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 |
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-