AssetMark adds Finance Logix financial planning software

Goal-planning tool to integrate with AssetMark's investment platform

Jan 30, 2014 @ 12:33 pm

By Joyce Hanson

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AssetMark Inc. announced Tuesday that it has added Finance Logix financial planning software to its eWealthManager investment platform for financial advisers.

The $21-billion-in-assets firm chose Finance Logix because its cash-flow management and goal-based planning models integrate well with the eWealthManager platform, AssetMark's new chief executive, Charles Goldman, said in a statement. Mr. Goldman replaced CEO Gurinder Ahluwalia earlier this month.

Oleg Tishkevich, president, chief executive and founder of Finance Logix, said he signed the platform integration contract in August 2013 with Mr. Ahluwalia when he was still CEO.

“I spoke to the new CEO last week, and what I like is that they're really committed to technology and making their platform more advanced,” Mr. Tishkevich said, adding that Finance Logix is now conducting 16 regional meetings in 10 days with hundreds of AssetMark advisers.

AssetMark, named Genworth Financial Wealth Management Inc. until November 2013, conducted a survey of its advisers last year, asking what they wanted in terms of a financial planning tool on the eWealthManager platform, which is used by Assetmark's approximately 6,000 advisory firms.

The majority said they were unhappy with the platform's current option and would use a new one if available, said Matt Matrisian, AssetMark's senior vice president and director of practice management.

“We've integrated our strategists' performance and risk data within the Finance Logix platform to make clients' likelihood of success more accurate,” said Mr. Matrisian, who added that Finance Logix won a 2013 TechLeaders Conference award for most innovative product of the year.

Later in 2014, AssetMark plans to develop a goals-based proposal system to complement Finance Logix, as well as a mobile application that will help advisers talk with clients about investing and risk appetite.

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