AssetMark to Buy Voyant for $145M
Summary
Turnkey asset management platform provider AssetMark plans to acquire Voyant, a provider of Software-as-a-Service (SaaS)-based financial planning and client digital engagement solutions, in a cash and stock transaction totaling $145 million. The news comes as Natalie Wolfsen takes the helm as AssetMark’s CEO and Michael Kim becomes its president, after a management reshuffle was announced last week. “Voyant’s fit into the AssetMark platform aids in creating stronger client-advisor relationships,” Wolfsen said in a statement. “This leads to more invested assets and greater loyalty on our platform, while also helping us attract new advisors in core and adjacent channels.” The Voyant acquisition “advances the AssetMark financial wellness vision by adding compelling digital capabilities” to AssetMark’s platform, the companies said. AssetMark has $74.5 billion in assets under management and serves over 8,400 financial advisors with its technology, investment solutions and business consulting services.