Matt Matrisian, Senior Vice President for AssetMark, joined Julie Cooling, Founder and CEO of RIA Channel, to discuss how advisors can make more time to engage in activities that can enhance the organic growth of their firm.
AssetMark is a full-service wealth management platform that serves independent financial advisors with $150 billion in assets under management. Matrisian notes that AssetMark has moved beyond being just a turnkey asset management platform (TAMP) solution. AssetMark offers technology capabilities and a custody platform. AssetMark also works with multiple custody platforms, including Schwab, Fidelity, and Pershing.
AssetMark works with financial advisors who want to scale and enhance efficiencies in their firm. These advisors often focus on financial planning and are looking to outsource their investment, due diligence, technology, middle- and back-office needs.
Matrisian notes that the average financial advisor is experiencing 4% annual organic growth. AssetMark’s business consulting team can assist advisors with their growth plan, including strategies for digital marketing and referrals. The key to advisor growth is maximizing the time spent on activities that build the business, while outsourcing tasks that take time away from those vital activities.
AssetMark has a strong track record of helping advisors move up market to higher net worth clients. The firm works with advisors to define their service model and its segmentation of services across tiers, including a differentiated pricing model. AssetMark has solutions that help target the challenges faced by high-net-worth clients, including alternative investments, tax-management solutions, and concentrated stock positions. AssetMark’s TMS delivered 100 basis points of tax alpha to clients last year. AssetMark is now working to enhance its capabilities in solutions for advanced planning.
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