AssetMark to acquire a majority stake in Morningstar Wealth Turnkey Asset Management Platform from Morningstar.

AssetMark, a wealth management platform, agreed to acquire a majority stake in Morningstar Wealth Turnkey Asset Management Platform, a advisor technology and business consulting services provider, from Morningstar, a American financial services firm. Financial terms were not disclosed. “Morningstar has a rich heritage of providing comprehensive investment insights and services to advisors and financial professionals around the globe. This relationship represents best-in-class firms strategically aligning to provide innovative solutions and high-quality service to financial advisors and their clients," Michael Kim, AssetMark CEO.