AssetMark CEO Eyes A Much Bigger Future

With a new CEO, a major acquisition, and the launch of a new business all in less than two months, it’s clear that AssetMark is becoming a very different company. Suddenly giants such as Envestnet and Schwab have a new challenger roiling their waters.

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“I’m excited about our future,” new CEO Natalie Wolfsen told Financial Advisor magazine.

To understand the potential of AssetMark’s future, it helps to review the recent past. The turning point was the surprising departure in late February of Charles Goldman from his role as chief executive and a member of the board and the naming of Wolfsen to helm the company.

Less than a week later AssetMark announced it was acquiring financial planning software provider Voyant.

That deal makes for an interesting combination. AssetMark’s primary business is one of the largest turnkey asset management platforms (TAMP) in the United States. The company had $74.5 billion in assets at the end of 2020.

Austin-based Voyant by contrast is a maker of financial planning software. It’s well-established in the UK and Canada, but has only recently begun to make inroads in the U.S. market.

The $145 million Voyant acquisition came just days after AssetMark launched AssetMark Institutional, a fully-assembled holistic solution that gives registered investment advisors (RIAs) a comprehensive set of products, operational support, technology, and community resources.



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