May AMK Report

Rhea-AI Summary

AssetMark Financial Holdings (NYSE: AMK) released its "AssetMark Monthly Knowledge" Report for May 2022, showcasing significant growth metrics. The platform assets reached $86.9 billion, marking a 4.7% year-over-year increase. Net flows amounted to $605 million, an impressive 17.7% year-over-year rise. The AssetMark Trust Company reported client cash of $3.60 billion, which is up 40.6% from the previous year. Additionally, the number of households served expanded by 13.1% to 219,160.

Positive

• Platform assets increased to $86.9 billion, up 4.7% year-over-year.
• Net flows reached $605 million in May, reflecting a 17.7% year-over-year growth.
• AssetMark Trust Company client cash rose to $3.60 billion, a 40.6% increase year-over-year.
• Number of households served grew by 13.1% to 219,160.

Negative

• None.

CONCORD, Calif., June 09, 2022 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report today.

Company highlights for the month of May 2022 include:

• Platform assets of $86.9 billion at the end of May, up 4.7% year-over-year.
• Net flows were $605 million in the month of May, up 17.7% year-over-year.
• AssetMark Trust Company client cash was $3.60 billion, up 40.6% year-over-year.
• Number of households increased 13.1% year-over-year to 219,160 at the end of May.

														Change
														Mo.		Yr.
	May-21	Jun-21	Jul-21	Aug-21	Sep-21	Oct-21	Nov-21	Dec-21	Jan-22	Feb-22	Mar-22	Apr-22	May-22
PLATFORM METRICS
Platform Assets (in $B)	83.0	84.6	86.1	88.5	86.8	90.3	89.8	93.5	90.5	89.5	90.8	86.0	86.9	1.0	%	4.7	%
Net Flows (in $M)	514	934	935	927	968	892	994	1,062	650	694	791	376	605	60.9	%	17.7	%
CASH METRIC
Ending ATC Client Cash (in $B)	2.56	2.59	2.47	2.45	2.61	2.43	2.62	2.93	2.85	2.86	3.09	2.92	3.60	23.3	%	40.6	%
OTHER
Number of Households	193,833	196,474	198,619	200,778	203,004	205,808	207,432	209,900	211,601	213,445	215,668	218,508	219,160	0.3	%	13.1	%

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 Quarterly Report on Form 10-Q for the quarter ended March 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 June 30, 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.

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 were AssetMark's platform assets in May 2022?

AssetMark's platform assets reached $86.9 billion at the end of May 2022.

How much did AssetMark report in net flows for May 2022?

AssetMark reported net flows of $605 million for May 2022.

What was the year-over-year increase in AssetMark's client cash?

AssetMark's client cash increased by 40.6% to $3.60 billion year-over-year.

How many households did AssetMark serve at the end of May 2022?

At the end of May 2022, AssetMark served 219,160 households.