Wealth management and technology solutions provider AssetMark Financial has agreed to buy SaaS-based financial planning and client digital engagement solutions provider Voyant for $145m.

The transaction will be funded with $120m in cash and $25m in AssetMark stock.

It is expected to complete in the middle of this year, after which the acquired entity will be integrated into AssetMark’s systems and infrastructure.

Voyant serves over 20,000 advisers across financial institutions and small adviser firms in Canada, Ireland, the UK and the US.

Deal rationale

The acquisition of Voyant is said to accelerate AssetMark’s financial wellness vision.

Combined with the company’s current digital capabilities, Voyant’s key components is expected to bolster its capabilities in actionable goal planning, income planning, data aggregation, and portfolio construction, analytics, and reporting.

This will also help AssetMark to enhance its engagement with advisers, while attracting new advisers in core and adjacent channels.

Moreover, the deal is expected to be immediately accretive to AssetMark’s adjusted EPS this year and in the future. Additionally, it is expected to offer revenue diversification as Voyant subscription-based revenue is not market or interest rate sensitive.

Voyant will remain as an independent subsidiary while remaining focused on enterprises and advisers in order to increase market share.

The firm will leverage AssetMark’s sales and marketing knowhow to drive new client growth.

In addition, Voyant is said to benefit from AssetMark’s US presence, which is expected to provide a tailwind for its US expansion.


Commenting on the deal, AssetMark incoming CEO Natalie Wolfsen said: “The acquisition of Voyant rapidly accelerates this vision, while providing enhanced benefits for our advisers and their clients.

“Integrating key components of Voyant into the AssetMark platform will enhance the alignment of the investors’ goals, risk capacity and portfolio construction, creating an integrated experience where the client feels that their adviser understands them and their financial needs.”

Voyant CEO David Kaufman said: “Voyant was founded in 2006 to deepen the relationship between financial adviser and client. Our highly adaptable, visual planning capabilities allow financial advisers to add real value and help clients achieve their long-term goals.

“We believe in AssetMark’s financial wellness vision and look forward to partnering with them to provide a broad set of value-added solutions for their clients.”

Previous Deals

In 2019, AssetMark agreed to acquire OBS Financial from Canandaigua National in an all-cash transaction.

In 2018, the company agreed to buy Florida-based RIA Global Financial Private Capital for an undisclosed sum.