AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report today.

Company results for the month of July 2024 include:

  • Platform assets of $122.2 billion at the end of July, up 18.4% year-over-year. Morningstar Wealth TAMP assets are not included in our total as the deal has been signed, but is not closed.
  • Net flows were $437 million in the month of July, down 19.1% year-over-year.
  • AssetMark Trust Company client cash was $2.75 billion, down 1.4% year-over-year.
  • Number of households increased 5.0% year-over-year to 261,271 at the end of July.
                                 
                            Change  
                            Mo. Yr.  
  Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24      
PLATFORM METRICS                                
Platform Assets (in $B) 103.2 102.2 99.6 97.8 104.1 108.9 109.7 113.3 116.9 113.7 117.7 119.4 122.2 2.3 % 18.4 %  
Net Flows (in $M) 540 555 448 334 303 628 432 577 833 696 611 397 437 10.1 % -19.1 %  
CASH METRIC                                
Ending ATC Client Cash (in $B) 2.79 2.83 2.90 2.92 2.68 3.05 2.89 2.89 3.17 2.86 2.84 2.93 2.75 -6.1 % -1.4 %  
OTHER                                
Number of Households 248,780 250,307 251,424 252,079 253,068 254,110 256,078 255,908 257,162 261,430 260,756 261,341 261,271 0.0 % 5.0 %  
                                 
                                 

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 June 30, 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 September 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 second quarter-end 2024, the Company had approximately $119 billion in platform assets.

Contacts Investors:Taylor J. Hamilton, CFAHead of Investor RelationsInvestorRelations@assetmark.com

Media:Vesselina DavenportManager, PR & CommunicationsVesselina.Davenport@assetmark.com

SOURCE: AssetMark Financial Holdings, Inc.

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