AMK - AssetMark Financial net flows rise 275.2% Y/Y in May report

AssetMark Financial Holdings (AMK) releases its May report, updating the performance in its platform assets, net flows, cash, and number of households.Platform assets increase 33.9% Y/Y to $83B.Net flows increase 275.2% Y/Y which reflects $424M of outflows from two GFPC advisors, as previously disclosed on AMK's 1Q2021 earnings call.Excluding the two GFPC advisors, net flows were $938M.Client cash declines 9.9% Y/Y to $2.56B, and the number of households increases 8.7% Y/Y to 193,833.Last month, Raymond James upgraded AssetMark to Strong Buy as the firm has "lapped several macro and on-off headwinds."

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AssetMark Financial net flows rise 275.2% Y/Y in May report