AssetMark Financial Holdings, Inc. provides wealth management and technology solutions in the United States. The company offers an open-architecture product platform, as well as client advice, asset allocation options, practice management, support services, and technology to the financial adviser channel. It provides integrated technology platform for advisers for accessing a range of automated processes, including new account opening, portfolio construction, streamlined financial planning, customer billing, investor reporting, progress to goal analysis, and client activity tracking; advisory services; and curated investment platform. The company also offers mutual funds to clients of financial advisers; custodial recordkeeping services primarily to investor clients of registered investment advisers; record-keeper and third-party administrator services for retirement products; wealth management services for institutional and individual investors; and insurance services on an intermediary basis. It serves independent advisers who provide wealth management advice to the U.S. investors. The company was founded in 1996 and is headquartered in Concord, California. AssetMark Financial Holdings, Inc. operates as a subsidiary of Huatai International Investment Holdings Limited.
IPO Year: 2019
Exchange: NYSE
Website: assetmark.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 4/26/2024 | $37.00 | Overweight → Neutral | JP Morgan |
| 4/25/2024 | Outperform → Mkt Perform | William Blair | |
| 1/23/2023 | $24.00 → $32.00 | Neutral → Overweight | JP Morgan |
| 7/25/2022 | Outperform | William Blair | |
| 11/10/2021 | $41.00 → $45.00 | Strong Buy | Raymond James |
| 11/10/2021 | $30.00 → $35.00 | Outperform | Credit Suisse |
| 7/29/2021 | $38.00 → $41.00 | Strong Buy | Raymond James |
| 7/13/2021 | $34.00 → $38.00 | Strong Buy | Raymond James |
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CONCORD, Calif., Dec. 17, 2024 (GLOBE NEWSWIRE) -- AssetMark, Inc., a leading provider of wealth management and technology solutions for financial advisors, today announced that it has been named Winner of the ThinkAdvisor 2024 Luminaries Award for Innovation in the Business Development segment for its Tax Management Services (TMS). Now in its fourth year, the ThinkAdvisor Luminaries Awards redefine excellence in financial services, shining a spotlight on outstanding contributions from both organizations and individuals. AssetMark's Tax Management Services was developed to help financial advisors enhance their clients' investment outcomes by managing taxes more effectively. The soluti
CONCORD, Calif., Dec. 10, 2024 (GLOBE NEWSWIRE) -- AssetMark, Inc., a leading provider of wealth management and technology solutions for financial advisors, today announced the appointment of Erin Wood, CFP®, FBS®, as Senior Vice President of Advanced Planning. In this role, Wood will spearhead the development and introduction of AssetMark's advanced planning offering, which will focus on delivering tailored strategies for estate planning, tax efficiency, retirement planning, and multi-generational wealth transfer to support financial advisors as they address the evolving needs of investors across the wealth spectrum. Wood joins AssetMark with over two decades of experience leading financ
CONCORD, Calif., Dec. 02, 2024 (GLOBE NEWSWIRE) -- AssetMark, Inc., a leading provider of wealth management and technology solutions for financial advisors, today announced the close of its acquisition of Morningstar Wealth's Turnkey Asset Management Platform (TAMP) assets. This acquisition, a key milestone in the strategic alliance between AssetMark and Morningstar Wealth, brings approximately $12 billion in assets to AssetMark's platform, broadening its array of investment solutions for financial advisors and their clients. "The alliance between Morningstar Wealth and our acquisition of their TAMP assets marks a significant milestone for our company, our advisors, and their clients," sa
CONCORD, Calif., Nov. 14, 2024 (GLOBE NEWSWIRE) -- AssetMark, Inc., a leading provider of wealth management and technology solutions for financial advisors, and Cheetah, a cloud-based trust accounting system, are proud to announce the continued success of their strategic collaboration. Since joining forces, they have delivered a unified wealth management solution that is driving growth, efficiency, and profitability for financial institutions like First State Bank (FSB), Texas' oldest state-chartered bank. Since January 2024, FSB has been leveraging this integrated solution, developed through the AssetMark-Cheetah partnership, resulting in significant operational improvements and position
CONCORD, Calif., Sept. 12, 2024 (GLOBE NEWSWIRE) -- AssetMark, a leading provider of wealth management and technology solutions for financial advisors, announced the addition of Morningstar Wealth, a division of independent investing insights firm Morningstar, as a third-party strategist on the AssetMark Platform. This launch will enable financial advisors currently working with AssetMark to access a wide range of model portfolios and separately managed accounts ("SMAs") from the Morningstar Investment Management team which has approximately $316 billion of assets under management and advisement ("AUMA") globally. Today's addition of the Morningstar Wealth strategies marks a further step
