March AMK Report

Rhea-AI Summary

AssetMark Financial Holdings (NYSE: AMK) has shared its “AssetMark Monthly Knowledge” Report for March 2021. Key highlights include a significant increase in platform assets, reaching $78.9 billion, a 40.9% year-over-year rise. Net flows totaled $901 million, marking a 36.7% increase compared to the previous year. However, client cash at AssetMark Trust Company decreased to $2.50 billion, down 16.4% year-over-year. The number of households also grew by 8.1%, reaching 190,915.

Positive

• Platform assets increased to $78.9 billion, up 40.9% year-over-year.
• Net flows were $901 million in March, a 36.7% increase year-over-year.
• The number of households rose by 8.1% to 190,915.

Negative

• Client cash decreased to $2.50 billion, down 16.4% year-over-year.

CONCORD, Calif., April 12, 2021 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report today.

Company highlights for the month of March 2021 include:

• Platform assets of $78.9 billion at the end of March, up 40.9% year-over-year.
• Net flows were $901 million in the month of March, up 36.7% year-over-year.
• AssetMark Trust Company client cash was $2.50 billion, down 16.4% year-over-year.
• Number of households increased 8.1% year-over-year to 190,915 at the end of March.

															Change
															Mo.		Yr.
	Mar-20	Apr-20	May-20	Jun-20	Jul-20	Aug-20	Sep-20	Oct-20	Nov-20	Dec-20	Jan-21	Feb-21	Mar-21
PLATFORM METRICS
Platform Assets (in $B)	56.0	59.8	62.0	63.2	65.6	68.0	67.3	66.5	71.8	74.5	74.6	76.2	78.9		3.5	%	40.9	%
Net Flows (in $M)	659	414	137	357	319	541	349	396	501	636	494	532	901		69.4	%	36.7	%
CASH METRIC
Ending ATC Client Cash (in $B)	2.99	3.04	2.84	2.96	2.60	2.63	2.66	2.47	2.50	2.62	2.44	2.60	2.50		-3.8	%	-16.4	%
OTHER
Number of Households	176,681	177,975	178,284	179,166	181,115	181,977	182,683	183,774	184,935	186,602	188,057	188,679	190,915		1.2	%	8.1	%

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, 2020. 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, 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.

Forward-Looking Statements

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release are forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings we make with the Securities and Exchange Commission. AssetMark undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

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: 
Chris Blake
MSR Communications
chris@msrcommunications.com

FAQ

What are the key highlights from AssetMark's March 2021 report?

AssetMark reported platform assets of $78.9 billion, up 40.9% year-over-year, net flows of $901 million, and an 8.1% increase in households.

How much did AssetMark's client cash decline in March 2021?

Client cash at AssetMark Trust Company decreased to $2.50 billion, reflecting a 16.4% year-over-year decline.

What was the percentage increase in net flows for AssetMark in March 2021?

Net flows for AssetMark in March 2021 increased by 36.7% year-over-year to $901 million.

How many households did AssetMark have at the end of March 2021?

As of the end of March 2021, AssetMark had 190,915 households, an increase of 8.1% year-over-year.