Welcome to our dedicated page for AssetMark Financial Holdings news (Ticker: AMK), a resource for investors and traders seeking the latest updates and insights on AssetMark Financial Holdings stock.
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 substantial growth in its June 2021 metrics. The platform assets reached $84.6 billion, reflecting a 33.9% year-over-year increase. Net flows surged to $934 million, an impressive 161.6% rise from the previous year. However, the client cash at AssetMark Trust Company decreased to $2.59 billion, down 12.5% year-over-year. Additionally, the number of households served grew by 9.7% to 196,474 by the end of June.
AssetMark Financial Holdings (NYSE: AMK) has completed its acquisition of Voyant for approximately $145 million, which includes $120 million in cash and 994,028 shares of common stock. This strategic acquisition enhances AssetMark's wealth management capabilities, allowing advisors to deepen client relationships with innovative financial planning technology. Voyant adds a global footprint with over 20,000 advisors and promises long-term growth and earnings diversification for AssetMark. The deal, primarily funded through corporate cash and credit facilities, positions AssetMark favorably in the competitive market.
AssetMark Financial Holdings (NYSE: AMK) reported May 2021 metrics, showcasing strong growth despite some challenges. Platform assets reached $83.0 billion, a 33.9% increase year-over-year. Net flows for May surged to $514 million, a 275.2% jump year-over-year, although this was affected by $424 million outflows from two advisors departing the platform. Excluding these outflows, net flows were $938 million. Notably, client cash declined 9.9% year-over-year to $2.56 billion, while the number of households grew 8.7% to 193,833.
AssetMark announced the promotion of David McNatt to Executive Vice President, Head of Investment Solutions. Previously Senior Vice President of Product Strategy, he has 6 years of experience at AssetMark and has launched over 45 products worth $160B. In his new role, McNatt will oversee Product Strategy & Development, Platform Investment Strategy, Investment Management, and Investment Service Operations. His leadership is expected to enhance investment innovation and growth as AssetMark continues to evolve its services to meet advisor and investor needs.
AssetMark Financial Holdings (NYSE: AMK) announced its participation in two key investor conferences in June 2021. The events include the 41st Annual William Blair Growth Stock Conference on June 1 and the Morgan Stanley US Financials Conference on June 14 at 12:30 p.m. ET. AssetMark will host one-on-one and group meetings throughout both days. As of March 31, 2021, AssetMark managed $78.9 billion in platform assets, leveraging over 20 years of experience in providing wealth management solutions.
AssetMark Financial Holdings, Inc. reported significant growth in its April 2021 metrics. The company's platform assets reached $81.7 billion, marking a 36.6% increase year-over-year. Net flows surged to $780 million, up 88.4% from the previous year. However, client cash at AssetMark Trust Company decreased to $2.48 billion, down 18.4% year-over-year. The number of households served rose 8.6% to 193,325.
AssetMark Financial Holdings (NYSE: AMK) reported its Q1 2021 results, revealing a net loss of $8.9 million, equating to $0.13 per share. However, adjusted net income stood at $22.2 million or $0.30 per share, with total revenue reaching $119 million. The company experienced a 40.8% year-over-year growth in platform assets, totaling $78.9 billion, buoyed by record net flows of $1.9 billion. With over 8,400 advisors and 190,900 investor households, the firm noted a 21.8% annualized production lift from existing advisors, indicating strong organic growth.
AssetMark has announced its inaugural Institutional RIA Summit, a free virtual event scheduled for May 25-26, 2021. The summit aims to address key topics relevant to registered independent advisors (RIAs), including growth trends, technology leverage, and private market investments. Notable speakers include Kevin O’Leary from Shark Tank and Michael Kitces, Publisher of Nerd's Eye View. CEO Natalie Wolfsen emphasizes the summit's goal is to provide valuable insights and strategies to help RIAs adapt to industry changes and client needs.
FAQ
What is the current stock price of AssetMark Financial Holdings (AMK)?
What is the market cap of AssetMark Financial Holdings (AMK)?
What does AssetMark Financial Holdings, Inc. do?
How many financial advisors does AssetMark serve?
What is the total value of assets on AssetMark's platform?
What recent acquisition has AssetMark announced?
How does AssetMark support financial advisors?
Where is AssetMark based?
What sets AssetMark apart in the wealth management industry?
What is the value proposition of AssetMark for independent financial advisors?
What major achievements did AssetMark report for the first quarter of 2024?
How can I learn more about AssetMark Financial Holdings, Inc.?
