“They control vast amounts of money which is a vast amount of power.”
“They” include me and a lot of other retail investors. They “control” their UAM the same way Fidelity of Vanguard on Manulife do. They invest it on behalf of their private investors. If you’re worried about a concentration of power based on wealth, go after Musk and Bezos.
So do you, as an investor, have any controlled over blackrock? No, you do not. They take your money and use it for political power. Do you, as an investor, have any controlled over blackrock? No, you do not. They take your money and use it for political power. I’m sure that they give a decent rate of return, but it’s a huge concentration of power that must be dealt with.