Larry Fink might not be as well-known as, say, Warren Buffett, but the Blackrock CEO arguably has a greater insight into the global economy. Blackrock is the world's largest asset manager. It oversaw $11.

When it comes to investing, a 50/30/20 allocation to stocks, bonds and private assets may become the "future standard portfolio," BlackRock's Larry Fink says.

BlackRock Chief Executive Officer Larry Fink is proposing a new tweak to an age-old investing formula. Instead of a traditional 60/40 split between stocks and bonds, the prominent asset manager wants everyday investors to branch out and diversify into private market assets.