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

Core Viewpoint Silvercrest Asset Management Group Inc. reported its operational results for the year ended December 31, 2025, highlighting a decrease in discretionary assets under management (AUM) in the fourth quarter, despite an overall increase for the year. The company is focusing on strategic investments to drive long-term growth, which has impacted short-term earnings. Financial Performance - Discretionary AUM decreased by 1.2% in Q4 2025, from $24.3 billion to $24.0 billion, while total discretionary AUM increased by 3% for the year, from $23.3 billion to $24.0 billion [2][18] - Total AUM decreased by 1.6% in Q4 2025 to $37.0 billion, but increased by 2% year-over-year from $36.5 billion [4][18] - Revenue for Q4 2025 was flat at $31.96 million compared to Q4 2024, while total revenue for the year increased by 1.3% to $125.3 million [20][24] Client Acquisition and Market Position - Silvercrest added $124.5 million in organic new client accounts in Q4 2025, totaling $688.3 million for the year, indicating strong client acquisition momentum [3] - The firm ranked 6 in Nasdaq eVestment's Q4 2025 Brand Awareness Rankings among mid-sized firms, reflecting growing recognition of its institutional capabilities [6] Strategic Investments - The company is making significant strategic investments in intellectual capital and headcount to support long-term growth, which has led to lower earnings and Adjusted EBITDA in the short term [5][9] - Silvercrest is in the process of creating an Australian investment trust and a UCITS vehicle in Europe, with regulatory approval expected in Q2 2026 [7] Compensation and Expenses - Total compensation and benefits expense for 2025 was $83.9 million, representing 67% of revenue, an increase from 62% in 2024 [10][25] - The company expects the compensation ratio to remain elevated as investments mature and contribute to revenue growth [9] Share Repurchase and Equity - Silvercrest announced a share repurchase program of $25 million, having repurchased approximately $50.4 million worth of shares by the end of 2025 [11] - Total equity was $50.3 million at December 31, 2025, with 7,782,884 shares of Class A common stock and 4,119,699 shares of Class B common stock outstanding [30]