Clark Capital Expands Advisor Business as Asset Managers Crowd In

Asset managers are increasingly targeting financial advisors as a new source of growth, drawn by expanding demand for wealth-management products and services. Clark Capital says it entered the channel well before the latest industry push. Founded in 1986, the firm has spent nearly four decades building its business around advisors, giving it longstanding relationships and operating experience as competition intensifies.

Clark Capital now serves more than 11,000 financial advisors and oversees nearly $50 billion in assets. The company was also recently acquired by Raymond James, adding scale and distribution to its next phase of growth. Chief Executive Brendan Clark said the firm’s nearly 40-year track record positions it to continue benefiting from what he described as explosive expansion in the wealth-management market.