CONCORD, Calif., Nov. 15, 2022 (GLOBE NEWSWIRE) — AssetMark Financial Holdings, Inc., the leading wealth management platform for financial advisors, today emphasizes its commitment to environmental, social and governance (ESG) practices and into sustainability-linked financing agreements. The transaction is an amendment to a previously announced credit facility commitment that converts AssetMark’s $500 million corporate revolving credit facility into a sustainability-linked loan.
The arrangement introduces a margin adjustment incentive mechanism related to three of the company’s Sustainability Accounting Standards Board ESG targets.
- Increase the proportion of diverse new hires.
- We use our platform to provide ESG training to our advisors.When
- Expand the number of ESG investment strategists offered on the AssetMark platform (along with pre-defined ESG criteria).
From 2023 onwards, the company can save up to 5 bps on borrowing costs by meeting established key performance indicators for each of the above ESG priorities.
AssetMark Chief Financial Officer Gary Zyla said: “As we deepen our commitment to transparency and responsible citizenship, this sustainability-related facility is a meaningful way to measure progress against his ESG goals in line with our fundraising plan.”
The announcement follows AssetMark’s launch of its value-driven investment program earlier this year and the release of its first ESG report.
About Assetmark Financial Holdings
AssetMark is a leading provider of a wide range of wealth management and technology solutions that empower independent financial advisors and their clients. Through AssetMark, Inc., an investment advisory subsidiary registered with the Securities and Exchange Commission, AssetMark provides fully integrated technology, personalized and scalable services, and solutions that transform the lives of advisors and their clients. We operate a platform that includes a curated portfolio of engineered investment platform solutions. AssetMark has $79.4 billion in platform assets as of September 30, 2022 and a history of innovation spanning more than 20 years.
Media contact:
Alaina Kleinman
Director of Communications and Public Relations, AssetMark, Inc.
alaina.kleinman@assetmark.com
Investor:
Taylor J. Hamilton, CFA
Head of Investor Relations
InvestorRelations@assetmark.com
