September AMK Report

Rhea-AI Summary

AssetMark Financial Holdings, Inc. (NYSE: AMK) reported its September 2022 results, revealing significant decreases in key metrics. Platform assets ended at $79.4 billion, marking an 8.5% decline year-over-year. Net flows also fell drastically to $228 million, down 76.4% year-over-year. In contrast, cash held by AssetMark Trust Company increased by 34.5% to $3.51 billion. The number of households served grew by 9.9%, reaching 223,098.

Positive

• Client cash increased to $3.51 billion, up 34.5% year-over-year.
• Number of households served increased to 223,098, up 9.9% year-over-year.

Negative

• Platform assets decreased to $79.4 billion, down 8.5% year-over-year.
• Net flows were $228 million, down 76.4% year-over-year.

CONCORD, Calif., Oct. 10, 2022 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report today.

Company results for the month of September 2022 include:

• Platform assets of $79.4 billion at the end of September, down 8.5% year-over-year.
• Net flows were $228 million in the month of September, down 76.4% year-over-year.
• AssetMark Trust Company client cash was $3.51 billion, up 34.5% year-over-year.
• Number of households increased 9.9% year-over-year to 223,098 at the end of September.

														Change
														Mo.		Yr.
	Sep-21	Oct-21	Nov-21	Dec-21	Jan-22	Feb-22	Mar-22	Apr-22	May-22	Jun-22	Jul-22	Aug-22	Sep-22
PLATFORM METRICS
Platform Assets (in $B)	86.8	90.3	89.8	93.5	90.5	89.5	90.8	86.0	86.9	82.1	86.3	84.4	79.4	-5.9	%	-8.5	%
Net Flows (in $M)	968	892	994	1,062	650	694	791	376	605	383	374	605	228	-62.3	%	-76.4	%
CASH METRIC
Ending ATC Client Cash (in $B)	2.61	2.43	2.62	2.93	2.85	2.86	3.09	2.92	3.60	3.70	3.60	4.48	3.51	-21.7	%	34.5	%
OTHER
Number of Households	203,004	205,808	207,432	209,900	211,601	213,445	215,668	218,508	219,160	220,172	221,104	222,110	223,098	0.4	%	9.9	%

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, 2022. 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, 2022 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 results for AssetMark (AMK) as of September 2022?

As of September 2022, AssetMark reported platform assets of $79.4 billion, a decline of 8.5% year-over-year, and net flows of $228 million, down 76.4% year-over-year.

How much client cash does AssetMark Trust Company hold?

AssetMark Trust Company holds client cash amounting to $3.51 billion as of September 2022, which is an increase of 34.5% year-over-year.

How many households does AssetMark serve as of September 2022?

AssetMark serves 223,098 households as of September 2022, representing a 9.9% increase year-over-year.