March AMK Report
13 April 2020 - 10:15PM
AssetMark Financial Holdings, Inc. (NYSE: AMK) released its
“AssetMark Monthly Knowledge” Report today.
Company highlights for the month of March 2020
include:
- Platform assets of $56.0 billion at the end of March, up 12.7%
year-over-year.
- Net flows were $659 million in the month of March, up 27.2%
year-over-year.
- AssetMark Trust Company client cash increased 112.1%
year-over-year. -- Average client cash for
the first quarter was $2.0 billion, on which AssetMark received a
blended annualized yield of 1.36%. Given recent rate actions by the
Fed, we expect this yield to decline materially in the second
quarter.
- Number of households increased 28.3% year-over-year to 176,681
at the end of March.
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Change |
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Mo. |
Yr. |
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Mar-19 |
Apr-19 |
May-19 |
Jun-19 |
Jul-19 |
Aug-19 |
Sep-19 |
Oct-19 |
Nov-19 |
Dec-19 |
Jan-20 |
Feb-20 |
Mar-20 |
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PLATFORM METRICS |
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Platform Assets (in $B) |
49.7 |
54.9 |
53.6 |
56.1 |
56.7 |
57.1 |
57.9 |
59.2 |
60.6 |
61.6 |
|
61.8 |
61.7 |
56.0 |
|
-9.2 |
% |
12.7 |
% |
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Net Flows (in $M) |
518 |
513 |
546 |
454 |
538 |
507 |
312 |
755 |
547 |
(194 |
) |
472 |
703 |
659 |
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-6.3 |
% |
27.2 |
% |
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CASH METRIC |
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Ending ATC Client Cash (in $B) |
1.41 |
1.40 |
1.40 |
1.49 |
1.45 |
1.58 |
1.75 |
1.78 |
1.74 |
1.88 |
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1.75 |
1.81 |
2.99 |
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65.2 |
% |
112.1 |
% |
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OTHER |
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Number of Households |
137,749 |
154,081 |
154,576 |
155,372 |
156,905 |
158,273 |
159,496 |
161,262 |
162,503 |
162,225 |
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163,644 |
175,026 |
176,681 |
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0.9 |
% |
28.3 |
% |
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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 on
March 13, 2020 as part of the Company’s Annual Report on Form 10-K
for the year ended December 31, 2019. 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 ended March 31, 2020 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.
SOURCE: AssetMark Financial Holdings, Inc.
Contacts Investors:Taylor J. Hamilton, CFAHead
of Investor RelationsInvestorRelations@assetmark.com
Media: Lexy SiegelGroup Gordon lsiegel@groupgordon.com
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