Lovell Minnick Partners appoints Cordes as senior adviser

Lovell Minnick Partners has named Ronald D. Cordes as a senior adviser. Cordes was the co-founder and CEO of AssetMark.


PHILADELPHIA, LOS ANGELES and NEW YORK – October 1, 2018 – Lovell Minnick Partners (“LMP”), a private equity firm specializing in financial and related business services companies, today announced that Ronald D. Cordes has been appointed a Senior Advisor to the firm. Cordes brings more than 35 years of senior operating leadership experience in financial services, ESG and impact investing to his role at LMP, along with strong board representation.

For more than a decade, Cordes served as Co-Founder and CEO of AssetMark, Inc., a leading U.S. managed account platform with more than $50 billion of assets and a former portfolio company of LMP. In 2006, together with his wife, Marty, he co-founded the Cordes Foundation, which is focused on driving social entrepreneurship to support gender equality, impact investment and the economic advancement of women.

“Ron has a sterling track record as a senior financial services executive, with strong M&A, strategic growth, corporate governance and socially responsible investment experience,” said Steve Pierson, Managing Partner at LMP. “We believe his financial services expertise, operational skills and robust network of relationships will be invaluable to our transaction origination activities and portfolio company improvement initiatives.”

Cordes joins LMP’s team of Senior Advisors that includes Joan Binstock, a former Partner, COO and CFO of Lord, Abbett & Co.; Joseph Velli, formerly a Senior EVP at BNY Mellon; Michael Dura, a former executive at National Financial Services, a Fidelity Investments company; Heinz Hockmann, a former Commerzbank executive; and Alan Warrick, a former Aegon/Transamerica executive. Cordes’ responsibilities will include serving as an independent director on portfolio company boards, deal sourcing and due diligence, with a particular focus in both the managed account platform space and the SRI/ESG asset management market.

“We have known Ron for many years and began working closely with him back in 2000 when he was CEO of AssetMark,” said James Minnick, Co-Chairman at LMP. “He was instrumental in building AssetMark into a leading “turn-key asset management” (TAMP) provider and what would become one of LMP’s most successful investments.”

“I’m excited to have joined LMP’s talented Senior Advisor team at a time when the financial services industry is undergoing profound change and creating new investment opportunities for experienced investors with a collaborative approach to investing in financial services such as LMP,” Cordes said. “I look forward to helping their portfolio companies unleash value and supporting LMP’s investment activities to generate long term value for the firm’s investors.”

Cordes is the co-author of “The Art of Investing” (McGraw-Hill) and frequently serves as a keynote speaker at universities and investment industry events. He currently serves on the boards of MicroVest Capital Management, Align Impact, ImpactAssets, and the Social Impact Lab at Lynn University. Ron was formerly on the board of and is the former Chair of the Fair Trade USA. He earned a B.S. in Business Administration from the University of California, Berkeley.

About Lovell Minnick Partners
Since our inception in 1999, Lovell Minnick Partners has become a leader in our chosen space, raising $2 billion of committed capital from leading institutional investors including public and private pensions, insurance companies, endowments and foundations. To date, we have completed more than 45 platform company investments.