Assetmark Financial Holdings Stock Price, News & Analysis

AssetMark Financial Holdings, Inc. (NYSE: AMK) reported a net loss of $9.9 million for Q4 2020, or $0.15 per share, while adjusted net income was $22.2 million, or $0.31 per share, on total revenue of $110.9 million. Platform assets rose 21% year-over-year, reaching $74.5 billion, boosted by net flows of $1.5 billion and a market impact of $5.7 billion. The company added 3,900 households and 177 new advisors in Q4. For the full year, total revenue increased to $432 million, with an adjusted net income of $73.3 million. AssetMark anticipates continued growth in 2021 with the launch of new initiatives.

AssetMark Financial Holdings, Inc. (NYSE: AMK) reported strong results in its January 2021 metrics. Platform assets reached $74.6 billion, marking a 20.7% year-over-year increase. Net flows totaled $494 million, up 4.7% year-over-year, while client cash at AssetMark Trust Company surged 39.4% to $2.44 billion. Additionally, the number of households served increased 14.9% to 188,057. These figures highlight the company's robust growth despite potential market challenges.

AssetMark Financial Holdings, Inc. (NYSE: AMK) announced it will release its financial results for the quarter ended December 31, 2020, after U.S. market close on February 11, 2021. A conference call and webcast will take place at 5:00 PM ET on the same day to discuss these results. AssetMark, a leader in wealth management and technology solutions, had $67 billion in platform assets as of September 30, 2020. Investors and interested parties can access the call via the AssetMark Investor Relations website or by pre-registering for dial-in details.

AssetMark (NYSE: AMK) forecasts a transformative year for the financial advisory industry in 2021, driven by evolving investor demands and technological advancements. Key insights include a growing need for advice from 40% of investors, potential client turnover as advisors adapt to digital services, and an increase in the independence of advisors from brokerages. The rise in ESG interest amidst advisor reluctance and the anticipated growth of advisor practices underline pivotal trends shaping the sector. AssetMark aims to support advisors with tailored technology solutions.

AssetMark Financial Holdings (NYSE: AMK) reported strong growth in December 2020 with platform assets reaching $74.5 billion, a 20.9% increase year-over-year. Net flows improved significantly, totaling $636 million, reversing a negative flow of $194 million in December 2019. The company's client cash also surged to $2.62 billion, marking a 39.4% annual rise. Additionally, the number of households served grew by 15.0% to 186,602.

AssetMark Financial Holdings, Inc. (NYSE: AMK) announced a new Credit Agreement with six banks, establishing a $250 million secured revolving Credit Facility. The company will draw $75 million from the new facility to pay off its existing $124 million term loan, which carried a LIBOR plus 3.00% interest rate. The new agreement offers lower borrowing costs with an initial interest rate of LIBOR plus 2.00%. The four-year Credit Facility aims to enhance financial flexibility for strategic growth and acquisitions in 2021.

On December 10, 2020, AssetMark Financial Holdings (NYSE: AMK) published its November 2020 metrics. The platform assets reached $71.8 billion, reflecting an 18.5% year-over-year increase. However, net flows decreased by 8.4% year-over-year, totaling $501 million for the month. Client cash at AssetMark Trust Company rose significantly, reaching $2.50 billion, marking a 43.7% upswing. The number of households serviced also increased by 13.8% to 184,935. These metrics indicate growth in assets and cash but highlight a decline in new business inflows.

AssetMark Financial Holdings, Inc. (NYSE: AMK) will attend several investor conferences in December 2020. Highlights include a presentation at the D.A. Davidson FinTech & Payments Spotlight Virtual Conference on December 3rd at 2:15 p.m. ET, followed by participation in the Goldman Sachs 2020 US Financial Services Conference on December 8th and 9th at 11:20 a.m. ET. Additionally, the company will engage in a group meeting at the BMO 2020 Growth & ESG Conference on December 8th. AssetMark, with $67.3 billion in platform assets as of September 30, 2020, offers comprehensive wealth management solutions.

AssetMark (NYSE: AMK) has partnered with CIBC Private Wealth to enhance investment management services for high-net-worth clients. This collaboration will provide AssetMark advisors access to CIBC Custom Portfolios, which offer tailored investment solutions and wealth planning strategies. The portfolios include a mix of equities and bonds designed for strong, risk-adjusted returns. David McNatt of AssetMark expressed enthusiasm for the partnership, highlighting its role in expanding high-net-worth solutions and enhancing the platform's offerings for advisors.