AssetMark Completes Purchase of Clark Capital's Turnkey Asset Management Program
CONCORD, Calif., Sept. 1, 2015 /PRNewswire/ -- AssetMark, Inc. announced today that it completed its purchase of the assets of Philadelphia-based Clark Capital Management Group's turnkey asset management program.
"With the closing of this transaction, we are thrilled to welcome the more than 650 Clark Capital advisors to the AssetMark platform," said Charles Goldman, President and CEO of AssetMark. "In the coming days, advisors working with AssetMark will see investment strategies from Clark Capital alongside the other portfolio strategists offered through AssetMark's carefully curated investment platform."
This includes Clark Capital's Personalized Unified Managed Account (PUMA) service, which adds sought-after capability for advisors and is exclusively available through AssetMark, as well as additional ETF and SMA solutions.
Clark Capital will continue to operate as an independent asset manager providing solutions to AssetMark as a third-party strategist and to other platforms through which it already distributes its solutions.
"The completion of the transaction allows us to concentrate on our core competency, asset management, while still maintaining the important relationships we have developed over the past 29 years," said Harry Clark, Chairman and CEO of Clark Capital.
About AssetMark, Inc.
AssetMark, Inc. is a leading independent provider of innovative investment and consulting solutions serving financial advisors. The firm provides investment, relationship and practice management solutions that advisors use to help clients achieve their investment objectives and life goals. AssetMark, Inc. and its affiliate, Aris Wealth Services, Inc., have approximately $27.5 billion in combined assets on their respective platforms and a history of innovation spanning over 20 years. For more information, visit https://www.assetmark.com/ and follow @AssetMark on Twitter.
About Clark Capital Management Group
Clark Capital Management Group is an asset management firm providing institutional quality investment solutions to individual investors, corporations, foundations, and retirement plans. The firm was founded in 1986 and has been entrusted with approximately $3.3 billion in assets. Our investment philosophy is driven by a single-minded focus: to add value for our collective clients. This focus requires us to seek superior risk-adjusted returns over full market cycles. It compels us to maintain a long-term perspective and provide innovative investment management solutions that enable clients to achieve their life cycle goals. For more information, visit ccmg.com and follow @ClarkCapital on Twitter.
MEDIA CONTACT:
Dana Taormina
JCPR
(973) 850-7305
[email protected]
SOURCE AssetMark
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article