AssetMark Completes Acquisition of Key TAMP Business Assets in Strategic Alliance with Morningstar Wealth
AssetMark has completed the acquisition of Morningstar Wealth's TAMP assets, bringing $12 billion in assets to AssetMark's platform. The strategic alliance enhances AssetMark's investment solutions for financial advisors and their clients. Morningstar Wealth will continue as a third-party strategist on the AssetMark platform. The collaboration aims to provide advisors with access to expanded model portfolios, separately managed accounts (SMAs), and enhanced platform experiences. This acquisition strengthens AssetMark's market position and demonstrates its commitment to innovation and service excellence.
AssetMark ha completato l'acquisizione dei beni TAMP di Morningstar Wealth, portando 12 miliardi di dollari in asset sulla piattaforma di AssetMark. L'alleanza strategica migliora le soluzioni di investimento di AssetMark per i consulenti finanziari e i loro clienti. Morningstar Wealth continuerà a fungere da stratega terzo sulla piattaforma di AssetMark. La collaborazione mira a fornire ai consulenti un accesso a portafogli modello ampliati, conti gestiti separatamente (SMA) e esperienze della piattaforma potenziate. Questa acquisizione rafforza la posizione di mercato di AssetMark e dimostra il suo impegno verso l'innovazione e l'eccellenza del servizio.
AssetMark ha completado la adquisición de los activos TAMP de Morningstar Wealth, trayendo 12 mil millones de dólares en activos a la plataforma de AssetMark. La alianza estratégica mejora las soluciones de inversión de AssetMark para los asesores financieros y sus clientes. Morningstar Wealth continuará como un estratega independiente en la plataforma de AssetMark. La colaboración tiene como objetivo proporcionar a los asesores acceso a carteras modelo ampliadas, cuentas administradas por separado (SMA) y experiencias mejoradas en la plataforma. Esta adquisición refuerza la posición de mercado de AssetMark y demuestra su compromiso con la innovación y la excelencia en el servicio.
AssetMark는 Morningstar Wealth의 TAMP 자산을 인수하여 120억 달러의 자산을 AssetMark 플랫폼에 추가했습니다. 전략적 제휴는 AssetMark의 금융 고문 및 고객을 위한 투자 솔루션을 강화합니다. Morningstar Wealth는 AssetMark 플랫폼에서 제3자 전략가로 계속 활동할 것입니다. 이 협력은 고문들이 확장된 모델 포트폴리오, 개별 관리 계좌(SMA), 그리고 향상된 플랫폼 경험에 접근할 수 있도록 하는 것을 목표로 합니다. 이번 인수는 AssetMark의 시장 입지를 강화하고 혁신과 서비스 우수성에 대한 헌신을 보여줍니다.
AssetMark a terminé l'acquisition des actifs TAMP de Morningstar Wealth, apportant 12 milliards de dollars d'actifs à la plateforme d'AssetMark. L'alliance stratégique renforce les solutions d'investissement d'AssetMark pour les conseillers financiers et leurs clients. Morningstar Wealth continuera en tant que stratégiste tiers sur la plateforme d'AssetMark. La collaboration vise à fournir aux conseillers un accès à des portefeuilles modèles élargis, à des comptes gérés séparément (SMA) et à des expériences améliorées sur la plateforme. Cette acquisition renforce la position de marché d'AssetMark et démontre son engagement envers l'innovation et l'excellence du service.
AssetMark hat die Akquisition der TAMP-Aktivitäten von Morningstar Wealth abgeschlossen und bringt 12 Milliarden Dollar an Vermögenswerten auf die AssetMark-Plattform. Die strategische Allianz verbessert die Anlage-lösungen von AssetMark für Finanzberater und deren Kunden. Morningstar Wealth wird weiterhin als Drittanbieter-Strategist auf der AssetMark-Plattform tätig sein. Die Zusammenarbeit zielt darauf ab, Beratern den Zugang zu erweiterten Modellportfolios, separat verwalteten Konten (SMAs) und verbesserten Plattform-Erfahrungen zu ermöglichen. Diese Akquisition stärkt die Marktposition von AssetMark und zeigt sein Engagement für Innovation und Servicequalität.
- Acquisition brings $12 billion in assets to AssetMark's platform
- Expands investment solutions portfolio with Morningstar's model portfolios and SMAs
- Strategic alliance with a major industry player enhances market position
- Increases platform scale and capabilities
- None.
