AssetMark Announces Strategic Alliance With Morningstar Wealth; Acquires $12B In Assets From Morningstar Wealth's Turnkey Asset Management Platform; Financial Advisors And Clients To Gain Access To AssetMark's Platform With Seamless Account Migration
Portfolio Pulse from Benzinga Newsdesk
AssetMark has announced a strategic alliance with Morningstar Wealth, acquiring $12 billion in assets from Morningstar Wealth's turnkey asset management platform. This move will allow financial advisors and clients to access AssetMark's platform with seamless account migration.
June 20, 2024 | 1:20 pm
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AssetMark has formed a strategic alliance with Morningstar Wealth, acquiring $12 billion in assets. This acquisition will enhance AssetMark's platform and provide seamless account migration for financial advisors and clients.
The acquisition of $12 billion in assets and the strategic alliance with Morningstar Wealth will likely enhance AssetMark's platform, attracting more financial advisors and clients. This is expected to have a positive short-term impact on AMK's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Morningstar Wealth has entered into a strategic alliance with AssetMark, transferring $12 billion in assets to AssetMark's platform. This move will streamline operations and potentially enhance Morningstar's focus on other core areas.
By transferring $12 billion in assets to AssetMark, Morningstar Wealth can streamline its operations and potentially focus on other core areas. This strategic move is expected to have a positive short-term impact on MORN's stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100