August AMK Report

Rhea-AI Summary

AssetMark Financial Holdings, Inc. (NYSE: AMK) reported significant growth in its August 2021 metrics. The platform's assets reached $88.5 billion, marking a 30.1% year-over-year increase. Net flows were recorded at $927 million, up 71.3% year-over-year. However, client cash at AssetMark Trust Company fell to $2.45 billion, down 6.8% from the previous year. The total number of households utilizing AssetMark's services also rose 10.3% year-over-year, totaling 200,778 households.

Positive

• Platform assets increased to $88.5 billion, up 30.1% year-over-year.
• Net flows for August 2021 were $927 million, representing a 71.3% year-over-year growth.
• The number of households served rose to 200,778, up 10.3% year-over-year.

Negative

• Client cash decreased to $2.45 billion, down 6.8% year-over-year.

CONCORD, Calif., Sept. 09, 2021 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report today.

Company highlights for the month of August 2021 include:

• Platform assets of $88.5 billion at the end of August, up 30.1% year-over-year.
• Net flows were $927 million in the month of August, up 71.3% year-over-year.
• AssetMark Trust Company client cash was $2.45 billion, down 6.8% year-over-year.
• Number of households increased 10.3% year-over-year to 200,778 at the end of August.

														Change
														Mo.		Yr.
	Aug-20	Sep-20	Oct-20	Nov-20	Dec-20	Jan-21	Feb-21	Mar-21	Apr-21	May-21	Jun-21	Jul-21	Aug-21
PLATFORM METRICS
Platform Assets (in $B)	68.0	67.3	66.5	71.8	74.5	74.6	76.2	78.9	81.7	83.0	84.6	86.1	88.5	2.8	%	30.1	%
Net Flows (in $M)	541	349	396	501	636	494	532	901	780	514	934	935	927	-0.9	%	71.3	%
CASH METRIC
Ending ATC Client Cash (in $B)	2.63	2.66	2.47	2.50	2.62	2.44	2.60	2.50	2.48	2.56	2.59	2.47	2.45	-0.8	%	-6.8	%
OTHER
Number of Households	181,977	182,683	183,774	184,935	186,602	188,057	188,679	190,915	193,325	193,833	196,474	198,619	200,778	1.1	%	10.3	%

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, 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 September 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.

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

FAQ

What were AssetMark's total platform assets in August 2021?

AssetMark's platform assets reached $88.5 billion in August 2021.

How much were the net flows for AssetMark in August 2021?

The net flows for AssetMark in August 2021 were $927 million.

What was the year-over-year increase in the number of households using AssetMark?

The number of households using AssetMark increased by 10.3% year-over-year, totaling 200,778.

Did AssetMark see a change in client cash in August 2021?

Yes, client cash at AssetMark Trust Company decreased to $2.45 billion, down 6.8% year-over-year.