March AMK Report

Rhea-AI Summary

AssetMark Financial Holdings, Inc. (AMK) released its "AssetMark Monthly Knowledge" Report for March 2022, highlighting key metrics. The platform assets reached $90.8 billion, a 15.1% increase year-over-year. However, net flows declined to $791 million, down 12.2% year-over-year. On a positive note, client cash at AssetMark Trust Company increased to $3.09 billion, up 23.6%. The total number of households served also rose by 13.0% to 215,668.

Positive

• Platform assets increased to $90.8 billion, up 15.1% year-over-year.
• Client cash at AssetMark Trust Company rose to $3.09 billion, a 23.6% increase year-over-year.
• Total households served grew by 13.0% to 215,668.

Negative

• Net flows decreased to $791 million, down 12.2% year-over-year.

CONCORD, Calif., April 11, 2022 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report today.

Company highlights for the month of March 2022 include:

• Platform assets of $90.8 billion at the end of March, up 15.1% year-over-year.
• Net flows were $791 million in the month of March, down 12.2% year-over-year.
• AssetMark Trust Company client cash was $3.09 billion, up 23.6% year-over-year.
• Number of households increased 13.0% year-over-year to 215,668 at the end of March.

																											Change
																											Mo.		Yr.
	Mar-21		Apr-21		May-21		Jun-21		Jul-21		Aug-21		Sep-21		Oct-21		Nov-21		Dec-21		Jan-22		Feb-22		Mar-22
PLATFORM METRICS
Platform Assets (in $B)	78.9		81.7		83.0		84.6		86.1		88.5		86.8		90.3		89.8		93.5		90.5		89.5		90.8		1.5%		15.1%
Net Flows (in $M)	901		780		514		934		935		927		968		892		994		1,062		650		694		791		14.0%		-12.2%
CASH METRIC
Ending ATC Client Cash (in $B)	2.50		2.48		2.56		2.59		2.47		2.45		2.61		2.43		2.62		2.93		2.85		2.86		3.09		8.0%		23.6%
OTHER
Number of Households	190,915		193,325		193,833		196,474		198,619		200,778		203,004		205,808		207,432		209,900		211,601		213,445		215,668		1.0%		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, 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 March 31, 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 are the latest platform assets reported by AssetMark (AMK)?

As of March 2022, AssetMark reported platform assets of $90.8 billion, a 15.1% increase year-over-year.

How much were the net flows for AssetMark (AMK) in March 2022?

Net flows for AssetMark in March 2022 were $791 million, which is a 12.2% decrease compared to the previous year.

What is the total client cash reported by AssetMark Trust Company (AMK)?

AssetMark Trust Company reported client cash of $3.09 billion as of March 2022, an increase of 23.6% year-over-year.

How many households does AssetMark (AMK) serve as of March 2022?

AssetMark serves a total of 215,668 households, reflecting a 13.0% year-over-year growth.