May AMK Report
06/10/2021 - 04:15 PM
CONCORD, Calif., June 10, 2021 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report today.
Company highlights for the month of May 2021 include:
Platform assets of $83.0 billion at the end of May, up 33.9% year-over-year. Net flows were $514 million in the month of May, up 275.2% year-over-year. This reflects $424 million of outflows from two GFPC advisors. This represents nearly all the platform assets for these advisors who are leaving the platform. These outflows were previously disclosed on AssetMark’s 1Q21 earnings call. Net flows, excluding these two GFPC advisors, were $938 million in May. AssetMark Trust Company client cash was $2.56 billion , down 9.9% year-over-year. Number of households increased 8.7% year-over-year to 193,833 at the end of May. Change Mo. Yr. May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 PLATFORM METRICS Platform Assets (in $B) 62.0 63.2 65.6 68.0 67.3 66.5 71.8 74.5 74.6 76.2 78.9 81.7 83.0 1.6 % 33.9 % Net Flows (in $M) 137 357 319 541 349 396 501 636 494 532 901 780 514 -34.1 % 275.7 % CASH METRIC Ending ATC Client Cash (in $B) 2.84 2.96 2.60 2.63 2.66 2.47 2.50 2.62 2.44 2.60 2.50 2.48 2.56 3.2 % -9.9 % OTHER Number of Households 178,284 179,166 181,115 181,977 182,683 183,774 184,935 186,602 188,057 188,679 190,915 193,325 193,833 0.3 % 8.7 %
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, 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 June 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.
Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release are forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings we make with the Securities and Exchange Commission. AssetMark undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
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 RelationsInvestorRelations@assetmark.com
Media: Oliver Hays MSR Communications for AssetMark, Inc.oliver@msrcommunications.com
SOURCE: AssetMark Financial Holdings, Inc.
Assetmark Financial Holdings Inc
AMK Rankings
#1181 Ranked by Stock Gains
AMK Stock Data
Industry
Securities and Commodity Exchanges
Sector
Finance and Insurance
Tags
Finance, Financial Conglomerates, Finance and Insurance, Securities and Commodity Exchanges
Country
US
City
Concord
About AMK
assetmark is a leading independent provider of innovative investment and consulting solutions serving financial advisors. we provide investment, relationship and practice management solutions that advisors use to help clients achieve their investment objectives and life goals. our relentless service ethic and robust client relationship support set us apart. our offering is flexible to suit each advisor's vision for working with clients and growing their practice. assetmark, inc. has more than $36 billion in combined assets on its platform and a history of innovation spanning over 20 years. for more information, visit www.assetmark.com. disclosure: posts are not a solicitation for investment and are not intended as legal or compliance advice. individual investors should consult with their financial advisors, and qualified tax advisors, before making any investment decisions. financial advisors should always consult with their own legal and compliance departments, regarding regulatory an