May AMK Report

AssetMark Financial Holdings released its May 2024 report, showcasing key financial statistics.

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Rhea-AI Summary

AssetMark Financial Holdings released its May 2024 report, showcasing key financial statistics. Platform assets hit $117.7 billion, a 22.1% year-over-year increase.

Net flows for May were $611 million, marking a 4.1% decline from the previous year. Client cash at AssetMark Trust Company stood at $2.84 billion, down 3.7% from last year. The number of households rose by 5.7%, reaching 260,756.

This data is preliminary and should not replace AssetMark's official financial statements. The company will provide updates on its Investor Relations page.

Positive

Platform assets increased by 22.1% year-over-year, reaching $117.7 billion.
The number of households increased by 5.7%, totaling 260,756.

Negative

Net flows declined by 4.1% year-over-year, totaling $611 million.
Client cash decreased by 3.7% year-over-year, standing at $2.84 billion.

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06/10/2024 - 04:15 PM EDT

CONCORD, Calif., June 10, 2024 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report today.

Company results for the month of May 2024 include:

Platform assets of $117.7 billion at the end of May, up 22.1% year-over-year.
Net flows were $611 million in the month of May, down 4.1% year-over-year.
AssetMark Trust Company client cash was $2.84 billion, down 3.7% year-over-year.
Number of households increased 5.7% year-over-year to 260,756 at the end of May.

														Change
														Mo.	Yr.
	May-23	Jun-23	Jul-23	Aug-23	Sep-23	Oct-23	Nov-23	Dec-23	Jan-24	Feb-24	Mar-24	Apr-24	May-24
PLATFORM METRICS
Platform Assets (in $B)	96.4	100.8	103.2	102.2	99.6	97.8	104.1	108.9	109.7	113.3	116.9	113.7	117.7	3.5%	22.1%
Net Flows (in $M)	637	624	540	555	448	334	303	628	432	577	833	696	611	-12.2%	-4.1%
CASH METRIC
Ending ATC Client Cash (in $B)	2.95	2.94	2.79	2.83	2.90	2.92	2.68	3.05	2.89	2.89	3.17	2.86	2.84	-0.7%	-3.7%
OTHER
Number of Households	246,654	247,934	248,780	250,307	251,424	252,079	253,068	254,110	256,078	255,908	257,162	261,430	260,756	-0.3%	5.7%

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 March 31, 2024. 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, 2024, 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 first quarter-end 2024, the Company had approximately $117 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 Holdings, Inc.

FAQ

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What were AssetMark's platform assets for May 2024?

AssetMark's platform assets were $117.7 billion in May 2024, up 22.1% year-over-year.

How did AssetMark's net flows perform in May 2024?

Net flows for AssetMark in May 2024 were $611 million, a 4.1% decline year-over-year.

What was the client cash at AssetMark Trust Company in May 2024?

Client cash at AssetMark Trust Company was $2.84 billion in May 2024, down 3.7% year-over-year.

How many households did AssetMark serve at the end of May 2024?

AssetMark served 260,756 households at the end of May 2024, a 5.7% increase year-over-year.

May AMK Report