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Area Development - Site Selection, Facility Planning and Workforce Development

AssetMark Plans Charlotte, North Carolina, Operations

07/09/2025
AssetMark, a wealth management platform for financial advisors, plans to establish operations in Charlotte, North Carolina. The $10 million project is expected to create 252 jobs in Mecklenburg County.

The company’s new East Coast Hub will support approximately 4,300 advisors in the region.

“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.”

The project will be supported, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee and formally awarded to AssetMark Financial Holdings, Inc. Over the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by more than $1.2 billion. Using a formula that takes into account the new tax revenues generated by the new jobs, the JDIG agreement authorizes the potential reimbursement to the company of up to $1,941,750, spread over 12 years. State payments only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation targets.

The project's projected return on investment of public dollars is 303 per cent, meaning for every dollar of potential cost, the state receives $4.03 in state revenue. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant’s reimbursement payments to a given company.

Because AssetMark chose a location in Mecklenburg County, classified by the state’s economic tier system as Tier 3, the company’s JDIG agreement also calls for moving $647,250 into the state’s Industrial Development Fund – Utility Account. The Utility Account helps rural communities finance necessary infrastructure upgrades to attract future business. Even when new jobs are created in a Tier 3 county such as Mecklenburg, the new tax revenue generated through JDIG grants helps more economically challenged communities elsewhere in the state.

“Charlotte’s place as one of the nation’s top financial centers grows stronger today with the addition of an innovative company like AssetMark,” noted Commerce Secretary Lee Lilley. "Fintech companies are especially drawn to North Carolina’s deep pool of IT talent and tailored training programs, which provide an ideal foundation for accelerating their growth in the state."

Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina (EDPNC) on the project were the North Carolina General Assembly, the North Carolina Community College System, the Commerce Department’s Division of Workforce Solutions, Mecklenburg County, and the City of Charlotte.

AssetMark provides solutions, guidance, and service to financial advisors. The company, together with its affiliates AssetMark Trust Company, Voyant, and Adhesion Wealth Advisor Solutions, currently serves more than 10,700 financial advisors and more than 317,000 investor households.

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