AssetMark Brings CIBC Private Wealth High-Net-Worth Solution to AssetMark Platform

Rhea-AI Summary

AssetMark (NYSE: AMK) has partnered with CIBC Private Wealth to enhance investment management services for high-net-worth clients. This collaboration will provide AssetMark advisors access to CIBC Custom Portfolios, which offer tailored investment solutions and wealth planning strategies. The portfolios include a mix of equities and bonds designed for strong, risk-adjusted returns. David McNatt of AssetMark expressed enthusiasm for the partnership, highlighting its role in expanding high-net-worth solutions and enhancing the platform's offerings for advisors.

Positive

• Partnership with CIBC Private Wealth expands AssetMark's service offerings for high-net-worth clients.
• Access to tailored CIBC Custom Portfolios, which combine equities, bonds, and opportunistic strategies.
• Enhancement of customized wealth planning and investment management services.
• Competitive pricing for high-net-worth families seeking financial advisory.

Negative

• None.

CONCORD, Calif., Dec. 02, 2020 (GLOBE NEWSWIRE) -- AssetMark (NYSE: AMK) today announced it will offer CIBC Private Wealth investment management services and wealth planning expertise on the AssetMark platform to support financial advisors in serving the complex needs of high-net-worth and ultra-high-net worth clients.

CIBC Custom Portfolios offer tailored investment solutions, holistic wealth planning and high-touch service to support advisors and their clients, whether they’re designing a plan for managing family wealth, creating effective philanthropy strategies, or planning a business transition. CIBC Custom Portfolios are invested in a mix of equities, bonds, and opportunistic strategies, and designed to deliver strong, risk-adjusted returns.

AssetMark advisors and their clients will have access to a team of experienced CIBC Private Wealth Relationship Managers and Wealth Strategists who can help advisors demystify complexity and present clients with customized wealth plans. This custom investment management and comprehensive wealth planning solution is competitively priced and accessible for wealthy individuals and families.

“We are excited for this new collaboration with CIBC Private Wealth that expands the breadth of AssetMark’s high-net-worth solutions, delivering access to customized multi-asset class portfolios and deep wealth expertise that supports our community of advisors,” said David McNatt, SVP, Product Strategy, Development and Management at AssetMark. “The addition of CIBC custom portfolios builds upon AssetMark’s recent platform enhancements designed to provide advisors with customized solutions to meet the expanding needs of high-net-worth investors, including a streamlined securities-backed lending program¹ and diversifying and tax-aware strategies to help preserve capital.”

About AssetMark Financial Holdings, Inc.

AssetMark is a leading provider of extensive wealth management and technology solutions that help financial advisors meet the ever-changing needs of their clients and businesses. Through AssetMark, Inc., its investment adviser subsidiary registered with the U.S. Securities and Exchange Commission, AssetMark operates a platform that brings together fully integrated technology, personalized and scalable service, and curated investment solutions to support financial advisors and their businesses. For more than 20 years, AssetMark has focused on offering the solutions and services that help financial advisors grow. AssetMark had $67.3 billion in platform assets as of September 30, 2020. For more information visit assetmark.com.

About CIBC

CIBC is a leading North American financial institution with 10 million personal banking, business, public sector, and institutional clients. CIBC offers a full range of advice, solutions, and services in the United States, across Canada, and around the world. In the US, CIBC Bank USA provides commercial banking, private and personal banking, and small business banking solutions, and CIBC Private Wealth offers investment management, wealth strategies, and legacy planning. Visit us at cibc.com/US.

Private banking is offered by CIBC Bank USA, Member FDIC and Equal Housing Lender. CIBC Bank USA and CIBC Private Wealth Group, LLC are both indirect, wholly owned subsidiaries of CIBC. The CIBC logo is a registered trademark of CIBC, used under license. Investment Products Offered are Not FDIC-Insured, May Lose Value and are Not Bank Guaranteed.

SOURCE: AssetMark, Inc.

Contact:
Chris Blake
MSR Communications for AssetMark, Inc.
chris@msrcommunications.com

¹ Available at AssetMark Trust Company.

FAQ

What new services has AssetMark announced in partnership with CIBC Private Wealth?

AssetMark has announced the introduction of CIBC Custom Portfolios, providing tailored investment solutions and wealth planning services to support high-net-worth clients.

What are CIBC Custom Portfolios designed to achieve?

CIBC Custom Portfolios are designed to deliver strong, risk-adjusted returns through a mix of equities, bonds, and opportunistic strategies.

How will AssetMark advisors benefit from the new collaboration with CIBC?

AssetMark advisors will have access to experienced CIBC Private Wealth Relationship Managers and Wealth Strategists for customized wealth plans.

What is the total platform asset value reported by AssetMark as of September 30, 2020?

As of September 30, 2020, AssetMark reported a total platform asset value of $67.3 billion.