AssetMark Financial announced its plan to acquire Efficient Advisors, an asset management platform overseeing $3 billion in client assets, from Fiduciary Services Group (FSG). The acquisition strengthens AssetMark’s position within the registered investment advisor (RIA) channel and supports its long-term strategy to expand its wealth management capabilities through both organic and strategic growth.
The transaction provides Efficient Advisors with access to AssetMark’s comprehensive wealth management platform, which includes advanced advisor technology, tailored consulting services, and a broad selection of investment strategists. AssetMark will establish a network of RIAs and advisors recognized for their deep client relationships, enabling the company to expand its reach while providing advisors with the necessary tools and support to enhance growth and client service.
This acquisition builds on AssetMark’s continued momentum in the RIA space. It follows its recent strategic alliance with Morningstar Wealth, as well as the acquisition of the Morningstar Wealth Turnkey Asset Management Platform. It represents the company’s eighth announced acquisition since 2014. The deal is expected to close in the fourth quarter of 2025, subject to customary conditions and receipt of all necessary regulatory approvals.
Advisors/counsel: PricewaterhouseCoopers International Limited served as the financial advisor, and Kirkland & Ellis provided legal counsel to AssetMark. DLA Piper advised Fiduciary Services Group.
KEY QUOTES:
“AssetMark’s growth strategy is grounded in a disciplined approach to expansion – one that combines institutional insight with a clear vision for the future of independent advice. The acquisition of Efficient Advisors reflects our commitment to thoughtful, inorganic growth that strengthens our position within the RIA space. By bringing Efficient Advisor’s evidence-based investment platform into our ecosystem, we’re enhancing the breadth of solutions available to advisors and reinforcing our mission to help advisors grow their businesses and deliver enduring value to clients.”
Lou Maiuri, AssetMark Chairman and Group CEO
“Joining AssetMark marks an exciting new chapter for Efficient Advisors. Our shared commitment to advisor-centric service makes this a natural fit. We’re proud of the platform we’ve built and the relationships we’ve nurtured over the years, and we look forward to amplifying our impact through AssetMark’s expansive network.”
Steve Miller, Efficient Advisors CEO
“We are excited to strengthen our retirement relationship with AssetMark. This collaboration allows each organization to focus on its core strengths while delivering greater value to advisors and their clients.”
Scott David, Fiduciary Services Group CEO
