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assetmark 2020
Financial & Operating Highlights:

FINANCIAL HIGHLIGHTS

For the year ended December 31, 2020 2019 2018 2017
($ in millions, except per share amounts)
Total Revenue $ 432.1 $ 417.9 $ 363.6 $ 295.5
Net Revenue $ 296.7 $ 286.9 $ 245.2 $ 196.0
Adj. EBITDA $ 115.0 $ 109.9 $ 88.9 $ 58.9
Adj. EBITDA Margin 26.6 % 26.3 % 24.5 % 19.9 %
Adj. Net Income $ 73.2 $ 66.5 $ 60.8 $ 34.3
Adj. Net Income Margin 16.9 % 15.9 % 16.7 % 11.6 %
Diluted EPS $ 1.02 $ 0.96 $ 0.92 $ 0.52

OPERATIONAL HIGHLIGHTS

For the year ended December 31, 2020 2019 2018 2017
($ in millions)
Platform assets (at period beginning) $ 61,608 $ 44,855 $ 42,385 $ 32,251
Net flows $ 5,483 $ 5,389 $ 5,916 $ 5,863
Market impact net of fees $ 5,369 $ 7,575 $ (3,446) $ 4,271
Acquisition impact 2,060 3,789 – –
Platform assets (at period end) $ 74,520 $ 61,608 $ 44,855 $ 42,385
Net flows lift (% of beginning-of-year platform assets) 8.9% 12.0% 14.0% 18.2%
Advisors (at period end) $ 8,454 $ 7,958 $ 7,573 $ 7,183
Engaged advisors (at period end) 2,536 2,230 1,837 1,743
Assets from engaged advisors (at period end) 67,300 54,853 38,495 36,372
Households (at period end) 186,602 162,225 133,947 114,377
New producing advisors 743 894 910 911
Production lift from existing advisors 1990.0% 24.4% 22.1% 27.6%
Assets in custody at ATC (at period end) 53,878 43,393 31,767 28,422
ATC client cash (at period end) 2,618 1,876 1,612 1,146

assetmark 2020
key facts & figures:

$74.5B PLATFORM ASSETS1
$432.1M 2020 REVENUE2
99% OF TOTAL REVENUE IS
RECURRING IN NATURE
$115.0M 2020 ADJUSTED EBITDA2
26.6% ADJUSTED EBITDA MARGIN3
$73.2M 2020 ADJUSTED NET INCOME2
PLATFORM ASSETS1 ($ in billions)
$42.4 2017 Platform Assets Net Flows as % of beginning of yearplatform assets 2018 2019 $44.9 $61.6 $74.5 2020 8.9% 12.0% 14.0% 18.2%
Adjusted EBITDA ($ in millions)
Adjusted EBITDAAdjusted EBITDA Margin 2017201820192020$59.9$88.9$109.0$115.026.6%26.3%24.5%19.9%
Diluted EPS
Diluted EPS2017201820192020$0.96$0.92$1.02$0.52

1 As of December 31, 2020.

2 For the year ended December 31, 2020.

3 For the year ended December 31, 2020. See Prospectus summary—Summary consolidated financial and other data for the definition of adjusted EBITDA margin and a reconciliation of net income margin to adjusted EBITDA margin.