BlackRock to Buy SpiderRock as Firm Expands Wealth Management

BlackRock Inc. said it’s acquiring SpiderRock Advisors, an asset-management and technology firm, to expand its customized investing strategies to wealthy clients.

The deal will increase BlackRock’s ability to offer tax-efficient investment services — especially those that rely on options trading, BlackRock said in a statement Friday. In 2021, the asset manager made a minority investment SpiderRock, which oversees about $4.8 billion of assets for investment advisers, family offices and other clients.

SpiderRock “can provide advisers with a comprehensive suite of customization capabilities that help solve clients’ unique challenges, such as income generation, downside protection, and tax-efficiency through the use ...