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1. Company Snapshot

1.a. Company Description

Silvercrest Asset Management Group Inc., a wealth management firm, provides financial advisory and related family office services in the United States.The company serves ultra-high net worth individuals and families, as well as their trusts; endowments; foundations; and other institutional investors.It also manages funds of funds and other investment funds.


The company was founded in 2002 and is headquartered in New York, New York.

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1.b. Last Insights on SAMG

Silvercrest Asset Management Group Inc.'s recent performance was driven by several positive factors. The company's Q3 2024 earnings release showed a strong performance, with the management team highlighting the growth in assets under management (AUM) and the expansion of its investment strategies. Additionally, the company announced a new partnership with Australia's Construction and Building Unions Superannuation Fund, which will provide an initial seed investment of $1.3 billion USD to launch its Global Value Opportunity Equity Strategy. Furthermore, the company promoted five new partners, including Kate Burns, Lorena Cardenas, Ted Moore, Judy Morrill, and Carolin Newland, demonstrating its commitment to growth and talent development.

1.c. Company Highlights

2. Silvercrest Navigates Growth Amid Short‑Term Hit

Silvercrest Asset Management Group reported a Q4 EPS of $0.18, shy of the consensus $0.21, reflecting the impact of strategic investments that have compressed short‑term earnings. Revenue is expected to climb 11.4% next year, while adjusted EBITDA fell as the firm fronts costs for new growth initiatives (Hough, 2025). The stock trades at a modest P/E of 21.61 and a P/B of 2.1, indicating a relatively conservative valuation for a growth‑oriented asset manager.

Publication Date: Apr -10

📋 Highlights
  • Q4 Discretionary AUM Decline:: Fell 1.2% to $24 billion in Q4, despite 3% annual growth to $24 billion for 2025.
  • Organic Client Growth:: Added $124.5M in new client accounts in Q4, totaling $688.3M for the full year.
  • Strategic Investments Impact:: Short-term lower earnings/EBITDA due to long-term growth-focused investments in international equity strategies.
  • Elevated Compensation Ratio:: 2025 recurring cash comp ratio at 67%, above historical 54-55% and industry norms, driven by hiring.
  • EU Regulatory Progress:: Nearing completion of a UCITS vehicle, with EU regulatory approval expected by Q2 2026.

Revenue and Margin

Although the call did not disclose exact revenue figures, management highlighted a 3% rise in total discretionary AUM to $24 billion for the year, suggesting a corresponding lift in fee income. The firm’s adjusted EBITDA dipped in Q4 due to upfront spending on strategic hires and product development, a trade‑off management says will pay off as new revenue streams mature.

Client Growth

Organic new client accounts added $124.5 million in Q4, topping a full‑year inflow of $688.3 million. This client acquisition momentum underpins the 3% AUM growth and signals robust demand for Silvercrest’s international equity strategies, which have become a key driver of the firm’s pipeline.

Strategic Investments

Chairman Rick Hough underscored that capital deployed into technology, talent, and product innovation is expected to generate long‑term value, even as it suppresses near‑term earnings. The firm plans to evaluate the effectiveness of these investments quarterly, with the expectation that incremental revenue will offset the initial expense load.

International Expansion

Silvercrest has bolstered its institutional footprint with new teams in London and Australia and is close to launching a UCITS vehicle in Europe. Pending regulatory approval in Q2, the firm anticipates a new revenue stream that will diversify its client base and reduce concentration risk.

Compensation & Buybacks

The compensation ratio is projected to stay above 60% in 2025, reflecting ongoing hiring and retention costs. Management remains open to additional buybacks, but will also issue equity awards to align employee incentives with long‑term shareholder value.

Valuation Snapshot

With a P/E of 21.61, a P/B of 2.1, and a dividend yield of 6.31%, Silvercrest trades at a valuation that is modestly above its historical range of 54–55% revenue‑based compensation. The firm’s free‑cash‑flow yield of 14.01% and ROIC of 4.09% suggest it has room to generate shareholder value as its growth initiatives take hold.

