With earnings season in full swing, the recap of AssetMark's third quarter performance was notable not for its tally of dollars and cents.
But because for the first time in nearly a decade, Natalie Wolfsen wasn't the CEO leading the earnings call.
Instead, those duties were handed off to Michael Kim this week. The longtime AssetMark exec has taken the reins of the California TAMP now that Wolfsen is in full command of Orion Advisor Solutions as the replacement of outgoing founder Erick Clarke.
And Kim, riding the wave of another record-setting quarter, came out swinging by setting some big goals for the company.
Not only does he expect 2023 to go down as the best year in AssetMark history — he also intends to double the size of the company and hit a milestone of 5,000 engaged advisors within the next three years.
"We are committed to getting to 5,000 engaged advisors by end of 2026," Kim said Monday. "As you know, engaged advisors make up north of 90% of our platform assets. These advisors grow faster, have stickier assets and enjoy more of the benefits of outsourcing. If we grow to 5,000 engaged advisors, we'd double the size of the company."
Also new this week, a look at the bumpy road from TD Ameritrade to Schwab; the new online learning resource from The American College of Financial Services; and a recap of how AI is reshaping wealth management.
Check out all those stories and more, only at Financial Planning.
Anything else on your mind? Drop me a line at justin.mack@arizent.com. Have a great weekend, everyone!
Regards,
Justin |  | Justin Mack
Reporter, Financial Planning
  |
| | |
|
|
| By Justin L. Mack | As he takes command of the California TAMP, incoming AssetMark CEO Michael Kim says he wants to hit 5,000 engaged advisors by 2026. Read story → |
|
|
| |
| |
| | | By Tobias Salinger 9 min read | In the largest-ever conversion, issues are bound to come up. With some dust settled, what's the outlook for the giant custodian's dominance? Read story → |
|
|
| | | By Courtney Hoff | Leveraging OpenAI technology to communicate quickly and effectively with clients and utilizing an AI-powered assistant to enhance estate planning are two ways wealth managers are incorporating AI into their daily lives. Read story → |
|
|
| | | By Justin L. Mack | The firm founders join the FP Podcast all the way from Taiwan to discuss financial planning for women and LGBTQ+ households, international filmmaking and how the profession changed both of their lives. Read story → |
|
|
| |
| Learn how new strategies and innovative tools can meet the needs of NextGen investors. Learn more → |
|
|
| | | By Staff report 2 min read | Called Knowledge Hub+, the new learning platform curates insights from more than 30 academics, industry innovators, financial planning experts and practice management leaders. Read story → |
|
|
| |
| |
| | RESOURCES | | | WEB SEMINAR | | Thursday, November 16, 2023 2:00 PM EST | How can you build authentic connections and trust in an emerging chatbot, AI – driven world? If your value as a financial advisor still centers on portfolio management, your business model is at risk. It's like selling maps in the age of GPS. And in the case of investment management, AI could replace you. Learn More → | SPONSOR CONTENT FROM TRADEPMR | | | REPORT | | | Download our new research report to learn how private markets attract ESG capital from pension plans as long as asset managers deliver on their clients' ESG goals. Learn More → | SPONSOR CONTENT FROM Apex | | | REPORT | | | Explain the role of intelligent automation (IA) in transforming wealth and asset management Learn More → | SPONSOR CONTENT FROM SS&C Technologies | | | REPORT | | | The Outlook provides analysis on today's economic factors and how they impact the market. Learn More → | SPONSOR CONTENT FROM ARS Investment Partners | More resources → |
|
|
