August AMK Report

Rhea-AI Summary

AssetMark Financial Holdings, Inc. released its 'AssetMark Monthly Knowledge' Report. Platform assets reached $102.2 billion, up 21.1% YoY. Net flows were $555 million, down 8.3% YoY. Number of households increased 12.7% YoY to 250,307.

Positive

• Platform assets increased by 21.1% YoY
• Number of households increased by 12.7% YoY

Negative

• Net flows decreased by 8.3% YoY

CONCORD, Calif., Sept. 11, 2023 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report today.

Company results for the month of August 2023 include:

• Platform assets of $102.2 billion at the end of August, up 21.1% year-over-year.
• Net flows were $555 million in the month of August, down 8.3% year-over-year.
• AssetMark Trust Company client cash was $2.83 billion, down 36.8% year-over-year.
• Number of households increased 12.7% year-over-year to 250,307 at the end of August.

														Change
														Mo.		Yr.
	Aug-22	Sep-22	Oct-22	Nov-22	Dec-22	Jan-23	Feb-23	Mar-23	Apr-23	May-23	Jun-23	Jul-23	Aug-23
PLATFORM METRICS
Platform Assets (in $B)	84.4	79.4	82.8	87.1	91.5	95.8	94.3	96.2	96.9	96.4	100.8	103.2	102.2	-1.0	%	21.1	%
Net Flows (in $M)	605	228	283	280	345	347	540	744	433	637	624	540	555	2.8	%	-8.3	%
CASH METRIC
Ending ATC Client Cash (in $B)	4.48	3.51	3.49	3.27	3.54	3.32	3.32	3.19	2.87	2.95	2.94	2.79	2.83	1.4	%	-36.8	%
OTHER
Number of Households	222,110	223,098	225,103	224,983	241,053	242,572	242,826	243,775	246,570	246,654	247,934	248,780	250,307	0.6	%	12.7	%

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 June 30, 2023. 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, 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 operates 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 over 1,000 employees. As of June 30, 2023, the company had $100.8 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.