After a nationwide search, AssetMark Financial Holdings Inc., a leading wealth management platform for financial advisors, will invest $10 million to establish an East Coast hub in Charlotte’s central business district, creating 252 new jobs.
“We are excited about our partnership with Charlotte and the State of North Carolina, which will allow us to establish our East Coast hub,” said Lou Maiuri, chairman and group CEO for AssetMark. “The committed investment from North Carolina allows us to grow our cross-functional presence in Charlotte so that we can better serve a significant portion of our clients. Exceptional service is at the center of everything we do at AssetMark. This partnership means we can continue to enhance our support for our advisors and their clients, while allowing us to tap into the exceptional talent pool available in Charlotte.”
Jobs include product engineers and designers, senior sales relationship managers, trading engineers, and operations, finance and human resources personnel, with an annual average wage $110,000, above the MSA average of $86,830. The new positions will bring an annual payroll impact to the community of more than $27 million.
“We are thrilled that AssetMark Financial Holdings has chosen Charlotte for its new hub,” said Mayor Vi Lyles. “As the nation’s second-largest finance center, our city is the ideal location, providing the key talent they need to expand their East Coast footprint.”
The Charlotte region boasts more than 104,000 workers in the financial services sector.
“AssetMark Financial Holdings’ decision to expand in Mecklenburg County is the latest proof of our competitive advantage,” said Mecklenburg Board of County Commissioners Chair Mark Jerrell. “As our community continues to grow, Mecklenburg County remains committed to attracting high-paying jobs, empowering local talent and strengthening our quality of life.”
AssetMark, headquartered in Concord, California, provides innovative solutions, insightful guidance, and excellent service to financial advisors at every stage of their journey. The company, together with its affiliates AssetMark Trust Company, Voyant, and Adhesion Wealth Advisor Solutions, has over 1,000 employees and serves more than 10,700 financial advisors and more than 317,000 investor households. AssetMark’s Charlotte hub will support nearly 4,300 advisors in the region.
“AssetMark’s decision to grow their business in Charlotte proves once again that CEOs recognize North Carolina as one of the country’s best places to do business,” said Gov. Josh Stein, who first announced the expansion in a press release. “Our state’s education and workforce training programs, combined with our top-notch business climate provides companies with the competitive advantages they need to be successful.”
This project was a collaborative effort between the City of Charlotte, Mecklenburg County, the North Carolina Department of Commerce, the Economic Development Partnership of North Carolina, the North Carolina General Assembly, the North Carolina Community College System, the Charlotte Regional Business Alliance and UNC Charlotte.
“The Charlotte Region continues to stand out as a top-tier destination for business growth—particularly in financial services,” said Robert McCutcheon, president and CEO of the Charlotte Regional Business Alliance. “With one of the fastest growing employment rates in financial services among major metros, companies see real value in choosing this region. AssetMark’s decision to add a secondary hub here reflects both the strength of our talent pipeline and the strategic advantages that set the Charlotte Region apart.”
