April AMK Report

Rhea-AI Summary

AssetMark Financial Holdings (AMK) reported its monthly metrics for April 2022, indicating a mixed performance. As of April, platform assets rose to $86.0 billion, a 5.3% increase year-over-year. However, net flows dropped significantly to $376 million, reflecting a 51.8% decline compared to the previous year. Additionally, client cash increased to $2.92 billion, up 17.7% year-over-year, while the number of households served grew by 13.0% to 218,508.

Positive

• Platform assets reached $86.0 billion, a 5.3% increase year-over-year.
• Client cash increased to $2.92 billion, up 17.7% year-over-year.
• Number of households grew by 13.0% year-over-year to 218,508.

Negative

• Net flows dropped to $376 million, a significant 51.8% decrease year-over-year.

CONCORD, Calif., May 10, 2022 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report today.

Company highlights for the month of April 2022 include:

• Platform assets of $86.0 billion at the end of April, up 5.3% year-over-year.
• Net flows were $376 million in the month of April, down 51.8% year-over-year.
• AssetMark Trust Company client cash was $2.92 billion, up 17.7% year-over-year.
• Number of households increased 13.0% year-over-year to 218,508 at the end of April.

														Change
														Mo.		Yr.
	Apr-21	May-21	Jun-21	Jul-21	Aug-21	Sep-21	Oct-21	Nov-21	Dec-21	Jan-22	Feb-22	Mar-22	Apr-22
PLATFORM METRICS
Platform Assets (in $B)	81.7	83.0	84.6	86.1	88.5	86.8	90.3	89.8	93.5	90.5	89.5	90.8	86.0	-5.3	%	5.3	%
Net Flows (in $M)	780	514	934	935	927	968	892	994	1,062	650	694	791	376	-52.5	%	-51.8	%
CASH METRIC
Ending ATC Client Cash (in $B)	2.48	2.56	2.59	2.47	2.45	2.61	2.43	2.62	2.93	2.85	2.86	3.09	2.92	-5.5	%	17.7	%
OTHER
Number of Households	193,325	193,833	196,474	198,619	200,778	203,004	205,808	207,432	209,900	211,601	213,445	215,668	218,508	1.3	%	13.0	%

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, 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 June 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 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 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.

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.

FAQ

What are the latest platform assets reported by AssetMark (AMK)?

AssetMark reported platform assets of $86.0 billion as of April 2022.

How much did net flows decrease for AssetMark (AMK) in April 2022?

Net flows decreased by 51.8% year-over-year to $376 million in April 2022.

What was the increase in client cash for AssetMark (AMK) in April 2022?

Client cash increased to $2.92 billion, representing a 17.7% year-over-year increase.

How many households does AssetMark (AMK) serve as of April 2022?

AssetMark serves 218,508 households, a 13.0% increase year-over-year.