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 |
4 - AssetMark Financial Holdings, Inc. (0001591587) (Issuer)
4 - AssetMark Financial Holdings, Inc. (0001591587) (Issuer)
4 - AssetMark Financial Holdings, Inc. (0001591587) (Issuer)
4 - AssetMark Financial Holdings, Inc. (0001591587) (Issuer)
4 - AssetMark Financial Holdings, Inc. (0001591587) (Issuer)
4 - AssetMark Financial Holdings, Inc. (0001591587) (Issuer)
4 - AssetMark Financial Holdings, Inc. (0001591587) (Issuer)
4 - AssetMark Financial Holdings, Inc. (0001591587) (Issuer)
4 - AssetMark Financial Holdings, Inc. (0001591587) (Issuer)
4 - AssetMark Financial Holdings, Inc. (0001591587) (Issuer)
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
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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-
CONCORD, Calif., June 20, 2024 (GLOBE NEWSWIRE) -- Wealth management platform AssetMark, Inc., a wholly owned subsidiary of AssetMark Financial Holdings, Inc. and a Registered Investment Adviser (collectively "AssetMark"), today announced a strategic alliance with Morningstar Wealth, a division of independent investing insights firm Morningstar, Inc. (NASDAQ:MORN). As part of the alliance, AssetMark will acquire approximately $12 billion in assets from the Morningstar Wealth Turnkey Asset Management Platform ("TAMP"). Financial advisors and clients on Morningstar Wealth's TAMP will have access to AssetMark's platform, which provides industry-leading service, advisor technology, business c
CONCORD, Calif., June 10, 2024 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE:AMK) released its "AssetMark Monthly Knowledge" Report today. Company results for the month of May 2024 include: Platform assets of $117.7 billion at the end of May, up 22.1% year-over-year.Net flows were $611 million in the month of May, down 4.1% year-over-year.AssetMark Trust Company client cash was $2.84 billion, down 3.7% year-over-year.Number of households increased 5.7% year-over-year to 260,756 at the end of May. Change Mo.Yr. May-23Jun-23Jul-23Aug-23Sep-23Oct-23Nov-23Dec-23Jan-24Feb-24Mar-24Apr-24May-24 PLATFORM METRICS Platfor
CONCORD, Calif., June 03, 2024 (GLOBE NEWSWIRE) -- AssetMark (NYSE:AMK), a leading wealth management platform for financial advisors, today announced the recipients of its 2024 Practice Excellence Awards. These awards, now in their seventh year, recognize financial advisory firms that have made significant achievements in the areas of operational excellence and technology adoption at AssetMark. This year's honorees are: 2024 Operations Excellence Award – Accuracy of Submitted Client RequestsSharla Rountree, Jill Ruckle, KC Butcher, Fred Apodaca, and Dylan Birkinsha, Personal Benefit Financial (Lakewood, CO)Brian Smith, B. Riley Wealth Management (Memphis, TN)Kevin Poulsen and Jeanie Bose
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
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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
AssetMark Financial Hldgs (NYSE:AMK) reported quarterly earnings of $0.66 per share which met the analyst consensus estimate. This is a 20 percent increase over earnings of $0.55 per share from the same period last year.
AssetMark Financial Hldgs (NYSE:AMK) reported quarterly earnings of $0.60 per share which missed the analyst consensus estimate of $0.61 by 1.64 percent. This is a 13.21 percent increase over earnings of $0.53 per share from the same period last year. The company reported quarterly sales of $190.27 million which beat the analyst consensus estimate of $146.60 million by 29.79 percent. This is a 7.76 percent increase over sales of $176.56 million the same period last year.
JP Morgan analyst Kenneth Worthington downgrades AssetMark Financial Hldgs (NYSE:AMK) from Overweight to Neutral and announces $37 price target.
AssetMark stockholders will receive $35.25 per share in cash, which represents a total equity valuation of approximately $2.7 billion. Under the terms of the agreement, GTCR will acquire a 100% interest in the Company. AssetMark's Board of Directors has unanimously approved the transaction and recommended the transaction to its stockholders. Upon completion of the transaction, AssetMark's common stock will no longer be listed on any public market.
Raymond James analyst Patrick O'Shaughnessy maintains AssetMark Financial Hldgs (NYSE:AMK) with a Strong Buy and raises the price target from $39 to $41.
AssetMark Financial Hldgs (NYSE:AMK) reported quarterly sales of $158.20 million which beat the analyst consensus estimate of $137.34 million by 15.19 percent. This is a 3.61 percent decrease over sales of $164.13 million the same period last year.
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AssetMark Financial Hldgs (NYSE:AMK) is set to give its latest quarterly earnings report on Wednesday, 2024-02-21. Here's what investors need to know before the announcement. Analysts estimate that AssetMark Financial Hldgs will report an earnings per share (EPS) of $0.57. AssetMark Financial Hldgs bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter. New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast). Past Earnings Performance Last quarter the company beat EPS by $0.04, which was foll