February AMK Report

Rhea-AI Summary

AssetMark Financial Holdings, Inc. (NYSE: AMK) reported key metrics for February 2021. Platform assets reached $76.2 billion, indicating a 23.5% year-over-year growth. However, net flows were $532 million, down 24.3% year-over-year. Notably, client cash at AssetMark Trust Company rose to $2.60 billion, up 43.6% year-over-year. Additionally, the number of households increased to 188,679, up 7.8% from the previous year. The report emphasizes that these figures are preliminary and should not be taken as indicators of future performance.

Positive

• Platform assets grew to $76.2 billion, a 23.5% year-over-year increase.
• Client cash at AssetMark Trust Company increased to $2.60 billion, up 43.6% year-over-year.
• Number of households increased by 7.8% year-over-year to 188,679.

Negative

• Net flows decreased to $532 million, down 24.3% year-over-year.

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

Company highlights for the month of February 2021 include:

• Platform assets of $76.2 billion at the end of February, up 23.5% year-over-year.
• Net flows were $532 million in the month of February, down 24.3% year-over-year.
• AssetMark Trust Company client cash was $2.60 billion, up 43.6% year-over-year.
• Number of households increased 7.8% year-over-year to 188,679 at the end of February.

															Change
															Mo.		Yr.
	Feb-20	Mar-20	Apr-20	May-20	Jun-20	Jul-20	Aug-20	Sep-20	Oct-20	Nov-20	Dec-20	Jan-21	Feb-21
PLATFORM METRICS
Platform Assets (in $B)	61.7	56.0	59.8	62.0	63.2	65.6	68.0	67.3	66.5	71.8	74.5	74.6	76.2		2.1	%	23.5	%
Net Flows (in $M)	703	659	414	137	357	319	541	349	396	501	636	494	532		7.7	%	-24.3	%
CASH METRIC
Ending ATC Client Cash (in $B)	1.81	2.99	3.04	2.84	2.96	2.60	2.63	2.66	2.47	2.50	2.62	2.44	2.60		6.6	%	43.6	%
OTHER
Number of Households	175,026	176,681	177,975	178,284	179,166	181,115	181,977	182,683	183,774	184,935	186,602	188,057	188,679		0.3	%	7.8	%

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 Annual Report on Form 10-K for the year ended December 31, 2020. 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, 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: 
Chris Blake
MSR Communications
chris@msrcommunications.com

FAQ

What are the platform assets of AssetMark Financial Holdings (AMK) as of February 2021?

As of February 2021, AssetMark's platform assets are $76.2 billion, reflecting a 23.5% increase year-over-year.

How much were the net flows for AssetMark Financial (AMK) in February 2021?

Net flows for AssetMark Financial in February 2021 were $532 million, which is a decline of 24.3% compared to the previous year.

What was the increase in client cash at AssetMark Trust Company for February 2021?

Client cash at AssetMark Trust Company grew to $2.60 billion, marking a 43.6% increase year-over-year.

How many households are served by AssetMark Financial Holdings (AMK) as of February 2021?

As of February 2021, AssetMark Financial serves 188,679 households, which is an increase of 7.8% year-over-year.