Larry Fink, chief executive officer of BlackRock Inc., speaks during BlackRock’s 2026 Infrastructure Summit in Washington, DC, US, on Wednesday, March 11, 2026.
Daniel Heuer | Bloomberg | Getty Images
BlackRock CEO Larry Fink said Trump accounts could be a successful early wealth-building tool for children in the U.S., when paired with pre-existing investment vehicles.
In his annual chairman’s letter to investors, published Monday, Fink said this type of policy can have a good return on investment. “On average, early wealth-building accounts make it more likely for someone to earn an advanced degree, start a business, and own a home,” he wrote, citing a 2023 research paper by the Aspen Institute.
“We’ll see how these accounts evolve, but if they are structured thoughtfully, and paired with existing investment vehicles for education and retirement (like 529 and 401(k) plans), this could be a very significant step toward more young Americans growing with their country,” Fink wrote.
A 529 college savings plan is another tax-advantaged investment option for families to save on a child’s behalf, generally geared toward future education expenses. Alternatively, a 401(k) plan is a retirement savings tool available through most employers.
While certain Trump account details remain unclear, some financial advisors say they are optimistic about combining the accounts with other investing options.
“In general, I agree with Larry,” said certified financial planner Lee Baker, founder and president of Claris Financial Advisors in Atlanta. “I’m for anything that gets more access to more people sooner.”
Marguerita Cheng, a CFP and chief executive of Blue Ocean Global Wealth in Gaithersburg, Maryland, told CNBC that “additional opportunities for Americans to save and invest can help more individuals and families build wealth and address the wealth gap.”
Baker and Cheng are both members of CNBC’s Financial Advisor Council.
How Trump accounts work
Tax-deferred Trump accounts — also known as 530A accounts — include a one-time $1,000 deposit from the U.S. Department of the Treasury for kids born between 2025 and 2028.
BlackRock is one of several large employers that have pledged to match the Treasury’s $1,000 seed money for children of U.S. employees. Philanthropists from multiple states have also pledged to seed the accounts for certain qualifying families.
To set up an account and receive the $1,000 Treasury funds, parents or guardians must file IRS Form 4547 with their 2025 tax returns or via TrumpAccounts.gov. The “authentication process” is expected to come in May, and the seed money will arrive on July 4.
“The ability for virtually anyone to contribute is an incredible bonus,” said Baker with Claris Financial Advisors.
Parents, guardians, friends and others can contribute up to $5,000 annually in after-tax dollars to Trump accounts. Meanwhile, companies can deposit up to $2,500 pre-tax yearly as part of the $5,000 limit. The limit is indexed for inflation after 2027.
As of March 8, families filed forms to open nearly 3.5 million Trump accounts, and more than 800,000 qualify for the $1,000 pilot contribution, the Treasury said in a release.
Fink also underscored the need for early wealth building in his 2025 Chairman’s Letter, writing, “when people own a piece of the economy, they don’t just benefit from growth; they believe in it. Ownership creates connection.”
