Silvercrest Asset Management Group Inc. reported a total revenue of $123.7 million for the fiscal year ending December 31, 2024, marking a 5.3% increase from $117.4 million in 2023. The growth in revenue was primarily driven by an increase in management and advisory fees, which rose to $119.3 million from $112.8 million, while family office services revenue decreased slightly to $4.3 million. The company's net income for the year was $15.7 million, compared to $15.2 million in the previous year, resulting in a net income margin of 12.7%.
The company's assets under management (AUM) increased by 9.6% to $36.5 billion as of December 31, 2024, up from $33.3 billion in 2023. This growth was attributed to a combination of market appreciation and net client inflows, particularly in discretionary assets, which rose by $1.4 billion. However, the company experienced a decrease in client inflows, with net outflows of $0.7 billion reported for the year. The average AUM for 2024 was approximately $34.9 billion, reflecting a significant increase in equity assets.
Strategically, Silvercrest has focused on expanding its geographic footprint and service capabilities through selective hiring and acquisitions. The firm has completed nine strategic acquisitions since its inception, which have contributed to its growth in AUM and professional ranks. As of December 31, 2024, the company employed 164 individuals, maintaining a strong commitment to client service with 65% of its workforce dedicated to client-facing roles.
Looking ahead, Silvercrest's management expressed optimism about future growth, particularly in attracting institutional clients. The firm is well-positioned to capitalize on its investment strategies, which have shown strong performance relative to benchmarks. However, management acknowledged potential risks, including market volatility and the competitive landscape of the investment management industry, which could impact client retention and asset flows.
In terms of operational developments, Silvercrest's client retention rate has averaged 98% since 2006, and the firm continues to emphasize its value proposition of delivering exceptional investment performance alongside personalized client service. The company remains committed to its growth strategy, which includes expanding its family office services and enhancing its brand presence in the market.
About Silvercrest Asset Management Group Inc.
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.