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, Inc. (AMK) announced its January 2023 metrics, reporting a 5.9% increase year-over-year in platform assets, totaling $95.8 billion. However, net flows decreased significantly by 46.6% from the previous year, amounting to $347 million. The company's client cash reached $3.32 billion, reflecting a 16.5% rise compared to January 2022. Additionally, the number of households served grew by 14.6% year-over-year to 242,572. This monthly report is preliminary and does not substitute for formal financial statements.
AssetMark Financial Holdings (AMK) will report its financial results for the quarter ended December 31, 2022, after the U.S. market close on February 22, 2023. Following the release, a conference call will be hosted at 5:00 pm ET to discuss the results. Investors and interested parties can listen to the call through the AssetMark Investor Relations website or via a pre-registration process to receive dial-in numbers and a passcode. AssetMark focuses on providing wealth management and technology solutions tailored for independent financial advisors.
AssetMark Financial Holdings, Inc. (NYSE: AMK) announced the December 2022 metrics in its AssetMark Monthly Knowledge Report, revealing a total platform asset of $91.5 billion, down 2.1% year-over-year, including $6.8 billion from Adhesion Wealth Advisor Solutions. Total net flows for December were $345 million, reflecting a 67.5% decline year-over-year. However, cash at AssetMark Trust Company rose by 20.8% to $3.54 billion, and the number of households increased by 14.8% to 241,053.
AssetMark has completed its acquisition of Adhesion Wealth, a prominent provider of wealth management technology. This strategic move aims to empower growth-focused advisors, enhancing service offerings with a combined suite of technology solutions. AssetMark acquired $7.3 billion in billable assets as of November 30, 2022, for $46 million plus transaction costs. Adhesion will continue operating as a standalone entity while leveraging AssetMark's resources to improve client outcomes.
AssetMark Financial Holdings, Inc. (NYSE: AMK) reported platform assets of $87.1 billion for November 2022, a 3.0% decline year-over-year. Net flows fell significantly to $280 million, a 71.8% decrease compared to the previous year. Notably, cash held by AssetMark Trust Company clients increased to $3.27 billion, up 24.8% year-over-year. The number of households served rose to 224,983, reflecting an 8.5% growth. AssetMark cautioned that these figures are preliminary and subject to change.
AssetMark Financial Holdings, Inc. (NYSE: AMK) reported its October 2022 performance, revealing platform assets of $82.8 billion, an 8.3% decline year-over-year. The net flows dropped to $283 million, down 68.3% compared to last year. However, client cash in the AssetMark Trust Company increased to $3.49 billion, marking a 43.6% rise year-over-year. The number of households also grew by 9.4% to 225,103.
AssetMark Financial Holdings, Inc. (NYSE: AMK) announced its participation in three investor conferences in Q4 2022. On November 8, it will host meetings at the Wolfe Research Wealth Symposium in New York. Following this, on November 15, the company will take part in a virtual NDR with William Blair. Lastly, on December 6, AssetMark will engage at the Goldman Sachs 2022 US Financial Services Conference in New York. Interested analysts and portfolio managers should contact the respective hosts for meeting requests.
AssetMark Financial Holdings reported strong Q3 2022 results, with net income reaching $30.1 million ($0.41/share) and total revenue of $154.7 million. Adjusted EBITDA was $52.7 million, marking a 34% margin. However, platform assets decreased by 8.6% year-over-year to $79.4 billion, primarily due to a $4 billion negative market impact. The company welcomed over 2,900 new households and 159 new advisors. Despite challenges, the company showcased a 14.9% annualized production lift from existing advisors, indicating solid organic growth.
AssetMark Financial Holdings, Inc. (NYSE: AMK) announced its upcoming financial results for the quarter ending September 30, 2022, set to be released after U.S. market close on November 1, 2022. A conference call and webcast will follow at 5:00 pm ET on the same day to discuss the results. Shareholders and interested parties can access the call either via the internet or by pre-registering for dial-in access. As of June 30, 2022, AssetMark reported $82.1 billion in platform assets, highlighting its significant role in the wealth management sector.
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.?
