AssetMark taps former Envestnet RIA leader for new Charlotte hub

AssetMark has named Phill Rogerson as its new head of RIA sales, marking a significant move in the company’s push to expand its presence among independent advisors.

Rogerson, who previously led the RIA channel at Envestnet until parting ways with the fintech firm prior to joining AssetMark, will serve as senior vice president and head of the RIA channel, reporting to president and CEO Michael Kim.

Envestnet has experienced a period of significant change as of late. It's been roughly a year since the fintech giant agreed to a $4.5 billion take-private deal led by Bain Capital and Reverence Capital, with minority stakes retained by strategic partners including BlackRock, Fidelity Investments, Franklin Templeton and State Street Global Advisors.

More recently last month, Envestnet announced the sale of its data aggregation subsidiary Yodlee to private equity firm STG, signaling a renewed focus on its core wealth management platform. Immediately prior to that, the firm welcomed Sean Meighan, a veteran RIA leader from Atria and Lincoln Financial, to a newly created position as head of RIA distribution.

Alongside Rogerson's appointment, AssetMark revealed its new East Coast hub in Charlotte, North Carolina. The company is investing $10 million and plans to create 252 jobs in the region, which is home to more than 4,300 financial advisors.

The latest state-by-state data snapshot from the Investment Adviser Association counts 1,003 advisers in North Carolina, with 10,187 non-clerical employees and representing  some $2.8 trillion in AUM across 532,346 asset management clients.

With the addition of the Charlotte office, AssetMark now operates four main hubs across the country, including Concord, Phoenix and Chicago. The company, founded in 1996, employs more than 1,000 people and continues to expand its reach and capabilities for advisors nationwide.

The expansion is part of AssetMark’s broader strategy to strengthen its national footprint and tap into new talent pools.

“We are on a strong growth trajectory, scaling in key areas and geographies to become the leading independent wealth platform for financial advisors across broker-dealer, RIA and financial institution channels,” Kim said in a statement Tuesday. “The RIA channel is a critical growth driver for AssetMark, and Phill’s leadership and deep expertise will be instrumental as we execute on our strategy.”

Rogerson brings over three decades of experience in wealth and investment management. At Envestnet, he oversaw advisor relationships and the delivery of technology and investment solutions. His career also includes more than twenty years at Russell Investments, where he served as managing director of private client services.

“I couldn't be more excited to join AssetMark at such a pivotal time,” Rogerson said, highlighting the TAMP's acquisitions of Adhesion and Voyant, as well as its suite of integrated services for RIAs.

The move comes as AssetMark seeks to accelerate growth in the RIA segment, which has been one of the fastest-expanding areas in the wealth management industry. The company’s platform currently serves more than 10,700 financial advisors and over 317,000 investor households, with platform assets totaling more than $139 billion as of the end of 2024.

Correction: An earlier version of this story indicated that AssetMark hired Rogerson away from Envestnet. We regret the error.