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Company Overview
Silvercrest Asset Management Group Inc (NASDAQ: SAMG) is an independent, employee-owned investment advisory firm that has built its reputation on decades of wealth management expertise. The firm offers a comprehensive suite of asset management and family office services designed for ultra-high-net-worth families and select institutional investors. Combining traditional client-focused service with advanced portfolio construction and modern risk management techniques, Silvercrest has maintained a business model that is both sophisticated and deeply rooted in personal investment experience.
Core Business Areas and Services
At the heart of Silvercrest's operations is its commitment to offering both traditional investment strategies and alternative investment solutions. For its clients, the firm advises on a range of asset classes including equities, fixed income, and cash, while also incorporating non-traditional investments such as hedge funds, private equity, real estate, and commodities. This diversified approach provides clients with a balanced portfolio that is aligned with their individual risk tolerance and long-term financial goals.
Investment Philosophy and Operational Integrity
Silvercrest's investment philosophy is anchored in a commitment to long-term, risk-adjusted performance rather than chasing short-term market manias. The firm emphasizes the importance of investing in a manner that is consistent with each client's risk tolerance, demonstrating an approach that is both analytical and disciplined. With managing directors who average more than 25 years of wealth management experience, the advisor’s strategy merges classic investment principles with state-of-the-art portfolio construction methods, ensuring that asset allocation and risk management are executed with precision.
Client-Centric Focus and Business Model
A key hallmark of Silvercrest is its client-centric approach, a legacy of the service levels traditionally found in private banking. The firm's business structure, driven by employee ownership, inherently reduces conflicts of interest, thereby providing a measure of trust and integrity in its advisory relationships. This unique structure not only benefits its clients by aligning interests between the firm and its investors, but it also supports a collegial culture where each employee is invested in the success of client portfolios.
Operational Expertise and Global Outreach
Leveraging deep institutional knowledge, Silvercrest integrates a diverse range of financial planning services such as tax planning, partnership accounting, fund administration, and consolidated wealth reporting. The firm also regularly updates its investment capabilities by incorporating global and international equity expertise, thus ensuring a diversified approach that can adapt to changing market conditions. With a robust team that combines decades of experience across various market cycles, Silvercrest stays resilient in both bullish and bearish periods.
Competitive Landscape and Differentiators
Within the competitive landscape of wealth management and asset advisory, Silvercrest stands out through its independent ownership and commitment to client-first service. Unlike many larger organizations, the firm is not encumbered by the typical conflicts of interest, offering a purer form of advisory service that prioritizes the client’s needs over corporate gains. The combination of traditional methodologies with innovative investment strategies means that the firm can effectively navigate both conventional assets and alternative investment avenues while providing comprehensive family office services.
Technology, Research and Risk Management
Silvercrest employs state-of-the-art theories and practices in portfolio construction and risk management. The firm’s continuous investment in technology-backed research ensures that their risk management frameworks are both comprehensive and adaptive to market dynamics. This thoughtful integration of research and technology underpins the firm’s ability to provide a robust, diversified strategy that is methodical and measurable in minimizing risk.
Expertise and Industry Experience
Having a team with decades of cumulative experience, Silvercrest showcases deep industry expertise that spans numerous market cycles. This wealth of experience is reflected in their ability to manage portfolios with an eye for detail and a focus on comprehensive asset diversification. Their seasoned professionals leverage historical insights and current market intelligence to build portfolios that are resilient in a dynamic economic landscape.
Family Office Services and Holistic Advisory
Beyond asset management, Silvercrest extends its expertise to comprehensive family office services. This includes detailed financial planning, tax advisory, administrative coordination, and consolidated wealth reporting, all designed to simplify the management of complex family finances. By offering these additional services, the firm ensures that its clients receive a holistic approach to wealth management that optimally positions them for long-term financial stability.
Summary
In summary, Silvercrest Asset Management Group Inc is characterized by its blend of traditional high-touch service with modern, analytical investment strategies. Its independent, employee-owned structure contributes to a conflict-of-interest-free advisory environment that is both trusted and proven through decades of market performance. With a focus on diversified investment strategies, comprehensive advisory services, and an unwavering commitment to client priorities, Silvercrest maintains a significant position in the wealth management industry. Investors and research analysts can value the firm's expertise, well-defined operational model, and its ability to navigate both broad market cycles and specific investment niches.
- Industry-specific keywords: wealth management, asset management, investment advisory
- Core Competencies: portfolio construction, risk management, family office services
- Management Strength: decades of experience across market cycles
Silvercrest Asset Management Group reported a challenging year-end for December 31, 2022, with a 10.5% decrease in Total AUM to $28.9 billion and a 16.7% decline in Discretionary AUM to $20.9 billion. Revenue fell 6.4% year-over-year to $123.2 million, impacting Adjusted EBITDA which declined to $32 million and Adjusted Diluted EPS to $1.35. Despite these challenges, there was a 7.7% growth in Discretionary AUM in Q4 compared to Q3, and the company reported new client relationships totaling $220 million. The firm maintains a healthy Adjusted EBITDA margin of 26%.
Silvercrest Asset Management Group (NASDAQ: SAMG) will host a teleconference on March 3, 2023, at 8:30 am ET to discuss its fourth quarter and full-year financial results for 2022. The results will be released before U.S. market open. Chairman and CEO Richard R. Hough III, alongside CFO Scott A. Gerard, will present the results followed by a Q&A session for analysts and institutional investors. Participants can join the call by phone or via a live webcast available on the company’s investor relations page. As of September 30, 2022, Silvercrest reported assets under management of $27.4 billion.
Silvercrest Asset Management Group (NASDAQ: SAMG) declared a quarterly dividend of $0.18 per share on February 14, 2023. This dividend will be paid to shareholders of record as of the close of business on March 10, 2023, with a payment date on or about March 17, 2023. Founded in April 2002, Silvercrest is an independent, employee-owned registered investment adviser with approximately $27.4 billion in assets under management as of September 30, 2022. The firm operates multiple offices across the U.S., providing investment advisory and family office services to wealthy families and select institutional investors.
Silvercrest Asset Management Group (SAMG) reported a decrease in discretionary assets under management (AUM) to $19.4 billion as of September 30, 2022, down from $22.5 billion a year earlier. Revenue fell to $29 million from $33.5 million. Despite a healthy Adjusted EBITDA margin of 28.1%, both revenue and total AUM decreased year-over-year. The firm declared a quarterly dividend of $0.18 per share to be paid in December 2022. Market volatility continues to create opportunities, and the firm has added new client relationships despite recent declines.
Silvercrest Asset Management Group (NASDAQ: SAMG) will host a teleconference on November 4, 2022, at 8:30 am ET to discuss its Q3 2022 financial results ending September 30, 2022. The results will be announced before the U.S. equity markets open and will be available on their Investor Relations page. CEO Richard R. Hough III and CFO Scott A. Gerard will review the results, followed by a Q&A session for analysts and institutional investors. Callers can participate by dialing 1-844-836-8743 (domestic) or 1-412-317-5723 (international).
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