July AMK Report

Rhea-AI Summary

AssetMark Financial Holdings, Inc. (NYSE: AMK) released its "Monthly Knowledge" Report for July 2022, indicating platform assets of $86.3 billion, a 0.2% year-over-year increase. However, net flows decreased significantly by 60.0% year-over-year to $374 million. Despite this decline in net flows, client cash increased by 45.7% year-over-year, reaching $3.60 billion. The number of households served also grew by 11.3%, totaling 221,104. This data is preliminary and subject to change.

Positive

• Platform assets increased by 0.2% year-over-year, reaching $86.3 billion.
• Client cash rose significantly by 45.7% year-over-year to $3.60 billion.
• The number of households increased by 11.3% year-over-year to 221,104.

Negative

• Net flows fell by 60.0% year-over-year to $374 million.

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

Company results for the month of July 2022 include:

• Platform assets of $86.3 billion at the end of July, up 0.2% year-over-year.
• Net flows were $374 million in the month of July, down 60.0% year-over-year.
• AssetMark Trust Company client cash was $3.60 billion, up 45.7% year-over-year.
• Number of households increased 11.3% year-over-year to 221,104 at the end of July.

														Change
														Mo.		Yr.
	Jul-21	Aug-21	Sep-21	Oct-21	Nov-21	Dec-21	Jan-22	Feb-22	Mar-22	Apr-22	May-22	Jun-22	Jul-22
PLATFORM METRICS
Platform Assets (in $B)	86.1	88.5	86.8	90.3	89.8	93.5	90.5	89.5	90.8	86.0	86.9	82.1	86.3	5.1	%	0.2	%
Net Flows (in $M)	935	927	968	892	994	1,062	650	694	791	376	605	383	374	-2.3	%	-60.0	%
CASH METRIC
Ending ATC Client Cash (in $B)	2.47	2.45	2.61	2.43	2.62	2.93	2.85	2.86	3.09	2.92	3.60	3.70	3.60	-2.7	%	45.7	%
OTHER
Number of Households	198,619	200,778	203,004	205,808	207,432	209,900	211,601	213,445	215,668	218,508	219,160	220,172	221,104	0.4	%	11.3	%

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, 2022. 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, 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.

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 platform assets in July 2022?

AssetMark's platform assets were $86.3 billion at the end of July 2022.

How much did AssetMark's net flows decrease in July 2022?

Net flows for AssetMark decreased by 60.0% year-over-year, totaling $374 million in July 2022.

What is the amount of AssetMark's client cash as of July 2022?

As of July 2022, AssetMark's client cash was $3.60 billion, representing a 45.7% year-over-year increase.

How many households does AssetMark serve as of July 2022?

AssetMark serves 221,104 households as of the end of July 2022.