Cheetah and AssetMark collaborate to address evolving bank trust and wealth management needs

CONCORD, Calif., Nov. 02, 2023 (GLOBE NEWSWIRE) — AssetMark (NYSE: AMK), a leading provider of wealth management and technology solutions for financial advisors, today announced a collaboration with Cheetah, a cloud-based trust accounting system, to address an emerging need in financial services.

Together, AssetMark and Cheetah are creating a first-of-its-kind, seamless wealth management solution to address the expanding intersection of trust services and investment services with a digital ecosystem that sets both institutional wealth managers and registered investment advisors up for success.

A convergence of business models across financial services is encouraging trust providers to facilitate more active management of client assets, especially investment portfolios, and is encouraging registered independent advisors to expand into trust services.

“Both Cheetah and AssetMark share the common goal of empowering our clients to run and grow successful businesses,” said Adam Unger, CEO of Cheetah. “Ultimately, this alliance is about seeing where wealth management is moving and crafting an innovative solution that strengthens our clients’ position as market leaders.”

This exclusive arrangement represents AssetMark’s continued expansion into the bank trust channel, an integral part of the firm’s growth strategy, according to Michael Kim, CEO of AssetMark.

“We’re excited to partner with Cheetah to deliver a comprehensive platform experience that combines Cheetah’s superior trust accounting services with our leading wealth management capabilities,” Kim said. “As demographics shift and competition intensifies, banks are looking to deliver more value to their end clients. Our combined offering provides flexibility and a strategic edge for those looking to provide a holistic suite of services.”

AssetMark will join Cheetah’s annual client conference, called the Hunt, in November in Greenville, S.C., alongside more than 150 trust and wealth management professionals. Attendees will have the opportunity to learn more about the exclusive relationship between AssetMark and Cheetah and how it will advance trust and wealth in the digital age.

About AssetMark Financial Holdings, Inc.

AssetMark operates a wealth management platform that powers independent financial advisors and their clients. Together with our affiliates Voyant and Adhesion Wealth, we serve advisors of all models at every stage of their journey with flexible, purpose-built solutions that champion client engagement and drive efficiency. Our ecosystem of solutions equips advisors with services and capabilities that would otherwise require significant investments of time and money, ultimately enabling them to deliver better investor outcomes and enhance their productivity, profitability, and client satisfaction.

Founded in 1996 and based in Concord, California, the company has over 1,000 employees. Today, the AssetMark platform serves 9,300 financial advisors and roughly 247,000 investor households. As of June 30, 2023, the company had $100.8 billion in platform assets.

About Cheetah Inc.

Cheetah Inc. provides software solutions for wealth managers focused on growing their business and building revenue. Cheetah Inc.’s mission is to provide wealth managers with the tools they need to grow their business, provide exceptional service, and increase operational efficiency. Cheetah Inc.’s flagship product, Cheetah, is a comprehensive trust management platform that provides trust managers with a digital solution to manage all aspects of their client’s wealth, from investment management and trades to trust accounting and tax reporting. Cheetah has driven modernization within the trust industry by creating innovative, cloud-based solutions that incorporate state-of-the-art technologies.


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