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AssetMark Deepens Commitment to ESG with Sustainability-Linked Loan

CONCORD, Calif., Nov. 15, 2022 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc, a leading wealth management platform for financial advisors, today underscored its commitment to environmental, social and governance (ESG) practices in announcing it has entered into a sustainability linked financing agreement. The deal is an amendment to the previously announced credit facility commitment, converting AssetMark’s $500 million corporate revolving credit facility into a Sustainability-Linked Loan.

The arrangement introduces a margin adjustment incentive mechanism tied to three of the firm’s Sustainability Accounting Standards Board-aligned ESG objectives:

  • Increasing the proportion of diverse new hires;
  • Providing ESG training to advisors using its platform; and
  • Expanding the number of ESG investment strategists offered on the AssetMark platform (in alignment with a predefined ESG criteria).

Beginning in 2023, the firm can save up to 5 bps on its cost of borrowing by meeting key performance indicators established for each of the above ESG priorities.

“Central to AssetMark’s mission is making a difference – in the lives of our advisors and their clients, in the communities in which we live and work, and in the world more broadly,” said Gary Zyla, Chief Financial Officer of AssetMark. “As we deepen our commitment to transparency and responsible corporate citizenship, this sustainability-linked facility is a meaningful way to measure our progress against our ESG goals in alignment with our financing plans.”

This announcement follows AssetMark’s launch of a Values-Driven Investing program earlier in the year, as well as the release of its inaugural ESG Report.

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 advisor subsidiary registered with the 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. AssetMark had $79.4 billion in platform assets as of September 30, 2022 and has a history of innovation spanning more than 20 years.

Media Contact:
Alaina Kleinman
Director, Communications & Public Relations, AssetMark, Inc.

Taylor J. Hamilton, CFA
Head of Investor Relations

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