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Business Combinations
6 Months Ended
Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]  
Business Combinations Business Combinations
Acquisition of Adhesion Wealth
On December 14, 2022, the Company acquired all of the issued and outstanding equity interests of Adhesion Financial Advisor Solutions (“Adhesion Wealth”). The estimated fair values of working capital balances, identifiable intangible assets and goodwill are provisional and are based on the information that was available as of the acquisition date. The estimated fair values of these provisional items are based on certain valuation and other studies that remain in progress and are not yet determinable. The Company believes the preliminary information provides a reasonable basis for estimating the fair values of these amounts, but is waiting for additional information necessary to finalize those fair values. Therefore, provisional measurements of fair values reflected are subject to change and such changes could be significant. The Company expects to finalize the valuation of tangible assets and liabilities and identifiable intangible assets and goodwill and complete the acquisition accounting as soon as practicable and no later than December 14, 2023.
On January 30, 2023, the Company completed an internal restructuring of Adhesion Wealth and Atria whereby Adhesion Wealth was merged out of existence and Atria became a direct subsidiary of AssetMark Financial Holdings, Inc., and will continue to do business as Adhesion Wealth.
In January 2023, the Company settled a purchase consideration liability in the amount of $3,000.