Company Overview - Silvercrest Asset Management Group has appointed Van Martin as Head of U.S. Consultant Relations, aiming to enhance partnerships with institutional investors and expand its institutional business in the U.S. [1] - As of March 31, 2025, Silvercrest reported assets under management totaling $34.3 billion [5]. Leadership and Experience - Van Martin has been with Silvercrest since 2014 and has played a key role in expanding the firm's intermediary and institutional client base [2]. - Martin has over a decade of experience and a strong understanding of Silvercrest's U.S.-based investment capabilities [2]. - Allen Gray, Global Head of Silvercrest's Institutional Business, expressed pride in Martin's contributions and his collaboration with U.S.-focused equity investment teams over the past 11 years [3]. Strategic Goals - Martin aims to strengthen relationships with clients and partners while building on Silvercrest's legacy of delivering exceptional client experiences through high-quality expertise [4]. - The team will leverage their combined experience and market knowledge to optimize consultant and client activities for the best outcomes for institutional clients [3].

Financial Data and Key Metrics Changes - The company experienced strong new client organic flows of $400 million in Q1 2025, following $1.4 billion in Q4 2024, totaling $1.8 billion over the past two quarters [4] - Total Assets Under Management (AUM) declined to $34.3 billion, with discretionary AUM flat year-over-year at $22.7 billion [5][9] - Revenue for the quarter was $31.4 million, a year-over-year increase of $1.1 million or 3.7%, primarily driven by market appreciation [9] - Reported net income for the quarter was approximately $3.9 million, translating to $0.26 per Class A share [10] - Total assets decreased from approximately $194.4 million at the end of 2024 to $159.9 million as of March 31, 2025 [11] Business Line Data and Key Metrics Changes - The company noted a robust new business pipeline, particularly in Global Value strategies, with significant potential for future investments [20] - The OCIO pipeline has slowed, but there is optimism for future flows as the company builds relationships with consultants [20][22] Market Data and Key Metrics Changes - The company acknowledged that market volatility has affected short-term results and top-line revenue, but also presents opportunities for growth [5][22] - The search environment has been impacted by global macroeconomic conditions, leading to a period of hesitation in client allocations [22][66] Company Strategy and Development Direction - The company plans to continue pursuing initiatives to enhance its presence in both institutional and wealth markets, investing in talent to drive growth [5][6] - A European entity is being established to allow proactive marketing, with expectations to be fully licensed within the next 6 to 10 months [38][39] - The company is also expanding its presence in Southeast Asia, particularly in Singapore, to capitalize on growth opportunities [40][41] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the organic growth picture despite short-term market challenges, emphasizing the importance of patience in the investment process [22][60] - The company expects to see increasing margins year-over-year, particularly as markets stabilize and trade deals potentially materialize [61][62] - Management noted that the majority of assets are U.S.-based, mitigating concerns about international investors pulling capital from the U.S. [70] Other Important Information - The company completed a $12 million stock repurchase program and plans to evaluate further buyback opportunities [6][28] - A quarterly dividend of $0.20 per share was declared, to be paid in June [7] Q&A Session Summary Question: Comments on the pipeline and future outlook for OCIO and Global - Management noted a shift in the search environment towards cultivating consultant relationships rather than traditional RFPs, expressing confidence in the pipeline for Global Value strategies [15][20] Question: Update on investment performance and buyback details - Performance has been strong, with good absolute and relative results despite market volatility. The buyback program was completed successfully, with plans for future evaluations [25][28] Question: Insights on global expansion in Europe and Singapore - The company is establishing a European entity for proactive marketing and has a fully licensed presence in Singapore, with ongoing efforts to build relationships and attract AUM [36][40] Question: Discussion on expenses and operating leverage - Management emphasized a long-term focus on operating leverage, with expectations for increasing margins as markets stabilize and investments yield results [52][61] Question: Impact of international capital movements on the company - Management indicated that the majority of assets are U.S.