Stocks pushed higher this morning after fresh economic data pointed to cooling inflation. The producer price index (PPI) for March was 0.5% lower month over month versus expectations for prices to be flat. While investors search for promising opportunities in the financial sector, one company seems to stand out among the rest. This leading asset manager has been growing rapidly, making moves to become a full-service wealth management platform.
The stock has already seen a remarkable 31% increase this year, and with an expected 32% annual EPS growth during the next five years, this growth stock could be a valuable addition to any portfolio. Keep reading to discover the identity of this company and why it might be a smart investment choice.
US Dollar Replaced By “Biden Bucks”?
A former advisor to the CIA and Pentagon now believes President Biden plans to retire the US dollar we know.
And replace it with what he calls “Biden Bucks”. It is underway.
On March 9, Biden signed Executive Order 14067, which could pave the way for Biden Bucks.
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AssetMark Financial (AMK)
Leading asset manager AssetMark Financial continues to grow as it looks to become a full-service wealth management platform. Its recent acquisition of Adhesion Wealth, which provides wealth management technology solutions to investment advisors and asset managers, will expand its offerings. The company has been growing rapidly and has forecast annual EPS growth of 32% during the next five years. It has also seen its valuation come down to a P/E of 22, which is a great value for this growth stock.
The stock is up 31% already this year. Even if the market does retreat, AssetMark still expects roughly 10% growth in assets on its platform in 2023 and 20% year-over-year revenue growth. And as we emerge from this volatile market toward the next bull market, the company, a leader in the market, should see continued growth since asset managers thrive in bull markets.
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