November AMK Report

Rhea-AI Summary

AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report, showing platform assets of $104.1 billion, up 19.5% year-over-year, with net flows of $303 million, up 8.2% year-over-year. Despite a decrease in AssetMark Trust Company client cash by 18.0% year-over-year, the number of households increased by 12.5% year-over-year to 253,068.

Positive

• Platform assets increased by 19.5% year-over-year, indicating strong growth.
• Net flows also increased by 8.2% year-over-year, reflecting positive investor activity.
• The number of households grew by 12.5% year-over-year, demonstrating an expanding client base.

Negative

• AssetMark Trust Company client cash decreased by 18.0% year-over-year, potentially indicating a decrease in client liquidity.

CONCORD, Calif., Dec. 11, 2023 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report today.

Company results for the month of November 2023 include:

• Platform assets of $104.1 billion at the end of November, up 19.5% year-over-year.
• Net flows were $303 million in the month of November, up 8.2% year-over-year.
• AssetMark Trust Company client cash was $2.68 billion, down 18.0% year-over-year.
• Number of households increased 12.5% year-over-year to 253,068 at the end of November.

														Change
														Mo.		Yr.
	Nov-22	Dec-22	Jan-23	Feb-23	Mar-23	Apr-23	May-23	Jun-23	Jul-23	Aug-23	Sep-23	Oct-23	Nov-23
PLATFORM METRICS
Platform Assets (in $B)	87.1	91.5	95.8	94.3	96.2	96.9	96.4	100.8	103.2	102.2	99.6	97.8	104.1	6.4	%	19.5	%
Net Flows (in $M)	280	345	347	540	744	433	637	624	540	555	448	334	303	-9.3	%	8.2	%
CASH METRIC
Ending ATC Client Cash (in $B)	3.27	3.54	3.32	3.32	3.19	2.87	2.95	2.94	2.79	2.83	2.90	2.92	2.68	-8.2	%	-18.0	%
OTHER
Number of Households	224,983	241,053	242,572	242,826	243,775	246,570	246,654	247,934	248,780	250,307	251,424	252,079	253,068	0.4	%	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 Quarterly Report on Form 10-Q for the quarter ended September 30, 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 December 31, 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 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 September 30, 2023, the company had $99.6 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 Holding, Inc.

FAQ

What are AssetMark Financial Holdings, Inc.'s platform assets at the end of November 2023?

AssetMark Financial Holdings, Inc.'s platform assets at the end of November 2023 were $104.1 billion, up 19.5% year-over-year.

What were the net flows for AssetMark Financial Holdings, Inc. in November 2023?

AssetMark Financial Holdings, Inc. had net flows of $303 million in November 2023, up 8.2% year-over-year.

How many households does AssetMark Financial Holdings, Inc. have at the end of November 2023?

AssetMark Financial Holdings, Inc. had 253,068 households at the end of November 2023, a 12.5% increase year-over-year.

What happened to AssetMark Trust Company client cash in November 2023?

AssetMark Trust Company client cash was $2.68 billion in November 2023, down 18.0% year-over-year.