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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 Asset Management's Q3 2025 Earnings: A Closer Look

Silvercrest Asset Management Group Inc. reported revenue of $31.3 million for the third quarter of 2025, representing a 2.9% year-over-year increase. However, the company's adjusted net income was $2.4 million, or $0.19 per adjusted basic and diluted earnings per share, falling short of analyst estimates of $0.29. Adjusted EBITDA was $4.5 million, or 14.5% of revenue. The company's reported net income attributable to Silvercrest was $0.6 million or $0.07 per basic and diluted Class A share.

Publication Date: Dec -02

📋 Highlights
  • Discretionary AUM Growth:: Increased by $687 million to $24.3 billion, reflecting a 3% sequential and 8% year-over-year growth.
  • Total AUM Record:: Reached $37.6 billion, with nondiscretionary AUM at $13.3 billion, driven by organic and acquisition-driven client accounts.
  • Financial Performance:: Revenue rose 2.9% to $31.3 million YoY, while expenses surged 15.4%, resulting in a net income of $0.6 million ($0.07/share) and adjusted EBITDA of $4.5 million (14.5% of revenue).
  • Share Buyback and Dividend:: $16 million repurchased under a $25 million buyback program, reducing share count by 11%, alongside a $0.21/share dividend declared.
  • OCIO & Growth Initiatives:: OCIO assets reached $2.2 billion with a $70 million new foundation addition; 15 key hires for equity strategy and institutional teams, targeting expansion in Europe, Asia, and domestic wealth markets.

Growth Initiatives and Asset Under Management

The firm is investing heavily in growth initiatives, with a focus on organic new client acquisition and discretionary AUM, which increased $687 million to $24.3 billion, a 3% sequential quarterly increase and an 8% year-over-year increase. Total AUM reached a record $37.6 billion. The company added $46.4 million in organic new client accounts during the quarter and $564 million in new client accounts through the third quarter of 2025.

Outsourced Chief Investment Officer (OCIO) Assets and Hiring

The company's OCIO assets are almost $2.2 billion, with a strong pipeline, and recently added a $70 million new foundation. The OCIO portfolio's performance has been very strong, outperforming its peers. The company made 15 key hires, mostly for its new equity strategy and institutional team, and still plans to make new hires for Europe, Asia, and domestically on the wealth side.

Share Buyback and Dividend

The company has a $25 million buyback program, with approximately $16 million worth of shares repurchased as of the end of the third quarter, and about $8-9 million left for the buyback. A dividend of $0.21 per share of Class A common stock will be paid on December 19, representing a dividend yield of 5.93%.

Valuation and Outlook

With a P/E Ratio of 17.24 and a P/S Ratio of 0.88, the company's valuation appears reasonable. Analysts estimate revenue growth of 9.4% for next year. The company's efforts to enhance offerings, grow visibility, and attract talented professionals are expected to have future benefits, with elevated levels of earnings and EBITDA anticipated in 2027 and 2028. As Richard Hough, a top executive, noted, the company's investments are expected to pay off in the short term, and the global value equity strategy has a large pipeline.

3. NewsRoom

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Silvercrest Asset Management Group Inc. (SAMG) Q3 2025 Earnings Call Transcript

Oct -31

Source: seekingalpha.com

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Silvercrest (SAMG) Misses Q3 Earnings and Revenue Estimates

Oct -30

Source: zacks.com

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Silvercrest Asset Management Group Inc. Reports Q3 2025 Results

Oct -30

Source: globenewswire.com

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Silvercrest Asset Management (SAMG) to Announce Third Quarter 2025 Results and Host Investor Conference Call

Oct -28

Source: globenewswire.com

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Silvercrest Asset Management Group Appoints Nitish Sharma as Head of International Consultant Relations

Sep -08

Source: globenewswire.com

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4 Upcoming Dividend Increases

Sep -04

Source: seekingalpha.com

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Silvercrest (SAMG) Q2 EPS Drops 17%

Aug -02

Source: fool.com

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Silvercrest Asset Management Group Inc. (SAMG) Q2 2025 Earnings Call Transcript

Aug -01

Source: seekingalpha.com

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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Value: 7.8

Growth: 3.8

Quality: 7.3

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Momentum: 3.0

Volatility: 7.0

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Newtek Business Services

A-Score: 6.3/10

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SWK Holdings

A-Score: 6.2/10

Value: 6.6

Growth: 3.6

Quality: 8.3

Yield: 10.0

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BNY Mellon Strategic Municipals

A-Score: 6.1/10

Value: 5.4

Growth: 4.1

Quality: 5.5

Yield: 7.0

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Silvercrest Asset Management Group

A-Score: 5.8/10

Value: 6.5

Growth: 3.0

Quality: 6.4

Yield: 8.0

Momentum: 3.0

Volatility: 7.7

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A-Score: 4.6/10

Value: 2.7

Growth: 6.3

Quality: 7.1

Yield: 0.0

Momentum: 5.0

Volatility: 6.3

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

14.79$

Current Price

14.79$

Potential

-0.00%

Expected Cash-Flows