February AMK Report

Rhea-AI Summary

AssetMark Financial Holdings, Inc. (NYSE: AMK) published its February 2023 performance data, reporting platform assets of $94.3 billion, reflecting a 5.4% year-over-year increase. However, net flows dropped by 22.2% to $540 million compared to the previous year. Additionally, client cash with AssetMark Trust Company rose to $3.32 billion, a 16.1% increase from last February. The number of households served climbed 13.8% to 242,826.

AssetMark cautions that this preliminary monthly data is subject to revision and should not be seen as a definitive measure of future performance.

Positive

• Platform assets increased to $94.3 billion, up 5.4% year-over-year.
• Client cash rose to $3.32 billion, marking a 16.1% year-over-year increase.
• Number of households increased by 13.8%, reaching 242,826.

Negative

• Net flows decreased by 22.2% to $540 million year-over-year.

CONCORD, Calif., March 13, 2023 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report today.

Company results for the month of February 2023 include:

• Platform assets of $94.3 billion at the end of February, up 5.4% year-over-year.
• Net flows were $540 million in the month of February, down 22.2% year-over-year.
• AssetMark Trust Company client cash was $3.32 billion, up 16.1% year-over-year.
• Number of households increased 13.8% year-over-year to 242,826 at the end of February.

														Change
														Mo.	Yr.
	Feb-22	Mar-22	Apr-22	May-22	Jun-22	Jul-22	Aug-22	Sep-22	Oct-22	Nov-22	Dec-22	Jan-23	Feb-23
PLATFORM METRICS
Platform Assets (in $B)	89.5	90.8	86.0	86.9	82.1	86.3	84.4	79.4	82.8	87.1	91.5	95.8	94.3	-1.6%	5.4%
Net Flows (in $M)	694	791	376	605	383	374	605	228	283	280	345	347	540	55.6%	-22.2%
CASH METRIC
Ending ATC Client Cash (in $B)	2.86	3.09	2.92	3.60	3.70	3.60	4.48	3.51	3.49	3.27	3.54	3.32	3.32	0.0%	16.1%
OTHER
Number of Households	213,445	215,668	218,508	219,160	220,172	221,104	222,110	223,098	225,103	224,983	241,053	242,572	242,826	0.1%	13.8%

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 Quarterly Report on Form 10-Q for the quarter ended September 30, 2022 and Form 10-K for the year ended December 31, 2022, which we expect to file on March 14^th. 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, 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 is 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 1,000 employees. Today, the AssetMark platform serves 9,200 financial advisors and roughly 241,000 investor households. As of December 31, 2022, the firm had $91.5 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.

FAQ

What are AssetMark's platform assets for February 2023?

As of February 2023, AssetMark's platform assets were $94.3 billion, showing a 5.4% year-over-year increase.

How much did AssetMark's net flows decrease in February 2023?

In February 2023, AssetMark's net flows decreased by 22.2% to $540 million compared to the previous year.

What was the amount of client cash for AssetMark Trust Company in February 2023?

AssetMark Trust Company reported client cash of $3.32 billion in February 2023, which is a 16.1% increase year-over-year.

How many households does AssetMark serve as of February 2023?

As of February 2023, AssetMark serves 242,826 households, marking a 13.8% increase from the previous year.