CORRECTING and REPLACING – August AMK Report
September 17 2019 - 5:04PM
In a release issued under the same headline yesterday
by AssetMark, Inc. (NYSE: AMK), please note that in the
third bullet point, the year-over-year client cash increase
should be 30.6%, not 34.5% as previously stated; corresponding
client cash figures in the table have been updated as
well. The corrected release follows.
AssetMark Financial Holdings, Inc. (NYSE: AMK)
released its “AssetMark Monthly Knowledge” Report today. Company
highlights for the month of August 2019 include:
- Platform assets of $57.1 billion at the end of August, up 20.1%
year-over-year.
- Net flows were $507 million in the month of August, down 5.3%
year-over-year.
- AssetMark Trust Company client cash increased 30.6%
year-over-year.
- Number of households increased 23.3% year-over-year to 158,200
at the end of August.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mo. |
Yr. |
|
|
|
Aug-18 |
Sep-18 |
Oct-18 |
Nov-18 |
Dec-18 |
Jan-19 |
Feb-19 |
Mar-19 |
Apr-19 |
May-19 |
Jun-19 |
Jul-19 |
Aug-19 |
|
|
|
|
|
PLATFORM METRICS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Platform Assets (in $B) |
47.5 |
47.9 |
45.7 |
46.6 |
44.9 |
47.4 |
48.6 |
49.7 |
54.9 |
53.6 |
56.1 |
56.7 |
57.1 |
|
0.7 |
% |
20.1 |
% |
|
|
Net Flows (in $M) |
535 |
412 |
430 |
348 |
333 |
490 |
401 |
518 |
513 |
546 |
454 |
538 |
507 |
|
-5.7 |
% |
-5.3 |
% |
|
|
CASH METRIC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending ATC Client Cash (in $B) |
1.21 |
1.18 |
1.18 |
1.31 |
1.61 |
1.36 |
1.40 |
1.41 |
1.40 |
1.40 |
1.49 |
1.45 |
1.58 |
|
9.0 |
% |
30.6 |
% |
|
|
OTHER |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of Households |
128,360 |
129,707 |
131,353 |
132,653 |
133,947 |
135,555 |
136,116 |
137,749 |
154,081 |
154,576 |
155,372 |
156,905 |
158,273 |
|
0.9 |
% |
23.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note: ATC client cash numbers for August to December 2018
provided in the August AMK Report dated September 16, 2019 were
monthly averages. This press release provides such figures at
period end, consistent with ATC client cash for January to August
2019, and provides a similarly updated year-over-year figure.
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
August 28, 2019 as part of the Company’s Quarterly Report on Form
10-Q for the quarter ended June 30, 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 September 30, 2019 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 advisers
and their clients. Through AssetMark, Inc., its investment adviser
subsidiary registered with the 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 advisers and their clients.
SOURCE: AssetMark, Inc.
Contacts Investors:Taylor J. Hamilton, CFAHead
of Investor Relationsir@assetmark.com
Media: Lexy SiegelGroup Gordon lsiegel@groupgordon.com
AssetMark Financial (NYSE:AMK)
Historical Stock Chart
From Aug 2024 to Sep 2024
AssetMark Financial (NYSE:AMK)
Historical Stock Chart
From Sep 2023 to Sep 2024