AssetMark financial advisors continue to secure quarterly earnings wins for the Concord, California-based turnkey asset management program and outsourced investment technology firm.
The firm saw its second quarter 2023 net income climb 29.7% to $32.9 million from the $25.3 million it brought in one year before. Overall platform assets and assets from engaged advisors were also up year over year.
In a prepared statement released alongside the financials on Aug. 2, CEO Natalie Wolfsen said the company continues to grow, adding that the firm’s new producing advisors helped lock down all-time highs in revenue, adjusted EBITDA, adjusted net income and adjusted EPS — each of which increased by more than 20% year over year.
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“We ended the quarter with over $100 billion of platform assets, an all-time high,” Wolfsen said. “Our 2023 Net Promoter Score was a record 72, eclipsing our previous record by 5 points — a powerful testament to the value we bring to our over 9,300 advisors.
“The first half of the year has been outstanding, and I am excited to deliver what we have planned for advisors in the second half of 2023.”
To see the key takeaways from AssetMark’s earnings statements for financial advisors and other wealth management professionals, scroll down our slideshow.