Assetmark 2023
Financial & Operating Highlights:
FINANCIAL HIGHLIGHTS
| For the year ended December 31, | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|
| ($ in millions, except per share amounts) | ||||
| Total Revenue | $ 708.5 | $ 611.7 | $ 530.3 | $ 432.1 |
| Net Revenue | $ 544.8 | $ 456.0 | $ 378.0 | $ 296.7 |
| Adj. EBITDA | $ 249.5 | $ 199.7 | $ 157.2 | $ 115.0 |
| Adj. EBITDA Margin | 35.2 % | 32.6 % | 29.6 % | 26.6 % |
| Adj. Net Income | $ 170.9 | $ 130.5 | $ 103.3 | $ 73.2 |
| Adj. Net Income Margin | 24.1 % | 21.1 % | 19.5 % | 16.9 % |
| Diluted Adjusted EPS | $ 2.30 | $ 1.77 | $ 1.40 | $ 1.02 |
OPERATIONAL HIGHLIGHTS
| For the year ended December 31, | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|
| ($ in millions) | ||||
| Platform assets (at period-beginning) | $ 91,470 | $ 93,488 | $ 74,520 | $ 61,608 |
| Net flows | $ 6,133 | $ 5,612 | $ 9,934 | $ 5,483 |
| Market impact net of fees | $ 11,326 | $ (14,526) | $ 9,034 | $ 5,369 |
| Acquisition impact | $ – | $ 6,896 | $ – | $ 2,060 |
| Platform assets (at period-end) | $ 108,929 | $ 91,470 | $ 93,488 | $ 74,520 |
| Net flows lift (% of beginning-of-year platform assets) | 6.7% | 6.0% | 13.3% | 8.9% |
| Advisors | 9,323 | 9,297 | 8,649 | 8,454 |
| Engaged advisors | 3,123 | 2,882 | 2,858 | 2,536 |
| Assets from engaged advisors | 101,335 | 83,803 | 86,385 | 67,300 |
| Households | 254,110 | 241,053 | 209,900 | 186,602 |
| New producing advisors | 666 | 690 | 811 | 743 |
| Production lift from existing advisors | 19.3% | 16.3% | 24.2% | 19.9% |
| Assets in custody at ATC | $ 80,325 | $ 66,169 | $ 71,320 | $ 53,878 |
| ATC client cash | $ 3,054 | $ 3,541 | $ 2,932 | $ 2,618 |
KEY FACTS & FIGURES
$108.9B+
PLATFORM ASSETS1
6.7%
NET FLOWS AS A PERCENT OF BEGINNING-OF-PERIOD PLATFORM ASSETS2
$170.9M
2023 ADJUSTED NET INCOME1
18%+
TOTAL REVENUE CAGR3
35.2%
2023 ADJUSTED
EBITDA MARGIN1
$249.5M
2023 ADJUSTED EBITDA1
HISTORICAL NET FLOWs
($ in billions)
Adjusted EBITDA
($ in millions)
Diluted Adjusted EPS
- 1 As of December 31, 2023
- 2 Calculated as annual net flows for the year ended December 31, 2023 divided by beginning-of-period platform assets as of January 1, 2023
- 3 From the year ended December 31, 2020 to the year ended December 31, 2023