CONCORD, Calif., Sept. 05, 2024 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. ("the Company"), a leading wealth management technology platform for financial advisors, today began a new era of strategic growth and expansion by announcing the closing of its acquisition by GTCR, a leading private equity firm with substantial investment expertise in financial technology, wealth, and asset management. The closing of the acquisition marks a significant milestone in AssetMark's journey and concludes a successful, multiyear partnership with Huatai Securities. With the completion of the go-private transaction, AssetMark will now operate as an independent, privately owned company. Concurr
CONCORD, Calif., Aug. 12, 2024 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE:AMK) released its "AssetMark Monthly Knowledge" Report today. Company results for the month of July 2024 include: Platform assets of $122.2 billion at the end of July, up 18.4% year-over-year. Morningstar Wealth TAMP assets are not included in our total as the deal has been signed, but is not closed. Net flows were $437 million in the month of July, down 19.1% year-over-year.AssetMark Trust Company client cash was $2.75 billion, down 1.4% year-over-year.Number of households increased 5.0% year-over-year to 261,271 at the end of July. Change Mo
CONCORD, Calif., Aug. 12, 2024 (GLOBE NEWSWIRE) -- AssetMark (NYSE:AMK), a leading wealth management platform for financial advisors, today announced the expansion of its Cash Solutions suite with the addition of FDIC-insured certificates of deposit (CD Plus) and purchased Money Market Funds (MMFs). This strategic initiative enhances AssetMark's existing offerings, empowering advisors to capitalize on the estimated $8 billion share of wallet opportunity within the wealth client cash holding space, as identified by AssetMark's analysis. "Cash is a critical component of any sound financial plan, yet it has often been overlooked," said David McNatt, EVP, Head of Investment Solutions at Asset
CONCORD, Calif., July 18, 2024 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE:AMK) today announced financial results for the quarter ended June 30, 2024. Second Quarter 2024 Financial and Operational Highlights Net income for the quarter was $32.3 million, or $0.43 per share.Adjusted net income for the quarter was $49.8 million, or $0.66 per share, on total revenue of $198.5 million.Adjusted EBITDA for the quarter was $71.9 million, or 36.2% of total revenue.Platform assets increased 18.5% year-over-year to $119.4 billion. Quarter-over-quarter platform assets were up 2.1%, due to market impact net of fees of $0.8 billion and quarterly net flows of $1
CONCORD, Calif., July 10, 2024 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE:AMK) released its "AssetMark Monthly Knowledge" Report today. Company results for the month of June 2024 include: Platform assets of $119.4 billion at the end of June, up 18.5% year-over-year. Morningstar Wealth TAMP assets are not included in our total as the deal has been signed, but is not closed. Net flows were $397 million in the month of June, down 36.4% year-over-year.AssetMark Trust Company client cash was $2.93 billion, down 0.3% year-over-year.Number of households increased 5.4% year-over-year to 261,341 at the end of June. Change Mo.Yr. Jun-
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JP Morgan downgraded AssetMark from Overweight to Neutral and set a new price target of $37.00
William Blair downgraded AssetMark from Outperform to Mkt Perform
JP Morgan upgraded AssetMark from Neutral to Overweight and set a new price target of $32.00 from $24.00 previously
William Blair resumed coverage of AssetMark with a rating of Outperform
Raymond James reiterated coverage of AssetMark Financial Hldgs with a rating of Strong Buy and set a new price target of $45.00 from $41.00 previously
Credit Suisse reiterated coverage of AssetMark Financial Hldgs with a rating of Outperform and set a new price target of $35.00 from $30.00 previously
Raymond James reiterated coverage of AssetMark Financial Hldgs with a rating of Strong Buy and set a new price target of $41.00 from $38.00 previously
Raymond James reiterated coverage of AssetMark Financial Hldgs with a rating of Strong Buy and set a new price target of $38.00 from $34.00 previously
Raymond James upgraded AssetMark Financial Hldgs from Outperform to Strong Buy and set a new price target of $34.00
Raymond James reiterated coverage of AssetMark Financial Hldgs with a rating of Outperform and set a new price target of $34.00 from $33.00 previously
CONCORD, Calif., July 18, 2024 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE:AMK) today announced financial results for the quarter ended June 30, 2024. Second Quarter 2024 Financial and Operational Highlights Net income for the quarter was $32.3 million, or $0.43 per share.Adjusted net income for the quarter was $49.8 million, or $0.66 per share, on total revenue of $198.5 million.Adjusted EBITDA for the quarter was $71.9 million, or 36.2% of total revenue.Platform assets increased 18.5% year-over-year to $119.4 billion. Quarter-over-quarter platform assets were up 2.1%, due to market impact net of fees of $0.8 billion and quarterly net flows of $1
