AssetMark and Cheetah Collaborate to Address Evolving Bank Trust and Wealth Management Needs
November 02 2023 - 4:15PM
AssetMark (NYSE: AMK), a leading provider of wealth management and
technology solutions for financial advisors, today announced a
collaboration with Cheetah, a cloud-based trust accounting system,
to address an emerging need in financial services.
Together, AssetMark and Cheetah are creating a
first-of-its-kind, seamless wealth management solution to address
the expanding intersection of trust services and investment
services with a digital ecosystem that sets both institutional
wealth managers and registered investment advisors up for
success.
A convergence of business models across financial services is
encouraging trust providers to facilitate more active management of
client assets, especially investment portfolios, and is encouraging
registered independent advisors to expand into trust services.
"Both Cheetah and AssetMark share the common goal of empowering
our clients to run and grow successful businesses,” said Adam
Unger, CEO of Cheetah. "Ultimately, this alliance is about seeing
where wealth management is moving and crafting an innovative
solution that strengthens our clients’ position as market
leaders.”
This exclusive arrangement represents AssetMark's continued
expansion into the bank trust channel, an integral part of the
firm's growth strategy, according to Michael Kim, CEO of
AssetMark.
"We're excited to partner with Cheetah to deliver a
comprehensive platform experience that combines Cheetah's superior
trust accounting services with our leading wealth management
capabilities," Kim said. “As demographics shift and competition
intensifies, banks are looking to deliver more value to their end
clients. Our combined offering provides flexibility and a strategic
edge for those looking to provide a holistic suite of
services."
AssetMark will join Cheetah's annual client conference, called
the Hunt, in November in Greenville, S.C., alongside more than 150
trust and wealth management professionals. Attendees will have the
opportunity to learn more about the exclusive relationship between
AssetMark and Cheetah and how it will advance trust and wealth in
the digital age.
For more information about the AssetMark and Cheetah
collaboration, please visit
https://info.assetmark.com/BankTrustServices.
About AssetMark Financial Holdings, Inc.
AssetMark operates a wealth management platform that powers
independent financial advisors and their clients. Together with our
affiliates Voyant and Adhesion Wealth, we serve advisors of all
models at every stage of their journey with flexible, purpose-built
solutions that champion client engagement and drive efficiency. Our
ecosystem of solutions equips advisors with services and
capabilities that would otherwise require significant investments
of time and money, ultimately enabling them to deliver better
investor outcomes and enhance their productivity, profitability,
and client satisfaction.
Founded in 1996 and based in Concord, California, the company
has over 1,000 employees. Today, the AssetMark platform serves
9,300 financial advisors and roughly 247,000 investor households.
As of June 30, 2023, the company had $100.8 billion in platform
assets.
About Cheetah Inc.
Cheetah Inc. provides software solutions for wealth managers
focused on growing their business and building revenue. Cheetah
Inc.'s mission is to provide wealth managers with the tools they
need to grow their business, provide exceptional service, and
increase operational efficiency. Cheetah Inc.'s flagship product,
Cheetah, is a comprehensive trust management platform that provides
trust managers with a digital solution to manage all aspects of
their client's wealth, from investment management and trades to
trust accounting and tax reporting. Cheetah has driven
modernization within the trust industry by creating innovative,
cloud-based solutions that incorporate state-of-the-art
technologies.
ContactsInvestors:Taylor J. Hamilton, CFAHead
of Investor RelationsInvestorRelations@assetmark.com
Media: Alaina KleinmanHead of PR &
Communicationsalaina.kleinman@assetmark.com
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