June AMK Report

Rhea-AI Summary

AssetMark Financial Holdings, Inc. released its 'AssetMark Monthly Knowledge' Report for June 2023. Key highlights include platform assets of $100.8 billion, net flows of $624 million, AssetMark Trust Company client cash of $2.94 billion, and an increase in the number of households to 247,934.

Positive

• Platform assets increased by 22.8% year-over-year to reach $100.8 billion.
• Net flows saw a significant increase of 62.9% year-over-year, totaling $624 million.
• AssetMark Trust Company client cash decreased by 20.5% year-over-year to $2.94 billion.
• The number of households increased by 12.6% year-over-year, reaching 247,934.

Negative

• None.

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

Company results for the month of June 2023 include:

• Platform assets of $100.8 billion at the end of June, up 22.8% year-over-year.
• Net flows were $624 million in the month of June, up 62.9% year-over-year.
• AssetMark Trust Company client cash was $2.94 billion, down 20.5% year-over-year.
• Number of households increased 12.6% year-over-year to 247,934 at the end of June.

														Change
														Mo.		Yr.
	Jun-22	Jul-22	Aug-22	Sep-22	Oct-22	Nov-22	Dec-22	Jan-23	Feb-23	Mar-23	Apr-23	May-23	Jun-23
PLATFORM METRICS
Platform Assets (in $B)	82.1	86.3	84.4	79.4	82.8	87.1	91.5	95.8	94.3	96.2	96.9	96.4	100.8	4.6	%	22.8	%
Net Flows (in $M)	383	374	605	228	283	280	345	347	540	744	433	637	624	-2.0	%	62.9	%
CASH METRIC
Ending ATC Client Cash (in $B)	3.70	3.60	4.48	3.51	3.49	3.27	3.54	3.32	3.32	3.19	2.87	2.95	2.94	-0.3	%	-20.5	%
OTHER
Number of Households	220,172	221,104	222,110	223,098	225,103	224,983	241,053	242,572	242,826	243,775	246,570	246,654	247,934	0.5	%	12.6	%

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 March 31, 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 June 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 approximately 1,000 employees. As of March 31, 2023, the company had $96.2 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 is the platform assets value for AssetMark Financial Holdings, Inc. in June 2023?

The platform assets for AssetMark Financial Holdings, Inc. in June 2023 were $100.8 billion.

What is the net flows value for AssetMark Financial Holdings, Inc. in June 2023?

The net flows for AssetMark Financial Holdings, Inc. in June 2023 were $624 million.

What is the AssetMark Trust Company client cash value in June 2023?

The AssetMark Trust Company client cash in June 2023 was $2.94 billion.

What is the percentage change in the number of households for AssetMark Financial Holdings, Inc. compared to the previous year?

The number of households for AssetMark Financial Holdings, Inc. increased by 12.6% compared to the previous year.