Michael Gates: Why More Advisors Are Migrating to Model Portfolios

The Long View

Morningstar

Morningstar, Financial Services, Careers, Investing Leaders, Investors, Jeff Ptak, Investing, Amy Arnott, Business, Christine Benz, Long-term Investing, Influential Investors, Entrepreneurship, Dan Lefkovitz, Finance

4.6 • 915 Ratings

🗓️ 21 April 2026

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

BlackRock’s head of model portfolio solutions for the Americas and lead portfolio manager for target-allocation models discusses the growth of model portfolios, the current macroeconomic and market environment, and recent refinements to the risks his team is taking.

Transcript

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0:00.0	Please stay tuned for important disclosure information at the conclusion of this episode.
0:05.0	Hi, and welcome to Longview. I'm Ben Johnson, head of client solutions with Morningstar.
0:12.0	Today's guest on the Longview is Michael Gates.
0:15.0	Michael is the managing director, head of model portfolio solutions for the Americas,
0:20.0	and the lead portfolio manager for target allocation models at BlackRock.
0:25.6	BlackRock's target allocation models have been adopted by a large and growing contingent of advisors in the U.S.
0:32.6	Four of the model families within BlackRock's target allocation suite have been awarded Morningstar
0:38.1	medalist ratings of gold.
0:40.4	In 2025, Morningstar's manager research team nominated Michael for a Morning Star Award for Investing
0:46.6	Excellence in the Outstanding Allocation Portfolio Manager category.
0:52.2	Michael's time at BlackRock dates to 1999, including his years with Barclays Global
0:57.0	Investors, which merged with BlackRock in 2009. Prior to founding the Model Portfolio Solutions
1:03.5	Group, Michael conducted quantitative trading research for equities in BlackRock's global trading
1:08.7	group. At Barclays Global global investors, Michael led in the
1:12.6	development and implementation of the firm's quantitative approach in fixed income and alternative
1:18.2	asset investing. Michael earned his MS and economics from the University of California Davis.
1:25.3	He also earned a BS with honors from the University of California Davis.
1:30.1	Michael is a CFA charter holder. Michael, welcome to the Longview. So glad you could join me.
1:36.8	Pleasure to be here. Thanks for having me. So Michael, while you and your team have been building
1:43.1	model portfolios for quite some time now, I'd be remiss if I assumed familiarity with the space, the concept on behalf of our listeners.
1:52.3	So I want to start with a very basic question.
1:55.1	What are model portfolios?
	...

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