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Assetmark Review

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Assetmark, Inc.

Assetmark Inc. is a fee-based firm headquartered in Concord, California. The firm offers a variety of advisory services, with nearly 200 advisors managing more than $29.5 billion in assets under management (AUM). The financial advisor serves more than 178,000 clients. 

Assetmark Inc. Background

Functioning as an indirect subsidiary of Huatai Securities, Co., Ltd, Assetmark has been in business for more than 20 years. The firm primarily offers wealth management services and technology solutions, and it also provides an array of tools and solutions to help advisors serve their clients. Charles S. Goldman is Assetmark’s president and chief executive officer (CEO).

Assetmark Inc. Client Types and Minimum Account Sizes

The firm serves several different types of clients, including non-high-net-worth and high-net-worth individuals, pension and profit sharing plans, investment companies, partnerships, corporations, trusts, insurance companies and other investment managers. 

The firm’s minimum account sizes vary based on account and solution type. 

Services Offered by GuidedChoice Assetmark Inc.

Assetmark offers the following services:

  • Portfolio management
  • Pension consulting 
  • Selection of other advisors

Assetmark Inc. Investment Philosophy

Assetmark touts on its website that its investment solutions are built to anticipate market fluctuations. The firm says it focuses on long-term investments, and it offers investors and advisors pre-built and third-party investment solutions. 

Assetmark also provides an array of risk profiles for its investment products, and it uses risk management tools such as fixed income instruments, mutual funds, derivatives and asset allocation strategies. 

Fees Under Assetmark Inc.

All of the firm’s fees are subject to negotiation. However, the firm lists advisory fees for its no-load mutual funds. Advisory rates for the GuideMark Funds range from 0.40% to 0.70%, while the rates for GuidePath Funds range from 0.25% to 1.05%. For the firm’s Savos Dynamic Hedging Fund, it charges 1.20%. 

Assetmark Inc. Awards and Recognition

Assetmark has earned multiple awards over the past couple years. In 2018, Wealthmanagement.com’s 2018 Industry Awards recognized the firm as a winner in its Corporate Social Responsibility/Diversity category — an award that goes to technology providers with the most devotion to community and diversity-oriented service.  In 2019, Assetmark won in the Turnkey Asset Management Platform (TAMPs) category of the 2019 Wealthmanagement.com Industry Awards.

What to Watch Out For

Assetmark has more than 200 employees who are representatives of broker-dealers, resulting in commissions from transactions that involve brokerage firms’ sub-advisory of its mutual funds. However, the firm has a fiduciary duty, so no conflicts of interest exist between its advisors and clients. 

Disclosures 

Assetmark only has one regulatory action disclosure listed on its Form ADV. In 2016, the U.S. Securities and Exchange Commission (SEC) alleged that the firm distributed misleading performance advertisements created by F-Squared Investments, Inc. The advertisements were allegedly circulated to prospective clients interested in separately managed accounts provided by Assetmark and sub-advised by F-Squared Investments, Inc. To resolve the case, Assetmark consented to a cease and desist and a $500,000 fine. 

Opening an Account With Assetmark Inc. 

Assetmark offers prospective clients several options for getting in touch. If you’d like to set up an account, you can either fill out the firm’s contact form on its contact page, or you can speak with an advisor by calling 800-822-4227.

Tips for Investing

  • Investing doesn’t have to be a challenging process. If you’re not opposed to the idea of seeking professional assistance, a financial advisor can offer a holistic approach to helping you meet your investment goals. SmartAsset’s free financial advisor matching service connects you with up to three local advisors suitable to your financial needs. 
  • If you want a better idea of how much your investments can earn you over time, you should consider using our investment calculator.

All information was accurate as of the writing of this article. 

How Many Years $1 Million Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology To determine how long a $1 million nest egg would cover retirement costs in cities across America, we analyzed data on average expenditures for seniors, cost of living and investment returns.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. This reflects the typical return on a conservative investment portfolio. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research