-based, and the company has global strategies that can absorb any shifts in capital flows [70]

Financial Data and Key Metrics Changes - Strong new client organic flows of $400 million during Q1 2025, following $1.4 billion in Q4 2024, totaling $1.8 billion over the past two quarters [4] - Total AUM declined to $34.3 billion, with discretionary AUM flat year over year at $22.7 billion [5][9] - Revenue for the quarter was $31.4 million, a year-over-year increase of $1.1 million or 3.7% [9] - Reported net income for the quarter was approximately $3.9 million, or $0.26 per Class A share [10] Business Line Data and Key Metrics Changes - The firm experienced strong performance in its Global Value strategy, with significant contacts and potential for large investments in 2025 [20][21] - OCIO pipeline has slowed, but there is optimism for future flows [20] Market Data and Key Metrics Changes - Market volatility affected AUM, with a noted pullback due to global economic and trade concerns [5][22] - The firm is optimistic about the medium to long-term outlook despite short-term market challenges [24] Company Strategy and Development Direction - The company plans to continue pursuing initiatives to enhance visibility in institutional and wealth markets [5] - Investments in talent and infrastructure are ongoing to support growth and transition to the next generation of business [5][6] - A European entity is being established to allow proactive marketing in Europe, with a focus on building relationships and expanding presence [38][39] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about organic growth despite current market volatility and uncertainty [22][24] - The firm is focused on long-term growth strategies and expects to see increasing margins year over year [61][62] - Management acknowledges potential short-term headwinds due to tax outflows and market conditions [66] Other Important Information - A $12 million stock repurchase program was completed, with plans to evaluate future buybacks [6][28] - A quarterly dividend of $0.20 per share was declared, to be paid in June [7] Q&A Session Summary Question: Comments on the pipeline and future outlook for OCIO and Global - Management noted a shift in the search environment towards cultivating consultant relationships rather than traditional RFPs, expressing confidence in the pipeline for Global Value [15][20] Question: Update on investment performance in the global area - Performance has been outstanding, with strong absolute and relative results despite market volatility [26] Question: Details on the stock buyback program - The buyback program was completed successfully, with management expressing satisfaction with the execution [28] Question: Update on global expansion in Europe and Singapore - Management highlighted ongoing efforts to establish a European entity for proactive marketing and noted strong opportunities in Southeast Asia [38][40] Question: Discussion on expenses and operating leverage - Management emphasized a long-term focus on achieving operating leverage and expects to see progress year over year [61][62] Question: Impact of international investors pulling capital from the U.S. - Management indicated that the majority of assets are U.S.-based, and the firm has global strategies to mitigate potential impacts [68][71]

