AssetMark Enhances Advisor Offerings with Expanded Cash Solutions Suite
AssetMark (NYSE: AMK) has expanded its Cash Solutions suite, adding FDIC-insured certificates of deposit (CD Plus) and purchased Money Market Funds (MMFs). This strategic move aims to tap into an estimated $8 billion share of wallet opportunity in the wealth client cash holding space. The enhanced suite offers advisors tools to capitalize on elevated interest rates, providing FDIC insurance coverage on multi-million-dollar cash balances, competitive rates, and flexible terms.
AssetMark's initiative goes beyond traditional rate shopping, equipping advisors with products and resources for consultative conversations about clients' short-term funding needs. The expanded suite enables advisors to create custom solutions across different return, risk, and liquidity profiles, potentially generating higher returns on cash holdings compared to traditional savings accounts.
AssetMark (NYSE: AMK) ha ampliato la sua suite di Cash Solutions, aggiungendo certificati di deposito assicurati dalla FDIC (CD Plus) e fondi del mercato monetario acquistati (MMFs). Questa mossa strategica mira a sfruttare un'opportunità stimata di 8 miliardi di dollari nel portafoglio dei clienti nell'ambito delle disponibilità liquide. La suite migliorata offre agli advisor strumenti per capitalizzare i tassi di interesse elevati, fornendo copertura assicurativa FDIC su saldi di cassa multimilionari, tassi competitivi e termini flessibili.
Iniziativa di AssetMark va oltre la semplice ricerca di tassi, fornendo agli advisor prodotti e risorse per conversazioni consultative riguardo alle necessità di finanziamento a breve termine dei clienti. La suite ampliata consente agli advisor di creare soluzioni personalizzate che considerano diversi profili di rendimento, rischio e liquidità, potenzialmente generando rendimenti più elevati sulle disponibilità liquide rispetto ai conti di risparmio tradizionali.
AssetMark (NYSE: AMK) ha ampliado su suite de Soluciones de Efectivo, añadiendo certificados de depósito asegurados por la FDIC (CD Plus) y fondos del mercado monetario comprados (MMFs). Este movimiento estratégico tiene como objetivo aprovechar una oportunidad estimada de 8 mil millones de dólares en el portafolio de los clientes en el ámbito de las reservas de efectivo. La suite mejorada ofrece a los asesores herramientas para capitalizar las tasas de interés elevadas, proporcionando cobertura de seguro de la FDIC en saldos de efectivo multimillonarios, tasas competitivas y condiciones flexibles.
La iniciativa de AssetMark va más allá de la simple búsqueda de tasas, equipando a los asesores con productos y recursos para conversaciones consultivas sobre las necesidades de financiamiento a corto plazo de los clientes. La suite ampliada permite a los asesores crear soluciones personalizadas en diferentes perfiles de retorno, riesgo y liquidez, lo que potencialmente genera mayores rendimientos en reservas de efectivo en comparación con cuentas de ahorros tradicionales.
AssetMark (NYSE: AMK)는 현금 솔루션 제품군을 확장하여 FDIC 보증 예금 증서 (CD Plus)와 구매된 머니 마켓 펀드 (MMFs)를 추가했습니다. 이 전략적 조치는 부유한 고객의 자산 보유 공간에서 약 80억 달러 규모의 기회를 활용하는 것을 목표로 하고 있습니다. 개선된 제품군은 자문에게 높은 이자율을 활용할 수 있는 도구를 제공하여 수백만 달러의 현금 잔고에 대한 FDIC 보험 적용, 경쟁력 있는 이자율 및 유연한 조건을 제공합니다.
AssetMark의 이니셔티브는 전통적인 이자율 쇼핑을 넘어 고객의 단기 자금 요구에 대한 상담 대화를 위한 제품 및 리소스를 제공하여 자문을 훈련시킵니다. 확장된 제품군은 자문이 다양한 수익, 위험 및 유동성 프로필에 걸쳐 맞춤형 솔루션을 생성할 수 있게 하여 전통적인 저축 계좌에 비해 현금 보유에 더 높은 수익을 잠재적으로 창출할 수 있습니다.
AssetMark (NYSE: AMK) a élargi sa gamme de solutions de liquidités en ajoutant des certificats de dépôt assurés par la FDIC (CD Plus) et des fonds du marché monétaire achetés (MMFs). Ce mouvement stratégique vise à exploiter une opportunité estimée à 8 milliards de dollars dans le portefeuille de liquidités des clients. La gamme améliorée offre aux conseillers des outils pour tirer parti des taux d'intérêt élevés, en fournissant une couverture d'assurance FDIC sur des soldes de liquidités multimillionnaires, des taux compétitifs et des conditions flexibles.
L'initiative d'AssetMark va au-delà de la simple recherche de taux, en équipant les conseillers avec des produits et des ressources pour des conversations consultatives sur les besoins de financement à court terme de leurs clients. La gamme élargie permet aux conseillers de créer des solutions personnalisées en fonction de différents profils de rendement, de risque et de liquidité, générant potentiellement des rendements plus élevés sur les liquidités par rapport aux comptes d'épargne traditionnels.
