Articles tagged "AssetMark"
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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
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
Morningstar nets a cash windfall, a better distribution deal, and it reduces conflicts with its clients, but SMArtX is the likely loser, which will no longer administer Morningstar's TAMP assets.
June 24, 2024 at 11:48 PM
Things just keep getting better for new AssetMark CEO Michael Kim, whose company will now go private so he can 'untangle spaghetti' without public scrutiny
Known for sales accountability, the Fidelity veteran waited in the wings for decades and now GCTR has swooped in with cash, belief and a rewinding of the clock so he can evolve and grow AssetMark
April 27, 2024 at 1:40 AM
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
December 21, 2023 at 4:18 AM
SEC crackdown on 'set-and-forget' advice alarms RIAs, who face new 'burdensome' and 'expensive' reporting to curb alleged 'conflicts of interest' over 'deceptive' outsourcing
The spike in RIAs outsourcing functions formerly kept in-house triggered the crackdown, but is the red tape worth it? advisors ask
November 15, 2022 at 3:59 AM
Vestmark sells Adhesion to AssetMark after quickly (nearly) tripling the 'RIA' unit's AUM, but AssetMark will plow cash into an upgrade
The Concord, Calif. company announced the deal for the Charlotte, N.C., UMA provider and direct-indexing vendor amid sinking markets.
June 15, 2022 at 12:40 AM
AssetMark lets RightCapital sell financial planning software to its advisors -- with data synching -- despite just buying Voyant for $145 million
The $90-billion Concord, Calif.-based TAMP's API connection also follows one with MoneyGuidePro before the acquisition and an SEI deal to integrate with Right Capital
February 19, 2022 at 2:43 AM
GeoWealth raises $19 Million to out-tech Orion, SEI, AssetMark and Envestnet on RIA outsourcing but then goes after their talent, too
The Chicago TAMP grew fourfold in four years before J.P. Morgan Asset Management and Kayne Anderson Capital Advisors made a big investment in the recharged no-name
January 22, 2022 at 3:15 AM
AssetMark widens offensive on Envestnet by creating SMA mini-market after canceling the product line in 2017 as demand for direct stock ownership shoots up
The Concord, Calif., company, with $85 billion in TAMP assets, is rebooting with tighter manager curation and software that allows SMAs to work better in a portfolio with non-SMA products -- namely ETFs.
September 14, 2021 at 10:26 PM
After $2-billion asking price for Ascensus gets no bites, Genstar and Aquiline opt to sell 25% stake to juice roll-up kitty
Atlas Merchant Capital and GIC are the new financiers but the capital raise suggests inorganic growth is still Plan A
March 11, 2019 at 6:39 PM
AssetMark CEO Charles Goldman grabs $5.7B Global Financial out from under rival Envestnet's nose, gets ex-Curian CEO and solidifies his firm's own future in the brutal TAMP game; but don't call it a roll-up
At number two in TAMP ranks, the Concord, Calif.-based TAMP with $46 billion bought Global Financial, whose CEO headed Curian in its growth years and got out well before its death
August 25, 2018 at 1:52 AM
AssetMark records 'off the charts' year and SEI is 'right on track' after staggering $1-billion platform overhaul
Concord, Calif.-based TAMP added $10 billion of AUM, 900 advisors after hiring TD Ameritrade's Veo API fintech star
February 23, 2018 at 4:39 PM
Determined to out-Joe-Duran Duran's United Capital, Dave Welling moves his $12B roll-up's HQ to Denver
As Mercer's torrid growth accelerates, its new CEO will hyper-unify investments and operations, make deals, pit software vendors against each other and hire like crazy
February 14, 2018 at 6:18 PM
In poaching coup, Charles Goldman hires open-API wizard Mukesh Mehta to AssetMark from Cetera
The legendary chief information officer headed Schwab Institutional's efforts before shepherding in TD Ameritrade's legendary open API
March 15, 2017 at 8:09 PM
Charles Goldman's turnaround of Genworth castoff leads Chinese investor to pay stunning price
AssetMark grew from $21 billion of AUM to $29 billion but PE firms made quick 300% return
