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Morningstar finally discloses what AssetMark agreed to pay for its TAMP -- up to $100 million -- after weeks of radio silence; Morningstar Wealth could finally erase losses, CEO says

The Chicago company also revealed it recorded $3.3 million in severance costs and got more specific about just how much the Tamp was a money pit.

Author Brooke Southall August 2, 2024 at 10:18 PM
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Kunal Kapoor: As investment timelines stretched out ... we incurred significant costs.
Keith Girard contributed to the editing of this article.

Morningstar

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AssetMark

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Kunal Kapoor



Related Moves

June 24, 2024 at 11:48 PM

Under new owner, AssetMark names new CEO, but Michael Kim is keeping his CEO job, too -- as post-TAMP era draws near, and company gears up for 'aggressive growth'

The Concord, Calif., TAMP is adding the second CEO to jack up leadership bandwidth to grow organically and inorganically -- and evolve into a more generalized outsourcer.

September 11, 2024 at 4:12 AM

SMArtX is loading up on Envestnet talent as re-peopling rolls on -- post Morningstar disruption -- with two hires from the Berwyn, Pa., TAMP

The West Palm Beach, Fla., TAMP is getting Courtney Robertiello and Jacqueline Burke, and their staggering 29 years of experience for 'growth and innovation,' the company says.

July 4, 2024 at 2:09 AM

Jeff Mello is latest to join eMoney's talent exodus but CEO Ed O'Brien says it's healthy renewal at a firm that added several hundred people since Fidelity bought it

The ex-Goldman Sachs director of strategy and planning at eMoney joins a growing list of departures exacerbated, sources say, by Fidelity putting a wobbly performance reporting software project -- and staff -- on its plate

February 28, 2020 at 11:09 PM

See more related moves

Mentioned in this article:

Morningstar, Inc.
TAMP
Top Executive: Joe Mansueto



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