on really democratizing access, helping everyday people when appropriate gain access to this very important part of the capital markets.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“So, if you think about the capital markets, Public is only one piece of those capital markets. And for so long, private markets, the other part of capital markets have been utilized for institutions or even the ultra-lai net worth. And so there is a world to believe strongly an investment thesis that if you're going to do the best thing for a portfolio or an investment, you need full exposure to public and to private markets. And so BlackRock is doing a lot to help advisors and their clients have easier access to private markets. So you may recall last year we had a whirlwind news announcements around HPS, GIP, prequin, three acquisitions, all related to private markets, prequin related to data, GIP infrastructure, HPS, credit, and private financing. And so we acquired these firms.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“Meaning people are getting very focused. Policymakers, employers, asset managers, record keepers on how do we close the gap between this retirement savings shortfall. And so to your question, the 60-40 worked, it works, but actually if you were to have a 50-30-20, but strategically and thoughtfully make sure that that glide path, that target date fund that also incorporates private markets is doing so in a way that helps people get more diversification, gain alpha, possibly gain more income. We've done studies that show you can get 15% more return on a portfolio with private markets, a target date fund with private markets over a 40-year retirement. And so that's something to talk about.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, so it's, you know, the one thing that's different about the retirement space is it's versus the wealth space is retirement is quite slow moving. The market itself is quite slow moving. And so if you actually look back 20 years, I would say there's probably less change over 20 years than we'll expect to see over the next 10.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“The switch. Really interesting. And then the third point is people, both employers and employees, are saying we need to close the gap on this saving shortfall and we need to find more returns and more protections. And so that's really where you start to point to private markets.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“So imagine a target date fund with a guaranteed income sleeve in that. So we have a product called LifePath Paycheck. Life Path Paycheck is among a few other solutions in the marketplace, but Life Path Paycheck is the fastest growing guaranteed income solution. What's amazing about this solution, though, is that it gives employers and employees the choice to turn on that guaranteed income. So you're investing, investing, investing, and then you come to a point and you decide, do I want that guaranteed income?”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“And I'll come back to that in a moment. But I think there's a really interesting tension there of perhaps overconfidence in savers and reality in those building the plans. And then when we move on to retirees, very low confidence once they've retired and their ability to actually figure out how to sustain their life and retirement. And so some of the actions or some of the insights that really came out of this, one, savers are looking for access to professionally managed solutions. Think target date funds, right? LifePath portfolios, BlackRock invented the Target Date Fund 30 years ago, but target date funds are very, very important. Two is savers are looking for some type of clarity or solution around guaranteed income. Give me something that will just tell me what I'm going to be able to spend every month and better yet make that guaranteed so I know I have it every month.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“Savings rates have come down. Thank you. And so the question is that because of confidence, or is that because actually people are spending more money they need to? Maybe inflation, maybe, right? So like we have to dig into that a little bit more. But importantly, savers are seeing more confidence or feeling more confident. You then ask the people in charge, the experts who are building those plans. Confidence is very low. In fact, lower than we've seen.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“Like off the charts, confidence. Now it's come down a little bit because of market volatility. And I think what that calls out is, of course, we're all more confident when markets are rising. But very strong confidence in their ability to retire. However, we've seen savings come down. And so the question is, is that because of confidence?”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, not many people know that. And so, you know, it's something that we are so proud of and really for me, it was always my North Star. I remember when I was first in the retirement business at BlackRock, I was able to go home and tell my parents what I did and explain it to them in a way that I felt so good about and they understood. And that's what we get to do every day. You mentioned the survey. So it's our 10-year anniversary of doing this survey. Wow. We've been doing it for a decade now. And every time we go out, we go to plan sponsors who are the employers building the plans and offering them to their employees. We go to the savers who are the employees at massive corporations. And then we also talk to retirees, people that have saved and had access to a 401k plan, but they're now no longer working and they're in retirement. And so this year, I'll break it down in this way.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“So it's really special for me personally because I've just now returned into the retirement business and have the responsibility for this retirement business. And I say it's a responsibility and an honor because we think about the 35 million people across America that we are helping to save for retirement. Like that is what we do. Over half of the assets at BlackRock, not many people know this. Over half of the assets at BlackRock are helping people save for retirement in some way. Really?”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“Are so expert in working with these firms and advisors every single day to help them achieve their goals. And our view is if we can help our clients, the wealth management firms and their advisors grow, we'll naturally grow with them, right? So our job is to help them grow.