June AMK Report

Company Results - AssetMark Financial Holdings, Inc. reported platform assets of $119.4 billion at the end of June 2024, representing an 18.5% increase year-over-year [1][2] - Net flows for June 2024 were $397 million, which is a decrease of 36.4% year-over-year [1][2] - Client cash at AssetMark Trust Company was $2.93 billion, showing a slight decline of 0.3% year-over-year [1][2] - The number of households served by AssetMark increased by 5.4% year-over-year, reaching 261,341 at the end of June [1][2] Monthly Metrics - Platform assets increased from $100.8 billion in June 2023 to $119.4 billion in June 2024, reflecting a month-over-month change of 1.4% [2] - Net flows decreased from $624 million in June 2023 to $397 million in June 2024, indicating a month-over-month decline of 35.0% [2] - Ending client cash at AssetMark Trust Company was $2.93 billion in June 2024, a 3.2% increase from the previous month [2] Company Overview - AssetMark operates a wealth management platform that supports independent financial advisors and their clients, providing flexible solutions to enhance client engagement and efficiency [3] - The company was founded in 1996 and is based in Concord, California, employing over 1,000 individuals [3] - As of the first quarter of 2024, AssetMark had approximately $117 billion in platform assets [3]