AssetMark (NYSE: AMK) hat sein Cash Solutions Portfolio erweitert und FDIC-versicherte Einlagenzertifikate (CD Plus) und kaufte Geldmarktfonds (MMFs) hinzugefügt. Dieser strategische Schritt zielt darauf ab, ein geschätztes 8 Milliarden Dollar großes Potenzial im Vermögensbereich von Kunden für liquide Mittel zu nutzen. Die erweiterte Produktpalette bietet Beratern Instrumente, um von erhöhten Zinssätzen zu profitieren, indem FDIC-Versicherungsschutz für mehrmalige Millionenbeträge in bar, wettbewerbsfähige Zinssätze und flexible Konditionen angeboten werden.
Die Initiative von AssetMark geht über traditionelle Zinssatzvergleiche hinaus und stattet Berater mit Produkten und Ressourcen für beratende Gespräche zu den kurzfristigen Finanzierungsbedarfen ihrer Kunden aus. Die erweiterte Palette ermöglicht es Beratern, maßgeschneiderte Lösungen über verschiedene Rendite-, Risiko- und Liquiditätsprofile hinweg zu entwickeln, was potenziell höhere Renditen auf Bargeldbestände im Vergleich zu traditionellen Sparkonten generiert.
- Expansion into an estimated $8 billion market opportunity in wealth client cash holdings
- Introduction of FDIC-insured CD Plus and purchased Money Market Funds
- Potential for higher returns on cash holdings due to elevated interest rates
- Enhanced ability to attract new clients with holistic wealth planning approach
- None.
Insights
AssetMark's expansion of its Cash Solutions suite is a strategic move to tap into the
AssetMark's expansion is well-timed, capitalizing on a significant market trend. With elevated interest rates, there's increased demand for cash management solutions that offer better yields than traditional savings accounts. This move could help AssetMark capture market share from both traditional banks and competing wealth management platforms. The emphasis on integrating cash management into wealth planning conversations also aligns with the growing trend of holistic financial planning. However, the success of this initiative will depend on advisor adoption and client education. AssetMark will need to provide robust training and support to ensure advisors can effectively leverage these new tools in their client conversations.
AssetMark's expansion of its Cash Solutions suite represents a technological enhancement to its wealth management platform. The integration of new products like CD Plus and purchased MMFs likely required significant backend development to ensure seamless account management and reporting. This tech upgrade could provide AssetMark with a competitive edge in user experience and operational efficiency. However, the company must ensure robust cybersecurity measures to protect the increased cash holdings and sensitive client data. Additionally, AssetMark should focus on developing intuitive interfaces and tools that allow advisors to easily incorporate these new cash solutions into their existing workflows and client presentations.
CONCORD, Calif., Aug. 12, 2024 (GLOBE NEWSWIRE) -- AssetMark (NYSE: AMK), a leading wealth management platform for financial advisors, today announced the expansion of its Cash Solutions suite with the addition of FDIC-insured certificates of deposit (CD Plus) and purchased Money Market Funds (MMFs). This strategic initiative enhances AssetMark's existing offerings, empowering advisors to capitalize on the estimated
“Cash is a critical component of any sound financial plan, yet it has often been overlooked,” said David McNatt, EVP, Head of Investment Solutions at AssetMark. “With elevated interest rates for the first time in decades, AssetMark Cash Solutions provides advisors a compelling value proposition to help clients capitalize on this environment and improve their short and long-term financial outcomes. By integrating cash management into the wealth planning conversation, advisors can demonstrate their strategic value and strengthen client relationships.”
AssetMark Cash Solutions suite transcends traditional “rate shopping” by equipping advisors with compelling products, professional guidance, and robust resources necessary to engage in consultative conversations about clients' short-term funding needs and goals. AssetMark newly launched CD Plus provides FDIC insurance coverage on multi-million-dollar cash balances, competitive rates, flexible terms, and convenient account management, enabling clients to save smarter. Combined with the recent launch of purchased money market funds and a suite of existing cash and short-term liquidity products, AssetMark is enabling advisors to create custom solutions that meet their clients' needs across different return, risk, and liquidity profiles.
AssetMark Cash Solutions empowers advisors to enhance client outcomes by improving portfolio diversification, managing cash flow, and optimizing short-term funding goals. Advisors can leverage historically high interest rates to potentially generate higher returns on cash holdings compared to traditional savings accounts. Furthermore, providing diverse and personalized cash management solutions can attract new clients seeking a holistic approach to wealth planning.
This is for informational purposes only, is not a solicitation, and should not be considered investment, legal, or tax advice. Investors seeking more information should consult with their financial advisor.
Investments are not FDIC insured, not bank guaranteed, and can lose value.
Investing involves risk, including the possible loss of principal. Past performance does not guarantee future results.
About AssetMark
AssetMark operates a wealth management platform that powers independent financial advisors and their clients. Together with our affiliates Voyant and Adhesion Wealth, we serve advisors of all models at every stage of their journey with flexible, purpose-built solutions that champion client engagement and drive efficiency. Our ecosystem of solutions equips advisors with services and capabilities that would otherwise require significant investments of time and money, ultimately enabling them to deliver better investor outcomes and enhance their productivity, profitability, and client satisfaction.
Founded in 1996 and based in Concord, California, the company has over 1,000 employees. Today, the AssetMark platform serves over 9,200 financial advisors and over 261,000 investor households. As of June 30, 2024, the company had
Contacts
Investors:
Taylor J. Hamilton, CFA
Head of Investor Relations
InvestorRelations@assetmark.com
Media:
Vesselina Davenport
Manager, PR & Communications
Vesselina.Davenport@assetmark.com
FAQ
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