Assetmark Financial Holdings Stock Price, News & Analysis

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.

AssetMark Financial Holdings, Inc. (NYSE: AMK) reported its September 2022 results, revealing significant decreases in key metrics. Platform assets ended at $79.4 billion, marking an 8.5% decline year-over-year. Net flows also fell drastically to $228 million, down 76.4% year-over-year. In contrast, cash held by AssetMark Trust Company increased by 34.5% to $3.51 billion. The number of households served grew by 9.9%, reaching 223,098.

AssetMark Financial Holdings, Inc. (AMK) reported its August 2022 results, showing significant changes from the previous year. Platform assets decreased by 4.6% year-over-year to $84.4 billion. Net flows fell 34.7% to $605 million. However, client cash at AssetMark Trust Company rose 82.9% to $4.48 billion, indicating a strong cash position. The total number of households served increased by 10.6% to 222,110, reflecting growth in client acquisition despite the drop in asset flows.

AssetMark Financial Holdings, Inc. (NYSE: AMK) released its "Monthly Knowledge" Report for July 2022, indicating platform assets of $86.3 billion, a 0.2% year-over-year increase. However, net flows decreased significantly by 60.0% year-over-year to $374 million. Despite this decline in net flows, client cash increased by 45.7% year-over-year, reaching $3.60 billion. The number of households served also grew by 11.3%, totaling 221,104. This data is preliminary and subject to change.

AssetMark Financial Holdings reported strong second quarter 2022 results, with net income of $25.3 million ($0.34 per share) and adjusted EBITDA of $49.6 million, representing 32.8% of total revenue of $151.2 million. However, platform assets decreased 2.9% year-over-year to $82.1 billion, primarily due to a $10.1 billion negative market impact. The company welcomed over 4,500 new households and 193 advisors, reflecting growth in its platform. AssetMark's acquisition of Adhesion Wealth aims to enhance its service to the rapidly-growing RIA segment.

AssetMark Financial Holdings, Inc. (NYSE: AMK) will release its financial results for the quarter ending June 30, 2022, after U.S. market close on August 3, 2022. A conference call is scheduled for the same day at 5:00 PM ET to discuss these results. Interested parties can access the live webcast via the AssetMark Investor Relations website or pre-register for the conference call. AssetMark manages $90.8 billion in platform assets as of March 31, 2022, delivering wealth management and technology solutions to financial advisors.

AssetMark Financial Holdings, Inc. (NYSE: AMK) released its June 2022 performance report, highlighting key metrics affecting its business. Platform assets were $82.1 billion, reflecting a 3.0% decline year-over-year. Net flows dropped sharply to $383 million, down 59.0% compared to the prior year. However, cash at AssetMark Trust Company increased by 42.9% to $3.70 billion. The number of households served grew by 12.1% to 220,172. This monthly data is preliminary and should not be viewed as an indicator of the company's quarterly performance.

AssetMark Financial Holdings has agreed to acquire Adhesion Wealth, enhancing its wealth management technology solutions for registered investment advisors (RIAs). Adhesion serves over 2,800 fee-based advisors and is the second-largest model marketplace in the industry. This acquisition aims to expand AssetMark's offerings, including personal and direct indexing and practice analytics. The transaction is expected to close in the second half of 2022, pending customary conditions. Financial details of the deal were not disclosed, but it is anticipated to bolster AssetMark's capabilities in the rapidly growing RIA market.