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.

Larry Fink is pushing to rewrite investment norms by replacing the 60/40 portfolio with a model that includes private assets.

Larry Fink, the chairman and chief executive of asset-management giant BlackRock offered some timely portfolio advice in his annual letter to investors. In that letter, Fink proposed an alternative to the traditional 60/40 stock-bond portfolio,