Deals Of The Day: The Latest In Wealth Management – Asset Mark, Efficient Advisors

Editorial Staff

3 November 2025

AssetMark, a US wealthtech, announced late last week that it intends to buy Efficient Advisors, an asset management platform with $3 billion in client assets, from its owners, Fiduciary Services Group.

The acquisition provides Efficient Advisors access to AssetMark’s wealth management platform, AssetMark said in a statement on Friday.

The transaction is AssetMark’s eighth announced acquisition since 2014, and most recently follows its strategic alliance with Morningstar Wealth and the acquisition of the Morningstar Wealth Turnkey Asset Management Platform.

AssetMark said it expects to conclude the deal in the fourth quarter of this year, subject to regulatory necessary consents, and other customary closing conditions. AssetMark didn’t disclose what it is paying for the transaction.

“AssetMark’s growth strategy is grounded in a disciplined approach to expansion – one that combines institutional insight with a clear vision for the future of independent advice,” Lou Maiuri, AssetMark chairman and group CEO, said. “The acquisition of Efficient Advisors reflects our commitment to thoughtful, inorganic growth that strengthens our position within the RIA space. By bringing Efficient Advisor’s evidence-based investment platform into our ecosystem, we’re enhancing the breadth of solutions available to advisors and reinforcing our mission to help advisors grow their businesses and deliver enduring value to clients.”

Efficient Advisors’ CEO is Steve Miller.

PricewaterhouseCoopers International served as financial advisor and Kirkland & Ellis served as legal counsel to AssetMark. DLA Piper served as legal counsel to Fiduciary Services Group.

In late July, AssetMark said it was building new capabilities allied to alternative assets. It is expecting to launch offerings in the final three months of this year.