AssetMark Buys FSG-Owned Efficient Advisors
AssetMark Financial Holdings is acquiring Efficient Advisors, LLC, an asset management platform with $3 billion in client assets, from its current owners, Fiduciary Services Group (FSG).
“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,” said Lou Maiuri, AssetMark chairman and group CEO. “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.”
“Joining AssetMark marks an exciting new chapter for Efficient Advisors,” said Steve Miller, Efficient Advisors CEO. “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.”
Efficient Advisors is currently owned by FSG, the parent company of PCS Retirement, a service provider within the AssetMark Retirement Services.
The transaction is AssetMark’s eighth announced acquisition since 2014, and most recently follows its strategic alliance with Morningstar Wealth and acquisition of the Morningstar Wealth Turnkey Asset Management Platform.
The transaction is expected to close in the fourth quarter of 2025, subject to regulatory approvals, necessary consents, and other customary closing conditions.
PricewaterhouseCoopers International Limited served as financial advisor and Kirkland & Ellis served as legal counsel to AssetMark. DLA Piper served as legal counsel to Fiduciary Services Group.
Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with nearly a decade of experience and a passion for telling stories and reporting news. She is originally from Queens, New York, but now resides in Denver, Colorado.
