Assetmark, Inc. (Concord)

Assetmark provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Assetmark: assets under management

The assets under management (AUM) of Assetmark, Inc. is $29.54 billion. The firm's AUM has grown by 118% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $28.62 billion in discretionary accounts and $920.15 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $160.75 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $27.88 million.

Assetmark has custody of $22.92 billion in cash and securities for 151,431 clients in total and its related person acts as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 95% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 4% of the firm’s portfolio. Investments in government bonds form 1% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Assetmark, Inc. for their services and products based on a percentage of assets under management and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Assetmark serves?

The firm provides services to individuals, investment companies, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Assetmark is individuals with 170,646 clients and $21.65 billion of assets under management. Among the 8 most similar advisory firms, Assetmark has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $28.69 billion for 178,087 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Assetmark doesn't advise any private funds.

Careers at Assetmark, Inc.

The company employs 476 people that are either part- or full-time employees. 41 percent of the employees work as investment advisers or researchers. 123 employees are registered as investment adviser representatives with the state securities authorities.

There are 652 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Jeremiah Harrison Chafkin has served as the Chief Investment Officer since 1 Aug 2014. Mukesh Kantilal Mehta joined the executive team most recently as the Chief Information Officer.

Direct owners and executive officers

Indirect Owners

The SEC currently registers 8 indirect owners.

Based in Concord

The principal office where Assetmark, Inc. performs its advisory services is located at 1655 Grant Street, Concord, CA 94520 2445, which is also the mailing address of the firm. An additional office of the firm is in Phoenix, AZ. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 800-664-5345 or by fax 866-559-5795. The normal business hours are 9:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at ewealthmanager.com.

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