AssetMark(US:AMK)2020-11-11 03:09Financial Performance - 3Q20 net flows increased by 33% quarter-over-quarter to $1.2 billion[11] - The company's net flows as a percentage of beginning-of-period platform assets was 8.6%[29] - Total revenue decreased by 2.7% year-over-year, from $110.1 million in 3Q19 to $107.1 million in 3Q20[34] - Adjusted EBITDA increased slightly by 0.3% year-over-year, from $29.2 million in 3Q19 to $29.3 million in 3Q20[43] - Adjusted EBITDA margin increased by 80 bps year-over-year, from 26.6% in 3Q19 to 27.4% in 3Q20[43] - Adjusted net income increased by 6.1% year-over-year, from $17.1 million in 3Q19 to $18.2 million in 3Q20[43] Growth and Strategy - The company is focused on enhancing advisor value and productivity, attracting adjacent advisors, and continuing to scale the business[9] - The company's target organic growth is 10%+ annualized if COVID mitigates, or 8-10% annualized organic growth[26] - Existing advisors contribute approximately 66% of net flows, while new platform advisors (NPAs) contribute approximately 33%[26] Advisor Engagement and Platform Enhancements - Over 450 webinars were hosted with 20,000+ total attendees[12] - October Premier Advisor meetings had over 900 attendees, a 20%+ increase compared to previous meetings[12]