Financial Data and Key Metrics Changes - The company experienced strong new client organic flows of $400 million in Q1 2025, following $1.4 billion in Q4 2024, totaling $1.8 billion over the past two quarters [4] - Total Assets under Management (AUM) was $34.3 billion, with discretionary AUM at $22.7 billion, remaining flat year over year [5][8] - Revenue for the quarter was $31.4 million, an increase of $1.1 million or 3.7% year over year, primarily driven by market appreciation [8] - Reported net income for the quarter was approximately $3.9 million, translating to $0.26 per Class A share [10] - Total assets decreased from $194.4 million at the end of 2024 to approximately $159.9 million as of March 31, 2025 [11] Business Line Data and Key Metrics Changes - The company noted a robust new business pipeline, particularly in Global Value strategies, with significant potential for future growth [19] - The OCIO pipeline has slowed, but there is optimism for future flows as the company builds relationships with consultants [19][20] Market Data and Key Metrics Changes - The company is expanding its presence in Europe and Southeast Asia, with a focus on building relationships and establishing a proactive marketing strategy [36][39] - The firm is working on obtaining a European license to market its services more effectively [36] Company Strategy and Development Direction - The company plans to continue investing in talent and initiatives to enhance its presence in institutional and wealth markets [5] - A $12 million stock repurchase program was completed, indicating a commitment to returning capital to shareholders while investing in growth [6][28] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about securing more significant organic flows throughout 2025 despite short-term market volatility affecting results [5][21] - The company is navigating a period of hesitation in the search environment due to global macroeconomic uncertainties, but remains confident in long-term growth prospects [22][63] Other Important Information - A quarterly dividend of $0.20 per share was declared, to be paid on or about June 20, 2025 [7] - The company is focused on maintaining a healthy balance sheet to support ongoing capital returns and growth initiatives [6] Q&A Session Summary Question: Could you comment on the pipeline and what you're seeing for OCI as well as Global going forward? - Management noted that the nature of searches has changed, focusing on cultivating consultant relationships rather than traditional RFPs, and expressed confidence in the pipeline for Global Value strategies [15][16] Question: How are things in Europe and Singapore regarding AUM? - Management highlighted strong relationships in Europe and ongoing efforts to establish a proactive marketing presence, with a focus on regulatory compliance [34][36] Question: Can you share any color on potentially a new buyback? - Management indicated that they are seriously considering another buyback, emphasizing the importance of returning capital to shareholders while investing in growth [42][43] Question: How do you view the operating leverage and timing of revenue versus expenses? - Management acknowledged the challenges of achieving operating leverage in the current environment but expressed optimism about long-term growth and increasing margins [56][58] Question: Is the trend of international investors pulling capital from the U.S. a concern for Silvercrest? - Management stated that the majority of their assets are U.S.-based and expressed confidence in their global strategies to mitigate any potential impacts [65][67]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission file number: 001-35733 Silvercrest Asset Management Group Inc. (Exact name of registrant as specified in its charter) Securities registered purs ...

[Q1 2025 Financial Highlights and Business Update](index=1&type=section&id=Silvercrest%20Asset%20Management%20Group%20Inc.%20Reports%20Q1%202025%20Results) Silvercrest reported strong Q1 2025 new client inflows and continued capital returns, despite a market-driven AUM decline, with key financial metrics detailed [Business Update](index=1&type=section&id=Business%20Update) Silvercrest achieved strong new client inflows and returned capital to shareholders, despite a market-driven decline in total AUM, while investing in strategic growth initiatives - Experienced strong new client organic flows of **$0.4 billion** during Q1 2025, following significant flows of **$1.4 billion** in Q4 2024[3](index=3&type=chunk) - Total AUM declined during the quarter due to market volatility, with discretionary AUM at **$22.7 billion** (flat year-over-year) and total AUM at **$35.3 billion**[4](index=4&type=chunk) - Completed a **$12.0 million** stock repurchase program and the Board of Directors declared a quarterly