The title says it all.
Despite looking at the wikipedia page, I’m still left feeling like I missed something. It seems like investment companies are pointless, but I know little about their actual day-to-day functions.
For example: “enterprise risk management” is listed as one of BlackRock’s specialties; as a working-class layman, this is hard to make any connections to. Is this just funding? Do they perform any duties similar to a bank?