Natalie Wolfsen has officially stepped down as the CEO of AssetMark Financial Holdings, a leading wealth management and technology solutions company. After successfully leading the company for the past two years, Wolfsen will cease to serve as chief executive as of September 8. However, she will remain an employee of AssetMark until October 4, according to an SEC filing released by the company on Friday.
AssetMark announced that Wolfsen is leaving the company to pursue another opportunity, although the details of this opportunity were not disclosed. During her tenure, Wolfsen played a pivotal role in expanding AssetMark's range of services for advisors and overseeing strategic acquisitions that enhanced the company's offering and platform.
Under Wolfsen's leadership, AssetMark achieved impressive results in the second quarter, with platform assets reaching an all-time high of $100.8 billion, representing a significant 22.7% year-over-year increase. These accomplishments reflect the effectiveness of Wolfsen's strategies and her commitment to driving growth.
To fill the void left by Wolfsen's departure, AssetMark's board of directors selected Michael Kim as her successor. Kim, an internal candidate, is currently serving as the president of AssetMark since March 2021 and has held the position of chief client officer since January 2018. Prior to that, he served as executive vice president and national sales manager from 2014 to 2018.
In a statement, Kim expressed his enthusiasm about taking on the role of CEO and leading AssetMark through its next phase of growth. He acknowledged AssetMark's industry leadership, talented team, innovative platform, and strong financial foundation. Kim looks forward to leveraging these assets and working collaboratively with the team to execute the company's proven strategy.
Xiaoning Jiao, Chairperson of the AssetMark Board of Directors, highlighted Kim's extensive experience and expertise as driving factors behind his appointment. Jiao expressed confidence in Kim's ability to consistently deliver strong results and his deep understanding of both AssetMark and the needs of its clients. Kim's advisor-focused approach will undoubtedly contribute to the company's ongoing growth and evolution.
As AssetMark prepares for this transition, the company remains dedicated to its mission of providing exceptional wealth management and technology solutions to its clients. With a new leader at the helm, AssetMark looks forward to building upon its previous successes and further solidifying its position as an industry leader.
