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Silvercrest Asset Management Group Inc. (NASDAQ: SAMG) is a premier, independent, employee-owned, registered investment advisor offering top-tier asset management and family office services to affluent families and select institutional investors. Founded in 2002, Silvercrest distinguishes itself by blending client-focused services reminiscent of traditional private banks with cutting-edge portfolio construction, risk management, and diversification strategies.
With a team of seasoned professionals averaging over 25 years of wealth management experience, Silvercrest has adeptly navigated clients through various market cycles. The firm ensures that client assets are invested in alignment with their risk tolerance, free from the conflicts of interest that often beset larger organizations.
Silvercrest provides comprehensive financial advisory services, including traditional investment strategies focusing on equities, fixed income, and cash, as well as non-traditional strategies like hedge funds, private equity, real estate, and commodities. In addition, the firm offers family office services encompassing financial planning, tax planning and preparation, partnership accounting, fund administration, and consolidated wealth reporting.
As of the latest updates, Silvercrest concluded the second quarter of 2023 with Total Assets Under Management (AUM) of $31.9 billion and Discretionary AUM of $21.5 billion. Despite a 9.9% decrease in revenue for the first half of 2023 compared to 2022, the firm maintains a historically healthy Adjusted EBITDA Margin of 27.5%, highlighting its resilience and efficiency. The company recently declared a quarterly dividend of $0.19 per share, demonstrating its commitment to returning value to shareholders.
Silvercrest continues to explore robust new business opportunities and is investing strategically to drive future growth. The firm remains committed to delivering exceptional client service while leveraging its extensive expertise to navigate the complexities of global markets.
For more information, visit Silvercrest's official website and stay updated with the latest developments.
Silvercrest Asset Management Group (SAMG) reported Q3 2024 financial results with total Assets Under Management (AUM) reaching $35.1 billion, including $22.6 billion in discretionary AUM. Revenue increased 2.4% to $30.4 million compared to Q3 2023. However, net income decreased to $3.7 million from $5.4 million year-over-year, with margins declining to 12.3% from 18.1%. The company's discretionary AUM grew 10.2% year-over-year, driven by $4.1 billion in market appreciation, partially offset by $2.0 billion in net client outflows. The Board approved a quarterly dividend of $0.20 per share of Class A common stock.
Silvercrest Asset Management Group (NASDAQ: SAMG) has scheduled a teleconference for November 1, 2024, at 8:30 am Eastern Time to discuss their third quarter 2024 financial results. The results will be released before U.S. markets open. Chairman, CEO and President Richard R. Hough III and CFO Scott A. Gerard will present the quarterly results and host a Q&A session for analysts and institutional investors. The call can be accessed by dialing 1-844-836-8743 (domestic) or 1-412-317-5723 (international), with a live webcast available on the company's investor relations website.
Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) has announced the appointment of Chip Kelleher as Managing Director, who will lead the firm's expansion in the southern market by opening a new office in Atlanta, Georgia. Kelleher brings extensive experience in asset management and a strong network in the financial industry. The Atlanta office will serve as a key hub for Silvercrest's operations, offering comprehensive asset management and advisory services.
This expansion follows the success of Silvercrest's fast-growing Richmond, VA, office and aims to strengthen the firm's regional presence. The new office will provide a full suite of investment management services, including customized portfolio strategies and comprehensive financial planning, catering to the evolving needs of clients across diverse geographic regions.
Silvercrest Asset Management Group Inc. (NASDAQ: SAMG) has announced a $12 million common stock repurchase program authorized by its Board of Directors. The program allows the company to buy back up to $12 million worth of its Class A common stock over the next 12 months, subject to market conditions. Repurchases may be made in the open market at prices deemed appropriate by the company. The program is flexible, with no obligation to repurchase any specific amount or number of shares, and can be suspended or discontinued at any time. This move demonstrates Silvercrest's confidence in its financial position and commitment to enhancing shareholder value.
Silvercrest Asset Management Group Inc. (NASDAQ: SAMG) reported Q2 2024 results with total Assets Under Management (AUM) of $33.4 billion, including discretionary AUM of $21.6 billion. Revenue increased 4.2% year-over-year to $31.0 million. GAAP net income was $4.4 million, with earnings per share of $0.28. Adjusted EBITDA was $7.2 million, representing a 23.3% margin.
The company faced challenges with narrow market leadership and declining AUM in certain segments. However, Silvercrest's U.S. Value and Small Cap Growth strategies performed well relatively. The company is investing in future growth, including hiring a new global equity investment team and a business development professional for the Southeast region.
Silvercrest's Board approved a 5% increase in quarterly dividend to $0.20 per share of Class A common stock. The company's pipeline of new institutional business opportunities decreased to $1.0 billion but remains up from Q4 2023.
Silvercrest Asset Management Group Inc. (NASDAQ: SAMG) has announced it will host a teleconference on August 2, 2024, at 8:30 am Eastern Time to discuss its financial results for the second quarter ended June 30, 2024. The company will release its financial results before the U.S. equity markets open on the same day. The news release will be available on the company's investor relations website.
Chairman, CEO, and President Richard R. Hough III, along with CFO Scott A. Gerard, will review the quarterly results during the call. Following the prepared remarks, there will be a Q&A session for analysts and institutional investors. The call can be accessed by dialing 1-844-836-8743 (U.S.) or 1-412-317-5723 (international). A live webcast will also be available on the company's website.
Silvercrest Asset Management Group Inc. reported Q1 2024 results, showing positive growth in Discretionary Assets Under Management, Total AUM, and revenue. The company is focusing on new opportunities, investments, and international expansion. While revenue increased, higher expenses impacted most metrics, with a noticeable rise in compensation expenses. Despite challenges, Silvercrest's pipeline of new institutional business opportunities doubled, positioning the firm for positive flows. The company declared a dividend, indicating confidence in its financial position.
Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) has expanded its international and global equity capability by hiring Rehan Chaudhri, James A. Dunn, Jr., Ken Dennig, and Robert Gondolfo. The team will enhance the firm's investment capabilities and global outreach with their Global Equity Strategy, providing comprehensive offerings to families and institutional investors. Rehan Chaudhri and his team bring significant investment expertise and experience managing equity mandates for large institutions worldwide. Chaudhri, a Managing Director and Lead Portfolio Manager, has a proven track record in global and international value equity markets. James A. Dunn, Jr., a Managing Director, brings over 25 years of professional investing experience. Ken Dennig, a former partner at Altrinsic Global Advisors, has over 20 years of investment experience. Robert Gondolfo, a Senior Vice President, brings expertise in process improvement initiatives and back-office operations.
Silvercrest Asset Management Group Inc. (SAMG) will host a teleconference on May 3, 2024, to discuss the financial results for the first quarter ended March 31, 2024. Chairman Richard R. Hough III and CFO Scott A. Gerard will review the results, followed by a Q&A session for analysts and investors.
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