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Rating:From Platform Chief, to Fund Marketer: A Multi-Channel Vet Takes Over a TAMP Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, February 26, 2021

From Platform Chief, to Fund Marketer: A Multi-Channel Vet Takes Over a TAMP

Reported by Neil Anderson, Managing Editor

An investment platform chief who became a fundster marketing leader is taking over a publicly traded TAMP next week, one that has a mutual fund business, too. And an ex-Fidelity veteran is rising to be her right hand.

Natalie Grace Wolfsen
AssetMark Financial Holdings, Inc.
Executive Vice President, Chief Solutions Officer, CEO-Designate
On Tuesday, Xioaning Jao, chairperson of AssetMark Financial Holdings, Inc. [profile], confirmed the impending promotions of Natalie Wolfsen to CEO and Michael Kim to president. Meanwhile, Charles Goldman (currently president, CEO, and board member of AssetMark) will step down his three roles at the Concord, California-based firm (though he will stay on for a year as a consultant). The handoff is scheduled for next Wednesday, March 3.

Wolfsen (formerly Lera), who currently serves as executive vice president and chief solutions officer at AssetMark, will also join the firm's board. Kim currently serves as EVP and chief client officer.

Jiao lauds Wolfsen as "a proven, high-performing leader" with the unanimous support of the board. (Jiao is the chief financial officer of Huatai Securities, the publicly traded Chinese financial services firm that remains AssetMark's controlling shareholder.)

"She brings to her new role a deep knowledge of AssetMark, a track record of successfully developing and leading teams and a forward-looking approach that promotes holistic advisor-client conversations, innovative technology and greater diversity and inclusion in the wealth management industry," Jiao states.

Wolfsen, for her part, stresses her commitment to AssetMark's "mission of making a difference in the lives of advisors and investors." And she shared her support of the promotion of Kim, who brings "leadership, strategic thinking and diligence."

Meanwhile, Jiao thanks Goldman for his "significant contributions to AssetMark over the last eight years," notably highlighting the firm's 2019 IPO.

Goldman briefly chaired Genworth Financial Wealth Management's board back in 2013 shortly before its rebranding as AssetMark. He took over as president and CEO in early 2014, and he stayed on in 2016 as Huatai bought AssetMark from a pair of PE firms for $768 million. (The firm now has a market cap of $1.72 billion.)

Goldman previously led institutional platforms at Fidelity and Schwab Institutional, and earlier he worked at Advizent, Paramount Farms, Boston Consulting Group, and Bankers Trust. He is an alumnus of UCLA's Anderson School of Management and of USC.

Wolfsen joined AssetMark in the newly created chief commercialization officer role, and in 2018 she became CSO. Before that, she led marketing and product development at First Eagle, oversaw Pershing's fund platforms, and served in various leadership roles at Schwab (both in asset management, advisor services, and service and technology). Before that she worked with Invenet, American Express, and Douglas Smith Management Consulting. She, too, graduated from UCLA's Anderson School of Management, and she is also an alumna of UC Berkeley.

Kim joined AssetMark (then GFWM) in 2010 as SVP of business and channel development. He rose to EVP in 2014 and to chief client officer in 2018. Before that, he, too, served in a leadership role at Fidelity, where he worked for more than a dozen years. He also worked with Transamerica and Coopers & Lybrand Consulting. He, too, is an alumnus of UCLA.

25-year-old AssetMark had $74.5 billion in assets and more than 8,450 advisors (including about 2,500 advisors who are engaged) as of December 31. 

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