What happens when one of the world’s largest asset managers starts rethinking portfolio construction in the age of AI?

On this episode of Dakota Live!, Robert Morier sits down with Michael Gates, Managing Director and Head of Model Portfolio Solutions for the Americas within BlackRock’s Multi-Asset Strategies & Solutions platform.

The conversation explores how BlackRock is thinking about:

• Model portfolios and advisor scale
• Active vs. passive portfolio construction
• The rise of active ETFs
• Bitcoin ETFs and alternative allocations
• AI’s impact on investing and research workflows
• Behavioral coaching and “advisor alpha”
• Risk budgeting, tactical allocation, and market structure
• Tax overlays, SMAs, and portfolio personalization
• What future investment professionals need to learn now

Michael also shares how his background in biological sciences and economics shaped his investment philosophy, why efficient markets still matter, and how AI coding tools are already transforming research and productivity inside financial services.

For advisors, allocators, wealth managers, students, and anyone interested in the future of portfolio construction, this is a deep dive into where the industry may be headed next.

Topics include:

BlackRock model portfolios
Portfolio construction strategies
Active ETFs vs passive investing
Bitcoin ETF adoption
AI in asset management
Advisor alpha and behavioral finance
Wealth management trends 2026
Multi-asset investing
Tax-loss harvesting strategies
Institutional investing insights

For our audience of allocators, advisors, OCIO professionals, and emerging investment leaders, this episode offers a real-time look into how one of the largest asset managers in the world is thinking about portfolio construction, AI, risk, and the future of advisor value creation.

And for students, this conversation is a masterclass in what the next generation of investing actually looks like: combining economic intuition, technology, coding, behavioral understanding, and communication into a modern investment career.