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AssetMark widens offensive on Envestnet by creating SMA mini-market after canceling the product line in 2017 as demand for direct stock ownership shoots up

The Concord, Calif., company, with $85 billion in TAMP assets, is rebooting with tighter manager curation and software that allows SMAs to work better in a portfolio with non-SMA products -- namely ETFs.

Author Brooke Southall September 14, 2021 at 10:26 PM
1 Comment
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David McNatt: It's not about having a supermarket.

TAMPs


Jeff Spears

Jeff Spears

September 15, 2021 — 2:09 PM
Seems like we have too many CIOs in the client service kitchen.

Related Moves

January 22, 2025 at 2:43 AM

Under new owner, AssetMark names new CEO, but Michael Kim is keeping his CEO job, too -- as post-TAMP era draws near, and company gears up for 'aggressive growth'

The Concord, Calif., TAMP is adding the second CEO to jack up leadership bandwidth to grow organically and inorganically -- and evolve into a more generalized outsourcer.

September 11, 2024 at 4:12 AM

SMArtX is loading up on Envestnet talent as re-peopling rolls on -- post Morningstar disruption -- with two hires from the Berwyn, Pa., TAMP

The West Palm Beach, Fla., TAMP is getting Courtney Robertiello and Jacqueline Burke, and their staggering 29 years of experience for 'growth and innovation,' the company says.

July 4, 2024 at 2:09 AM

Morningstar's sale of TAMP's $12-billion book-of-business to AssetMark ends two-year run that fell short on growth; whether RIAs stick or flee will determine fate of deal

Morningstar nets a cash windfall, a better distribution deal, and it reduces conflicts with its clients, but SMArtX is the likely loser, which will no longer administer Morningstar's TAMP assets.

June 24, 2024 at 11:48 PM

See more related moves

Mentioned in this article:

Envestnet Inc
TAMP
Top Executive: Jud Bergman



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