May AMK Report

CONCORD, Calif., June 09, 2020 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (NYSE: AMK) released its “AssetMark Monthly Knowledge” Report today. This month’s report is being issued earlier than normal to accommodate the company’s participation in an investor conference.

Company highlights for the month of May 2020 include:

• Platform assets of $62.0 billion at the end of May, up 15.7% year-over-year.
• Net flows were $137 million in the month of May, down 74.9% year-over-year.  
  •  This month, AssetMark is providing additional data to help provide context during these uncertain times, while not creating a new obligation for future disclosure.
  •  Asset retention is in line with expectations. YTD annualized redemption rate is 12.8%.¹
  •   Gross flows for May were approximately 80% of the prior month.
• AssetMark Trust Company client cash increased 102.9% year-over-year.
• Number of households increased 15.3% year-over-year to 178,284 at the end of May.

															Change
															Mo.		Yr.
	May-19	Jun-19	Jul-19	Aug-19	Sep-19	Oct-19	Nov-19	Dec-19		Jan-20	Feb-20	Mar-20	Apr-20	May-20
PLATFORM METRICS
Platform Assets (in $B)	53.6	56.1	56.7	57.1	57.9	59.2	60.6	61.6		61.8	61.7	56.0	59.8	62.0	3.7	%	15.7	%
Net Flows (in $M)	546	454	538	507	312	755	547	(194	)	472	703	659	414	137	-66.9	%	-74.9	%
CASH METRIC
Ending ATC Client Cash (in $B)	1.40	1.49	1.45	1.58	1.75	1.78	1.74	1.88		1.75	1.81	2.99	3.04	2.84	-6.6	%	102.9	%
OTHER
Number of Households	154,576	155,372	156,905	158,273	159,496	161,262	162,503	162,225		163,644	175,026	176,681	177,975	178,284	0.2	%	15.3	%

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 May 13, 2020 as part of the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2020. 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, 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. This month, AssetMark is providing additional data to help provide context during these uncertain times, while not creating a new obligation for future disclosure. 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.