3. NewsRoom

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Silvercrest Asset Management Group Inc. (SAMG) Q4 2025 Earnings Call Transcript

Mar -17

Source: seekingalpha.com

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Silvercrest (SAMG) Lags Q4 Earnings Estimates

Mar -16

Source: zacks.com

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Silvercrest Asset Management Group Inc. Reports Q4 and Year-End 2025 Results

Mar -16

Source: globenewswire.com

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Silvercrest Asset Management (SAMG) to Announce Fourth Quarter and Year-End 2025 Results and Host Investor Conference Call

Mar -13

Source: globenewswire.com

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Silvercrest Expands Presence in Asia Pacific With Senior Appointment and Fund Launch in Australia

Mar -03

Source: globenewswire.com

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Silvercrest Asset Management Group (NASDAQ:SAMG) Stock Price Crosses Above 50-Day Moving Average – Here’s Why

Feb -24

Source: defenseworld.net

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Silvercrest Asset Management Group Inc. Announces Quarterly Dividend

Feb -05

Source: globenewswire.com

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Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) Sees Large Growth in Short Interest

Feb -05

Source: defenseworld.net

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (6.54%)

6. Segments

Management and Advisory Fees

Expected Growth: 6.5%

Silvercrest Asset Management Group Inc.'s 6.5% growth in Management and Advisory Fees is driven by increasing assets under management (AUM) from new client acquisitions and existing client asset growth, as well as expansion into new markets and services, such as outsourced chief investment officer (OCIO) solutions and wealth management services.

Family Office Services

Expected Growth: 7.5%

Silvercrest Asset Management Group Inc.'s Family Office Services growth of 7.5% is driven by increasing demand for wealth management, tax planning, and estate planning services among high-net-worth individuals and families. Additionally, the company's expertise in investment management, financial planning, and philanthropic advisory services contributes to its growth.

7. Detailed Products

Wealth Management

Comprehensive investment management services tailored to high net worth individuals, families, and institutions

Institutional Asset Management

Customized investment solutions for institutional clients, including pension funds, endowments, and foundations

Alternative Investments

Access to alternative investment opportunities, including private equity, real assets, and hedge funds

Family Office Services

Comprehensive wealth management and advisory services for ultra-high net worth families

Impact Investing

Investment strategies focused on environmental, social, and governance (ESG) considerations

8. Silvercrest Asset Management Group Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Silvercrest Asset Management Group Inc. operates in a highly competitive industry, and there are many substitutes available to clients. However, the company's strong brand reputation and high-quality services help to mitigate the threat of substitutes.

Bargaining Power Of Customers

Silvercrest Asset Management Group Inc. has a diverse client base, which reduces the bargaining power of individual customers. Additionally, the company's high-quality services and strong relationships with clients help to reduce the bargaining power of customers.

Bargaining Power Of Suppliers

Silvercrest Asset Management Group Inc. is not heavily dependent on a few suppliers, and the company has a diverse range of suppliers. This reduces the bargaining power of suppliers.

Threat Of New Entrants

The asset management industry has high barriers to entry, including regulatory requirements and the need for significant capital investment. However, new entrants can still pose a threat to Silvercrest Asset Management Group Inc. if they are able to differentiate themselves and offer innovative services.

Intensity Of Rivalry

The asset management industry is highly competitive, with many established players competing for market share. Silvercrest Asset Management Group Inc. faces intense competition from other asset managers, which can make it difficult to attract and retain clients.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 10.14%
Debt Cost 3.95%
Equity Weight 89.86%
Equity Cost 8.32%
WACC 7.87%
Leverage 11.29%

11. Quality Control: Silvercrest Asset Management Group Inc. passed 6 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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SWK Holdings

A-Score: 7.4/10

Value: 6.8

Growth: 3.6

Quality: 8.3

Yield: 10.0

Momentum: 8.5

Volatility: 7.0

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Investcorp Credit Management BDC

A-Score: 6.6/10

Value: 8.2

Growth: 3.8

Quality: 7.3

Yield: 10.0

Momentum: 3.5

Volatility: 7.0

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Newtek Business Services

A-Score: 6.1/10

Value: 7.8

Growth: 4.2

Quality: 5.9

Yield: 10.0

Momentum: 2.5

Volatility: 6.0

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BNY Mellon Strategic Municipals

A-Score: 5.9/10

Value: 5.8

Growth: 1.6

Quality: 4.9

Yield: 7.0

Momentum: 6.0

Volatility: 10.0

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Silvercrest Asset Management Group

A-Score: 5.6/10

Value: 6.6

Growth: 3.0

Quality: 6.1

Yield: 8.0

Momentum: 2.5

Volatility: 7.7

1-Year Total Return ->

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BrightSphere

A-Score: 4.3/10

Value: 4.7

Growth: 6.3

Quality: 7.1

Yield: 0.0

Momentum: 4.5

Volatility: 3.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

13.6$

Current Price

13.6$

Potential

-0.00%

Expected Cash-Flows