An industry-shaking deal that AssetMark inked with Morningstar this summer appears to be bearing fruit.
The TAMP provider announced Thursday that it has rolled out a new suite of investment strategies from Morningstar Wealth on its platform, enhancing its offerings for financial advisors.
The expansion to AssetMark's offerings aligns with an acquisition agreement with Morningstar Wealth that caught headlines in June. Under that deal, which is expected to close by the end of the year AssetMark would acquire approximately $12 billion in assets from Morningstar Wealth’s TAMP.
The addition of Morningstar Wealth’s model portfolios and separately managed accounts gives AssetMark advisors access to a broader range of investment options. Morningstar’s Investment Management team, which oversees approximately $316 billion in assets globally, brings its expertise in equity strategies, ETF models, and active/passive portfolios to the AssetMark platform.
David McNatt, executive vice president of investment solutions at AssetMark, hailed Morningstar's established history as a source of "industry-leading investment products and insights" for investors.
"Adding these strategies to AssetMark’s platform is the latest step in our mission to empower advisors with the necessary resources and tools to best serve their clients, and another pivotal moment in our ongoing collaboration with Morningstar,” McNatt said in a statement.
Among the new offerings, Morningstar Equity SMAs provide advisors with seven strategies that cover a range of market capitalizations in both US and international markets, focusing on long-term growth. The platform is also adding ETF models, including diversified core portfolios aimed at achieving growth and income.
AssetMark is also bolstering its shelf with active/passive models from Morningstar, billed as flexible strategies that balance active and passive investments across varying levels of risk and tax sensitivity.
“Advisors are central to our mission of empowering investor success," said Morningstar Wealth President Daniel Needham, who was appointed to lead the unit when it launched in 2022. "[S]ince announcing our collaboration in June, we have been looking forward to making our comprehensive and diversified strategies available to more advisors through the AssetMark platform."
AssetMark's expansion of its TAMP offerings comes just a week after it announced the successful completion of its $2.7 billion take-private deal with GTCR, which saw industry veteran Lou Maiuri appointed as AssetMark's new chairman and group CEO.
From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.
Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.
“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.
Sellers shift focus: It's not about succession anymore.
Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
