AssetMark to Acquire Adhesion Wealth


June 27, 2022

On June 13, 2022, AssetMark Financial Holdings, Inc., announced that it has reached an agreement to acquire Adhesion Wealth Advisor Solutions, Inc.

Under the terms of the transaction, AssetMark Financial Holdings, Inc. (“AssetMark”) will acquire Adhesion Wealth Advisor Solutions, Inc. (“Adhesion Wealth”) from Vestmark. The transaction, subject to regulatory and other customary closing conditions, is expected to close by the end of the year. Terms of the deal were not disclosed.

AssetMark (NYSE: AMK) based in Concord, California, provides technology solutions to financial advisors. As of March 31, 2022, AssetMark had approximately $90.8 billion in platform assets. Broadhaven Capital Partners, LLC, is advised AssetMark on the transaction.

Adhesion Wealth, based in Charlotte, North Carolina, provides turnkey asset management services.

Vestmark, headquartered in Wakefield, Massachusetts, is a software firm serving clients in the wealth management industry. Echelon Partners served as transaction advisor on the deal to both Adhesion Wealth and Vestmark.

To read the press release: please click here.

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