WEBVTT
X-TIMESTAMP-MAP=LOCAL:00:00:00.000,MPEGTS:0

00:00.000 --> 00:01.100
 YOU HAVE TO UNDERSTAND IT WILL 
 BE DIFFERENT.

00:01.102 --> 00:05.405
 BE DIFFERENT.
 THE RE-RATING IS CLOSE TO DONE.

00:05.406 --> 00:06.096
 THE RE-RATING IS CLOSE TO DONE.
 STUART: THANKS VERY MUCH

00:06.107 --> 00:08.432
 STUART: THANKS VERY MUCH 
 INDEED.

00:08.443 --> 00:09.232
 INDEED.
 INTERNATIONAL RETIREMENT SURVEY

00:09.243 --> 00:13.937
 INTERNATIONAL RETIREMENT SURVEY
 SHOWS STRONG BIPARTISAN SUPPORT

00:13.948 --> 00:14.671
 SHOWS STRONG BIPARTISAN SUPPORT
 AMONG VOTERS FOR EXPANDING

00:14.682 --> 00:15.439
 AMONG VOTERS FOR EXPANDING 
 RETIREMENT INVESTMENT OPTIONS,

00:15.450 --> 00:18.217
 RETIREMENT INVESTMENT OPTIONS, 
 BLACK ROCK HEAD HER RETIREMENT

00:18.252 --> 00:24.557
 BLACK ROCK HEAD HER RETIREMENT 
 SOLUTIONS NICK NFUSE, I GOT

00:24.559 --> 00:25.082
 SOLUTIONS NICK NFUSE, I GOT 
 YOUR NAME RIGHT.

00:25.093 --> 00:27.727
 YOUR NAME RIGHT.
 NICK:WE PRACTICED A LOT.

00:27.762 --> 00:31.488
 NICK:WE PRACTICED A LOT.
 STUART: HERE’S WHAT YOU FOUND.

00:31.499 --> 00:32.256
 STUART: HERE’S WHAT YOU FOUND.
 30% OF REGISTERED VOTERS GOT NO

00:32.267 --> 00:34.901
 30% OF REGISTERED VOTERS GOT NO
 RETIREMENT SAVINGS, 63% HAVE

00:34.936 --> 00:35.592
 RETIREMENT SAVINGS, 63% HAVE 
 LESS THAN $150,000 FOR

00:35.603 --> 00:38.705
 LESS THAN $150,000 FOR 
 RETIREMENT.

00:38.740 --> 00:39.296
 RETIREMENT.
 THAT IS NOT GREAT.

00:39.307 --> 00:44.410
 THAT IS NOT GREAT.
 DO YOU HAVE A SOLUTION?

00:44.445 --> 00:45.278
 DO YOU HAVE A SOLUTION?
 NICK:BLACK ROCK IS A RETIREMENT

00:45.280 --> 00:48.305
 NICK:BLACK ROCK IS A RETIREMENT
 COMPANY.

00:48.316 --> 00:51.352
 COMPANY.
 WHAT WE FOUND IN A SURVEY WAS

00:51.386 --> 00:52.052
 WHAT WE FOUND IN A SURVEY WAS 
 BIPARTISAN SUPPORT FOR

00:52.053 --> 00:52.843
 BIPARTISAN SUPPORT FOR 
 MODERNIZATION OF THE RETIREMENT

00:52.854 --> 00:54.311
 MODERNIZATION OF THE RETIREMENT
 PLATFORM IN AMERICA.

00:54.322 --> 00:55.055
 PLATFORM IN AMERICA.
 IT IS NOT JUST WHETHER THESE

00:55.089 --> 00:58.782
 IT IS NOT JUST WHETHER THESE 
 NUMBERS ARE GOOD OR BAD BUT ONE

00:58.793 --> 00:59.750
 NUMBERS ARE GOOD OR BAD BUT ONE
 OF THE FEW THINGS WE FIND

00:59.761 --> 01:00.384
 OF THE FEW THINGS WE FIND 
 BIPARTISAN SUPPORT IN.

01:00.395 --> 01:03.163
 BIPARTISAN SUPPORT IN.
 STUART: WHAT IS THAT?

01:03.164 --> 01:03.787
 STUART: WHAT IS THAT?
 THAT’S KIND OF VAGUE.

01:03.798 --> 01:07.224
 THAT’S KIND OF VAGUE.
 WHAT DO YOU MEAN?

01:07.235 --> 01:07.868
 WHAT DO YOU MEAN?
 NICK:THERE’S BEEN A BIG

01:07.902 --> 01:09.626
 NICK:THERE’S BEEN A BIG 
 EVOLUTION OVER THE LAST 30

01:09.637 --> 01:11.138
 EVOLUTION OVER THE LAST 30 
 YEARS.

