AssetMark Financial Holdings, Inc. (NYSE: AMK) today announced that
its Board of Directors has named Natalie Wolfsen as the company’s
new Chief Executive Officer and Michael Kim as its new President.
Both appointments are effective as of March 3, 2021. Ms. Wolfsen
and Mr. Kim are succeeding Charles Goldman, who will be leaving his
role as President and Chief Executive Officer and as a member of
the Board of Directors. Mr. Goldman will assist in the transition
by serving as a consultant to the company for one year. Ms. Wolfsen
will also join the AssetMark Board of Directors.
Ms. Wolfsen, who most recently served as AssetMark’s Executive
Vice President and Chief Solutions Officer, brings to her new
position more than 25 years of experience in investment product
management, investments, digital product development and marketing,
as well as a proven track record of successfully achieving business
results for AssetMark. She is an experienced strategist,
consistently and successfully identifying and meeting the evolving
needs of financial advisors and their clients through the
development of new technology and services.
“Natalie is a proven, high-performing leader who the Board of
Directors unanimously believes is the right executive to lead
AssetMark moving forward,” said Xiaoning Jiao, Chairperson of the
AssetMark Board of Directors. “She brings to her new role a deep
knowledge of AssetMark, a track record of successfully developing
and leading teams and a forward-looking approach that promotes
holistic advisor-client conversations, innovative technology and
greater diversity and inclusion in the wealth management industry.
We look forward to her continued contributions to AssetMark’s
growth.”
“I am thrilled to lead AssetMark forward as Chief Executive
Officer and build on its strong momentum and proven track record of
helping advisors succeed,” said Ms. Wolfsen. “We remain committed
to our mission of making a difference in the lives of advisors and
investors and intend to build on our stated strategy of supporting
independent financial advisors, broker-dealer relationships and
RIAs on our platform by delivering new, tailored solutions,
technology and services to help them achieve their clients’
financial goals.”
“The Board and I thank Charles for his significant contributions
to AssetMark over the last eight years,” said Ms. Jiao. “Under his
leadership, AssetMark made a successful transition to a publicly
traded company, which strengthened the company’s financial profile
and enabled it to make significant investments to better serve
financial advisors. We wish him every success in his future
endeavors.”
In her most recent role as AssetMark’s Executive Vice President
and Chief Solutions Officer, Ms. Wolfsen led the company's Strategy
and Solutions Group, driving the development of solutions and
services for financial advisors. Additionally, she oversaw
investment teams, managing due diligence and driving the ongoing
evaluation of new outsourcing solutions. Ms. Wolfsen earned a 2020
Silver Stevie Award for Women in Business, the premier honor for
female executives. She also serves on the board of directors of the
CFP Board Center for Financial Planning, an organization that works
to provide the public with access to competent and ethical personal
financial planning. Ms. Wolfsen’s unmatched expertise, initiative
and drive embody AssetMark’s mission-driven, client-focused
culture, which she will continue to shape as Chief Executive
Officer.
Mr. Kim most recently served as Executive Vice President and
Chief Client Officer at AssetMark. In this role, he was responsible
for AssetMark's Client Development Group, overseeing all sales and
marketing teams, sales strategy and operations and strategic
accounts. Mr. Kim and his team will continue to focus on strategies
to help advisors grow and serve their clients, as well as expanding
AssetMark’s engagements with existing and prospective advisors.
Mr. Kim brings to this role more than 25 years of experience
working with financial advisors in various capacities, including 10
years at AssetMark. Prior to joining AssetMark, Mr. Kim was an
executive at Fidelity Investments, overseeing RIA Sales Management,
Relationship Management and Practice Management. Mr. Kim started
his professional career at Coopers & Lybrand, LLC.
“I am very pleased that the entire AssetMark organization and I
will continue to benefit from Michael’s leadership, strategic
thinking and diligence,” said Ms. Wolfsen.
About AssetMark Financial Holdings, Inc.
AssetMark is a leading provider of extensive wealth management
and technology solutions that power independent financial advisors
and their clients. Through AssetMark, Inc., its investment advisor
subsidiary registered with the Securities and Exchange Commission,
AssetMark operates a platform that comprises fully integrated
technology, personalized and scalable service and curated
investment platform solutions designed to make a difference in the
lives of advisors and their clients. AssetMark had $74.5 billion in
platform assets as of December 31, 2020 and has a history of
innovation spanning more than 20 years.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements regarding our future financial and
operating performance, which involve risks and uncertainties.
Actual results may differ materially from the results predicted,
and reported results should not be considered as an indication of
future performance. Forward-looking statements include all
statements that are not historical facts and can be identified by
terms such as “may,” “might,” “will,” “should,” “expects,” “plans,”
“anticipates,” “intends,” “believes,” “estimates,” “predicts,”
“potential” or “continue,” the negative of these terms and other
comparable terminology that conveys uncertainty of future events or
outcomes. These forward-looking statements involve known and
unknown risks, uncertainties, assumptions and other factors that
may cause actual results to differ materially from statements made
in this press release, including in relation to our ability to
attract and retain advisors, competition in the industry in which
we operate, the interest rate environment, shifting investor
preferences, our market share and the size of our addressable
market, our financial performance, investments in new products,
services and capabilities, our ability to execute strategic
transactions, legal and regulatory developments and general market,
political, economic and business conditions. Other potential risks
and uncertainties that could cause actual results to differ from
the results predicted include, among others, those risks and
uncertainties included under the captions “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and
Results of Operations” in our prospectus dated July 17, 2019 filed
with the Securities and Exchange Commission pursuant to Rule 424(b)
under the Securities Act of 1933, as amended, and in our most
recent Quarterly Report on Form 10-Q for the quarter ended
September 30, 2020, each of which is on file with the Securities
and Exchange Commission and available on our investor relations
website at http://ir.assetmark.com. Additional information will
also be set forth in our Annual Report on Form 10-K for the year
ended December 31, 2020, which is expected to be filed in
mid-March. All information provided in this release is based on
information available to us as of the date of this press release
and any forward-looking statements contained herein are based on
assumptions that we believe are reasonable as of this date. Undue
reliance should not be placed on the forward-looking statements in
this press release, which are inherently uncertain. We undertake no
duty to update this information unless required by law.
Contacts
Investors:Taylor J. Hamilton, CFAHead of Investor
RelationsInvestorRelations@assetmark.com
Media: Jen RocheHead of Marketing and
Communicationsjen.roche@assetmark.com
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