The new partnership with Ascensus is the robo-advisor's second foray into college savings plans.
AssetMark ended the month of May with $96.4 billion in assets on its turnkey asset management platform, up 10.9% year over year.
Its purchase of Oakbrook Solutions creates a combined firm that has more than 100 employees and serves clients representing a combined $2.5 trillion in AUM.
The fundraising was led by Motive Ventures, the venture capital arm of Motive Partners.
The technology is increasingly seen as table stakes for firms supporting financial advisors.
Wealthfront says its portfolio uses a mix of Treasury and corporate bond ETFs and can achieve an annual return of 5.48% after its 0.25% fee.
Marc Greenberg most recently worked at Blend, a white-label fintech that banks use to build consumer-facing digital products.
Based in Richmond, Virginia, ACG Wealth Management offers investment management, qualified plans, tax strategies and third-party administrator services.
The additional investment from Altas Partners pushes Mercer's valuation past $3 billion.
Both CellTrust and ionLake provide compliant text messaging and archiving for advisors. CellTrust accused ionLake of violating its patents, but the jury disagreed.
