AssetMark Moves to Expand Growth With RIAs, Private Markets

Maiuri noted that Rogerson will be based in Charlotte, N.C. — the site of AssetMark’s newly designated “East Coast hub.”

“We are investing $10 million and creating more than 250 new jobs in Charlotte,” Maiuri said. “It’s an important move that will help us tap into the tremendous talent pool in the eastern United States, including in places like New York, Boston and Philadelphia. Previously, our closest locations for people in these locations were Concord [in Northern California] or Chicago, so this is a big step forward.”

Why Hire an RIA Leader Now?

“It’s a pretty simple reason,” Maiuri said. “The RIA channel is a critical growth driver for AssetMark, and Phill’s leadership and deep expertise will be instrumental as we execute on our strategy.

"RIAs are one of the fastest-growing segments in wealth management, and we’re poised to be a big part of that. We believe strongly in our platform’s ability to help RIAs unlock greater efficiency and enterprise value,” he added.

In a statement, Rogerson said he “couldn’t be more excited to join AssetMark at such a pivotal time.”

“The team has already made significant progress with the Adhesion and Voyant acquisitions, and with a suite of integrated services that allow RIAs to focus less on operational tasks and more on growth and client relationships,” Rogerson said. “I look forward to building on that momentum.”

Maiuri noted tat Rogerson will be given the resources and time needed to stand up a new “entrepreneurial” organization within the broader AssetMark umbrella. They’re expecting big things from the new executive, he said, but it’s important to take the right approach.

“As a start, we’re tasking him with building out a team around the Adhesion group, and it will broaden out from there through strategic hiring,” he explained.

“What we don’t want to do is take people away from the core platform, where things are going so well, and move them over to this start-up effort. We’re going to be more strategic and bring in the right industry experts to execute the strategy,” Mauri added.

The CEO points out that AssetMark is a firm believer in the thesis of RIAs excelling in a competitive wealth management landscape through the provision of “holistic and advanced financial planning.” As such, the firm will continue to invest in planning and investing capabilities that let RIAs shine.

“We see so much opportunity here given the sophistication of the platform and the tools and resources we’ve rolled out,” he said. “We’ve made some big advancements in areas like direct indexing capabilities and tax-loss harvesting tools, for example. These can be so powerful in the context of building a financial plan.”

Going Deeper into Private Markets

As Maiuri emphasized, the strategic push into private markets will integrate private assets into AssetMark’s managed solutions and discretionary programs, which aim to help advisors deliver more resilient, personalized portfolios in a rapidly evolving investment landscape.

“Private markets are essential to building modern, diversified portfolios,” he said. “The investing world has changed so much in even just the last decade. You look at the Wilshire 5,000 for example, and today it has closer to 3,600 securities. So much of the value creation in our national and global economy is happening in the private space.”

Maiuri said the firm is currently conducting due diligence on private credit, private real estate and private equity funds — asset classes that offer differentiated return streams and potential for enhancing long-term outcomes.

“Doing that due diligence is a big part of the reason I’m in New York this week,” Maiuri noted. “One of our primary goals here is to make accessing private markets more seamless and easy for advisors, so that means there’s a significant amount of due diligence on our part — not to mention building all the plumbing.”

The ultimate goal, he explained, is providing advisors with the ability to invest in carefully reviewed, semi-liquid private funds in a single custody account alongside other public security allocations.

“We’re aiming for an approach designed to streamline advisor workflow and enhance the investor experience,” Maiuri said. “In addition to the due diligence and platform enhancements, this will also require educational resources and tools designed to help advisors understand how private markets fit into client portfolios and to communicate their benefits effectively.”

Maiuri said he expects AssetMark’s expanded private markets capabilities will be available to advisors and firms beginning in the fourth quarter, with additional features to be rolled out through late-2026.

A Word on GTCR Ownership

Prior to joining AssetMark in September, Maiuri worked at State Street and served in various roles, including head of investment servicing and as chief operating officer.

“Almost a year later, I can say it’s been a really interesting shift to go from a larger publicly traded organization over to AssetMark, which is a private company backed by our private equity sponsor GTCR,” Maiuri said.

“There are clear virtues to being a large, publicly traded organization, but I also think this is a great time to be a privately owned entity. It means we can be more strategic and invest back into the business for the long term,” he added.

Maiuri said the efforts to build out the RIA channel and to deliver more advanced private market capabilities are two cases in point.

“We’re making decisions today about where we want to be in three to five years,” he explained. “We’re working with GTCR to invest in the company and invest in the right people to get us there. In the publicly traded sector, it’s harder to do that when you’re just so focused on hitting certain numbers each and every quarter to avoid a drop in the stock price.”

Pictured: Lou Maiuri