Investment and consulting solutions provider AssetMark has acquired Global Financial Private Capital for an undisclosed sum.
Established in 1991, Global Financial Private Capital is an independent registered investment advisor (RIA), which offers comprehensive and fully integrated wealth management services to its clients.
AssetMark president and CEO Charles Goldman said: “AssetMark is dedicated to building deep relationships and making a difference in the lives of both advisors and their clients, and this transaction allows us to help even more valued advisors realize their dreams of running great businesses and helping investors achieve their goals.”
Global Financial provides strategic investment solutions, practice management guidance, business consulting services and advanced technology to the customers.
Global Financial’s affiliated advisors are local and independent business owners. They are provided with access to special independent experts with specialized in investment research and analysis, financial planning, institutional compliance and quality control.
The company has over $5.7bn in combined assets under management (AUM) on its platforms, as of December 2017.
The deal is expected to be completed by the end of this year.
Once the deal concludes, Global Financial advisors can access AssetMark’s investment solutions and custom high‐net‐worth solutions.
RBC Capital Markets acted as exclusive financial advisor to Global Financial Private Capital in relation with the deal.
Global Financial Private Capital CEO Michael Bell said: “This transaction will accelerate our ability to deliver the comprehensive and compelling capabilities that our advisors require and deserve as elite independent advisors.
“The Global Financial team is looking forward to working closely with AssetMark to integrate our platforms and providing our advisors with a market‐leading foundation that is proven to help independent advisors grow and prosper.”
AssetMark, which is an investment adviser registered with the Securities and Exchange Commission, independently provides investment and consulting solutions for financial advisors.
The company offers investment, relationship and practice management solutions to the advisors and their clients.
With its Savos and Aris divisions, AssetMark has over $46bn in assets on its platform, as of July this year.