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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, Inc. (NYSE: AMK) has announced the release of its financial results for the quarter ended March 31, 2023. The results will be disclosed after the U.S. market closes on May 3, 2023. Following the announcement, the company will host a conference call and webcast at 5:00 pm ET to discuss the results. Interested parties can listen live via the AssetMark Investor Relations website or pre-register for the conference call to receive dial-in information. AssetMark specializes in wealth management solutions, serving approximately 9,200 financial advisors and about 243,000 investor households, with $91.5 billion in platform assets as of December 31, 2023.
AssetMark Financial Holdings, Inc. (NYSE: AMK) reported its monthly results for March 2023, showcasing a year-over-year increase in platform assets, which reached $96.2 billion, marking a growth of 5.9%. However, net flows decreased to $744 million, down 5.9% compared to the previous year. The company noted an increase in client cash to $3.19 billion, up 3.2%. The number of households served rose significantly, up 13.0% year-over-year to 243,775. This data serves as supplemental information and does not replace the financial statements filed for the year ending December 31, 2022.
AssetMark (NYSE: AMK) has appointed Josh Armey as the new Executive Vice President and Head of Corporate Strategy. Armey, with extensive experience in enterprise strategy, previously led the Transformation Office at Edward Jones, implementing strategies that enhanced firm-wide execution. His role at AssetMark involves driving strategic growth and enhancing long-term performance as the company evolves into a comprehensive wealth management platform. AssetMark, founded in 1996, currently serves 9,200 advisors and manages $91.5 billion in assets.
AssetMark Financial Holdings, Inc. (NYSE: AMK) published its February 2023 performance data, reporting platform assets of $94.3 billion, reflecting a 5.4% year-over-year increase. However, net flows dropped by 22.2% to $540 million compared to the previous year. Additionally, client cash with AssetMark Trust Company rose to $3.32 billion, a 16.1% increase from last February. The number of households served climbed 13.8% to 242,826.
AssetMark cautions that this preliminary monthly data is subject to revision and should not be seen as a definitive measure of future performance.
AssetMark Financial Holdings reported its fourth quarter and full-year 2022 financial results on February 22, 2023. The company achieved a net income of $25.6 million for Q4, a significant increase of 107.2% year-over-year, with an adjusted net income of $34.3 million. Total revenue for the quarter reached $164.1 million, showing a 14.3% increase. Despite a 2.2% decline in platform assets year-over-year to $91.5 billion, quarter-over-quarter assets rose by 15.2%. The company saw 908 million in net flows during Q4 and added 143 new producing advisors, enhancing its operational capacity.
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