The following is a summary of the Silvercrest Asset Management Group Inc. (SAMG) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Silvercrest reported Q1 discretionary assets under management (AUM) at $22.7 billion, up 3.7%, with total AUM at $34.5 billion, up $1.2 billion.

• Year over year, total and discretionary AUM have grown 15.4% and 6.6%, respectively, with a 2.9% revenue increase.

• However, higher expenses, primarily compensation-related, have led to a decrease in most business metrics.

• The firm posted consolidated net income of $4.9 million and an adjusted EBITDA of $7.5 million, which is 24.6% of the quarter's revenue.

Business Progress:

• Firm's business pipeline has grown to $2 billion, indicating near-term positive flow.

• Silvercrest is expanding its workforce to bolster international equity investment capabilities and global outreach.

• Strategic investments in next-generation associates are promoted to drive future growth.

• The firm is on the verge of change, committing to growth variability and emphasizing new initiatives for business expansion while maintaining its core principles.

More details: Silvercrest Asset Management IR

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