There is a significant difference between what advisors say their clients expect and what primary services they are offering to clients, according to the findings of a new report released on Monday by AssetMark.
Alongside the research, AssetMark introduced a private wealth program combining planning, investment support and specialized capabilities, which is now available on its platform.
Advisor Insights Report
The 2026 AssetMark Advisor Insights Report: Private Wealth says 64% of surveyed advisors saw households with $1 million to $5 million as a leading growth opportunity, while 52% were worried about losing clients to rivals offering broader services. Among advisors surveyed, 72% said they serve high net worth (HNW) households with $1 million to $5 million.
But the report warns that “limited‑service breadth can leave HNW relationships vulnerable.”
“The finding that concerns me most is the gap between what advisors say clients expect and what primary services are offered,” Erin Wood, SVP, Wealth Services and Advanced Planning at AssetMark, told Wealth Solutions Report by email. “Sixty percent of advisors say clients expect tax management and planning, yet only 26% make it a primary service.”
“We see a similar gap in legacy planning and wealth transfer: 47% say clients expect it, while 23% make it a primary service. Those needs are connected; decisions about taxes, investments, liquidity and legacy can affect one another,” Wood said.
Wood added, “Advisors don’t need to become specialists in every area, but they do need a way to bring the right expertise together around each family’s priorities. Coordinated planning and specialist support can help advisors broaden the service they provide to high‑net‑worth families without requiring every capability to be built in‑house.”
Another key finding was that, while investment management “anchors the relationship” between advisors and clients, “holistic wealth wins it,” the report says. Among advisors surveyed, 90% said clients come to them for investment management, while 83% said clients also come to them for holistic wealth management.
Among the report’s other key findings is that next‑generation engagement is part of current retention strategies by advisors. According to the report, 68% of advisors surveyed saw beneficiaries and the next generation as a growth opportunity, while 55% were highly concerned about assets leaving their firm when wealth transfers.
The online survey covered 400 U.S. advisors from June 24 to July 7, excluding existing AssetMark clients. Respondents were RIAs or independent advisors affiliated with broker‑dealers. Findings about client expectations reflect advisors’ perceptions. Clients were not surveyed directly.
AssetMark’s New Private Wealth Program
AssetMark Private Wealth is a new coordinated program that the firm said was developed to help independent financial advisors serve HNW clients.
The program includes planning services for tax, income, estate and legacy needs, insurance reviews, customizable investments and portfolio construction support. Other capabilities include tax management, private markets, cash and lending and charitable giving, supported by AssetMark’s Wealth Solutions Consulting and Client Portfolio Manager teams.
“Serving high‑net‑worth clients increasingly means looking across the full picture of their wealth,” David McNatt, EVP and Chief Wealth Solutions and Strategy Officer at AssetMark, said in a press release. He added, “AssetMark Private Wealth brings planning and investment support together with specialized capabilities, giving advisors a scalable way to address tax, income, liquidity and legacy considerations while keeping advisors at the center of the client relationship.”
“Advisors see wealth transfer as a pivotal moment: it can put a relationship at risk, but it can also open the door to the next generation,” Michael Kim, President and CEO of AssetMark, said in the press release.
“Building trust across a family takes more than managing a portfolio. It means understanding the family’s broader priorities and being part of planning conversations before assets change hands.” Kim added, AssetMark Private Wealth was “designed to help independent advisors serve those needs while preserving the flexibility and control that define their practices.”
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
