Technology Investment Platforms Turnkey Asset Management

Orion Taps AssetMark CEO to Replace Eric Clarke

News September 10, 2023 at 11:47 AM
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Orion Advisor Solutions says Natalie Wolfsen, formerly CEO of AssetMark, will become its new CEO in mid-October 2023 — when she also will join Orion's board of directors. The news comes 16 weeks after current CEO Eric Clarke announced his plans to retire by year-end. 

Wolfsen joined AssetMark in 2014 as its chief commercialization officer and also served as its chief solutions officer before being named CEO in early 2021. In addition, she has worked for financial services firms like First Eagle Investment Management (2011-2014), BNY Mellon Pershing (2009-2011), Charles Schwab (1999-2009) and American Express (1996-1998).  

"On behalf of Orion's board … , I am thrilled to welcome Natalie Wolfsen next month as we usher in a new era of growth and innovation at Orion," explained Orion Executive Board Chair Charles Goldman. "Orion is uniquely positioned … to meet the evolving needs of independent fiduciary advisors." 

Goldman — who was chairman, CEO and director of AssetMark from 2014 to 2021 — led the firm's search for a new CEO. He joined Orion's board a year ago and also serves on the strategic advisory board of the private equity firm Genstar Capital.

Orion says all of its platform services — including Redtail Technology and Orion OCIO — had some $3.8 trillion in assets under administration and $64.3 billion of wealth management platform assets as of June 30. 

For its part, AssetMark's turnkey asset management program (or TAMP) had about $101 billion of assets as of June 30; the firm works with about 9,300 financial advisors. On Friday, it named President and Chief Client Officer Michael Kim as its new CEO.

"I'm enthusiastic about Natalie joining Orion. [She] shares our vision for empowering financial advisors so they can serve their clients more effectively," Clarke said in a statement. "She has my full support, and I'm committed to managing a smooth transition for our clients and team members. I look forward to Natalie leading our team into the future."

After Wolfsen starts work at Orion, Clarke will move into a "supporting leadership role until the end of 2023," the firm says, and will remain a member of its board.

Pictured: Natalie Wolfsen

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