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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 (NYSE: AMK) announces that CEO Charles Goldman will speak at the FPA of Miami Symposium on November 19, 2020. His presentation, titled 'The Future of Financial Advice,' will address evolving investor demands for lower-cost, holistic, and technology-supported solutions. Goldman aims to guide financial advisors on enhancing services and building meaningful client relationships amidst increasing pressures. The symposium, offering seven hours of CE credit, will feature notable speakers from the financial services sector.
AssetMark Financial Holdings, Inc. (NYSE: AMK) reported key metrics for October 2020, highlighting platform assets of $66.5 billion, a 12.3% increase year-over-year. However, net flows decreased significantly, totaling $396 million, a 47.5% decline from the previous year. On a positive note, client cash at AssetMark Trust Company rose to $2.47 billion, a 38.8% year-over-year increase, and the number of households served rose 14.0% to 183,774.
AssetMark Financial Holdings, Inc. (NYSE: AMK) reported its third quarter 2020 results, showcasing a net income of $8.6 million ($0.12 per share) and an adjusted net income of $18.2 million ($0.25 per share) on total revenue of $107.1 million. Platform assets surged 16.2% year-over-year to $67.3 billion, driven by $1.2 billion in net flows and a market impact of $2.8 billion. The company welcomed over 3,500 new households and 171 new advisors during the quarter, while maintaining an adjusted EBITDA of $29.3 million. The CEO emphasized growth strategies focused on enhancing advisor productivity and expanding channels.
AssetMark announced that two of its executives, Carrie Hansen and Natalie Wolfsen, received Silver Stevie Awards for Female Executive of the Year in the business services category. These awards highlight their leadership in enhancing financial services and supporting advisors during the pandemic. Hansen successfully transitioned 100% of operations online in two days, while Wolfsen advocated for inclusion and advisor-client relationships. The winners will be honored at a virtual ceremony on December 9. With $63 billion in platform assets as of June 30, 2020, AssetMark continues to expand its wealth management solutions.
AssetMark Financial Holdings, Inc. (NYSE: AMK) will release its Q3 financial results on November 10, 2020, after market close. A conference call will follow at 5:00 PM ET for discussion of these results. The company, a leader in wealth management solutions, reported $63.2 billion in platform assets as of June 30, 2020. Interested parties can listen to the call via webcast or by dial-in, with pre-registration available online.
AssetMark Financial Holdings (NYSE: AMK) reported significant growth in its September 2020 metrics. Platform assets reached $67.3 billion, marking a 16.2% increase year-over-year. The company experienced net flows of $349 million for September, up 11.9% year-over-year, with a total of $1.2 billion in net flows for Q3. Excluding the acquisition of OBS Financial, flows amounted to $485 million. The AssetMark Trust Company saw client cash rise to $2.66 billion, a remarkable 52.0% increase. The number of households utilizing the platform rose by 14.5% to 182,683.
AssetMark (NYSE: AMK) has launched a new series of investor-facing webinars and marketing tools to help financial advisors adapt amidst the pandemic. These resources aim to enhance client satisfaction and drive business growth through virtual interactions. Key offerings include a guide for a smart marketing plan, sample calendars, and investor-tailored webinars. A recent report indicated only 12% of clients engaged via video conferencing, highlighting a need for improved digital engagement strategies. The initiative reflects AssetMark's commitment to equipping advisors with necessary tools for success during this challenging period.
AssetMark (NYSE: AMK) announced two new digital tools: the enhanced Client Proposal and PortfolioReview, aimed at improving advisor-client interactions. The enhanced Client Proposal allows advisors to present personalized financial analyses clearly and engagingly, thereby increasing client trust. PortfolioReview enhances portfolio monitoring through dynamic, interactive features tailored for virtual meetings, fostering deeper discussions. These innovations are positioned to support advisors in navigating market volatility and driving client satisfaction.
AssetMark Financial Holdings, Inc. (NYSE: AMK) released its August 2020 report, highlighting strong performance metrics. The platform assets reached $68.0 billion, marking a 19.1% increase year-over-year. Net flows increased to $541 million, up 6.7% year-over-year. Client cash at AssetMark Trust Company saw a significant rise of 66.5%, totaling $2.63 billion. Additionally, the number of households served grew by 15.0% to 181,977. This data is preliminary and does not substitute for formal financial statements.
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