CONCORD, Calif., May 01, 2024 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE:AMK) today announced financial results for the quarter ended March 31, 2024. First Quarter 2024 Financial and Operational Highlights Net income for the quarter was $38.0 million, or $0.51 per share.Adjusted net income for the quarter was $45.2 million, or $0.60 per share, on total revenue of $190.3 million.Adjusted EBITDA for the quarter was $65.9 million, or 34.6% of total revenue.Platform assets increased 21.5% year-over-year to $116.9 billion. Quarter-over-quarter platform assets were up 7.3%, due to market impact net of fees of $6.1 billion and quarterly net flows of $1.8 billion.Year-t
CONCORD, Calif., Feb. 21, 2024 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE:AMK) today announced financial results for the quarter ended December 31, 2023. Fourth Quarter 2023 Financial and Operational Highlights Net income for the quarter was $34.6 million, or $0.47 per share.Adjusted net income for the quarter was $44.0 million, or $0.59 per share, on total revenue of $158.2 million.Adjusted EBITDA for the quarter was $63.8 million, or 40.3% of total revenue.Platform assets increased 19.1% year-over-year to $108.9 billion. Quarter-over-quarter platform assets were up 9.4%, due to market impact net of fees of $8.1 billion and quarterly net flows of $1.3 billion.Annua
CONCORD, Calif., Feb. 08, 2024 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE:AMK) today announced that it will release financial results for its quarter ended December 31, 2023, after the U.S. market close on Wednesday, February 21, 2024. AssetMark will host a conference call and webcast that day at 5:00 pm ET to discuss its results. AssetMark invites shareholders and other interested parties to listen to its financial results conference call live, either over the Internet or via dial-in. Listeners can access the webcast at the AssetMark Investor Relations website at ir.assetmark.com. Alternatively, listeners can pre-register for the conference call here: https://www.netr
CONCORD, Calif., Nov. 06, 2023 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE:AMK) today announced financial results for the quarter ended September 30, 2023. Third Quarter 2023 Financial and Operational Highlights Net income for the quarter was $38.4 million, or $0.52 per share.Adjusted net income for the quarter was $46.0 million, or $0.62 per share, on total revenue of $190.5 million.Adjusted EBITDA for the quarter was $66.5 million, or 34.9% of total revenue.Platform assets increased 25.5% year-over-year to $99.6 billion. Quarter-over-quarter platform assets were down 1.2%, due to negative market impact net of fees of $2.7 billion, partially offset by quarte
CONCORD, Calif., Oct. 24, 2023 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE:AMK) today announced that it will release financial results for its quarter ended September 30, 2023, after the U.S. market close on Monday, November 6, 2023. AssetMark will host a conference call and webcast that day at 5:00 pm ET to discuss its results. AssetMark invites shareholders and other interested parties to listen to its financial results conference call live, either over the Internet or via dial-in. Listeners can access the webcast at the AssetMark Investor Relations website at ir.assetmark.com. Alternatively, listeners can pre-register for the conference call here: https://www.n
CONCORD, Calif., July 24, 2023 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE:AMK) today announced that it will release financial results for its quarter ended June 30, 2023, after the U.S. market close on Wednesday, August 2, 2023. AssetMark will host a conference call and webcast that day at 5:00 pm ET to discuss its results. AssetMark invites shareholders and other interested parties to listen to its financial results conference call live, either over the Internet or via dial-in. Listeners can access the webcast at the AssetMark Investor Relations website at ir.assetmark.com. Alternatively, listeners can pre-register for the conference call here: https://www.netro
CONCORD, Calif., May 03, 2023 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE:AMK) today announced financial results for the quarter ended March 31, 2023. First Quarter 2023 Financial and Operational Highlights Net income for the quarter was $17.2 million, or $0.23 per share.Adjusted net income for the quarter was $39.7 million, or $0.53 per share, on total revenue of $176.6 million.Adjusted EBITDA for the quarter was $58.8 million, or 33.3% of total revenue.Platform assets increased 5.9% year-over-year to $96.2 billion. Quarter-over-quarter platform assets were up 5.2%, due to market impact net of fees of $3.1 billion, and quarterly net flows of $1.6 billion.Year-to
CONCORD, Calif., April 20, 2023 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE:AMK) today announced that it will release financial results for its quarter ended March 31, 2023, after the U.S. market close on Wednesday, May 3, 2023. AssetMark will host a conference call and webcast that day at 5:00 pm ET to discuss its results. AssetMark invites shareholders and other interested parties to listen to its financial results conference call live, either over the Internet or via dial-in. Listeners can access the webcast at the AssetMark Investor Relations website at ir.assetmark.com. Alternatively, listeners can pre-register for the conference call here: https://www.netroadshow.
