Earlier this month, AssetMark Financial Holdings Inc. 's ( AMK - Free Report ) wholly-owned subsidiary AssetMark Inc. entered into a strategic coalition with Morningstar Wealth. The transaction, approved by the board of directors of both companies, is expected to be closed in the second half of 2024, subject to regulatory approvals. AssetMark will acquire roughly $12 billion in assets from Morningstar Wealth Turnkey Asset Management Platform ("TAMP") as part of the alliance.