01:11.172 --> 01:13.964
 YEARS.
 WE USED TO HAVE PENSION PLANS.

01:13.975 --> 01:15.232
 WE USED TO HAVE PENSION PLANS.
 YOUR COMPANY WOULD SAVE FOR

01:15.243 --> 01:15.800
 YOUR COMPANY WOULD SAVE FOR 
 YOU, INVEST FOR YOU.

01:15.811 --> 01:16.500
 YOU, INVEST FOR YOU.
 WE’VE  WE MOVED TO 401(K)

01:16.511 --> 01:19.403
 WE’VE  WE MOVED TO 401(K) 
 PLANS.

01:19.414 --> 01:20.905
 PLANS.
 YOU SEE PEOPLE LIVING LONGER

01:20.916 --> 01:24.217
 YOU SEE PEOPLE LIVING LONGER 
 WHICH IS GOOD BUT THE AVERAGE

01:24.219 --> 01:26.387
 WHICH IS GOOD BUT THE AVERAGE 
 AMERICAN WILL SPEND 20 TO 30

01:26.421 --> 01:27.211
 AMERICAN WILL SPEND 20 TO 30 
 YEARS IN RETIREMENT, USED TO BE

01:27.222 --> 01:27.688
 YEARS IN RETIREMENT, USED TO BE
 10 TO 15.

01:27.689 --> 01:28.646
 10 TO 15.
 THERE ARE MORE AMERICANS IN

01:28.657 --> 01:29.990
 THERE ARE MORE AMERICANS IN 
 RETIREMENT.

01:30.025 --> 01:30.715
 RETIREMENT.
 THEY ARE MODERNIZING THE

01:30.726 --> 01:31.982
 THEY ARE MODERNIZING THE 
 SYSTEM.

01:31.993 --> 01:32.683
 SYSTEM.
 WE HAVE TO TAKE THAT AND

01:32.694 --> 01:34.552
 WE HAVE TO TAKE THAT AND 
 UNDERSTAND THOSE FEATURES AND

01:34.563 --> 01:35.219
 UNDERSTAND THOSE FEATURES AND 
 BUILD BETTER PRODUCTS AND

01:35.230 --> 01:35.963
 BUILD BETTER PRODUCTS AND 
 ENTICE PEOPLE INTO SPENDING

01:35.997 --> 01:39.733
 ENTICE PEOPLE INTO SPENDING 
 MORE MONEY FOR RETIREMENT.

01:39.734 --> 01:41.959
 MORE MONEY FOR RETIREMENT.
 STUART: SUPPOSE YOU WALK INTO A

01:41.970 --> 01:42.703
 STUART: SUPPOSE YOU WALK INTO A
 COMPANY, START EMPLOYMENT AND

01:42.738 --> 01:44.662
 COMPANY, START EMPLOYMENT AND 
 AUTOMATICALLY ENROLLED IN A

01:44.673 --> 01:45.939
 AUTOMATICALLY ENROLLED IN A 
 401(K).

01:45.941 --> 01:47.432
 401(K).
 YOU CAN OPT OUT IF YOU WANT TO

01:47.443 --> 01:48.108
 YOU CAN OPT OUT IF YOU WANT TO 
 BUT YOU ARE IN FROM THE

01:48.143 --> 01:48.566
 BUT YOU ARE IN FROM THE 
 BEGINNING.

01:48.577 --> 01:53.547
 BEGINNING.
 WONDERFUL IDEA IN MY OPINION.

01:53.548 --> 01:54.238
 WONDERFUL IDEA IN MY OPINION.
 NICK:IT’S CALLED AUTO AND

01:54.249 --> 01:54.648
 NICK:IT’S CALLED AUTO AND 
 ROLAND.

01:54.650 --> 01:57.085
 ROLAND.
 IT’S AN ACCESS POINT.

01:57.119 --> 01:58.576
 IT’S AN ACCESS POINT.
 WHAT WE DON’T WANT HIS PEOPLE

01:58.587 --> 01:59.219
 WHAT WE DON’T WANT HIS PEOPLE 
 TO HAVE THE RETIREMENT

01:59.254 --> 02:00.020
 TO HAVE THE RETIREMENT 
 DEPENDENT ON THE COMPANY THEY

02:00.022 --> 02:02.247
 DEPENDENT ON THE COMPANY THEY 
 WORK FOR.

