Charles Goldman, CEO of AssetMark, breaks down why now was the time for AssetMark (AMK) IPO'd and how the financial advisers can attract gun-shy millennials.
AssetMark officially started trading on the New York Stock Exchange Thursday, July 18.
The company priced at $22, which was above the range of $19 to $21 that was expected.
The company opened for trading at $25.45.
So, how should financial advisers bring millennials back into the market?
"You've hit on an issue that's close to my heart. I have a couple of millennial kids, and I think about millennials all the time and it's very concerning to our industry that millennials are not investing in the stock market. The only way for all of you to retire is if you invest and grow that investment over time. That's the way to have a good retirement. And so what we're trying to do at AssetMark is a couple of things. One helps our advisors bring young people into their businesses and help them market to young people. And we're also building technology that's much more modern so that the interface and the experience feels good to you and your generation," explained Goldman.