BlackRock teams with fintech Youvestor to target German insurance
Asset-management giant BlackRock is partnering with fintech firm Youvestor to move money from life insurance policies in Germany to BlackRock's funds via various financial intermediaries. BlackRock is directing the venture towards financial advisers, insurance agents and brokers. What sets the deal apart from its competitors is that BlackRock isn't currently focused on attracting new clients, instead it wants to connect with established customers through the insurance brokers it will be working with.
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.