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“So I remember when I first started in the wealth business years and years and years and years ago, you know, the relationship between asset managers and wealth management firms was often a kind of a vendor relationship. Yes. Right. It was you have a product, let's put it over here. Our position and our partnership with wealth management firms today is the only word I would say, it's like true partnership, right? It's aligned interests. We are there to not only provide them with investment capabilities. By the way, we've incredible breadth to do so, but we're also there to help them with their technology needs, their operational and scales, their advisory needs, how can we help them think through how they can grow? Organic growth, that's everyone's challenge. How do I grow organically? Well, you have to scale your business and increase your margins to do so. We help them think through all of that. And the other thing that we do is we have incredible people that are”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“We've used them in the past. Yeah, and often overlaid. Yeah, and to your point on concentrated stock, what a great way to hedge that concentrated stock position. If I want to continue holding that stock, but I want to hedge against it and manage the risk or I want to manage for tax implications, why not run an option overlay on top of that? And so the beauty of what we're doing now is we're bringing all of these discrete capabilities together into one portfolio, one holistic offering. And so you'll be able to, will be able to work with advisors and say, let's look across your clients' entire book and let us help you build a whole portfolio of public markets, private markets, direct indexing, option overlay all in one, really solving for unique needs, customized preferences.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, so one of the things that we did is when we acquired a Perio, we already had a very significant separately managed account business. I mean, for decades, we had fixed income and active equity. And what we did not have was that direct indexing capability. When we brought Aperio into BlackRock, we then pulled it all together and said, how can we actually make all of these capabilities together better serve our clients? So that means, for example, tax loss harvesting on Muni portfolios, right? So being able to take a capability and not just do it on equities, but do it on fixed income. Last year, we acquired a company called Spider Rock. I'm not sure if you're familiar with Spider Rock.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, so we agree completely. In fact, back in 2021, we acquired the firm Aperio. And Iperio was a pioneer in direct indexing. Aperio led the market working with ultra high net worth. They called it the new institutional for the purpose of tax management after tax returns. And you think about it, we live in an after-tax world. I bought my coffee with after tax dollars, yet we manage our investments before taxes. And so we saw this trend coming and we could have built it. It would have taken us probably a lot more time, but we saw what a period was doing and their capabilities and just their approach. And we thought, man, if we could match that with our distribution reach and our scale, we could really make some wonderful, wonderful solutions for our clients. And that's what we did. We acquired Aperio and we have a very significant direct indexing business. And to your point, Barry, it is predominantly”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, so direct indexing, it still sounds like a new phrase to many. It's been around for quite some time. And previously it was really used for ultra, ultra high net worth families and direct indexing and ability to create a portfolio, a custom index, if you will, of security.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“Willow, which focuses exactly on this. It builds practice management and education and actually helps connect female investors to advisors. And so we're really focused on this. And it's just such an opportunity for advice, but also an opportunity for advisors to grow their business.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“So we believe there is such an opportunity for advice here, right? I mean, there's just this whole world of women who want advice. They want to coach. They want to partner. And so what we do is we work with financial advisors to help them better serve these clients. We do that through products. So for example, women want to be able to customize and personalize their investments to things that are important to them. So we'll talk about direct indexing, but direct indexing and what we're doing through Aperio is a great way for an advisor to serve his client and help her have impact with what she's doing. We also care deeply about educating advisors on this. And to your point, it's not that the industry just woke up. It's that nobody was really talking about it. And so now we're really invested in talking about this and helping and doing events and getting advisors to bring their prospects in and we'll join them. We are a minority investor and a company called”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, it is. You know, the wake up call, I think, for many is when a financial advisor has a client. Maybe it's the man in the household. And perhaps there's a divorce or the client passes away. Listen, 70% of women leave their financial advisor, leave their husband's financial advisor after a divorce or a death.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“Absolutely, absolutely. And women are, quite frankly, underserved in this market. Women were not seen as a significant growth segment in the past, and now people are starting to come around to, wait a minute, this is a very important segment that we need to get right. And women do things differently. And so advisors need to help women do things differently and they need to serve them a little bit differently. And women like to have impact. We talk about the fact that some people invest as a means to an end. Women tend to invest as a means to what's next, right? They want to impact their community. They want to impact their family. They're always thinking about what can I do with this money as opposed to I want to make more money. And so that's a nuance, but it's a difference that really requires a very personal relationship with a financial advisor and trust.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“70%. And you know, part of this is let's talk about what's driving this women are creating wealth, right? More women are having careers or reaching executive levels or starting their own businesses. Women are also inheriting wealth From family or from parents, women are also inheriting wealth. We call it the horizontal wealth transfer. Sure, right? Divorce or widowed.