Insights
The acquisition of Morningstar Wealth's TAMP assets represents a significant strategic expansion for AssetMark, bringing in
The transaction should drive revenue growth through increased AUM fees and create operational synergies. With Morningstar continuing as a third-party strategist, this partnership model allows AMK to benefit from Morningstar's research expertise while maintaining control over the platform infrastructure. For investors, this indicates strong execution of AMK's growth strategy and potential for improved margins through increased scale.
This acquisition positions AssetMark strategically in the rapidly consolidating wealth management technology sector. The TAMP (Turnkey Asset Management Platform) market is experiencing significant growth as advisors increasingly seek comprehensive technology solutions. The partnership with Morningstar, a highly respected name in financial services, provides AMK with enhanced credibility and competitive differentiation in attracting high-net-worth clients. The deal structure, combining asset acquisition with ongoing collaboration, creates multiple revenue streams while minimizing integration risks.
CONCORD, Calif., Dec. 02, 2024 (GLOBE NEWSWIRE) -- AssetMark, Inc., a leading provider of wealth management and technology solutions for financial advisors, today announced the close of its acquisition of Morningstar Wealth’s Turnkey Asset Management Platform (TAMP) assets. This acquisition, a key milestone in the strategic alliance between AssetMark and Morningstar Wealth, brings approximately
“The alliance between Morningstar Wealth and our acquisition of their TAMP assets marks a significant milestone for our company, our advisors, and their clients,” said Michael Kim, President and CEO of AssetMark. “We are thrilled to welcome advisors that currently utilize Morningstar Wealth to the AssetMark Platform. These advisors will gain access to our expansive suite of renowned investment solutions, tailored high-net-worth services, cutting-edge technology, and exceptional service, empowering them to scale and grow their businesses more efficiently. Additionally, this alliance will provide our existing advisors with access to an enhanced range of model portfolios and separately managed accounts (SMAs) from the Morningstar Investment Management team.”
Lou Maiuri, Chairman and Group CEO of AssetMark Financial Holdings, Inc., highlighted the strategic importance of the deal: 'This acquisition is a key step in advancing our long-term strategy, enhancing both our scale and capabilities to deliver even greater value to our clients. By aligning with respected industry leaders like Morningstar Wealth, we are further strengthening our position as a premier provider of comprehensive wealth management solutions.'"
The collaboration between AssetMark and Morningstar represents a powerful combination of two trusted names in financial services, each dedicated to advancing outcomes for financial advisors. As part of the collaboration, Morningstar Wealth will continue to serve as a third-party strategist on the AssetMark platform, enriching the breadth of investment services available.
"We are proud to advance our strategic alliance with AssetMark. This milestone paves the way for a smooth transition of accounts and gives advisors access to an enhanced platform experience,” said Daniel Needham, President of Morningstar Wealth. “Since launching on AssetMark, our strategies have been well received by advisors, demonstrating how each firm's distinct strengths and capabilities are coming together to empower advisor success.”
This acquisition further strengthens AssetMark’s position and reaffirms its commitment to innovation, scale, and service excellence. AssetMark looks forward to deepening its collaboration with Morningstar Wealth as they work together to expand opportunities for advisors and deliver enhanced outcomes for investors.
About AssetMark
AssetMark operates a wealth management platform whose mission is to help financial advisors and their clients. AssetMark, together with its affiliates AssetMark Trust Company, Voyant, and Adhesion Wealth Advisor Solutions, serves advisors at every stage of their journey with flexible, purpose-built solutions that champion client engagement and drive efficiency. Its ecosystem of solutions equips advisors with services and capabilities to help deliver better investor outcomes by enhancing their productivity, profitability, and client satisfaction.
With a history going back to 1996, AssetMark has over 1,000 employees, and its platform serves over 9,000 financial advisors and over 263,000 investor households. As of September 30, 2024, the Company had over
About Morningstar Wealth
Morningstar Wealth is a global organization dedicated to empowering the success of advisors and individual investors alike. Our extensive range of offerings includes the Morningstar International Wealth Platform; investment strategies such as Model Portfolios and SMAs managed by the Morningstar Investment Management team, with
About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment insights in North America, Europe, Australia, and Asia. The Company offers an extensive line of products and solutions that serve a wide range of market participants, including individual and institutional investors in public and private capital markets, financial advisors and wealth managers, asset managers, retirement plan providers and sponsors, and issuers of fixed-income securities. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, debt securities, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with approximately
Media Contacts:
AssetMark
Vesselina.Davenport@assetmark.com
Morningstar Wealth
newsroom@morningstar.com
FAQ
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