May AMK Report

June 10, 2021

  CONCORD, Calif., June 10, 2021 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report today.

Company highlights for the month of May 2021 include:

  • Platform assets of $83.0 billion at the end of May, up 33.9% year-over-year.
  • Net flows were $514 million in the month of May, up 275.2% year-over-year.
    • This reflects $424 million of outflows from two GFPC advisors.
      • This represents nearly all the platform assets for these advisors who are leaving the platform.
      • These outflows were previously disclosed on AssetMark’s 1Q21 earnings call.
    • Net flows, excluding these two GFPC advisors, were $938 million in May.
  • AssetMark Trust Company client cash was $2.56 billion, down 9.9% year-over-year.
  • Number of households increased 8.7% year-over-year to 193,833 at the end of May.
                              Mo. Yr.  
  May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21        
PLATFORM METRICS                                  
Platform Assets (in $B) 62.0 63.2 65.6 68.0 67.3 66.5 71.8 74.5 74.6 76.2 78.9 81.7 83.0   1.6 % 33.9 %  
Net Flows (in $M) 137 357 319 541 349 396 501 636 494 532 901 780 514   -34.1 % 275.7 %  
CASH METRIC                                  
Ending ATC Client Cash (in $B) 2.84 2.96 2.60 2.63 2.66 2.47 2.50 2.62 2.44 2.60 2.50 2.48 2.56   3.2 % -9.9 %  
Number of Households 178,284 179,166 181,115 181,977 182,683 183,774 184,935 186,602 188,057 188,679 190,915 193,325 193,833   0.3 % 8.7 %  

This monthly data is being provided on a supplemental basis and should not be taken as a substitute for the Company’s financial statements filed with the Securities and Exchange Commission as part of the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2021. This monthly data is preliminary and subject to revision and should not be taken as an indication of the financial performance of AssetMark for the quarter ending June 30, 2021 or any future period. AssetMark undertakes no obligation to publicly update or review previously reported monthly data. Any updates to previously reported monthly data will be reflected in the historical data that can be found on the Investor Relations page of the Company’s corporate website at AssetMark reserves the right to discontinue the availability of the data in this monthly report. By filing this press release, AssetMark makes no admission as to the materiality of any information contained herein.

Forward-Looking Statements

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release are forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings we make with the Securities and Exchange Commission. AssetMark undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

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 adviser subsidiary registered with the U.S. 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.

Taylor J. Hamilton, CFA
Head of Investor Relations

Oliver Hays
MSR Communications for AssetMark, Inc.

SOURCE: AssetMark Financial Holdings, Inc.

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Source: AssetMark, Inc.