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AssetMark Financial Holdings, Inc. (NYSE: AMK) is a prominent wealth management technology platform based in Concord, California. Established in 1996, AssetMark provides a comprehensive suite of innovative investment and consulting solutions designed to empower independent financial advisors. With a strong focus on simplifying client engagement and enhancing advisor efficiency, the company serves over 9,200 financial advisors and more than 257,000 investor households.
AssetMark's platform stands out for its end-to-end services that encompass almost every aspect of an advisor’s interaction with clients. This includes initial consultations, ongoing financial planning, performance reporting, and billing. By providing extensive tools and capabilities, AssetMark enables advisors to streamline their day-to-day business activities, allowing them to spend more time on meaningful client interactions.
As of the first quarter of 2024, AssetMark boasts approximately $117 billion in platform assets, demonstrating its significant market presence and continuous growth. The company's recent achievements include a 21.5% year-over-year increase in platform assets and a substantial rise in net income.
In April 2024, AssetMark entered into a definitive agreement to be acquired by GTCR, a leading private equity firm, for $35.25 per share in cash, valuing the company at approximately $2.7 billion. This acquisition is expected to further enhance AssetMark’s growth trajectory by expanding its product offerings and maintaining its high standard of client service.
AssetMark’s relentless service ethic, coupled with its robust client relationship support, sets it apart in the wealth management industry. The company's ecosystem of solutions, including affiliates like Voyant and Adhesion Wealth, provides advisors with the necessary tools to deliver superior investor outcomes and improve their productivity, profitability, and client satisfaction.
For more detailed information about AssetMark Financial Holdings, Inc., visit their website at www.assetmark.com.
AssetMark Financial Holdings (NYSE: AMK) reported strong financial results for Q3 2021, with a net income of $12.3 million or $0.17 per share. Adjusted net income was $29.9 million, equating to $0.40 per share, on total revenues of $139.7 million. Platform assets grew by 29.1% year-over-year to $86.8 billion, bolstered by record net flows of $2.8 billion. The number of advisors and investor households also increased, demonstrating ongoing organic growth and a 23.7% production lift from existing advisors. This marks a record quarter for revenue, adjusted EBITDA, net income, and earnings per share.
AssetMark, a wealth advisory platform, announced that CEO Natalie Wolfsen was recognized by the San Francisco Business Times as one of the Most Influential Women in Bay Area Business for 2021. This award celebrates leaders showcasing creativity, vision, and perseverance. At a virtual event, Wolfsen shared her gratitude and commitment to empowering women in the industry. As of June 30, 2021, AssetMark managed $84.6 billion in assets, highlighting its significant presence in the financial advisory sector.
AssetMark Financial Holdings, Inc. (NYSE: AMK) will release its financial results for the quarter ending September 30, 2021, on November 9, 2021, after U.S. market close. A conference call and webcast will follow at 5:00 PM ET to discuss these results. Shareholders and interested parties can listen live via the AssetMark Investor Relations website or by pre-registering for the call to obtain participant dial-in information. As of June 30, 2021, AssetMark reported $84.6 billion in platform assets.
AssetMark Financial Holdings, Inc. (NYSE: AMK) reported significant growth in its "AssetMark Monthly Knowledge" Report for September 2021. Platform assets reached $86.8 billion, marking a 29.0% increase year-over-year. The company recorded net flows of $968 million, a remarkable 177.4% increase from the previous year. The number of households served also grew by 11.1% to 203,004. However, client cash declined by 1.9% year-over-year to $2.61 billion.
AssetMark Financial Holdings, Inc. (NYSE: AMK) reported significant growth in its August 2021 metrics. The platform's assets reached $88.5 billion, marking a 30.1% year-over-year increase. Net flows were recorded at $927 million, up 71.3% year-over-year. However, client cash at AssetMark Trust Company fell to $2.45 billion, down 6.8% from the previous year. The total number of households utilizing AssetMark's services also rose 10.3% year-over-year, totaling 200,778 households.
AssetMark (NYSE: AMK) has launched a new suite of separately managed accounts (SMAs) to help financial advisors meet the evolving needs of their clients. The suite includes twelve SMAs from ten top investment managers, expanding the AssetMark platform's offerings. This initiative aims to provide advisors with tailored portfolio options that enhance transparency and manage tax efficiency. Recognizing the growing demand for personalized investment strategies, AssetMark is committed to continually expanding its product suite to meet market needs.
AssetMark Financial Holdings, Inc. (NYSE: AMK) reported significant growth in its "AssetMark Monthly Knowledge" Report for July 2021. Platform assets reached $86.1 billion, reflecting a 31.3% year-over-year increase. The company achieved net flows of $935 million, up 193.3% year-over-year. However, cash held by AssetMark Trust Company clients decreased to $2.47 billion, down 5.0% year-over-year. Additionally, the number of households served rose 9.7% to 198,619.
AssetMark Financial Holdings, Inc. (NYSE: AMK) reported strong financial results for Q2 2021, with a net income of $10 million, or $0.14 per share, and adjusted net income of $26.6 million, or $0.36 per share, from total revenue of $128 million. Platform assets grew 33.8% year-over-year to $84.6 billion, benefiting from quarterly record net flows of $2.2 billion. The number of engaged advisors increased by 15.6%, while production lift from existing advisors rose to 26.6%. CEO Natalie Wolfsen highlighted a positive growth strategy, leading to record performance across key metrics.
AssetMark Financial Holdings, Inc. (NYSE: AMK) announced it will release its financial results for the quarter ended June 30, 2021, after U.S. market close on July 28, 2021. A conference call and webcast are scheduled for the same day at 5:00 PM ET to discuss these results. Interested parties can access the call live via the AssetMark Investor Relations website or by pre-registering for dial-in details. As of March 31, 2021, AssetMark had $78.9 billion in platform assets, emphasizing its role as a leading provider of wealth management and technology solutions.
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