Quantitative Analyst

Build a truly multi-generational advisory firm - or risk being left behind. Dana Burkhardt vice president and Head of Business Consulting | AssetMark. I recently had the pleasure of presenting to some of AssetMark's best advisors at the Platinum Summit event. During this session, I shared about creating a truly multi-generational firm - one that goes beyond multigenerational families and expands to multigenerational advisors and team members and even into multigenerational services. Here's the simple truth: if your client roster and your org chart are aging in sync, you don't have a pipeline - you have a retirement party. What follows distills that session into a practical blueprint for building durability, enterprise value, and growth across generations. When I say multi-generational, I mean multiple dimensions at once: the families you serve and the team that serves them, and what and how services are delivered. If any of these facets are missing - client households across generations, advisor bench strength, appropriate and valuable services - longevity, valuation, and growth all suffer. The Moment AssetMark, Inc is In The largest wealth transfer on record is underway. Independent studies estimate roughly $124 trillion moving through 2048, with the vast majority landing in the hands of heirs. Yet intent to stay with a parent's advisor hovers around the one-in-three range - and it drops when there's no pre-existing relationship. Meanwhile, its own talent pipeline is aging: the average advisor is in the mid-50s, and more than a third expect to retire in the next decade. Despite this, fewer than half of advisors report a written succession plan. Put together, that's a retention problem colliding with a capacity problem. What "Multi-Generational" Looks Like in Practice Engage whole families early. Don't wait for a transition event to meet spouses and adult children. Make family reviews part of your service calendar, and document at least one meaningful next-gen touch each year for top households. Design services for life stages. Round out retirement income work with equity-comp education, debt and cash-flow coaching, first-home strategies, 529 and student-loan guidance, and values-based investing conversations that resonate with Gen X, Millennials, and Gen Z. A multi-generational firm earns the next generation by designing a service model that feels native to how they live, decide, and build wealth. That means mobile-first access and flexible modalities (video, chat, text), self-serve scheduling, and a "one-page plan" that updates dynamically as life changes. Pair ongoing advice subscriptions or tiered service levels with life-stage offers - equity-comp coaching, student-loan and cash-flow strategies, first-home planning, and values-aligned investing - delivered through collaborative portals and real-time data aggregation. Communicate in short, visual bursts; automate routine check-ins and milestone nudges; and make it effortless to share documents, sign digitally, and pay online. Give emerging clients meaningful face time with your associate and next-gen advisors so trust transfers naturally over time. When you package modern access, transparent pricing, and life-stage expertise this way, you're not "adding a youth program" - you're institutionalizing loyalty across generations and future-proofing the firm. Modernize how you communicate. Offer meeting-modality choice, concise updates, collaborative portals, and one-page visual plans. Meet younger decision-makers where they are - without abandoning the personal touch boomers appreciate. Build a true bench. Recruit and grow associate planners early, give them visible roles with key relationships, and systematize your advice process with playbooks and checklists so experience isn't trapped in any one person's head. Put succession in writing. Even a concise, staged plan - triggers, valuation approach, funding, roles, and a client-communications outline - boosts confidence with clients, staff, lenders, and buyers. The Business Case: Growth and Value Multi-generational depth stabilizes revenue when assets are most portable, expands capacity through capable next-gen talent, and increases enterprise value by reducing key-person risk. Buyers and lenders reward continuity. Two quick ways this shows up on your P&L: * Retention dividend: proactive spouse/heir engagement protects lifetime client value when it matters most. * Succession premium: documented continuity widens exit options and strengthens multiples. Its consulting team at AssetMark is unapologetically committed to a simple truth: great ideas don't create change - implementing them does. Ideas are like treadmills: easy to buy, but you only get results when you jump on and hit "start." With that in mind, here's a focused 12-month plan to begin building a truly multi-generational firm. Over the next 12 months, move through four tight phases: Quarter 1 - Diagnose & Design by auditing family coverage for top-tier households, mapping your talent ladder, and drafting a one-page succession outline, then convert that work into three or four measurable targets to review each quarter. Quarter 2 - Activate Clients by hosting family wealth briefings for priority relationships, launching a "next-gen welcome" process, and packaging two or three life-stage services tailored to Gen X and Millennials. Quarter 3 - Build the Bench by elevating or hiring associates, assigning co-lead roles on 25 - 40 key relationships, and rolling out simple process scorecards to keep experience consistent. Quarter 4 - Institutionalize by turning the succession outline into a signed plan with funding and timelines, reviewing coverage and retention metrics, and sharing wins across the team. Metrics That Matter (Keep It Simple) * Heir relationship penetration: top households with a documented next-gen touch in the last 12 months. * Multi-advisor coverage: percent of revenue covered by two or more client-facing advisors. * Profitable, scalable, process-driven services: attractive to multiple generations. * Succession readiness: existence of a written plan and communication template. Bottom Line A multi-generational firm isn't a slogan - it's an operating model. The wealth transfer is here, heir loyalty isn't guaranteed, and the advisor talent cliff is real. The firms that intentionally connect with families across generations - and develop teams to match - will protect today's relationships, capture tomorrow's growth, and command higher enterprise value when it's time to transition. Dana Burkhardt is VP, Head of Business Consulting at AssetMark. She and the team help advisory firms build system-driven growth engines that scale across generations. Sources: Cerulli's $124T transfer projection and distribution to heirs/charities (Dec. 5, 2024); low heir-retention indicators around ~30% (various 2023 - 2025 analyses); advisor aging/retirement timelines (2024 - 2025 reports); and the industry's lagging written succession plans (~42%) (Dec. 2024). (C) 2025 AssetMark, Inc. All rights reserved. 8538297.1. 10/2025 | EXP 12/31/2027 Popular topics. Subscribe for updates. Get a monthly update of the top articles published every month.