02:02.258 --> 02:04.458
 WORK FOR.
 60% OF AMERICANS HAVE ACCESS TO

02:04.459 --> 02:05.225
 60% OF AMERICANS HAVE ACCESS TO
 A 401(K) PLAN, MOST WILL AUTO

02:05.227 --> 02:07.118
 A 401(K) PLAN, MOST WILL AUTO 
 ENROLL, 40% DON’T HAVE ACCESS.

02:07.129 --> 02:10.588
 ENROLL, 40% DON’T HAVE ACCESS.
 TO MAKE IT MORE COMPLEX MANY

02:10.599 --> 02:11.356
 TO MAKE IT MORE COMPLEX MANY 
 AMERICANS STILL HAVE ACCESS TO

02:11.367 --> 02:12.800
 AMERICANS STILL HAVE ACCESS TO 
 A PENSION PLAN.

02:12.835 --> 02:15.360
 A PENSION PLAN.
 PENSION PLANS HAVE GUARANTEED

02:15.371 --> 02:16.136
 PENSION PLANS HAVE GUARANTEED 
 INCOME, PRIVATE MARKETS WHICH

02:16.138 --> 02:18.539
 INCOME, PRIVATE MARKETS WHICH 
 IF YOUR PUBLIC-SECTOR LIKE MANY

02:18.540 --> 02:20.374
 IF YOUR PUBLIC-SECTOR LIKE MANY
 OF US HERE, WHAT WE DON’T HAVE

02:20.375 --> 02:21.165
 OF US HERE, WHAT WE DON’T HAVE 
 IS ACCESS TO THOSE INVESTMENTS.

02:21.176 --> 02:23.744
 IS ACCESS TO THOSE INVESTMENTS.
 IT IS PROVIDING THE SAME ACCESS

02:23.746 --> 02:24.502
 IT IS PROVIDING THE SAME ACCESS
 WHETHER YOU ARE IN A PENSION

02:24.513 --> 02:27.372
 WHETHER YOU ARE IN A PENSION 
 PLAN OR A 401(K) PLAN AND

02:27.383 --> 02:29.818
 PLAN OR A 401(K) PLAN AND 
 LEVERAGING THAT MANAGEMENT.

02:29.852 --> 02:31.309
 LEVERAGING THAT MANAGEMENT.
 STUART: I BET YOU LOVE TRUMP’S

02:31.320 --> 02:33.921
 STUART: I BET YOU LOVE TRUMP’S 
 CHILD SAVINGS ACCOUNTS.

02:33.956 --> 02:35.180
 CHILD SAVINGS ACCOUNTS.
 NICK:ONE OF MY PERSONAL

02:35.191 --> 02:35.880
 NICK:ONE OF MY PERSONAL 
 FAVORITES, THIS IS A DIRECT

02:35.891 --> 02:36.657
 FAVORITES, THIS IS A DIRECT 
 INVESTMENT FOR EVERY CHILD IN

02:36.659 --> 02:40.218
 INVESTMENT FOR EVERY CHILD IN 
 AMERICA.

02:40.229 --> 02:43.230
 AMERICA.
 STUART: EVERYONE IS GOING TO.

02:43.265 --> 02:43.921
 STUART: EVERYONE IS GOING TO.
 NICK:YEARS AND YEARS OF

02:43.932 --> 02:44.932
 NICK:YEARS AND YEARS OF 
 COMPOUND IN FRONT OF THESE

02:44.967 --> 02:45.723
 COMPOUND IN FRONT OF THESE 
 CHILDREN, MANY OF THESE KIDS

02:45.734 --> 02:46.491
 CHILDREN, MANY OF THESE KIDS 
 WHO NEVER HAD ACCESS TO CAPITAL

02:46.502 --> 02:51.639
 WHO NEVER HAD ACCESS TO CAPITAL
 MARKETS.

02:51.674 --> 02:52.774
 MARKETS.
 WE TALK ABOUT BEING INVESTED

02:52.775 --> 02:53.565
 WE TALK ABOUT BEING INVESTED 
 AND HAVING COMPOUNDED WORK FOR

02:53.576 --> 02:53.899
 AND HAVING COMPOUNDED WORK FOR 
 YOU.

02:53.910 --> 02:56.501
 YOU.
 THIS IS MONEY WHEN YOU ARE

02:56.512 --> 02:57.202
 THIS IS MONEY WHEN YOU ARE 
 BORN, AND 18 YEARS TO DO

02:57.213 --> 02:59.638
 BORN, AND 18 YEARS TO DO 
 SOMETHING WITH IT WHEN YOU WANT

02:59.649 --> 03:00.448
 SOMETHING WITH IT WHEN YOU WANT
 TO GO TO COLLEGE OR SAVE FOR