September AMK Report

Rhea-AI Summary

AssetMark Financial Holdings, Inc. releases monthly report with positive results.

Positive

• Platform assets increased 25.4% YoY to $99.6 billion.
• Net flows rose 96.5% YoY to $448 million in September.
• Number of households grew 12.7% YoY to 251,424.

Negative

• None.

CONCORD, Calif., Oct. 10, 2023 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report today.

Company results for the month of September 2023 include:

• Platform assets of $99.6 billion at the end of September, up 25.4% year-over-year.
• Net flows were $448 million in the month of September, up 96.5% year-over-year.
• AssetMark Trust Company client cash was $2.90 billion, down 17.4% year-over-year.
• Number of households increased 12.7% year-over-year to 251,424 at the end of September.

														Change
														Mo.		Yr.
	Sep-22	Oct-22	Nov-22	Dec-22	Jan-23	Feb-23	Mar-23	Apr-23	May-23	Jun-23	Jul-23	Aug-23	Sep-23
PLATFORM METRICS
Platform Assets (in $B)	79.4	82.8	87.1	91.5	95.8	94.3	96.2	96.9	96.4	100.8	103.2	102.2	99.6	-2.5	%	25.4	%
Net Flows (in $M)	228	283	280	345	347	540	744	433	637	624	540	555	448	-19.3	%	96.5	%
CASH METRIC
Ending ATC Client Cash (in $B)	3.51	3.49	3.27	3.54	3.32	3.32	3.19	2.87	2.95	2.94	2.79	2.83	2.90	2.5	%	-17.4	%
OTHER
Number of Households	223,098	225,103	224,983	241,053	242,572	242,826	243,775	246,570	246,654	247,934	248,780	250,307	251,424	0.4	%	12.7	%

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 June 30, 2023. 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 September 30, 2023, 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 operates a wealth management platform that powers independent financial advisors and their clients. Together with our affiliates Voyant and Adhesion Wealth, we serve advisors of all models at every stage of their journey with flexible, purpose-built solutions that champion client engagement and drive efficiency. Our ecosystem of solutions equips advisors with services and capabilities that would otherwise require significant investments of time and money, ultimately enabling them to deliver better investor outcomes and enhance their productivity, profitability and client satisfaction.

Founded in 1996 and based in Concord, California, the company has over 1,000 employees. As of June 30, 2023, the company had $100.8 billion in platform assets.

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 Holding, Inc.

FAQ

What is the increase in platform assets compared to last year?

Platform assets increased by 25.4% year-over-year to $99.6 billion.

How much were the net flows in September?

Net flows in September rose to $448 million, a 96.5% increase compared to the previous year.

What is the current number of households?

As of September, the number of households reached 251,424, showing a 12.7% year-over-year growth.