CONCORD, Calif., Feb. 22, 2023 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE:AMK) today announced financial results for the quarter and full year ended December 31, 2022. Fourth Quarter 2022 Financial and Operational Highlights Net income for the quarter was $25.6 million, or $0.35 per share.Adjusted net income for the quarter was $34.3 million, or $0.46 per share, on total revenue of $164.1 million.Adjusted EBITDA for the quarter was $52.9 million, or 32.2% of total revenue.Platform assets decreased 2.2% year-over-year to $91.5 billion. Quarter-over-quarter platform assets were up 15.2%, due to adding $6.9 billion from the acquisition of Adhesion Wealth, market impact net
CONCORD, Calif., Dec. 10, 2024 (GLOBE NEWSWIRE) -- AssetMark, Inc., a leading provider of wealth management and technology solutions for financial advisors, today announced the appointment of Erin Wood, CFP®, FBS®, as Senior Vice President of Advanced Planning. In this role, Wood will spearhead the development and introduction of AssetMark's advanced planning offering, which will focus on delivering tailored strategies for estate planning, tax efficiency, retirement planning, and multi-generational wealth transfer to support financial advisors as they address the evolving needs of investors across the wealth spectrum. Wood joins AssetMark with over two decades of experience leading financ
CONCORD, Calif., Sept. 05, 2024 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. ("the Company"), a leading wealth management technology platform for financial advisors, today began a new era of strategic growth and expansion by announcing the closing of its acquisition by GTCR, a leading private equity firm with substantial investment expertise in financial technology, wealth, and asset management. The closing of the acquisition marks a significant milestone in AssetMark's journey and concludes a successful, multiyear partnership with Huatai Securities. With the completion of the go-private transaction, AssetMark will now operate as an independent, privately owned company. Concurr
CONCORD, Calif., April 03, 2023 (GLOBE NEWSWIRE) -- AssetMark (NYSE:AMK) today announced the appointment of Josh Armey as Executive Vice President and Head of Corporate Strategy. In his new role, Armey will serve as a member of the firm's Executive Committee and will work with leaders across the organization to accelerate strategic growth and maximize AssetMark's long-term performance. Armey brings decades of experience in enterprise strategy and transformation, having most recently served as the Head of Transformation at Edward Jones. There, he established the firm's Transformation Office and implemented a framework and processes for achieving their transformation vision, ultimately
Technology Executive Brings Experience in Achieving Transformational Outcomes to Integrated B2B Payments Leader Billtrust (NASDAQ:BTRS), a B2B accounts receivable automation and integrated B2B payments leader, has announced that John W. Murray has joined its Board of Directors, effective April 22, 2022. Mr. Murray will serve as a member of Billtrust's Nominating and Corporate Governance and Compensation Committees. A technology executive, entrepreneur and investor with experience in start-up, midsize and enterprise organizations, John has a successful track record leading organizations through periods of change. John is currently a strategic advisor and consultant for The Riverside Company
CONCORD, Calif., April 11, 2022 (GLOBE NEWSWIRE) -- AssetMark, a leading provider of wealth management and technology solutions for financial advisors, announced it has appointed Christian Chan, CFA® as Chief Investment Officer. In this role, Chan will oversee the investment management and research teams responsible for the full suite of AssetMark-managed solutions, representing $24.7B in AUM. Chan will drive the continual innovation of the AssetMark investment platform, overseeing the management and creation of client-centric, outcome-oriented investment offerings across asset classes. AssetMark currently offers a range of strategies backed by extensive research and experienced investmen