November AMK Report

Rhea-AI Summary

On December 10, 2020, AssetMark Financial Holdings (NYSE: AMK) published its November 2020 metrics. The platform assets reached $71.8 billion, reflecting an 18.5% year-over-year increase. However, net flows decreased by 8.4% year-over-year, totaling $501 million for the month. Client cash at AssetMark Trust Company rose significantly, reaching $2.50 billion, marking a 43.7% upswing. The number of households serviced also increased by 13.8% to 184,935. These metrics indicate growth in assets and cash but highlight a decline in new business inflows.

Positive

• Platform assets rose to $71.8 billion, up 18.5% year-over-year.
• Client cash at AssetMark Trust Company increased to $2.50 billion, up 43.7% year-over-year.
• Number of households increased to 184,935, representing a growth of 13.8% year-over-year.

Negative

• Net flows declined by 8.4% year-over-year, totaling $501 million.

CONCORD, Calif., Dec. 10, 2020 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report today.

Company highlights for the month of November 2020 include:

• Platform assets of $71.8 billion at the end of November, up 18.5% year-over-year.
• Net flows were $501 million in the month of November, down 8.4% year-over-year.
• AssetMark Trust Company client cash was $2.50 billion, up 43.7% year-over-year.
• Number of households increased 13.8% year-over-year to 184,935 at the end of November.

																Change
																Mo.		Yr.
	Nov-19	Dec-19		Jan-20	Feb-20	Mar-20	Apr-20	May-20	Jun-20	Jul-20	Aug-20	Sep-20	Oct-20	Nov-20
PLATFORM METRICS
Platform Assets (in $B)	60.6	61.6		61.8	61.7	56.0	59.8	62.0	63.2	65.6	68.0	67.3	66.5	71.8		8.0	%	18.5	%
Net Flows (in $M)	547	(194	)	472	703	659	414	137	357	319	541	349	396	501		26.5	%	-8.4	%
CASH METRIC
Ending ATC Client Cash (in $B)	1.74	1.88		1.75	1.81	2.99	3.04	2.84	2.96	2.60	2.63	2.66	2.47	2.50		1.2	%	43.7	%
OTHER
Number of Households	162,503	162,225		163,644	175,026	176,681	177,975	178,284	179,166	181,115	181,977	182,683	183,774	184,935		0.6	%	13.8	%

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 September 30, 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 December 31, 2020 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.

Contacts
Investors:
Taylor J. Hamilton, CFA
Head of Investor Relations
InvestorRelations@assetmark.com

Media: 
Chris Blake
MSR Communications
chris@msrcommunications.com

SOURCE: AssetMark Financial Holdings, Inc.

FAQ

What were the platform assets of AssetMark in November 2020?

The platform assets of AssetMark reached $71.8 billion in November 2020.

How much did net flows decline for AssetMark in November 2020?

Net flows for AssetMark decreased by 8.4% year-over-year, totaling $501 million in November 2020.

What was the client cash amount at AssetMark Trust Company in November 2020?

Client cash at AssetMark Trust Company amounted to $2.50 billion in November 2020, a 43.7% increase year-over-year.

How many households did AssetMark have at the end of November 2020?

AssetMark served 184,935 households at the end of November 2020, reflecting a 13.8% increase year-over-year.