Skip to main content

AssetMark Deepens Commitment to ESG with Sustainability-Linked Loan

Written by Customer Service on . Posted in Public Companies.

CONCORD, Calif., Nov. 15, 2022 (GLOBE NEWSWIRE) — AssetMark Financial Holdings, Inc, a leading wealth management platform for financial advisors, today underscored its commitment to environmental, social and governance (ESG) practices in announcing it has entered into a sustainability linked financing agreement. The deal is an amendment to the previously announced credit facility commitment, converting AssetMark’s $500 million corporate revolving credit facility into a Sustainability-Linked Loan.

The arrangement introduces a margin adjustment incentive mechanism tied to three of the firm’s Sustainability Accounting Standards Board-aligned ESG objectives:

  • Increasing the proportion of diverse new hires;
  • Providing ESG training to advisors using its platform; and
  • Expanding the number of ESG investment strategists offered on the AssetMark platform (in alignment with a predefined ESG criteria).

Beginning in 2023, the firm can save up to 5 bps on its cost of borrowing by meeting key performance indicators established for each of the above ESG priorities.

“Central to AssetMark’s mission is making a difference – in the lives of our advisors and their clients, in the communities in which we live and work, and in the world more broadly,” said Gary Zyla, Chief Financial Officer of AssetMark. “As we deepen our commitment to transparency and responsible corporate citizenship, this sustainability-linked facility is a meaningful way to measure our progress against our ESG goals in alignment with our financing plans.”

This announcement follows AssetMark’s launch of a Values-Driven Investing program earlier in the year, as well as the release of its inaugural ESG Report.

About AssetMark Financial Holdings, Inc.
AssetMark is a leading provider of extensive wealth management and technology solutions that power independent financial advisors and their clients. Through AssetMark, Inc., its investment advisor subsidiary registered with the Securities and Exchange Commission, AssetMark operates a platform that comprises fully integrated technology, personalized and scalable service and curated investment platform solutions designed to make a difference in the lives of advisors and their clients. AssetMark had $79.4 billion in platform assets as of September 30, 2022 and has a history of innovation spanning more than 20 years.

Media Contact:
Alaina Kleinman
Director, Communications & Public Relations, AssetMark, Inc.
alaina.kleinman@assetmark.com

Investors:
Taylor J. Hamilton, CFA
Head of Investor Relations
InvestorRelations@assetmark.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.