People

LMP-backed Definiti appoints ex-Senator Toomey and former AssetMark CEO Cordes to board of managers

Based in The Woodlands, Texas, Definiti is a retirement services firm.

-
  • These two board appointments follow the recently announced investment in Definiti by Lovell Minnick Partners, which closed on March 16
  • Toomey represented Pennsylvania in the U.S. Senate from 2011 to 2023
  • LMP targets middle-market companies in the financial services, financial technology and business services sectors

Definiti, which is backed by Lovell Minnick Partners, has named former U.S. Senator Patrick Toomey and former AssetMark CEO Ronald Cordes to its board of managers.

Based in The Woodlands, Texas, Definiti is a retirement services firm.

These two board appointments follow the recently announced investment in Definiti by Lovell Minnick Partners, which closed on March 16.

“Ron’s deep knowledge of the financial advisor ecosystem coupled with Pat’s extensive background in government service and financial services make them ideal additions to the Definiti Board,” said Jason Barg, a partner at LMP, in a statement. “Both of these individuals will provide tremendous value as Definiti continues to expand its client base and works to achieve ambitious organic growth initiatives and continued acquisitions of quality firms for years to come.”

Toomey represented Pennsylvania in the U.S. Senate from 2011 to 2023, serving on the Senate Banking, Housing, and Urban Affairs; Budget; and Finance Committees, as well as the Joint Economic Committee and the Joint Select Committee on Deficit Reduction. Toomey previously served in the U.S. House of Representatives from 1999 to 2005, where he was a member of the House Financial Services and Budget Committees.

Cordes co-founded and served as CEO and executive co-chairman of AssetMark Inc. He co-authored “The Art of Investing” published by McGraw Hill, and is currently advisory council member to LMP.

Lovell Minnick Partners has raised approximately $4.3 billion of committed capital. LMP targets middle-market companies in the financial services, financial technology and business services sectors.