March AMK Report

Rhea-AI Summary

AssetMark Financial Holdings, Inc. (NYSE: AMK) reported its monthly results for March 2023, showcasing a year-over-year increase in platform assets, which reached $96.2 billion, marking a growth of 5.9%. However, net flows decreased to $744 million, down 5.9% compared to the previous year. The company noted an increase in client cash to $3.19 billion, up 3.2%. The number of households served rose significantly, up 13.0% year-over-year to 243,775. This data serves as supplemental information and does not replace the financial statements filed for the year ending December 31, 2022.

Positive

• Platform assets increased to $96.2 billion, up 5.9% year-over-year.
• Client cash rose to $3.19 billion, an increase of 3.2%.
• Number of households increased by 13.0% to 243,775.

Negative

• Net flows decreased to $744 million, down 5.9% year-over-year.

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

Company results for the month of March 2023 include:

• Platform assets of $96.2 billion at the end of March, up 5.9% year-over-year.
• Net flows were $744 million in the month of March, down 5.9% year-over-year.
• AssetMark Trust Company client cash was $3.19 billion, up 3.2% year-over-year.
• Number of households increased 13.0% year-over-year to 243,775 at the end of March.

														Change
														Mo.		Yr.
	Mar-22	Apr-22	May-22	Jun-22	Jul-22	Aug-22	Sep-22	Oct-22	Nov-22	Dec-22	Jan-23	Feb-23	Mar-23
PLATFORM METRICS
Platform Assets (in $B)	90.8	86.0	86.9	82.1	86.3	84.4	79.4	82.8	87.1	91.5	95.8	94.3	96.2	2.0	%	5.9	%
Net Flows (in $M)	791	376	605	383	374	605	228	283	280	345	347	540	744	37.8	%	-5.9	%
CASH METRIC
Ending ATC Client Cash (in $B)	3.09	2.92	3.60	3.70	3.60	4.48	3.51	3.49	3.27	3.54	3.32	3.32	3.19	-3.9	%	3.2	%
OTHER
Number of Households	215,668	218,508	219,160	220,172	221,104	222,110	223,098	225,103	224,983	241,053	242,572	242,826	243,775	0.4	%	13.0	%

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-K for the year ended December 31, 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 March 31, 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 is 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. Today, the AssetMark platform serves 9,200 financial advisors and roughly 243,000 investor households. As of December 31, 2022, the company had $91.5 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 the latest platform assets for AssetMark (AMK)?

As of March 2023, AssetMark's platform assets are $96.2 billion, reflecting a 5.9% increase year-over-year.

How did net flows change for AssetMark (AMK) in March 2023?

Net flows for March 2023 decreased to $744 million, which is a 5.9% decline compared to the previous year.

What was the cash metric for AssetMark (AMK) reported in March 2023?

AssetMark reported client cash of $3.19 billion in March 2023, representing a 3.2% year-over-year increase.

How many households does AssetMark (AMK) serve as of March 2023?

As of March 2023, AssetMark serves 243,775 households, marking a 13.0% increase year-over-year.