AssetMark Adds Morningstar Wealth as Third-Party Strategist

The wealth management technology provider AssetMark has added Morningstar Wealth as a third-party strategist on its platform.

The launch will enable financial advisors working with AssetMark to access a range of model portfolios and separately managed accounts, according to the announcement, with the addition coming about three months after AssetMark said it would acquire $12 billion in assets from Morningstar Wealth’s turnkey asset management platform.

“Adding these strategies to AssetMark’s platform is the latest step in our mission to empower advisors with the necessary resources and tools to best serve their clients, and another pivotal moment in our ongoing collaboration with Morningstar,” said David McNatt, executive vice president of investment solutions for AssetMark.

Among the newly available strategies for advisors working with AssetMark are Morningstar equity SMAs, which employ a valuation-driven approach to investing across market capitalization levels and global geographies, as well as Morningstar exchange-traded fund models focused on growth, income and risk alignment with investors’ goals.

Additionally, advisors will be able to access both passive and active models from Morningstar, covering strategies across different risk tolerances and tax sensitivities.

“Advisors are central to our mission of empowering investor success, and since announcing our collaboration in June, we have been looking forward to making our comprehensive and diversified strategies available to more advisors through the AssetMark platform,” added Daniel Needham, president of Morningstar Wealth.

As of June, the AssetMark platform serves over 9,200 financial advisors and over 261,000 investor households with a combined $119 billion in platform assets.

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