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Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

AssetMark Enhances Advisor Offerings with Expanded Cash Solutions Suite

CONCORD, Calif., Aug. 12, 2024 (GLOBE NEWSWIRE) -- AssetMark (NYSE: AMK), a leading wealth management platform for financial advisors, today announced the expansion of its Cash Solutions suite with the addition of FDIC-insured certificates of deposit (CD Plus) and purchased Money Market Funds (MMFs). This strategic initiative enhances AssetMark's existing offerings, empowering advisors to capitalize on the estimated $8 billion share of wallet opportunity within the wealth client cash holding space, as identified by AssetMark's analysis.

“Cash is a critical component of any sound financial plan, yet it has often been overlooked,” said David McNatt, EVP, Head of Investment Solutions at AssetMark. “With elevated interest rates for the first time in decades, AssetMark Cash Solutions provides advisors a compelling value proposition to help clients capitalize on this environment and improve their short and long-term financial outcomes. By integrating cash management into the wealth planning conversation, advisors can demonstrate their strategic value and strengthen client relationships.”

AssetMark Cash Solutions suite transcends traditional “rate shopping” by equipping advisors with compelling products, professional guidance, and robust resources necessary to engage in consultative conversations about clients' short-term funding needs and goals. AssetMark newly launched CD Plus provides FDIC insurance coverage on multi-million-dollar cash balances, competitive rates, flexible terms, and convenient account management, enabling clients to save smarter. Combined with the recent launch of purchased money market funds and a suite of existing cash and short-term liquidity products, AssetMark is enabling advisors to create custom solutions that meet their clients' needs across different return, risk, and liquidity profiles.

AssetMark Cash Solutions empowers advisors to enhance client outcomes by improving portfolio diversification, managing cash flow, and optimizing short-term funding goals. Advisors can leverage historically high interest rates to potentially generate higher returns on cash holdings compared to traditional savings accounts. Furthermore, providing diverse and personalized cash management solutions can attract new clients seeking a holistic approach to wealth planning.  

This is for informational purposes only, is not a solicitation, and should not be considered investment, legal, or tax advice. Investors seeking more information should consult with their financial advisor.

Investments are not FDIC insured, not bank guaranteed, and can lose value.

Investing involves risk, including the possible loss of principal. Past performance does not guarantee future results.

About AssetMark

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 over 9,200 financial advisors and over 261,000 investor households. As of June 30, 2024, the company had $119.4 billion in platform assets. 

Contacts
Investors:
Taylor J. Hamilton, CFA
Head of Investor Relations
InvestorRelations@assetmark.com

Media:
Vesselina Davenport
Manager, PR & Communications
Vesselina.Davenport@assetmark.com


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