Page 1

ASSETMARK . Asset Mark Reports $ 78.9B Platform Assets for First Quarter 2021 CONCORD , Calif . , May 4 , 2021 ( GLOBE NEWSWIRE ) — AssetMark Financial Holdings , Inc. ( NYSE : AMK ) today announced financial results for the quarter ended March 31 , 2021 . First Quarter 2021 Financial and Operational Highlights • • • • • • Net loss for the quarter was $ 8.9 million , or $ 0.13 per share . Adjusted net income for the quarter was $ 22.2 million , or $ 0.30 per share , on total revenue of $ 119.0 million . Adjusted EBITDA for the quarter was $ 34.1 million , or 28.6 % of total revenue . Platform assets increased 40.8 % year - over - year and 5.9 % quarter - over - quarter to $ 78.9 billion , aided by quarterly record net flows of $ 1.9 billion and market impact net of fees of $ 2.4 billion . Year - to - date annualized net flows as a percentage of beginning - of - year platform assets were 10.3 % . More than 4,300 new households and 194 new producing advisors joined the AssetMark platform during the first quarter . In total , as of March 31 , 2021 there were over 8,400 advisors ( approximately 2,600 were engaged advisors ) and over 190,900 investor households on the AssetMark platform . We realized 21.8 % annualized production lift from existing advisors for the first quarter , indicating that advisors continued to grow organically and increase wallet share on our platform . " AssetMark had a very strong first quarter , a testament to living our mission and executing on our strategy . We grew through the pandemic , and are beginning to see an acceleration in our growth as we enter a post - pandemic world , " said AssetMark CEO Natalie Wolfsen . " First quarter net flows were a record $ 1.9 billion and annualized net flows as percentage of beginning of period assets are over 10 % . We realized record revenue and adjusted EBTIDA in the first quarter , while continuing to drive scale in the business . We are making great progress on our 2021 strategic priorities , maintaining a strong financial position and will be returning to in - person events soon . These will help us continue to attract new advisors , accelerate organic growth and gain market share . ” 1