Skip to main content

AssetMark Completes Acquisition of Adhesion Wealth

CONCORD, Calif., Dec. 15, 2022 (GLOBE NEWSWIRE) — AssetMark announced today the completion of its acquisition of Adhesion Wealth, a leading provider of wealth management technology solutions to RIAs, RIA enterprises, TAMPs and asset managers.

“AssetMark and Adhesion are officially united in pursuit of our shared mission to empower growth-focused advisors to deliver better investor outcomes while successfully growing their practices,” said Natalie Wolfsen, CEO of AssetMark. “Our combined suite of purpose-built solutions allows us to serve advisors across a wider spectrum of practice profiles and growth enablement preferences, and ultimately make a difference in the lives of more advisors and their clients.”

Adhesion is the industry’s second-largest model marketplace with over 400 asset managers. The platform provides its clients with outsourced overlay portfolio management services, client engagement technologies, and tailored managed account solutions for TAMPs and RIA enterprises.

“We are incredibly excited to be a part of AssetMark,” said Barrett Ayers, CEO of Adhesion. “Adhesion’s employees and clients will benefit greatly from AssetMark’s deep experience and scale. Our complementary strengths and cultural fit make AssetMark a natural partner, and together we can accomplish so much more for financial advisors.”        

For the foreseeable future, Adhesion will continue to operate commercially as a standalone business and will maintain its brand identity. AssetMark acquired total billable assets of $7.3 billion as of November 30, 2022 and paid $46 million plus transaction costs and contingent payments.

About AssetMark Financial Holdings, Inc.
AssetMark is a leading provider of extensive wealth management and technology solutions that power independent financial advisors and their clients. Through AssetMark, Inc., its investment advisor subsidiary registered with the Securities and Exchange Commission, AssetMark operates a platform that comprises fully integrated technology, personalized and scalable service and curated investment platform solutions designed to make a difference in the lives of advisors and their clients. AssetMark had $79.4 billion in platform assets as of September 30, 2022 and has a history of innovation spanning more than 25 years.

About Adhesion Wealth
Adhesion Wealth® is a leading provider of outsourced investment management solutions for registered investment advisors (RIAs). Adhesion Wealth empowers advisors with the ability to build their own multi-manager (UMA) strategies, access SMA strategies and use other turnkey investment solutions on the Adhesion Manager Exchange. Adhesion Wealth also provides advisors with personal and direct indexing, tax management, tax transitions, portfolio administration, practice analytics and client reporting. With Adhesion, advisors gain access to a scalable, multi-custodian platform upon which to grow successful practices.

Contacts
For AssetMark & Adhesion
Investors:
Taylor J. Hamilton, CFA
Head of Investor Relations
InvestorRelations@assetmark.com

Media:
Alaina Kleinman
Director, Communications & Public Relations
alaina.kleinman@assetmark.com

SOURCE: 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.