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Huatei Securities is ready to cash out of AssetMark, after it hits $100-billion of AUM and $2-billion in market cap, according to reports

The Chinese financial conglomerate may unload all of the $1.4-billion stake it bought for $768 million in 2016

Author Brooke Southall December 21, 2023 at 4:18 AM
1 Comment
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Huatei is a Chinese financial colossus that saw the U.S. wealth market as ripe but may have second thoughts.
Keith Girard contributed to the editing of this article.




December 21, 2023 — 7:23 PM
Excellent reporting on a developing story in the TAMP world. Surprised to see the Parent Co. wanting to unload the whole thing but never fully understood their motivations for buying a majority stake in the first place. AMK is a solid bellweather organization many would argue the market leader among turnkey platforms and they sport better margins than some of the large RIA Aggregators. It will be interesting to see if there is a private equity buyer that is interested and if so what/how they believe they can do to to grow and improve the performance of AssetMark from here forward.

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July 4, 2024 at 2:09 AM

Morningstar's sale of TAMP's $12-billion book-of-business to AssetMark ends two-year run that fell short on growth; whether RIAs stick or flee will determine fate of deal

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