BlackRock (BLQA) has entered into a joint venture with Germany fintech robo-operator platform Youvestor, according to a press release. BlackRock is primarily aiming the venture to insurance agents, brokers and financial advisors, distributing its products directly through Youvestor to both end-users and consultants. Mediators will enjoy complete customer and stock protection and obtain a permanent compensation.
“The partners of “My Portfolio” act as a tipster for their own customers and this exclusive access,” Youvestor CEO Andreas Feiden indicated.
Details regarding the partnership: The equity weighting from almost zero to almost 100 percent rank the five strategies including stability, income, balance, expansion and growth. The loss threshold of strategies would be monitored daily and funds would be exchanged if necessary. The original weighting of portfolios is planned to recover once per year (rebalancing). The fee for “My Portfolio” would amount to 1.25% per annum. Selecting cheaper share classes the fund charges average would be 0.5% amount. While there is no minimum investment sum, a savings plan is possible beginning at a monthly rate of 100 euro.
“The most long-standing good contact of the broker or agent to the customer is in the foreground. “My Portfolio” should be strengthened and become an excellent tool for the consultants to provide customers with investment demand solutions,” added Christian Machts, BlackRock Head of Retail in Germany, Austria and Eastern Europe.