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1Repair Windows errors before they cause bigger problems2Fix the driver behind crashes, sound loss and screen glitches3Clear out junk files and repair common Windows errorsIn BlackRock’s April 11, 2025 first-quarter earnings release, Chairman and CEO Laurence D. Fink said, “Uncertainty and anxiety about the future of markets and the economy are dominating client conversations.” He linked that mood to structural shifts in policy and markets, while comparing the period with the financial crisis, COVID, and surging inflation in 2022.
The remark is a snapshot of what Fink said clients were discussing at that time. It is not a forecast, independent evidence of economy-wide investor sentiment, or evidence that the same concerns dominate conversations in October 2026.
What Fink said and when
Fink’s statement appeared in BlackRock’s first-quarter 2025 earnings release, published April 11, 2025. The release attributes the quote to Laurence D. Fink, the company’s Chairman and CEO. He said BlackRock had seen earlier periods of large, structural shifts in policy and markets, citing the financial crisis, COVID, and surging inflation in 2022.
Fink also said BlackRock stayed connected with clients through those periods and that some of the company’s biggest growth leaps followed. That is his characterization of BlackRock’s experience, not a claim that market uncertainty necessarily leads to growth.
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BlackRock’s reported Q1 2025 results
In the same release, BlackRock reported the following first-quarter 2025 figures. They describe different aspects of the firm’s business and should not be treated as interchangeable:
| Measure | BlackRock-reported Q1 2025 figure | What it describes |
|---|---|---|
| Assets under management | $11.584 trillion | Assets BlackRock reported managing |
| Long-term net flows | $83 billion | Net flows into the company’s long-term investment products |
| Organic base fee growth | 6% | Growth in base fees from the company’s organic business |
These are company-reported Q1 2025 results, not current 2026 figures. BlackRock’s release also described its platform as spanning private markets, ETFs, and Aladdin risk-management and technology offerings.
What the comment does—and does not—tell readers
Fink’s statement offers management’s account of client conversations at a particular point in time. BlackRock’s size and client relationships provide context for why the comment drew attention, but the release does not establish that the reported mood represented all investors or the broader economy.
Nor does the statement specify a market prediction or recommend an investment response. Readers should distinguish the reported client mood from independently measured sentiment, and the 2025 remarks from any claim about conversations today.
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FAQ
When did Fink say uncertainty and anxiety were dominating client conversations?
The quote appeared in BlackRock’s first-quarter 2025 earnings release, published April 11, 2025.
What past periods did Fink compare with?
He cited the financial crisis, COVID, and surging inflation in 2022 as periods involving large structural shifts in policy and markets.
Does the quote describe investor sentiment in 2026?
Not on the evidence in the earnings release. It records Fink’s description of client conversations at the time of the Q1 2025 results and does not establish whether sentiment later changed.
What results did BlackRock report alongside the remarks?
BlackRock reported $11.584 trillion in assets under management, $83 billion in long-term net flows, and 6% organic base fee growth for Q1 2025.
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Source
BlackRock Investor Relations, “BlackRock Reports First Quarter 2025 Earnings,” April 11, 2025.
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