dividend of **$0.20 per share**[7](index=7&type=chunk)[8](index=8&type=chunk) - Strategic focus includes investing in talent to drive new growth and pursuing initiatives to enhance the company's profile in institutional and wealth markets[5](index=5&type=chunk) [First Quarter 2025 Highlights](index=1&type=section&id=First%20Quarter%202025%20Highlights) Q1 2025 highlights include **$35.3 billion** in total AUM, **$31.4 million** revenue, **$3.9 million** GAAP net income, and **$0.26** GAAP diluted EPS Q1 2025 Key Metrics | Metric | Value | | :--- | :--- | | Total AUM | $35.3 billion | | Discretionary AUM | $22.7 billion | | Non-discretionary AUM | $12.6 billion | | Revenue | $31.4 million | | GAAP Consolidated Net Income | $3.9 million | | GAAP Basic and Diluted EPS | $0.26 | | Adjusted EBITDA | $6.5 million | | Adjusted Net Income | $3.9 million | | Adjusted Diluted EPS | $0.27 | [Financial Performance Analysis](index=3&type=section&id=Financial%20Performance%20Analysis) This section analyzes Q1 2025 financial performance, detailing revenue and expense trends, profitability metrics, and the company's liquidity position [Summary of Financial Results (Q1 2025 vs Q1 2024)](index=3&type=section&id=Summary%20of%20Financial%20Results%20%28Q1%202025%20vs%20Q1%202024%29) Q1 2025 revenue grew **3.7%** to **$31.4 million**, but net income and Adjusted EBITDA declined due to a **9.0%** increase in total expenses, compressing margins Financial Comparison (Q1 2025 vs Q1 2024) | Metric (in thousands, except percentages) | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Revenue | $31,392 | $30,272 | | Net Income | $3,928 | $4,915 | | Net Income Margin | 12.5% | 16.2% | | Adjusted EBITDA | $6,497 | $7,453 | | Adjusted EBITDA Margin | 20.7% | 24.6% | | Adjusted Net Income | $3,894 | $4,718 | | Assets Under Management (billions) | $35.3 | $34.5 | [Revenue and Expense Analysis](index=3&type=section&id=Revenue%20and%20Expense%20Analysis) Q1 2025 revenue increased **3.7%** to **$31.4 million** due to market appreciation, while total expenses rose **9.0%** to **$26.6 million**, driven by higher compensation and administrative costs - Revenue increased by **3.7% YoY** to **$31.4 million**, driven by market appreciation over the twelve-month period[14](index=14&type=chunk) - Total expenses increased by **9.0% YoY** to **$26.6 million**[15](index=15&type=chunk) - Compensation and benefits expense rose **6.9%** due to merit-based salary increases, while general and administrative expenses grew **14.6%** from higher professional fees, portfolio systems expense, and other operational costs[15](index=15&type=chunk) [Profitability Analysis](index=5&type=section&id=Profitability%20Analysis) Q1 2025 profitability declined, with consolidated net income at **$3.9 million** and Adjusted EBITDA at **$6.5 million** (margin **20.7%**), leading to an Adjusted Diluted EPS of **$0.27** Profitability Metrics Comparison (Q1 2025 vs Q1 2024) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Consolidated Net Income | $3.9 million | $4.9 million | | Adjusted EBITDA | $6.5 million | $7.5 million | | Adjusted EBITDA Margin | 20.7% | 24.6% | | Adjusted Net Income | $3.9 million | $4.7 million (from Exhibit 3) | | Adjusted Diluted EPS | $0.27 | $0.33 (from Exhibit 3) | [Liquidity and Capital Resources](index=5&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2025, Silvercrest reported **$36.3 million** in cash and equivalents and **$81.0 million** in total equity, with no outstanding debt, though cash decreased from year-end 2024 - Cash and cash equivalents stood at **$36.3 million** at March 31, 2025, a decrease from **$68.6 million** at December 31, 2024[18](index=18&type=chunk) - The company had no outstanding balance on its term loan or revolving credit facility with City National Bank[18](index=18&type=chunk) - Total equity attributable to Silvercrest Asset Management Group Inc. was **$81.0 million** at the end of the quarter[19](index=19&type=chunk) [Assets Under Management (AUM) Analysis](index=3&type=section&id=Assets%20Under%20Management%20%28AUM%29%20Analysis) This section provides a detailed analysis of Assets Under Management (AUM), including total, discretionary, and non-discretionary AUM, and their roll-forward changes [AUM Overview](index=3&type=section&id=AUM%20Overview) As of March 31, 2025, total AUM reached **$35.3 