AssetMark Says Voyant Acquisition Will Advance Its Financial Wellness Offerings

The firm says the move provides enhanced benefits for advisers and their clients.

AssetMark Financial Holdings will acquire Voyant, which serves more than 20,000 advisers across financial institutions and small advisory practices in the United States, Canada, the United Kingdom and Ireland.

The company is making the acquisition for $145 million ($120 million in cash and $25 million in AssetMark stock). The deal is expected to close in the middle of this year.

AssetMark says Voyant will bring it “compelling digital capabilities,” most notability the ability to provide holistic, customizable financial wellness.

AssetMark CEO Natalie Wolfsen tells PLANADVISER: “Advisers depend on deepening the client relationship for continued growth, and clients increasingly expect more personalized service from their adviser. By integrating key components of Voyant with the AssetMark platform, we can create a holistic experience that provides advisers with a greater understanding of the client’s financial needs. This will help to drive deep, meaningful conversations, and support those conversations with actionable goal planning, income planning, data aggregation, and portfolio construction, analytics, and reporting.”

She continued: “AssetMark and Voyant have a shared vision for financial wellness. The acquisition of Voyant rapidly accelerates this vision, while providing enhanced benefits for our advisers and their clients. Integrating key components of Voyant into the AssetMark platform will enhance the alignment of the investors’ goals, risk capacity and portfolio construction—creating an integrated experience where the client feels that their adviser understands them and their financial needs. Voyant’s fit into the AssetMark platform aids in creating stronger client-adviser relationships. This leads to more invested assets and greater loyalty on our platform, while also helping us attract new advisers in core and adjacent channels.”

Voyant’s offerings will be integrated into the AssetMark PortfolioEngine and the AssetMark WealthBuilder. AssetMark says this will increase its engagement with existing advisers and help it attract new advisers.

The firm adds that the acquisition will accelerate its standalone growth prospects and accelerate its financial wellness vision. AssetMark says Voyant will remain a separate subsidiary continuing to target enterprises and advisers in order to increase market share.