Webull, a St. Petersburg, Fla.-based online investment platform, has expanded its advisory services with the addition of BlackRock model portfolios to its product lineup.
To access the portfolios, Webull users can select an investment strategy by completing a risk tolerance questionnaire. After that, they are matched to a model portfolio most aligned with their objectives. WeBull Advisors automatically rebalances and actively oversees the accounts.
According to its most recent form ADV, Webull Advisors is an SEC-registered advisor with $33.6 million in regulatory AUM for 136,277 clients. It provides a “range of diversified portfolios spanning multiple asset classes, including alternatives and digital assets, tailored to meet varying risk appetites and financial objectives.”
The company recently went public via a SPAC. Overall, Webull supports 23 million customers and almost $14 billion in assets.
“By integrating BlackRock’s model portfolio capabilities into our advisory platform, we’re expanding access to high-quality, professionally managed model portfolios that align with a diverse range of financial goals and risk appetites,” Webull Advisors CEO Sara Schwartz said in a statement.
“As more and more Americans begin to invest, the launch of BlackRock custom model portfolios on Webull’s platform enables individuals more choice to ultimately deliver against a range of investing goals in a simplified and streamlined manner,” Amy Jenkins, head of U.S. direct investing at BlackRock, said in a statement. “This new offering also delivers on BlackRock’s mission, to help more people build wealth that serve them throughout their lives by making investing easier and more accessible.”
Webull was founded 2018 as an equities-trading platform. It later added options and a year ago, Webull Financial began offering futures and commodities trading.