July AMK Report

Rhea-AI Summary

AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report, revealing platform assets of $103.2 billion, up 19.6% year-over-year, with net flows of $540 million, a 44.4% increase. Client cash was $2.79 billion, down 22.5% year-over-year, and the number of households grew by 12.5% to 248,780. This data is supplemental and subject to revision, not indicative of future performance.

Positive

• Platform assets increased by 19.6% year-over-year, indicating strong growth.
• Net flows also saw a significant increase of 44.4% year-over-year, reflecting positive client activity.
• The growth in the number of households by 12.5% demonstrates an expanding client base.

Negative

• None.

CONCORD, Calif., Aug. 10, 2023 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report today.

Company results for the month of July 2023 include:

• Platform assets of $103.2 billion at the end of July, up 19.6% year-over-year.
• Net flows were $540 million in the month of July, up 44.4% year-over-year.
• AssetMark Trust Company client cash was $2.79 billion, down 22.5% year-over-year.
• Number of households increased 12.5% year-over-year to 248,780 at the end of July.

														Change
														Mo.		Yr.
	Jul-22	Aug-22	Sep-22	Oct-22	Nov-22	Dec-22	Jan-23	Feb-23	Mar-23	Apr-23	May-23	Jun-23	Jul-23
PLATFORM METRICS
Platform Assets (in $B)	86.3	84.4	79.4	82.8	87.1	91.5	95.8	94.3	96.2	96.9	96.4	100.8	103.2	2.4	%	19.6	%
Net Flows (in $M)	374	605	228	283	280	345	347	540	744	433	637	624	540	-13.5	%	44.4	%
CASH METRIC
Ending ATC Client Cash (in $B)	3.60	4.48	3.51	3.49	3.27	3.54	3.32	3.32	3.19	2.87	2.95	2.94	2.79	-5.1	%	-22.5	%
OTHER
Number of Households	221,104	222,110	223,098	225,103	224,983	241,053	242,572	242,826	243,775	246,570	246,654	247,934	248,780	0.3	%	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 Annual Report on Form 10-Q for the quarter ended June 30, 2023. 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, 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 operates 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 over 1,000 employees. As of June 30, 2023, the company had $100.8 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 Financial Holdings, Inc.'s platform assets?

AssetMark Financial Holdings, Inc.'s platform assets are $103.2 billion, up 19.6% year-over-year.

How much were the net flows for AssetMark Financial Holdings, Inc. in July 2023?

The net flows for AssetMark Financial Holdings, Inc. in July 2023 were $540 million, up 44.4% year-over-year.

What is the client cash for AssetMark Trust Company?

AssetMark Trust Company client cash was $2.79 billion, down 22.5% year-over-year.

How many households increased for AssetMark Financial Holdings, Inc. in July 2023?

The number of households increased by 12.5% year-over-year to 248,780 at the end of July 2023.