Voyant Acquisition Accelerates the AssetMark Financial Wellness Vision
01 März 2021 - 10:30PM
AssetMark Financial Holdings, Inc. (NYSE: AMK) today announced it
will acquire Voyant, a leading global provider of SaaS-based
financial planning and client digital engagement solutions. Voyant
serves more than 20,000 advisors across financial institutions and
small advisor firms in the United Kingdom, Canada, Ireland, and the
United States. The acquisition of Voyant advances the AssetMark
financial wellness vision by adding compelling digital capabilities
to the AssetMark platform. This vision encompasses a holistic
approach to advice that supports the client’s goals in a customized
way.
“AssetMark and Voyant have a shared vision for financial
wellness. The acquisition of Voyant rapidly accelerates this
vision, while providing enhanced benefits for our advisors and
their clients. Integrating key components of Voyant into the
AssetMark platform will enhance the alignment of the investors’
goals, risk capacity and portfolio construction, creating an
integrated experience where the client feels that their advisor
understands them and their financial needs,” said Natalie Wolfsen,
incoming CEO of AssetMark. “Voyant’s fit into the AssetMark
platform aids in creating stronger client-advisor relationships.
This leads to more invested assets and greater loyalty on our
platform, while also helping us attract new advisors in core and
adjacent channels.”
“Voyant was founded in 2006 to deepen the relationship between
financial advisor and client. Our highly adaptable, visual planning
capabilities allow financial advisors to add real value and help
clients achieve their long-term goals,” said David Kaufman, CEO of
Voyant. “We believe in AssetMark’s financial wellness vision and
look forward to partnering with them to provide a broad set of
value-added solutions for their clients.”
Strategic Rationale
AssetMark expects the transaction will:
- Accelerate AssetMark’s standalone growth prospects
- The acquisition accelerates AssetMark’s financial
wellness vision. Key components of Voyant will be integrated into
the AssetMark platform, working in concert with existing digital
capabilities, such as AssetMark PortfolioEngine® and AssetMark
WealthBuilderSM, to drive deep, meaningful conversations, and
support those conversations with actionable goal planning, income
planning, data aggregation, and portfolio construction, analytics,
and reporting. This will increase engagement with existing
advisors, while helping AssetMark attract new advisors in core and
adjacent channels.
- Strengthen Voyant’s standalone growth
prospects - Voyant will remain a separate subsidiary
continuing to target enterprises and advisors in order to increase
market share. AssetMark’s sales and marketing knowhow has the
ability to help Voyant drive new client growth. Additionally,
AssetMark’s strong U.S. presence, well-known brand and deep
relationships provide a tailwind for Voyant’s U.S. expansion.
- Deliver immediate financial benefits and long-term
revenue diversification - The acquisition of Voyant is
expected to be immediately accretive to AssetMark’s adjusted EPS in
2021 and beyond. The acquisition also provides revenue
diversification as Voyant subscription-based revenue is not market
or interest rate sensitive.
Transaction Details
AssetMark will acquire Voyant for $145 million in a cash and
stock transaction. The deal is funded with $120 million in cash and
$25 million in AssetMark stock. The transaction is expected to
close in mid-2021, subject to customary closing conditions.
Following the close, Voyant will begin to be integrated into
AssetMark’s systems and infrastructure.
Advisors
Raymond James & Associates, Inc. is serving as exclusive
financial advisor to Voyant.
Management Conference Call
A conference call to discuss the transition with AssetMark
incoming CEO Natalie Wolfsen, AssetMark CFO Gary Zyla and Voyant
CEO David Kaufman will be held today, March 1, 2021 at 2:00pm
Pacific Standard Time. Supplemental presentation materials and the
live webcast can be accessed from AssetMark’s investor relations
website at http://ir.assetmark.com/. The call can also be accessed
live over the phone by dialing 866-211-4156. The conference ID is
3965888. The webcast will be available for 14 days from March 1,
2021.
About AssetMark Financial Holdings, Inc.
AssetMark is a leading provider of extensive wealth management
and technology solutions that help financial advisors meet the
ever-changing needs of their clients and businesses. Through
AssetMark, Inc., its investment adviser subsidiary registered with
the U.S. Securities and Exchange Commission, AssetMark operates a
platform that brings together fully integrated technology,
personalized and scalable service, and curated investment solutions
to support financial advisors and their businesses. For more than
20 years, AssetMark has focused on offering the solutions and
services that help financial advisors grow. AssetMark had $74
billion in platform assets as of December 31, 2020. For more
information visit assetmark.com.
About Voyant
Voyant is a leading global provider of financial planning
solutions to enterprises, independent financial advisors and their
clients. Enterprise clients include Toronto-Dominion, Lloyd’s
Bank, BMO, CIBC and others. With operations in the United States,
United Kingdom, Canada, Ireland and Australia, Voyant’s
configurable and integrated offerings focus on the whole adviser
lifecycle including client onboarding, collaborative financial
planning, and self-service solutions for clients. Voyant’s
solutions allow advisers to deliver a new level of value to their
clients, by providing vision, expertise, and access.
Forward-Looking Statements
This press release may contain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. All statements other than statements of historical facts
included in this press release are forward-looking statements and
are not guarantees of future performance or results and involve a
number of risks and uncertainties. Actual results may differ
materially from those in the forward-looking statements as a result
of a number of factors, including those described from time to time
in filings we make with the Securities and Exchange Commission.
AssetMark undertakes no duty to update any forward-looking
statement made herein. All forward-looking statements speak only as
of the date of this press release.
SOURCE: AssetMark Financial Holdings, Inc.
Contacts
Investors:Taylor J. Hamilton, CFAHead of Investor
RelationsInvestorRelations@assetmark.com
Media: Chris BlakeMSR
Communicationschris@msrcommunications.com
AssetMark Financial (NYSE:AMK)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
AssetMark Financial (NYSE:AMK)
Historical Stock Chart
Von Jul 2023 bis Jul 2024