Enhancing Client Services
Through the partnership, financial advisers and clients from Morningstar Wealth’s TAMP will gain access to AssetMark’s platform, which includes adviser technology, business consulting, and a curated set of investment strategies. Morningstar Wealth will join AssetMark’s platform as a third-party strategist.
AssetMark assured that the account migration process will “generally not require” any additional new client paperwork, and clients’ performance histories will remain intact.
AssetMark to acquire $12B in assets from Morningstar : Leadership Comments
“This relationship represents best-in-class firms strategically aligning to provide innovative solutions and high-quality service to financial advisors and their clients,” said AssetMark CEO Michael Kim.
Recent Developments
The partnership announcement comes just two months after AssetMark revealed it agreed to be bought by private equity giant GTCR for roughly $2.7 billion, with the deal expected to close in the fourth quarter of this year.
