AssetMark launches solution to help advisors unlock tax efficiencies for clients

Firm announces new comprehensive addition to its wealth management platform.

Financial advisors using the AssetMark wealth management platform will now have access to a new suite of services to boost tax efficiency and outcomes for their clients’ taxable assets.

The firm has added Tax Management Services to its platform, a comprehensive offering of streamlined and seamless solutions, driven by advisors’ demand for services including tax transition, tax-efficient rebalancing, tax loss harvesting, and client-directed activity.

“Advisors have long sought a robust tax management solution, and we’ve delivered,” said David McNatt, head of investment solutions at AssetMark. “Our Tax Management Services provide advisors with the power to tailor portfolio strategies for each client’s unique financial goals, risk tolerance, and tax sensitivities, all within a seamless, client-centric process.”

The new solution enables advisors to personalize plans to align to each client’s tax sensitivities, risk tolerance, realized capital gains budget and investment preferences, along with reporting to ensure advisors can track their impact on clients’ portfolios. It was developed in collaboration with the firm’s clients.

“In today’s competitive landscape, advisors need every tool at their disposal to differentiate their services and deliver exceptional value that enables them to retain and deepen relationships with existing clients while growing their business,” McNatt added. “Tax planning is in high demand from investors, particularly from high-net-worth and emerging affluent clients who require more complex wealth management.”

Last year AssetMark had a change in leadership as Natalie Wolfsen stepped down as chief executive of AssetMark Financial Holdings to take over as the new CEO of Orion Advisor Solutions, a competing technology and turnkey asset management provider, to be succeeded by Michael Kim, a 13-year veteran of AssetMark.