January AMK Report

Rhea-AI Summary

AssetMark Financial Holdings (NYSE: AMK) reported robust growth in its January 2022 metrics, showcasing significant year-over-year increases. Platform assets reached $90.5 billion, marking a 21.3% rise. The net flows were recorded at $650 million, up 31.6%. The company's trust company client cash also grew, totaling $2.85 billion, a 16.8% increase. Furthermore, the number of households served increased to 211,601, up 12.5% year-over-year. These figures reflect AssetMark's strong performance in the wealth management sector.

Positive

• Platform assets rose to $90.5 billion, up 21.3% year-over-year.
• Net flows in January 2022 totaled $650 million, up 31.6% from the previous year.
• Client cash at AssetMark Trust Company increased to $2.85 billion, a 16.8% rise.
• The number of households served grew by 12.5% to 211,601.

Negative

• January 2022 net flows decreased by 38.8% compared to December 2021.

CONCORD, Calif., Feb. 10, 2022 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report today.

Company highlights for the month of January 2022 include:

• Platform assets of $90.5 billion at the end of January, up 21.3% year-over-year.
• Net flows were $650 million in the month of January, up 31.6% year-over-year.
• AssetMark Trust Company client cash was $2.85 billion, up 16.8% year-over-year.
• Number of households increased 12.5% year-over-year to 211,601 at the end of January.

														Change
														Mo.		Yr.
	Jan-21	Feb-21	Mar-21	Apr-21	May-21	Jun-21	Jul-21	Aug-21	Sep-21	Oct-21	Nov-21	Dec-21	Jan-22
PLATFORM METRICS
Platform Assets (in $B)	74.6	76.2	78.9	81.7	83.0	84.6	86.1	88.5	86.8	90.3	89.8	93.5	90.5	-3.2	%	21.3	%
Net Flows (in $M)	494	532	901	780	514	934	935	927	968	892	994	1,062	650	-38.8	%	31.6	%
CASH METRIC
Ending ATC Client Cash (in $B)	2.44	2.60	2.50	2.48	2.56	2.59	2.47	2.45	2.61	2.43	2.62	2.93	2.85	-2.7	%	16.8	%
OTHER
Number of Households	188,057	188,679	190,915	193,325	193,833	196,474	198,619	200,778	203,004	205,808	207,432	209,900	211,601	0.8	%	12.5	%

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, 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 March 31, 2022 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.

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 were AssetMark's platform assets in January 2022?

In January 2022, AssetMark's platform assets reached $90.5 billion, a 21.3% increase year-over-year.

How much were the net flows for AssetMark in January 2022?

AssetMark's net flows for January 2022 were $650 million, reflecting a 31.6% increase from the previous year.

What was the client cash amount at AssetMark Trust Company in January 2022?

The client cash at AssetMark Trust Company totaled $2.85 billion in January 2022, which is a 16.8% year-over-year increase.

How many households does AssetMark serve as of January 2022?

As of January 2022, AssetMark serves 211,601 households, a 12.5% growth compared to the previous year.

What was the percentage change in AssetMark's net flows from December 2021 to January 2022?

Net flows at AssetMark decreased by 38.8% from December 2021 to January 2022.