January AMK Report

Rhea-AI Summary

AssetMark Financial Holdings, Inc. (NYSE: AMK) reported strong results in its January 2021 metrics. Platform assets reached $74.6 billion, marking a 20.7% year-over-year increase. Net flows totaled $494 million, up 4.7% year-over-year, while client cash at AssetMark Trust Company surged 39.4% to $2.44 billion. Additionally, the number of households served increased 14.9% to 188,057. These figures highlight the company's robust growth despite potential market challenges.

Positive

• Platform assets increased to $74.6 billion, a 20.7% year-over-year growth.
• Net flows of $494 million in January, reflecting a 4.7% year-over-year rise.
• Client cash at AssetMark Trust Company grew to $2.44 billion, up 39.4% from the previous year.
• Households served rose to 188,057, a 14.9% increase year-over-year.

Negative

• Net flows decreased by 22.3% compared to the previous month.

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

Company highlights for the month of January 2021 include:

• Platform assets of $74.6 billion at the end of January, up 20.7% year-over-year.
• Net flows were $494 million in the month of January, up 4.7% year-over-year.
• AssetMark Trust Company client cash was $2.44 billion, up 39.4% year-over-year.
• Number of households increased 14.9% year-over-year to 188,057 at the end of January.

															Change
															Mo.		Yr.
	Jan-20	Feb-20	Mar-20	Apr-20	May-20	Jun-20	Jul-20	Aug-20	Sep-20	Oct-20	Nov-20	Dec-20	Jan-21
PLATFORM METRICS
Platform Assets (in $B)	61.8	61.7	56.0	59.8	62.0	63.2	65.6	68.0	67.3	66.5	71.8	74.5	74.6		0.1	%	20.7	%
Net Flows (in $M)	472	703	659	414	137	357	319	541	349	396	501	636	494		-22.3	%	4.7	%
CASH METRIC
Ending ATC Client Cash (in $B)	1.75	1.81	2.99	3.04	2.84	2.96	2.60	2.63	2.66	2.47	2.50	2.62	2.44		-6.9	%	39.4	%
OTHER
Number of Households	163,644	175,026	176,681	177,975	178,284	179,166	181,115	181,977	182,683	183,774	184,935	186,602	188,057		0.8	%	14.9	%

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, 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 December 31, 2020 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.

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

Media: 
Chris Blake
MSR Communications
chris@msrcommunications.com

SOURCE: AssetMark Financial Holdings, Inc.

FAQ

What are the latest asset metrics for AMK as of January 2021?

As of January 2021, AssetMark's platform assets were $74.6 billion, with net flows of $494 million.

How much did client cash increase for AssetMark in January 2021?

Client cash at AssetMark Trust Company increased by 39.4% to $2.44 billion in January 2021.

What is the year-over-year growth in households served by AssetMark?

AssetMark's households served grew by 14.9% year-over-year to a total of 188,057.

What was the change in net flows for AssetMark in January 2021 compared to the previous month?

Net flows for January 2021 showed a decrease of 22.3% compared to the previous month.