AssetMark Acquires Adhesion Wealth
December 15, 2022
AssetMark Financial Holdings, Inc. completed its acquisition of Adhesion Wealth, a provider of wealth-management technology and outsourced investment solutions for RIAs, TAMPs and asset managers. AssetMark paid $46 million (plus transaction costs and contingent payments) for Adhesion, which had $7.3 billion in total billable assets as of November 30, 2022; Adhesion will continue to operate commercially as a standalone business under its brand.
- Buyers
- AssetMark Financial Holdings, Inc.
- Targets
- Adhesion Wealth
- Industry
- Financial Services
- Location
- North Carolina, United States
- Transaction Type
- Buyout
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