April AMK Report

Rhea-AI Summary

AssetMark Financial Holdings, Inc. reported significant growth in its April 2021 metrics. The company's platform assets reached $81.7 billion, marking a 36.6% increase year-over-year. Net flows surged to $780 million, up 88.4% from the previous year. However, client cash at AssetMark Trust Company decreased to $2.48 billion, down 18.4% year-over-year. The number of households served rose 8.6% to 193,325.

Positive

• Platform assets increased to $81.7 billion, up 36.6% year-over-year.
• Net flows of $780 million in April, up 88.4% year-over-year.
• Number of households served rose 8.6% to 193,325.

Negative

• Client cash decreased to $2.48 billion, down 18.4% year-over-year.

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

Company highlights for the month of April 2021 include:

• Platform assets of $81.7 billion at the end of April, up 36.6% year-over-year.
• Net flows were $780 million in the month of April, up 88.4% year-over-year.
• AssetMark Trust Company client cash was $2.48 billion, down 18.4% year-over-year.
• Number of households increased 8.6% year-over-year to 193,325 at the end of April.

															Change
															Mo.		Yr.
	Apr-20	May-20	Jun-20	Jul-20	Aug-20	Sep-20	Oct-20	Nov-20	Dec-20	Jan-21	Feb-21	Mar-21	Apr-21
PLATFORM METRICS
Platform Assets (in $B)	59.8	62.0	63.2	65.6	68.0	67.3	66.5	71.8	74.5	74.6	76.2	78.9	81.7		3.5	%	36.6	%
Net Flows (in $M)	414	137	357	319	541	349	396	501	636	494	532	901	780		-13.4	%	88.4	%
CASH METRIC
Ending ATC Client Cash (in $B)	3.04	2.84	2.96	2.60	2.63	2.66	2.47	2.50	2.62	2.44	2.60	2.50	2.48		-0.8	%	-18.4	%
OTHER
Number of Households	177,975	178,284	179,166	181,115	181,977	182,683	183,774	184,935	186,602	188,057	188,679	190,915	193,325		1.3	%	8.6	%

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 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 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.

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.

SOURCE: AssetMark Financial Holdings, Inc.

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

Media: 
Oliver Hays
MSR Communications for AssetMark, Inc.
oliver@msrcommunications.com

FAQ

What were AssetMark's platform assets in April 2021?

AssetMark's platform assets reached $81.7 billion at the end of April 2021.

How much did Net flows increase in April 2021 for AssetMark?

Net flows for AssetMark rose to $780 million in April 2021, an increase of 88.4% year-over-year.

What was the decline in client cash at AssetMark Trust Company in April 2021?

Client cash at AssetMark Trust Company decreased to $2.48 billion, down 18.4% year-over-year.

How many households did AssetMark serve in April 2021?

AssetMark served 193,325 households at the end of April 2021, an increase of 8.6% year-over-year.