Private Markets Unlocked: Bridging the Technology Divide

Private markets aren’t just for institutions anymore. More value is now being created inside private companies, and individual investors are starting to notice. Consider two headline examples: OpenAI recently sold shares in a secondary offering that valued the company at roughly $500 billion. Meanwhile, Anthropic is projected to reach $20–$26 billion in annualized revenue by 2026, up from nearly $7 billion this year. The lesson for financial advisors is clear: client interest is rising, and private markets are no longer a niche add-on. They’re becoming core to portfolio construction. That’s why many advisors plan to increase their overall allocations to private markets over time, which underscores the need to establish better tools and workflows now.

What Clients Actually Experience

Private market investing isn’t like buying publicly-traded stocks and bonds. Investors often encounter less transparency, limited liquidity, and financial information that is confusing and not always aligned with their public holdings. Advisors, meanwhile, typically contend with complex reporting, limited liquidity schedules, and fragmented systems that split public and private assets across different tools.

The industry is already signaling where the technology needs to go. Advisors seek tools and simplified workflows that help grow their businesses and make access actionable. According to the 2025 AssetMark Advisor Insights Report, which surveyed more than 400 independent advisors, research identified the solutions that matter most to them when integrating private markets into client portfolios. Across the board, advisors rank seamless systems integration as one of their top priorities.

At the same time, a well-documented education gap is also occurring. A survey by Invesco Global Consulting and Maslansky+Partners, cited by Cerulli, found that 44% of advisors say educating clients about private markets remains a key challenge. Both technology and client education need to evolve to keep pace with rising demand. Interval funds can help provide a solution and practical entry point into private markets.

How Interval Funds Fit

The right access is critical. For many advisors and their clients, the on‑ramp to private markets is a registered, semi‑liquid vehicle like an interval fund. These funds provide periodic repurchase offers, at net asset value (NAV) and ongoing fund disclosures under the Investment Company Act of 1940 that provide access with a private markets structure. They lower entry barriers, and give advisors a way to set expectations for clients around limited liquidity and fund information.

Integrating Product and Planning

While interval funds open the door to private markets, giving clients access is just the first step toward a seamless investment experience. Advisors then face the challenge of connecting public-market wealth platforms, designed around individual clients and their goals, with private-market systems set up for institutions and their private assets. Bridging this divide requires translating institutional mechanics into client-friendly workflows. This includes cash management systems and performance views that reflect both time-weighted and cash-weighted results.

The goal is straightforward: from an advisor’s perspective, to make private markets feel as accessible and manageable as public markets. Achieving this requires re-engineering the investment experience. Advisors need a unified portfolio view that integrates both public and private holdings, as well as proposal tools with rebalancers that account for illiquidity. Consistent reporting is also essential, as it standardizes data and metrics to support clear client conversations. Robust risk management must account for longer holding periods, irregular valuations, and liquidity constraints, while still allowing for meaningful portfolio-level analysis.

The Next‑Gen Reality Check

The urgency for technology to catch up with demand is not theoretical. Capgemini’s 2025 World Wealth Report finds 81% of next‑gen high‑net‑worth inheritors plan to switch their parents’ wealth management firm within one to two years of inheritance, frequently citing weak digital experiences or limited products. The AssetMark Insights Report further underscores the case for private markets, with 48% of advisors identifying client demand as the primary driver for adoption. To stay competitive, delivering modern, integrated private market experiences is a critical client-retention strategy, not just a product initiative.

The AssetMark Bridge

As previewed in July 2025, AssetMark plans to integrate private assets into its managed solutions and discretionary programs, with initial capabilities set to begin in Q4 2025. The approach combines rigorous due diligence across private credit, private real estate, and private equity; advisor‑first education and tools; and the ability to hold vetted, semi‑liquid private funds in a single custody account alongside public holdings through AssetMark’s modern platform, and availability at affiliate, Adhesion Wealth. The goal is to enhance potential outcomes, not access alone. We will share more as capabilities roll out so advisors can plan with confidence.

Important Information about the Risks of Investing in Private Assets

This is for informational purposes only, it is not a solicitation, and should not be considered investment, legal, or tax advice. The report has been drawn from sources believed to be reliable, but its accuracy is not guaranteed and is subject to change. Investors seeking personalized guidance or more information should contact their financial advisor.

Investing in private assets, which are accessed through private markets, involves significant risks, including the risk of complete loss. Past performance does not guarantee future results. There is no assurance that private asset investments will achieve their stated investment objectives.

Private asset investments are often illiquid, meaning an investor's ability to sell may be limited for extended periods of time. Investors with a future need for liquidity, i.e., access to cash, should carefully consider if private asset investments are appropriate for their particular financial situation. An investor's ability to make asset allocation changes to portfolios and to implement tax management strategies may also be limited.

Investing in private markets is intended for experienced and knowledgeable investors who are able to bear the risks of the investments. Financial advisors should conduct a due diligence review of private asset investments to determine if they are appropriate for their client's financial circumstances, including goals, risk tolerance, and overall portfolio objectives.

AssetMark, Inc. is an investment adviser registered with the U.S. Securities and Exchange Commission.

©2025 AssetMark, Inc. All rights reserved.

8583052.1 | 11/2025 | EXP 11/30/2027

For financial advisor use only.