November AMK Report

Rhea-AI Summary

AssetMark Financial Holdings (AMK) reported robust growth metrics in its November 2021 “AssetMark Monthly Knowledge” Report. The company’s platform assets reached $89.8 billion, reflecting a 25.1% year-over-year increase. Notably, net flows surged to $994 million, up 98.4% year-over-year. The cash held by AssetMark Trust Company clients totaled $2.62 billion, marking a 4.8% year-over-year increase. Additionally, the number of households utilizing AssetMark’s services grew by 12.2%, totaling 207,432 households.

Positive

• Platform assets increased to $89.8 billion, up 25.1% year-over-year.
• Net flows reached $994 million, a remarkable 98.4% year-over-year growth.
• Client cash at AssetMark Trust Company rose to $2.62 billion, up 4.8% year-over-year.
• Households served increased by 12.2% year-over-year to 207,432.

Negative

• None.

CONCORD, Calif., Dec. 13, 2021 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report today.

Company highlights for the month of November 2021 include:

• Platform assets of $89.8 billion at the end of November, up 25.1% year-over-year.
• Net flows were $994 million in the month of November, up 98.4% year-over-year.
• AssetMark Trust Company client cash was $2.62 billion, up 4.8% year-over-year.
• Number of households increased 12.2% year-over-year to 207,432 at the end of November.

																											Change
																											Mo.			Yr.
	Nov-20		Dec-20		Jan-21		Feb-21		Mar-21		Apr-21		May-21		Jun-21		Jul-21		Aug-21		Sep-21		Oct-21		Nov-21
PLATFORM METRICS
Platform Assets (in $B)	71.8		74.5		74.6		76.2		78.9		81.7		83.0		84.6		86.1		88.5		86.8		90.3		89.8		-0.6	%		25.1	%
Net Flows (in $M)	501		636		494		532		901		780		514		934		935		927		968		892		994		11.4	%		98.4	%
CASH METRIC
Ending ATC Client Cash (in $B)	2.50		2.62		2.44		2.60		2.50		2.48		2.56		2.59		2.47		2.45		2.61		2.43		2.62		7.8	%		4.8	%
OTHER
Number of Households	184,935		186,602		188,057		188,679		190,915		193,325		193,833		196,474		198,619		200,778		203,004		205,808		207,432		0.8	%		12.2	%

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, 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 December 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.

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 are AssetMark's platform assets as of November 2021?

AssetMark's platform assets are $89.8 billion as of November 2021.

How much were AssetMark's net flows in November 2021?

AssetMark's net flows amounted to $994 million in November 2021.

What was the year-over-year growth in AssetMark's platform assets?

The year-over-year growth in AssetMark's platform assets was 25.1%.

How many households did AssetMark serve in November 2021?

AssetMark served 207,432 households at the end of November 2021.

What was the increase in client cash at AssetMark Trust Company?

Client cash at AssetMark Trust Company increased to $2.62 billion, up 4.8% year-over-year.