AssetMark Readies New Alternative Assets Initiative

Editorial Staff

29 July 2025

Last week, AssetMark, a US wealthtech, announced that it is building new capabilities allied to alternative assets. It is expecting to launch offerings in the final three months of this year.

The firm said it will integrate private assets into AssetMark’s managed solutions and discretionary programs.

“Private markets are no longer optional – they’re essential to building modern, diversified portfolios,” Lou Maiuri, group CEO and chairman of AssetMark, said. “We’re committed to helping advisors access these opportunities in a way that’s intuitive, scalable, and aligned with how they serve clients today.”

The firm is conducting due diligence on private credit, private real estate, and private equity funds.

Such a move speaks to continued ferment over wealth management’s embrace of private markets/alternatives. Part of this is driven by a search for yield and diversification away from listed equities and bonds. Widening access to alternative assets – traditionally only for ultra-wealthy clients and large institutions – has raised eyebrows but appears to be a relentless trend.

Allocation
A slice of AssetMark’s discretionary strategies will be allocated to private markets. AssetMark’s unified managed accounts and Adhesion Wealth platform will also give advisors the ability to invest in semi-liquid private funds in a single custody account alongside other public security allocations.

The move builds on AssetMark’s purchase – wrapped up in 2022 – of Adhesion Wealth, which provides wealth management technology solutions to RIAs, RIA enterprises, TAMP and asset managers.

“We believe private markets can serve as a strategic core allocation that offers diversification from public markets while enhancing investor long-term goals,” said David McNatt, executive vice president and chief wealth solutions and strategy officer at AssetMark.