AssetMark has launched WealthBuilder, a digital investment management and planning solution to help financial advisors streamline and scale their businesses while helping clients plan, track and meet goals with customized, lower-cost portfolios.
The firm also introduced updates to its Investor Portal that provide investors secure and streamlined online and mobile access to their accounts 24-7.
WealthBuilder is designed for independent BDs and RIAs who want to outsource investment management with an asset allocation of low-cost ETFs and mutual funds that match their clients’ risk tolerance. It can also be used to help prospect for new clients.
“WealthBuilder’s straightforward approach supports advisor-client conversations about aligning a portfolio to each client’s specific goals and risk tolerance, and Investor Portal complements this straightforward approach by providing investors with intuitive tools to track personal progress,” said Matt Matrisian, senior vice president of strategic initiatives, in a statement.
WealthBuilder allows advisors to “shift the conversation from how the S&P 500 performed to tracking their goals,” Matrisian told ThinkAdvisor. Advisors can check the dashboard to see whether investors are on track or off track to achieve their goals, and clients can check as well via a dashboard that the advisor customizes for client views.
WealthBuilder’s portfolio allocations combine core ETFs from Vanguard, iShares and Schwab with actively managed mutual funds from Doubleline, AQR and Natixis — 11 funds in all — based on a client’s goals and risk tolerance, which is rated from one to six, in ascending order.
The minimum investment is $10,000 and platform fees start at 45 basis points; additional fees for portfolios range from 19 basis points to 24 basis points, depending on the funds used.
AssetMark, which has more than $47.5 billion in assets on its platform, expects to add more features to the platform, including account aggregation, in the future.