AssetMark, Inc.

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AssetMark, Inc. - overview

About

Founded in 2008 and based in California, US, AssetMark, Inc. , formerly known as Genworth Wealth Management, operates as a global financial security company that helps clients with advice in retirement, investment, mortgage, and lifestyle protection. In April 2024, GTCR agreed to acquire AssetMark, Inc. from Huatai Securities for approximately USD 2.

7 billion, or USD 35. 25 per share in cash, in a public-to-private transaction. The deal is expected to be completed in Q4 2024. As of 2024, the company is led by its CEO and president, Michael Kim.

The company provides wealth management and technology solutions tailored to support financial advisors in managing their clients' diverse financial needs. The firm offers a range of services, including portfolio construction, investment research, and client communication tools. AssetMark provides personalized service and scalable support to meet the unique needs of each advisor. The company also offers curated investment solutions, including turnkey portfolios, custom high-net-worth solutions, and retirement services.

The April 2024 acquisition helps the organization to continuously accelerate its technology solutions and offerings to the financial market.

Primary Industry

Financial Services

Sub Industries

Consulting Services, Investment Banking

Website

www.assetmark.com/

Verticals

FinTech

Company Stage

Acquired

Total Amount Raised

Subscriber access only

AssetMark, Inc. - financials

Fiscal Year Ended	Dec 31, 2019	Dec 31, 2020	Dec 31, 2021	Dec 31, 2022	Dec 31, 2023
Revenue (USD)	417,936,000	432,079,000	-	-	-
% Revenue Growth (YoY)	-	3.4%	-	-	-
EBITDA (USD)	57,530,000	40,945,000	-	-	-
Operating Income (USD)	27,174,000	5,819,000	-	-	-
Operating Margin	6.5%	1.3%	-	-	-
% EBITDA Margin	13.8%	9.5%	-	-	-
NET Income (USD)	(420,000)	(7,812,000)	-	-	-
% Net Margin	(0.1%)	(1.8%)	-	-	-

AssetMark, Inc. - deals

Deals Type	Deal Status	Target (s)	Deal Date
Public to Private, Secondary Buyout	Completed	AssetMark, Inc.	-
IPO	Completed	AssetMark, Inc.	-
LP Direct, Trade Sale	Completed	AssetMark, Inc.	-
Buyout	Completed	AssetMark, Inc.	-

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