AssetMark to add Voyant’s planning tools to TAMP via a $ 145 million acquisition

AssetMark Financial Holdings, headquartered in Concord, Calif., Announced today that Voyant, a provider of SaaS tools for financial planning and software-as-a-service, has entered into a cash and stock market transaction for of $ 145 million.

AssetMark is primarily a turnkey asset management platform (TAMP) that bills itself as a “goal-oriented” TAMP, while Voyant is more of a provider of planning software.

AssetMark believes that Voyant will help accelerate its growth prospects, the company said in its announcement. Voyant serves more than 20,000 consultants in the UK, Canada, Ireland and the USA

AssetMark is funding the deal with $ 120 million in cash and $ 25 million in its shares. The transaction is expected to close in mid-2021. Additional details were not disclosed.

“AssetMark and Voyant share a common vision for financial wellbeing. The acquisition of Voyant is rapidly accelerating this vision and providing enhanced benefits to our consultants and their clients, “said Natalie Wolfsen, new CEO of AssetMark, in published comments. “By integrating Voyant’s key components into the AssetMark platform, investors can better align their objectives, risk capacity and portfolio construction and create an integrated experience where the client feels that their advisor is them and their financial needs understands. “

Voyant will continue to be a stand-alone subsidiary aimed at consultants and companies, leveraging AssetMark’s sales and marketing capabilities and US presence to enable new customer growth.

Voyant’s components will be integrated with the AssetMark platform to work with AssetMark’s existing PortfolioEngine and WealthBuilder tools to enable targeted planning, revenue planning, data aggregation, and portfolio construction, analysis and reporting.

“Voyant was founded in 2006 to deepen the relationship between financial advisor and client,” said David Kaufman, CEO of Voyant, in published comments. “Our adaptable visual planning capabilities enable financial advisors to create real value and help clients achieve their long-term goals.”

The transaction is the last in a series of TAMPs to be acquired or merged with other fintechs or planning-oriented consulting firms. Last year Orion Advisor Solutions bought Mega-TAMP Brinker Capital, while FormulaFolios merged with Brookstone Capital Management. Envestnet, whose origins lie in the TAMP area, has grown steadily through the purchase of fintechs such as MoneyGuide, Yodlee and Tamarac.

Last month, insurance-focused Sammons Financial Group acquired AUM TAMP Beacon Capital Management for $ 3 billion.

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