September AMK Report

Rhea-AI Summary

AssetMark Financial Holdings, Inc. (NYSE: AMK) reported significant growth in its "AssetMark Monthly Knowledge" Report for September 2021. Platform assets reached $86.8 billion, marking a 29.0% increase year-over-year. The company recorded net flows of $968 million, a remarkable 177.4% increase from the previous year. The number of households served also grew by 11.1% to 203,004. However, client cash declined by 1.9% year-over-year to $2.61 billion.

Positive

• Platform assets increased to $86.8 billion, up 29.0% year-over-year.
• Net flows reached $968 million, up 177.4% year-over-year.
• Number of households increased by 11.1% to 203,004.

Negative

• Client cash decreased by 1.9% year-over-year to $2.61 billion.

CONCORD, Calif., Oct. 11, 2021 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report today.

Company highlights for the month of September 2021 include:

• Platform assets of $86.8 billion at the end of September, up 29.0% year-over-year.
• Net flows were $968 million in the month of September, up 177.4% year-over-year.
• AssetMark Trust Company client cash was $2.61 billion, down 1.9% year-over-year.
• Number of households increased 11.1% year-over-year to 203,004 at the end of September.

														Change
														Mo.		Yr.
	Sep-20	Oct-20	Nov-20	Dec-20	Jan-21	Feb-21	Mar-21	Apr-21	May-21	Jun-21	Jul-21	Aug-21	Sep-21
PLATFORM METRICS
Platform Assets (in $B)	67.3	66.5	71.8	74.5	74.6	76.2	78.9	81.7	83.0	84.6	86.1	88.5	86.8	-1.9	%	29.0	%
Net Flows (in $M)	349	396	501	636	494	532	901	780	514	934	935	927	968	4.4	%	177.4	%
CASH METRIC
Ending ATC Client Cash (in $B)	2.66	2.47	2.50	2.62	2.44	2.60	2.50	2.48	2.56	2.59	2.47	2.45	2.61	6.5	%	-1.9	%
OTHER
Number of Households	182,683	183,774	184,935	186,602	188,057	188,679	190,915	193,325	193,833	196,474	198,619	200,778	203,004	1.1	%	11.1	%

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 June 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 September 30, 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 platform assets reported by AMK for September 2021?

The platform assets for AssetMark Financial Holdings, Inc. reached $86.8 billion as of September 2021.

What was the net flow figure for AMK in September 2021?

In September 2021, AssetMark reported net flows of $968 million.

How much did client cash decrease for AMK in September 2021?

Client cash for AssetMark decreased by 1.9% year-over-year to $2.61 billion.

How many households did AMK serve at the end of September 2021?

At the end of September 2021, AssetMark served 203,004 households.