August AMK Report

September 12, 2022

CONCORD, Calif., Sept. 12, 2022 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report today.

Company results for the month of August 2022 include:

  • Platform assets of $84.4 billion at the end of August, down 4.6% year-over-year.
  • Net flows were $605 million in the month of August, down 34.7% year-over-year.
  • AssetMark Trust Company client cash was $4.48 billion, up 82.9% year-over-year.
  • Number of households increased 10.6% year-over-year to 222,110 at the end of August.
                            Mo. Yr.  
  Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22      
PLATFORM METRICS                                
Platform Assets (in $B) 88.5 86.8 90.3 89.8 93.5 90.5 89.5 90.8 86.0 86.9 82.1 86.3 84.4 -2.2% -4.6%  
Net Flows (in $M) 927 968 892 994 1,062 650 694 791 376 605 383 374 605 61.8% -34.7%  
CASH METRIC                                
Ending ATC Client Cash (in $B) 2.45 2.61 2.43 2.62 2.93 2.85 2.86 3.09 2.92 3.60 3.70 3.60 4.48 24.4% 82.9%  
Number of Households 200,778 203,004 205,808 207,432 209,900 211,601 213,445 215,668 218,508 219,160 220,172 221,104 222,110 0.5% 10.6%  

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 June 30, 2022. 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 September 30, 2022 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.

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

Alaina Kleinman
Head of PR & Communications

SOURCE: AssetMark Financial Holdings, Inc.

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Source: AssetMark, Inc.