AssetMark Financial Holdings, Inc. January Report; Platform Assets Of $109.7B At The End Of January, Up 14.5% YoY; Net Flows Were $432M In The Month Of January, Up 24.5% YoY
Portfolio Pulse from Benzinga Newsdesk
AssetMark Financial Holdings, Inc. (NYSE:AMK) reported its January 2024 results with platform assets at $109.7 billion, up 14.5% YoY. Net flows increased by 24.5% YoY to $432 million. However, AssetMark Trust Company client cash decreased by 13.0% YoY to $2.89 billion. The number of households served rose by 5.6% YoY to 256,078. The company emphasized that this monthly data is supplemental and not a substitute for official financial statements.
February 12, 2024 | 9:44 pm
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AssetMark Financial Holdings, Inc. reported significant growth in platform assets and net flows for January 2024, but a decrease in client cash.
The positive growth in platform assets and net flows indicates strong business performance and could attract investor interest, potentially driving up AMK's stock price in the short term. However, the decrease in client cash could be a point of concern for some investors, but the overall positive growth metrics are likely to have a more significant impact.
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