October AMK Report

Rhea-AI Summary

AssetMark Financial Holdings (NYSE: AMK) reported significant growth in its October 2021 metrics. The platform assets rose to $90.3 billion, a 35.8% increase year-over-year. Net flows reached $892 million, marking a substantial 125.3% growth from the previous year. However, the client cash with AssetMark Trust Company decreased slightly to $2.43 billion, down 1.6% year-over-year. The number of households served increased by 12.0% to 205,808.

Positive

• Platform assets increased by 35.8% year-over-year to $90.3 billion.
• Net flows in October surged by 125.3% year-over-year to $892 million.
• Number of households served grew by 12.0% to 205,808.

Negative

• Client cash with AssetMark Trust Company decreased by 1.6% year-over-year to $2.43 billion.

CONCORD, Calif., Nov. 10, 2021 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report today.

Company highlights for the month of October 2021 include:

• Platform assets of $90.3 billion at the end of October, up 35.8% year-over-year.
• Net flows were $892 million in the month of October, up 125.3% year-over-year.
• AssetMark Trust Company client cash was $2.43 billion, down 1.6% year-over-year.
• Number of households increased 12.0% year-over-year to 205,808 at the end of October.

														Change
														Mo.		Yr.
	Oct-20	Nov-20	Dec-20	Jan-21	Feb-21	Mar-21	Apr-21	May-21	Jun-21	Jul-21	Aug-21	Sep-21	Oct-21
PLATFORM METRICS
Platform Assets (in $B)	66.5	71.8	74.5	74.6	76.2	78.9	81.7	83.0	84.6	86.1	88.5	86.8	90.3	4.0	%	35.8	%
Net Flows (in $M)	396	501	636	494	532	901	780	514	934	935	927	968	892	-7.9	%	125.3	%
CASH METRIC
Ending ATC Client Cash (in $B)	2.47	2.50	2.62	2.44	2.60	2.50	2.48	2.56	2.59	2.47	2.45	2.61	2.43	-6.9	%	-1.6	%
OTHER
Number of Households	183,774	184,935	186,602	188,057	188,679	190,915	193,325	193,833	196,474	198,619	200,778	203,004	205,808	1.4	%	12.0	%

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 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 the latest platform assets for AssetMark Financial Holdings as of October 2021?

As of October 2021, AssetMark's platform assets reached $90.3 billion, which is a 35.8% increase year-over-year.

What was the net flow amount for AssetMark in October 2021?

The net flows for AssetMark in October 2021 were $892 million, reflecting a 125.3% increase compared to the same month last year.

How many households does AssetMark serve as of October 2021?

AssetMark served 205,808 households at the end of October 2021, up 12.0% year-over-year.

How did AssetMark's client cash change year-over-year as of October 2021?

Client cash with AssetMark Trust Company decreased by 1.6% year-over-year to $2.43 billion as of October 2021.