billion**, up **2.3%** YoY but down **3.3%** QoQ due to market depreciation, with discretionary AUM remaining flat YoY - Total AUM increased **2.3% YoY** to **$35.3 billion**, primarily due to **$0.8 billion** in market appreciation[12](index=12&type=chunk) - Total AUM decreased **3.3% QoQ** from **$36.5 billion**, driven by market depreciation of **$1.4 billion**, partially offset by net client inflows of **$0.2 billion**[13](index=13&type=chunk) - Discretionary AUM was flat YoY at **$22.7 billion** and decreased **2.6% QoQ** from **$23.3 billion**[12](index=12&type=chunk)[13](index=13&type=chunk) [Total AUM](index=12&type=section&id=Total%20AUM) Total AUM ended Q1 2025 at **$35.3 billion**, with **$0.2 billion** net client inflows offset by **$1.4 billion** market depreciation Total AUM Roll-Forward (in billions) | Description | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Beginning AUM | $36.5 | $33.3 | | Gross client inflows | $1.4 | $1.2 | | Gross client outflows | $(1.2) | $(1.5) | | Net client flows | $0.2 | $(0.3) | | Market (depreciation)/appreciation | $(1.4) | $1.5 | | **Ending AUM** | **$35.3** | **$34.5** | [Discretionary AUM](index=13&type=section&id=Discretionary%20AUM) Discretionary AUM was **$22.7 billion** in Q1 2025, flat YoY, with **$0.3 billion** net client inflows offset by **$0.9 billion** market depreciation Discretionary AUM Roll-Forward (in billions) | Description | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Beginning AUM | $23.3 | $21.9 | | Gross client inflows | $1.0 | $0.7 | | Gross client outflows | $(0.7) | $(1.1) | | Net client flows | $0.3 | $(0.4) | | Market (depreciation)/appreciation | $(0.9) | $1.2 | | **Ending AUM** | **$22.7** | **$22.7** | [Non-Discretionary AUM](index=14&type=section&id=Non-Discretionary%20AUM) Non-Discretionary AUM reached **$12.6 billion** in Q1 2025, up **6.8%** YoY, despite **$0.1 billion** net client outflows and **$0.5 billion** market depreciation Non-Discretionary AUM Roll-Forward (in billions) | Description | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Beginning AUM | $13.2 | $11.4 | | Gross client inflows | $0.4 | $0.5 | | Gross client outflows | $(0.5) | $(0.4) | | Net client flows | $(0.1) | $0.1 | | Market (depreciation)/appreciation | $(0.5) | $0.3 | | **Ending AUM** | **$12.6** | **$11.8** | [Condensed Consolidated Financial Statements](index=8&type=section&id=Condensed%20Consolidated%20Financial%20Statements) This section presents the condensed consolidated statements of operations and financial condition, detailing revenue, expenses, net income, assets, and liabilities [Condensed Consolidated Financial Statements of Operations](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q1 2025 total revenue was **$31.4 million**, but increased expenses led to a decline in income before taxes to **$5.1 million** and diluted net income per share to **$0.26** Q1 2025 Statement of Operations (in thousands) | Line Item | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Total revenue | $31,392 | $30,272 | | Total expenses | $26,555 | $24,368 | | Income before provision for income taxes | $5,102 | $6,208 | | Net income | $3,928 | $4,915 | | Net income attributable to Silvercrest | $2,469 | $3,000 | | Diluted net income per share | $0.26 | $0.32 | [Condensed Consolidated Statements of Financial Condition](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Financial%20Condition) As of March 31, 2025, total assets were **$159.9 million** and total liabilities **$43.2 million**, both decreasing from year-end 2024, primarily due to changes in cash and accrued compensation Balance Sheet Highlights (in thousands) | Line Item | March 31, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $36,255 | $68,611 | | Goodwill | $63,675 | $63,675 | | Total assets | $159,926 | $194,432 | | Accrued compensation | $9,085 | $39,865 | | Total liabilities | $43,234 | $74,739 | | Total equity | $116,692 | $119,693 | [Non-GAAP Financial Measures and Reconciliations](index=5&type=section&id=Non-GAAP%20Financial%20Measures%20and%20Reconciliations) This section explains and reconciles non-GAAP financial measures, including Adjusted EBITDA, Adjusted Net Income, and Adjusted EPS, to their GAAP equivalents [Explanation of Non-GAAP Financial Measures](index=5&type=section&id=Explanation%20of%20Non-GAAP%20Financial%20Measures) The company