Hyderabad: US wealth management platform AssetMark, which serves more than 10,000 financial advisors, on Tuesday opened AssetMark Global Wealth, its Global Capability Centre in Hyderabad.
The company has leased and fitted out an office at H-10 by Phoenix Hitec City. It can seat about 500 people and will support AssetMark’s technology and business operations worldwide.
The Hyderabad team will work with colleagues in the United States on engineering for AssetMark’s wealth management platform. Part of that work is using artificial intelligence to help advisors get more done, improve client service and scale the company’s engineering, with decisions still resting on human judgement.
Hiring has started at every level. AssetMark is recruiting senior leaders who will run teams in both India and the United States, along with experienced professionals and graduates, in technology, operations and product management.
The company said the centre marks a new phase for its India operations, which for nearly a decade ran through outsourcing firms.
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Our analysis
AssetMark is taking its technology back in house. For ten years outsourcing firms did this work. Now the engineering and the product knowledge will sit inside the company, and Hyderabad will help decide how AssetMark competes, not just carry out the work.
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