Asset Manager Platform Of The Year: AssetMark, FusionIQ And GeoWealth

Janeesa Hollingshead, Executive Editor, Wealth Solutions Report

WSR Honors AssetMark, FusionIQ And GeoWealth As Asset Manager Platforms Of The Year

The WSR Wealth Exemplar Awards for Asset Manager Platform of the Year go to the top three firms that have a significant presence in the wealth management industry and operate as third-party asset managers that serve B2B wealth management platforms. There is a minimum asset level of $10 billion.

AssetMark

Natalie Wolfsen, CEO, AssetMark

Founded in 1996, AssetMark serves over 8,700 financial advisors with $79.4 billion in platform assets as of the end of the third quarter. The number of investor households served on its platform increased 10% year-over-year, to almost 225,000.

The firm acquired wealthtech services provider Adhesion Wealth this year, to complement its outsourcing offerings with modular solutions for advisors who prefer to do some or all components of advice delivery themselves, as it continued to develop its digital ecosystem to promote client engagement and efficiency.

The firm also expanded its platform’s income planning capabilities, individually managed accounts, ESG solutions and tax transition services, as well as its personalized practice consulting services.

FusionIQ

Mark Healy, CEO, FusionIQ

With clients currently using their platform managing well over $100 billion in assets, FusionIQ offers a fully digital and automated workflow for financial advisors, who access private funds, alternatives and cryptocurrencies, as well as traditional assets on an asset-agnostic and custodian-agnostic platform. 

The firm delivers white-label access to its platform through both a self-directed option and a digital advice route, with a blended option also available. In addition, the firm recently launched finTAMP, a turnkey asset management platform featuring digital account opening, workflows and a model marketplace, also with white-label access.

Over 7,500 advisors have access to the firm’s platform. The firm and its RIA direct-to-consumer affiliate IQvestment have received numerous industry awards, and CEO Mark Healy was named a “Fintech Luminary” by Digital Wealth News.

GeoWealth

With almost $18 billion in assets on its TAMP, Chicago-based GeoWealth received a $19 million capital injection from Kayne Partners, the growth private equity group of Kayne Anderson Capital Advisors, and J.P. Morgan Asset Management for the purposes of accelerating product expansion and distribution in November 2021. 

True to the purpose of the fundraising, the firm recently launched an investment consulting division to provide guidance and service to advisors customizing unified managed accounts and an integrated manager portal that enables third-party asset managers and advisors to communicate on portfolio updates and trading order execution, and also expanded its model marketplace by over 200%, as we previously covered.

Earlier this year, GeoWealth also formed integrations with Pontera and 55ip, adding to a list that includes Charles Schwab, Fidelity, Raymond James, Pershing and TD Ameritrade

Janeesa Hollingshead, Executive Editor at Wealth Solutions Report, can be reached at editor@wealthsolutionsreport.com  

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