utilizes non-GAAP measures like Adjusted EBITDA and Adjusted Net Income to offer insights into operational performance by adjusting GAAP figures for non-recurring items and specific expenses - Adjusted EBITDA is defined as EBITDA adjusted for items such as Delaware franchise tax, certain professional fees, severance, and other non-recurring expenses[20](index=20&type=chunk) - Adjusted Net Income represents recurring net income adjusted for similar items as Adjusted EBITDA and assumes a blended corporate tax rate of **26%**[20](index=20&type=chunk) - Adjusted Earnings Per Share is calculated using Adjusted Net Income and includes both Class A and Class B shares outstanding to provide a perspective of recurring EPS for the entire company[20](index=20&type=chunk) [Reconciliation of GAAP to non-GAAP Adjusted EBITDA Measure](index=9&type=section&id=Reconciliation%20of%20GAAP%20to%20non-GAAP%20Adjusted%20EBITDA%20Measure) Q1 2025 GAAP Net Income of **$3.9 million** was reconciled to Adjusted EBITDA of **$6.5 million** by adding back income taxes, depreciation, amortization, and equity-based compensation Adjusted EBITDA Reconciliation (in thousands) | Description | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net income | $3,928 | $4,915 | | Provision for income taxes | 1,174 | 1,293 | | Depreciation and amortization | 1,039 | 1,019 | | Equity-based compensation | 454 | 354 | | Other adjustments | 110 | 118 | | Interest expense (net of income) | (258) | (296) | | Delaware Franchise Tax | 50 | 50 | | **Adjusted EBITDA** | **$6,497** | **$7,453** | [Reconciliation of GAAP to non-GAAP Adjusted Net Income and Adjusted Earnings Per Share Measures](index=10&type=section&id=Reconciliation%20of%20GAAP%20to%20non-GAAP%20Adjusted%20Net%20Income%20and%20Adjusted%20Earnings%20Per%20Share%20Measures) Q1 2025 Adjusted Net Income was **$3.9 million**, leading to Adjusted Diluted EPS of **$0.27**, after adjusting GAAP Net Income for taxes and other items using a **26%** tax rate Adjusted Net Income & EPS Reconciliation (in thousands, except per share) | Description | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net income | $3,928 | $4,915 | | Adjustments (pre-tax) | 160 | 168 | | Adjusted earnings before provision for income taxes | 5,262 | 6,376 | | Adjusted provision for income taxes (26%) | (1,368) | (1,658) | | **Adjusted net income** | **$3,894** | **$4,718** | | **Adjusted basic earnings per share** | **$0.29** | **$0.34** | | **Adjusted diluted earnings per share** | **$0.27** | **$0.33** | [Supplemental Information](index=7&type=section&id=Supplemental%20Information) This section provides supplemental information, including equity investment strategy performance and essential corporate disclosures [Equity Investment Strategy Composite Performance](index=16&type=section&id=Equity%20Investment%20Strategy%20Composite%20Performance) As of March 31, 2025, Silvercrest's proprietary equity strategies showed mixed 1-year performance against benchmarks, though longer-term results generally exceeded them 1-Year Equity Performance vs. Benchmark (as of March 31, 2025) | Composite | 1-Year Return | Benchmark | Benchmark 1-Year Return | | :--- | :--- | :--- | :--- | | Large Cap Value | 1.1% | Russell 1000 Value | 7.2% | | Small Cap Value | -4.1% | Russell 2000 Value | -3.1% | | Smid Cap Value | -0.8% | Russell 2500 Value | -1.5% | | Focused Value | 6.3% | Russell 3000 Value | 6.7% | [Corporate Information and Disclosures](index=7&type=section&id=Corporate%20Information%20and%20Disclosures) This section details the upcoming Q1 2025 earnings call, includes forward-looking statement disclaimers, and provides background on Silvercrest as an independent investment adviser - A conference call to discuss Q1 2025 results is scheduled for **May 9, 2025**, at **8:30 am (Eastern Time)**[21](index=21&type=chunk) - The release contains forward-looking statements subject to risks and uncertainties as detailed in the company's Form 10-K[22](index=22&type=chunk)