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“So, our business is really focused on helping those advisors who are really trying to go after multiple client segments and help those client segments actually meet their goals. And so, you know, we talked a little bit about NextGen and kind of the millennials and Gen Z. The other segment that is just growing an incredible rates is women. Women today control a third of the world's assets. In a few years, it'll be 50%. It'll be 70% by 2050.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“Coins have been lost lastwhere. I think we'll see a lot more of that too. I think we're going to see a lot of firms coming out now to say we are actually going to allow advisors to incorporate this into portfolios on the fee-based side, on the advisory platforms. And so I think this is just the beginning. But it's also just a perfect example of if you understand where clients are going and you have the capability set to innovate and build products around it, then you can deliver those products to market and help advisors better serve their clients.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“Bitcoin 80% of millennial millionaires hold crypto. They're more inclined to use crypto than stocks and mutual funds. So what we were doing and investing and innovating in in service of client demand is creating a Bitcoin ETF.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“And think about high net worth. And we'll hit on kind of direct indexing and everything that we do through that. But if you think about those three segments, and it's a broad way to think about this, there's exceptions to every rule here. But NextGen, what are we talking about? It's the millennials, right? NG, right? NG. It's 44% of the population. So it is a massive number by quantity, but it's also a massive number by assets, right? That generation is going to inherit 70 trillion plus in assets over the next few years. And so what's interesting and what's different about these folks is that they want to invest in line with their beliefs. They're incredibly tech savvy. In fact, they trust digital and social more than they might even trust humans these days, but they want advice from advisors and they want to invest in things that are new and interesting. And so you think about Bitcoin.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, so our priority is serving the client meeting their need. And when we look at the wealth market and talk to advisors every single day, there's really three column client segments, investor segments, that advisors are trying to serve and win and build relationships with, and we're trying to help the advisor do so. So those three segments, think about the next gen investor, think about women.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“So, one of the things I love about the wealth business generally is that it is changing so rapidly, it's dynamic. Every day there is something new, investor preferences are changing. There's different client segments. And as you said, it's not just about iShares. I mean, we have so many capabilities that we can bring to bear. And so when we wake up every day, what we think about at BlackRock is how do we make investing easier? How do we get more people access to the capital markets? And that used to be public markets. Now it's public and private markets. But that's what we do. And when you think about our wealth business, we do that through financial advisors and with wealth management firms. So our job in our wealth business is to help advisors and the firms that they work for build better portfolios for their clients so that they can achieve their dreams. And we aim to power their growth, to help them scale their businesses so that they can do what they do best, which is serving their clients. And so that's why we wake up doing every single day in the wealth business.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I mean, of course, it was disruptive. And I think this kind of goes back to part of the vision with BlackRock always was, and I mentioned the term structural growth, but what does that really mean? It means durable engines of growth, resilient engine of growth, growth that can persist market cycles. And so even through a financial crisis, the fact that we had our eyeshares, ETF range, we had fixed income, we had equity, we had cash, we had everything you can imagine, and we had Aladdin. Remember Aladdin, our technology platform, was massively helpful to so many firms and institutions and governments during that time. So we had multiple ways to lead through that and help our clients through that crisis.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“One unified. That's right. How long did that? It was, I mean, every day was another step in that process. And, you know, we learn over the years how important it is to integrate and to acquire when you acquire, you're acquiring for capabilities, but you're acquiring for talent and culture. And so the match between the firms was really strong. And that helped us to integrate even faster.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“One of the great And a theme for BlackRock on just structural growth and how we view where the world is going and how we meet the needs to be there. But at that point, leadership had asked me to bring together all of the retirement businesses that were legacy BlackRock, legacy iShares, legacy BGI. And I was part of that team. In other words,”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source
“So, I always had this idea that I wanted to get closer to the client. So I would move, and you'll see from my career, I moved into roles that were closer to client. So from there, I went into marketing, which you really learned strategic messaging and how to simplify and help people understand what you're doing. I then went into our retirement business. We're there. I used to help participants understand how to enroll in their 401k plan. I mean, literally, going around the country, helping people figure out how to save and how to invest. And then I moved back into the wealth business, which is where I am today along with leading our retirement business. And the wealth business was the first time when I came back into it that I actually had direct client accountability. And that was important to me because I had done technology and marketing and product and strategy and everything else. But I had never been responsible for helping to solve client problems directly.”
2025-09-19 · Masters in Business · BlackRock's Jaime Magyera on Wealth Management and Retirement · IDENTIFIED FROM THE TRANSCRIPT · source