Financial Performance - AssetMark Financial reported quarterly earnings of $0.66 per share, matching the Zacks Consensus Estimate, and an increase from $0.55 per share a year ago [1] - The company posted revenues of $198.49 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 2.70%, compared to $183.23 million in the same quarter last year [1] - Over the last four quarters, AssetMark has surpassed consensus EPS estimates two times and revenue estimates three times [1] Market Performance - AssetMark Financial shares have increased by approximately 14.9% since the beginning of the year, while the S&P 500 has gained 17.2% [2] - The stock is currently rated Zacks Rank 2 (Buy), indicating expectations of outperforming the market in the near future [4] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.69 on revenues of $197.43 million, and for the current fiscal year, it is $2.65 on revenues of $777.06 million [4] - The trend for estimate revisions ahead of the earnings release was favorable, which may influence future stock performance [4] Industry Context - The Financial - Investment Management industry is currently ranked in the bottom 35% of over 250 Zacks industries, which may impact stock performance [5] - Another company in the same industry, BrightSphere Investment Group, is expected to report quarterly earnings of $0.42 per share, reflecting a year-over-year increase of 50% [5][6]

EXHIBIT 99.1 AssetMark Reports $119.4B Platform Assets for Second Quarter 2024 CONCORD, Calif., July 18, 2024, (GLOBE NEWSWIRE) — AssetMark Financial Holdings, Inc. (NYSE: AMK) today announced financial results for the quarter ended June 30, 2024. Second Quarter 2024 Financial and Operational Highlights • Net income for the quarter was $32.3 million, or $0.43 per share. • Adjusted net income for the quarter was $49.8 million, or $0.66 per share, on total revenue of $198.5 million. • Adjusted EBITDA for the ...

CONCORD, Calif., July 18, 2024 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE: AMK) today announced financial results for the quarter ended June 30, 2024. Second Quarter 2024 Financial and Operational Highlights Net income for the quarter was $32.3 million, or $0.43 per share.Adjusted net income for the quarter was $49.8 million, or $0.66 per share, on total revenue of $198.5 million.Adjusted EBITDA for the quarter was $71.9 million, or 36.2% of total revenue.Platform assets increased 18.5% ye ...

CONCORD, Calif., July 10, 2024 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report today. Company results for the month of June 2024 include: Platform assets of $119.4 billion at the end of June, up 18.5% year-over-year. Morningstar Wealth TAMP assets are not included in our total as the deal has been signed, but is not closed. Net flows were $397 million in the month of June, down 36.4% year-over-year.AssetMark Trust Company client cash was $ ...

CONCORD, Calif., July 10, 2024 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report today. Company results for the month of June 2024 include: Platform assets of $119.4 billion at the end of June, up 18.5% year-over-year. Morningstar Wealth TAMP assets are not included in our total as the deal has been signed, but is not closed. Net flows were $397 million in the month of June, down 36.4% year-over-year. AssetMark Trust Company client cash was ...

AssetMark Financial Holdings Inc.'s (AMK) wholly-owned subsidiary AssetMark Inc. entered into a strategic coalition with Morningstar Wealth, a division of Morningstar Inc. (MORN) . The transaction, approved by the board of directors of both companies, is expected to be closed in the second half of 2024, subject to regulatory approvals. AssetMark will acquire roughly $12 billion in assets from Morningstar Wealth Turnkey Asset Management Platform ("TAMP") as part of the alliance. AssetMark's platform, which o ...

CONCORD, Calif., June 20, 2024 (GLOBE NEWSWIRE) -- Wealth management platform AssetMark, Inc., a wholly owned subsidiary of AssetMark Financial Holdings, Inc. and a Registered Investment Adviser (collectively "AssetMark"), today announced a strategic alliance with Morningstar Wealth, a division of independent investing insights firm Morningstar, Inc. (Nasdaq: MORN). As part of the alliance, AssetMark will acquire approximately $12 billion in assets from the Morningstar Wealth Turnkey Asset Management Platfo ...

CONCORD, Calif., June 10, 2024 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report today. Company results for the month of May 2024 include: Platform assets of $117.7 billion at the end of May, up 22.1% year-over-year.Net flows were $611 million in the month of May, down 4.1% year-over-year.AssetMark Trust Company client cash was $2.84 billion, down 3.7% year-over-year.Number of households increased 5.7% year-over-year to 260,756 at the end of ...

CONCORD, Calif., June 10, 2024 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report today. Company results for the month of May 2024 include: Platform assets of $117.7 billion at the end of May, up 22.1% year-over-year. Net flows were $611 million in the month of May, down 4.1% year-over-year. AssetMark Trust Company client cash was $2.84 billion, down 3.7% year-over-year. Number of households increased 5.7% year-over-year to 260,756 at the end ...

Core Viewpoint - Kaskela Law LLC is investigating AssetMark Financial Holdings, Inc. regarding the acquisition by GTCR at a price of $35.25 per share, questioning if shareholders are receiving adequate consideration and if there were any breaches of fiduciary duties by the company's officers or directors [1]. Group 1 - AssetMark announced an agreement to be acquired by GTCR for $35.25 per share in cash on April 25, 2024 [1]. - Following the acquisition, AssetMark's shares will no longer be publicly traded, and shareholders will be cashed out of their investment positions [1]. - Prior to the acquisition announcement, at least one stock analyst had a price target of $41.00 per share for AssetMark, indicating potential undervaluation in the buyout offer [1]. Group 2 - Shareholders who believe the buyout price is insufficient are encouraged to contact Kaskela Law LLC for representation [2]. - Kaskela Law LLC specializes in securities fraud, corporate governance, and merger & acquisition litigation on a contingent basis [2].