Core Insights - Silvercrest Asset Management Group Inc. reported strong new client organic flows of $0.4 billion in Q1 2025, following $1.4 billion in Q4 2024, indicating a positive trend in client acquisition and potential revenue growth [2][3] - Total Assets Under Management (AUM) decreased to $35.3 billion, down 3.3% from $36.5 billion at the end of 2024, primarily due to market depreciation [3][16] - The company declared a quarterly dividend of $0.20 per share, reflecting its commitment to returning capital to shareholders [7] Financial Performance - Revenue for Q1 2025 increased by $1.1 million, or 3.7%, to $31.4 million compared to $30.3 million in Q1 2024, driven by market appreciation [17] - Consolidated net income was $3.9 million for Q1 2025, down from $4.9 million in the same period last year, with net income attributable to Silvercrest at $2.5 million [19][20] - Adjusted EBITDA for Q1 2025 was $6.5 million, representing a margin of 20.7%, compared to $7.5 million and a margin of 24.6% in Q1 2024 [20][31] Assets Under Management - Total AUM as of March 31, 2025, was $35.3 billion, a 2.3% increase from $34.5 billion a year earlier, attributed to market appreciation of $0.8 billion [15][44] - Discretionary AUM remained flat at $22.7 billion year-over-year, while non-discretionary AUM increased by 6.8% to $12.6 billion [16][49] - The company experienced net client inflows of $0.2 billion, a significant improvement from a net outflow of $0.3 billion in the previous year [44] Strategic Initiatives - Silvercrest is focused on enhancing its presence in both institutional and wealth markets, investing in talent to drive growth and transition the business [4] - The company completed a $12.0 million stock repurchase program, indicating a strategy to return capital to shareholders while pursuing growth opportunities [6] - The firm plans to adjust its interim compensation ratio to align with business investments, reflecting a commitment to growth and return on invested capital [5]

Core Points - Silvercrest Asset Management Group Inc. will host a teleconference on May 9, 2025, to discuss its financial results for Q1 2025 [1] - The teleconference will feature remarks from Chairman and CEO Richard R. Hough III and CFO Scott A. Gerard, followed by a Q&A session [2] - The company reported assets under management of $36.5 billion as of December 31, 2024 [4] Company Overview - Silvercrest was founded in April 2002 as an independent, employee-owned registered investment adviser [4] - The firm provides traditional and alternative investment advisory and family office services to wealthy families and select institutional investors [4] - Silvercrest has offices in New York, Boston, Virginia, New Jersey, California, and Wisconsin [4]

Core Insights - Silvercrest Asset Management Group Inc. has appointed J. Allen Gray to its Board of Directors, effective immediately [1] - Mr. Gray has nearly 17 years of experience at Silvercrest, significantly contributing to the growth of the institutional asset management business, which now represents approximately 30% of the firm's discretionary assets under management [2] - The Chairman and CEO of Silvercrest, Richard Hough, expressed confidence that Mr. Gray's strategic insights will enhance the firm's growth in institutional asset management and global initiatives [3] Company Overview - Silvercrest was founded in April 2002 as an independent, employee-owned registered investment adviser, with a reported assets under management of $36.5 billion as of December 31, 2024 [5] - The firm operates offices in New York, Boston, Virginia, New Jersey, California, and Wisconsin, providing traditional and alternative investment advisory and family office services to wealthy families and select institutional investors [5] J. Allen Gray's Background - J. Allen Gray is a Managing Director and Head of Institutional business at Silvercrest, previously serving as Managing Partner at Osprey Partners Investment Management and as President of the Osprey Concentrated Large Cap Value Equity Fund [4] - His career includes roles at Radnor Capital Management and Wheat, First Securities, where he was involved in sales, marketing, and client relations [4]

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) Q4 2024 Earnings Conference Call March 7, 2025 8:30 PM ET Company Participants Richard Hough - Chairman, President, Chief Executive Officer Scott Gerard - Chief Financial Officer Conference Call Participants Sandy Mehta - Evaluate Research Christopher Marinac - Janney Montgomery Scott Chris Sakai - Singular Research Peter Katz - Herold & Lantern Investments Operator Good morning, and welcome to the Silvercrest Asset Management Group Inc. Q4 and Full Year ...