U.S. media giant Bloomberg LP is testing a new online account aggregation and advisory service through its U.S. investment advisory subsidiary, Bloomberg Wealth LLC.
The new wealth management service, which is being branded as BloombergBlack, is being offered on a free 60-day trial basis to U.S. clients, and would charge a US$100/month subscription after that.
It promises to aggregate all client accounts into a single portfolio view, and then offer its proprietary data, analytics, and news, to help inform portfolio decisions.
In addition to these analytical resources, the service also offers access to a team of investment professionals to provide additional advice. However, it notes that its only source of revenue is paid subscriptions. It does not offer proprietary investment funds or receive commissions for the sale of any investment products.