Q3 2025 Silvercrest Asset Management Group Inc Earnings Call Transcript
Key Points
- Discretionary assets under management (AUM) increased by $687 million during the third quarter, driven by beneficial equity markets.
- Silvercrest Asset Management Group Inc (SAMG) added $46.4 million in organic new client accounts during the third quarter, contributing to a total of $564 million in new client accounts for the year.
- Total AUM reached a new high of $37.6 billion at the end of the third quarter, with discretionary AUM increasing by 8% year over year.
- The company has embarked on significant strategic investments to promote growth opportunities, focusing on organic new client acquisition and discretionary AUM.
- A new buyback program of $25 million was announced in May 2025, with approximately $16 million worth of shares repurchased by the end of the third quarter, supported by a strong balance sheet.
- Despite the increase in discretionary AUM, overall negative flows were reported during the quarter.
- Expenses for the quarter increased by 15.4% year over year, primarily driven by increased compensation and benefits expenses.
- Net income attributable to Class A shareholders for the third quarter was only $0.6 million, or $0.07 per basic and diluted Class A share.
- Adjusted EBITDA was lower than expected at $4.5 million, representing 14.5% of revenue for the quarter.
- The compensation ratio will remain elevated due to ongoing investments in talent and strategic initiatives, impacting short-term profitability.
Good morning and welcome to the Silvercrest Asset Management Group Inc. Third quarter 2025 earnings conference call.
(Operator Instructions)
Before we begin, let me remind you that during today's call, certain statements made regarding our future performance are forward-looking statements. They are based on current expectations and projections which are subject to a number of risks and uncertainties and many factors could cause actual results to differ materially from the statements that are made.
Those factors are disclosed in our filings with the SEC under the caption risk factors. For all such forward-looking statements, we claim the protections provided by the litigation Reform Act of 1,995. All forward-looking statements made on this call are made as of the date hereof, and Silvercrest assumes no obligation to update them.
I would now like to turn the conference over to Richard Hough, Chairman and CEO of Silvercrest. Please go ahead.
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