Silvercrest Asset Management Group(SAMG) - 2024 Q1 - Earnings Call Transcript

I would -- first of all, I've always asked investors to focus on our discretionary assets under management primarily because that has a direct link to revenue. There is a lagging effect with regards to that revenue that I think is important to take into consideration, because we bill quarterly in advance and of course there are four days in the year, which is to say at the end of each quarter that we report revenue on. So, the effect you would see, for example, in the increase in discretionary assets and un ...