February AMK Report

March 13, 2023

CONCORD, Calif., March 13, 2023 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report today.

Company results for the month of February 2023 include:

  • Platform assets of $94.3 billion at the end of February, up 5.4% year-over-year.
  • Net flows were $540 million in the month of February, down 22.2% year-over-year.
  • AssetMark Trust Company client cash was $3.32 billion, up 16.1% year-over-year.
  • Number of households increased 13.8% year-over-year to 242,826 at the end of February.
                                 
                            Change  
                            Mo. Yr.  
  Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23      
PLATFORM METRICS                                
Platform Assets (in $B) 89.5 90.8 86.0 86.9 82.1 86.3 84.4 79.4 82.8 87.1 91.5 95.8 94.3 -1.6 % 5.4 %  
Net Flows (in $M) 694 791 376 605 383 374 605 228 283 280 345 347 540 55.6 % -22.2 %  
CASH METRIC                                
Ending ATC Client Cash (in $B) 2.86 3.09 2.92 3.60 3.70 3.60 4.48 3.51 3.49 3.27 3.54 3.32 3.32 0.0 % 16.1 %  
OTHER                                
Number of Households 213,445 215,668 218,508 219,160 220,172 221,104 222,110 223,098 225,103 224,983 241,053 242,572 242,826 0.1 % 13.8 %  
                                 
                                 

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 September 30, 2022 and Form 10-K for the year ended December 31, 2022, which we expect to file on March 14th. 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 March 31, 2023, 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 ir.assetmark.com. 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 wealth management platform that powers independent financial advisors and their clients. Together with our affiliates Voyant and Adhesion Wealth, we serve advisors of all models at every stage of their journey with flexible, purpose-built solutions that champion client engagement and drive efficiency. Our ecosystem of solutions equips advisors with services and capabilities that would otherwise require significant investments of time and money, ultimately enabling them to deliver better investor outcomes and enhance their productivity, profitability and client satisfaction.

Founded in 1996 and based in Concord, California, the company has 1,000 employees. Today, the AssetMark platform serves 9,200 financial advisors and roughly 241,000 investor households. As of December 31, 2022, the firm had $91.5 billion in platform assets.

Contacts
Investors:
Taylor J. Hamilton, CFA
Head of Investor Relations
InvestorRelations@assetmark.com

Media: 
Alaina Kleinman
Head of PR & Communications
alaina.kleinman@assetmark.com

SOURCE: AssetMark Financial Holdings, Inc.



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Source: AssetMark, Inc.