Assetmark Financial Holdings Stock Price, News & Analysis

AssetMark Financial Holdings, Inc. (NYSE: AMK) will participate in the Morgan Stanley US Financials, Payments & CRE Conference on June 15, 2022, in New York, NY. The company will hold one-on-one and group meetings at the event. AssetMark's presentation is scheduled for 4:00 PM ET and will be available for live streaming via webcast at their investor relations website. AssetMark is a prominent provider of wealth management and technology solutions, assisting independent financial advisors and their clients to enhance their financial strategies.

AssetMark Financial Holdings (AMK) reported its monthly metrics for April 2022, indicating a mixed performance. As of April, platform assets rose to $86.0 billion, a 5.3% increase year-over-year. However, net flows dropped significantly to $376 million, reflecting a 51.8% decline compared to the previous year. Additionally, client cash increased to $2.92 billion, up 17.7% year-over-year, while the number of households served grew by 13.0% to 218,508.

AssetMark Financial Holdings reported strong first quarter results for 2022, with a net income of $22.2 million or $0.30 per share, and an adjusted net income of $28.8 million or $0.39 per share on total revenue of $148.3 million. Despite a 2.9% decline in platform assets quarter-over-quarter to $90.8 billion, the company achieved a 15.1% year-over-year increase. The quarterly net flows were $2.1 billion, leading to 9.1% annualized net flows as a percentage of beginning-of-year assets. The results indicate strong advisor relationships and continued growth in operational metrics.

Billtrust (NASDAQ: BTRS) has appointed John W. Murray to its Board of Directors, effective April 22, 2022. Murray brings extensive experience in technology and entrepreneurship, previously leading organizations through significant transformations. He will serve on Billtrust’s Nominating, Corporate Governance, and Compensation Committees. Known for driving innovation and maximizing shareholder value, Murray is currently a strategic advisor at The Riverside Company. This appointment aligns with Billtrust's ambitions for global expansion and innovation in B2B accounts receivable automation.

AssetMark Financial Holdings, Inc. (AMK) released its "AssetMark Monthly Knowledge" Report for March 2022, highlighting key metrics. The platform assets reached $90.8 billion, a 15.1% increase year-over-year. However, net flows declined to $791 million, down 12.2% year-over-year. On a positive note, client cash at AssetMark Trust Company increased to $3.09 billion, up 23.6%. The total number of households served also rose by 13.0% to 215,668.

AssetMark has appointed Christian Chan, CFA, as its new Chief Investment Officer. He will lead the investment management and research teams overseeing $24.7 billion in assets under management (AUM). Chan, with over 25 years of asset management experience, aims to enhance AssetMark's investment platform by providing high-quality, diversified investment strategies tailored for financial advisors and their clients. His previous role involved managing $25 billion at Allspring Investments. The firm, with a history of innovative wealth management solutions, had $93.5 billion in platform assets as of December 31, 2021.

AssetMark Financial Holdings, Inc. (NYSE: AMK) has announced it will release its financial results for the quarter ended March 31, 2022, after U.S. market close on April 28, 2022. The company will host a conference call at 5:00 pm ET on the same day to discuss these results. Interested shareholders and parties can listen to the call either online or via dial-in. As of December 31, 2021, AssetMark had $93.5 billion in platform assets.

AssetMark's Impact of Outsourcing Study revealed that 92% of financial advisors outsourcing investment management are satisfied, a significant rise from 83% in 2019. The study surveyed over 750 advisors, highlighting key motivations for outsourcing: enhanced client service, improved work-life balance, and accelerated growth in assets. Advisors reported saving an average of over seven hours weekly due to outsourcing. However, 65% of non-outsourcing advisors expressed concerns over higher fees, while others feared losing control or customization options. AssetMark managed $93.5 billion in assets as of December 31, 2021.