Wealthspire combines 5 businesses under single platform. Advisory M&A news - 11/5/2025. Osaic acquires Alerus Financial; Bluespring Wealth Partners acquires Signature Wealth; Mai Capital Management acquires Evoke Advisors; and more. Osaic acquires Alerus Financial. Osaic Institutions Inc., a subsidiary of Osaic Holdings Inc., acquired Alerus Financial Corp., a commercial wealth bank and national retirement services provider with $246 million in assets under management. The Alerus team joined Osaic for its banker-focused model, compliance resources, technology and relationship management service, according to the announcement. In 2024, Alerus acquired Home Federal Savings Bank. Osaic supports approximately 11,000 financial professionals. Bluespring Wealth Partners acquires Signature Wealth. Bluespring Wealth Partners LLC acquired Signature Wealth, a Pittsburgh-based firm with approximately $1.41 billion in client assets and offering services through Kestra Financial. Signature Wealth chose Bluespring as its strategic partner for its operational capabilities, emerging technologies and national network of "like-minded firms," according to Bluespring's announcement. Bluespring will assume key back-office functions for Signature Wealth, including payroll, human resources and benefits administration. Signature Wealth offers comprehensive financial guidance, including personalized investment strategies, estate planning, tax optimization, socially responsible investing, philanthropic planning and business consulting. Mai Capital Management acquires Evoke Advisors. Mai Capital Management LLC, a registered investment adviser, acquired Los Angeles-based RIA Evoke Advisors. The acquisition brings Mai to more than $65 billion in assets under management across 34 offices nationwide. Evoke's David Hou, Jane Eagle and Jay Sanders will join Mai's office of managing partners. Hou heads Evoke Ultra-High Net Worth, Eagle heads Evoke Operations, and Sanders heads Family Office & Tax Services. Evoke, which had approximately $28.4 billion in assets under management as of September 30, joined Mai effective October 31. The terms of the deal were not disclosed. AssetMark acquires Efficient Advisors. AssetMark Financial Holdings Inc. acquired Efficient Advisors LLC, an asset management platform with $3 billion in client assets. Efficient Advisors gained access to AssetMark's wealth management platform, adviser technology, tailored business consulting and a curated lineup of investment strategists. Efficient Advisors was previously owned by Fiduciary Services Group, the parent company of PCS Retirement, a service provider within AssetMark Retirement Services. The transaction is expected to close in the fourth quarter of 2025, subject to regulatory approvals. Founded in 1996, AssetMark has more than 1,100 employees and serves more than 10,500 financial advisers and 318,000 investor households. As of September 30, 2025, the firm had more than $158 billion in platform assets. Waverly Advisors acquires Pacific Portfolio, Bridge Creek Capital Management. Waverly Advisors LLC, a registered investment adviser specializing in investment management, financial planning and wealth management solutions for high-net-worth individuals, corporate retirement plans and institutional clients, has acquired Pacific Portfolio and Bridge Creek Capital Management LLC. Pacific Portfolio consists of Pacific Portfolio Consulting LLC, a Seattle-based wealth management firm, and Pacific Portfolio Trust Co., a Washington state-chartered trust company. The acquisition added approximately $5 billion in assets under management to Waverly. The entire Pacific Portfolio team, including Founder and CEO Larry Hood, has joined Waverly, expanding the firm's enhanced trust services and corporate retirement plan solutions. The transaction of Pacific Portfolio closed on September 26, and the transaction of Pacific Portfolio Trust closed on October 31. Bridge Creek Capital Management, a wealth management firm located on Cape Cod, Massachusetts, works on highly personalized investment management and financial planning services. The entire Bridge Creek team, including Founder Barry Paster and Partner Scott Myers, joined Waverly, and the acquisition increased Waverly's assets under management by approximately $447 million. The transaction closed on October 31. Financial and legal terms of both deals were not disclosed. As of October 31, including the two acquisitions, Waverly's assets under management were approximately $26 billion.

Assetmark Inc. acquired a new stake in Global-e Online in the 1st quarter valued at about $45,000.