AssetMark Closes on the Acquisition of OBS Financial

Written by Customer Service on . Posted in Mergers And Acquisitions.

CONCORD, Calif., March 02, 2020 (GLOBE NEWSWIRE) — AssetMark Financial Holdings, Inc., announced the completion of its acquisition of OBS Financial, a $2 billion-plus turnkey asset management platform and a subsidiary of Canandaigua National Corporation. By completing the transaction, AssetMark will acquire new relationships with OBS’ 300+ financial advisors and 21 banks that serve 6,500 investors.
“We are excited to welcome OBS advisors and bank clients to AssetMark,” said Charles Goldman, President and CEO of AssetMark. “Through this transaction we will bring AssetMark’s compelling technology, curated investments, and world-class service to OBS’ clients. The transaction also provides AssetMark with the opportunity to serve bank trust advisors which is an important element of our growth strategy.”Over the coming months, AssetMark and OBS will work together to integrate advisors, bank trust officers, and clients, where appropriate, into AssetMark’s systems and infrastructure. AssetMark’s platform integrates streamlined processes with robust planning and analytics tools in a technology experience that helps advisors scale and share insights with clients. It also combines personalized service and investment management solutions that include well‐known and custom high‐net-worth solutions.With over 20 years of experience, AssetMark has a long history of helping advisors succeed; and offers dedicated thought leadership and practice management tools and resources to help advisors realize untapped opportunities and equip them for success. Through AssetMark’s Advisor Benefits Program, advisors receive one‐on‐one business consulting support, specialized services, and invitations to exclusive meetings and events. Plus, AssetMark’s service teams are segmented to provide the highest levels of service and support in the industry, including expert hands‐on guidance, operational support, and overall efficiency.ECHELON Partners served as the exclusive financial advisor to OBS and Canandaigua in this transaction.About AssetMark Financial Holdings, Inc.AssetMark Financial Holdings, Inc. (NYSE: AMK) is a leading provider of extensive wealth management and technology solutions that power independent financial advisors and their clients. AssetMark, Inc., an investment adviser registered with the U.S. Securities and Exchange Commission, operates a platform that comprises fully integrated technology, personalized and scalable service, and curated investment solutions designed to make a difference in the lives of advisers and their clients. AssetMark has $61.6 billion in platform assets as of December 31, 2019 and a history of innovation spanning more than 20 years.About OBS FinancialOBS is an investment advisor registered with the U.S. Securities and Exchange Commission. They provide investment and operations outsourcing services to financial institutions and advisors around the country. Their clients include bank trust departments, retail broker-dealer advisors, independent financial advisors, and retirement plan professionals. OBS offers an array of fee-based portfolios and platforms intended to help advisors, trust offices and their clients.About Canandaigua National CorporationCanandaigua National Corporation and its subsidiaries provide a full range of financial services, including commercial and personal banking, mortgage, trust, estate, investment, and insurance services to individuals, businesses, corporations, and municipalities. ContactsInvestors:
Taylor J. Hamilton, CFA
Head of Investor Relations
investorrelations@assetmark.comMedia:
Lexy Siegel
Group Gordon 
lsiegel@groupgordon.comSOURCE: AssetMark Financial Holdings, Inc.

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.