One of the biggest issues on Larry Fink's mind these days is financial inclusion, he told a panel audience at the World Economic Forum in Davos, Switzerland.
"I think the question isn't the financial system but the inclusiveness of the financial system, and we don't talk about that at all," the BlackRock CEO lamented during a panel entitled "Remaking the Future of Global Finance" moderated by CNBC.
"This is the greatest financial activity since the financial crisis, and we've seen a three-times increase in equity markets over the last 10 years," Fink said, referring to the record highs seen in the major U.S. stock indexes.
But the fundamental problem, he stressed, was that while those who own equities have done "fantastically well," including himself, "it has not been so impactful for so many people."
The reason is that "we are not addressing the issue of inclusion, of more participation in the marketplace," Fink said.
And that "has to come from working with the majority of the population on financial literacy, and improving that financial literacy so they don't feel frightened of moving their money into long term instruments."