July AMK Report

Rhea-AI Summary

AssetMark Financial Holdings, Inc. (NYSE: AMK) reported significant growth in its "AssetMark Monthly Knowledge" Report for July 2021. Platform assets reached $86.1 billion, reflecting a 31.3% year-over-year increase. The company achieved net flows of $935 million, up 193.3% year-over-year. However, cash held by AssetMark Trust Company clients decreased to $2.47 billion, down 5.0% year-over-year. Additionally, the number of households served rose 9.7% to 198,619.

Positive

• Platform assets increased to $86.1 billion, up 31.3% year-over-year.
• Net flows of $935 million in July, a rise of 193.3% year-over-year.
• Number of households serviced grew by 9.7% to 198,619.

Negative

• Client cash dropped to $2.47 billion, down 5.0% year-over-year.

CONCORD, Calif., Aug. 09, 2021 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report today.

Company highlights for the month of July 2021 include:

• Platform assets of $86.1 billion at the end of July, up 31.3% year-over-year.
• Net flows were $935 million in the month of July, up 193.3% year-over-year.
• AssetMark Trust Company client cash was $2.47 billion, down 5.0% year-over-year.
• Number of households increased 9.7% year-over-year to 198,619 at the end of July.

														Change
														Mo.		Yr.
	Jul-20	Aug-20	Sep-20	Oct-20	Nov-20	Dec-20	Jan-21	Feb-21	Mar-21	Apr-21	May-21	Jun-21	Jul-21
PLATFORM METRICS
Platform Assets (in $B)	65.6	68.0	67.3	66.5	71.8	74.5	74.6	76.2	78.9	81.7	83.0	84.6	86.1	1.8	%	31.3	%
Net Flows (in $M)	319	541	349	396	501	636	494	532	901	780	514	934	935	0.1	%	193.3	%
CASH METRIC
Ending ATC Client Cash (in $B)	2.60	2.63	2.66	2.47	2.50	2.62	2.44	2.60	2.50	2.48	2.56	2.59	2.47	-4.6	%	-5.0	%
OTHER
Number of Households	181,115	181,977	182,683	183,774	184,935	186,602	188,057	188,679	190,915	193,325	193,833	196,474	198,619	1.1	%	9.7	%

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, 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 September 30, 2021 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 is the latest report from AssetMark Financial Holdings (AMK)?

The latest report, released in August 2021, highlights substantial growth in platform assets and net flows for July 2021.

How much did AssetMark's platform assets reach in July 2021?

AssetMark's platform assets reached $86.1 billion in July 2021, marking a 31.3% increase year-over-year.

What were the net flows reported by AssetMark for July 2021?

AssetMark reported net flows of $935 million for July 2021, representing a 193.3% increase year-over-year.

Did AssetMark experience any decline in client cash in July 2021?

Yes, AssetMark Trust Company client cash decreased to $2.47 billion, down 5.0% year-over-year.

How many households does AssetMark serve as of July 2021?

As of July 2021, AssetMark serves 198,619 households, an increase of 9.7% year-over-year.