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May AMK Report

CONCORD, Calif., June 12, 2023 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report today.

Company results for the month of May 2023 include:

  • Platform assets of $96.4 billion at the end of May, up 10.9% year-over-year.
  • Net flows were $637 million in the month of May, up 5.3% year-over-year.
  • AssetMark Trust Company client cash was $2.95 billion, down 18.1% year-over-year.
  • Number of households increased 12.5% year-over-year to 246,654 at the end of May.
 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23    
PLATFORM METRICS                             
Platform Assets (in $B)86.9 82.1 86.3 84.4 79.4 82.8 87.1 91.5 95.8 94.3 96.2 96.9 96.4 -0.5%10.9% 
Net Flows (in $M)605 383 374 605 228 283 280 345 347 540 744 433 637 47.1%5.3% 
CASH METRIC                             
Ending ATC Client Cash (in $B)3.60 3.70 3.60 4.48 3.51 3.49 3.27 3.54 3.32 3.32 3.19 2.87 2.95 2.8%-18.1% 
Number of Households219,160 220,172 221,104 222,110 223,098 225,103 224,983 241,053 242,572 242,826 243,775 246,570 246,654 0.0%12.5% 

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 Annual Report on Form 10-Q for the quarter ended March 31, 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 June 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 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 approximately 1,000 employees. As of March 31, 2023, the company had $96.2 billion in platform assets.

Taylor J. Hamilton, CFA
Head of Investor Relations

Alaina Kleinman
Head of PR & Communications

SOURCE: AssetMark Financial Holdings, Inc.

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