The following is a summary of the AlTi Global, Inc. (ALTI) Q1 2024 Earnings Call Transcript:

Financial Performance:

• AlTi Global's Q1 2024 revenue stood at $51 million with 96% recurring fees.

• The company's net income was estimated at $22 million, while the adjusted EBITDA margin came at 13%.

• Over the past year, AlTi's assets under management (AUM) saw a growth of 10% to $71 billion.

• The Wealth Management segment contributed to this with a 17% AUM growth primarily due to strong market performance and strategic acquisitions.

• Even though the revenue from the Strategic Alternatives segment decreased, recurring revenues made up for 88% of the segment's top line contribution.

Business Progress:

• AlTi has successfully established strategic partnerships and has divested noncore assets.

• It expanded operations through the successful acquisition of East End Advisors and Envoi, strengthening its wealth management platform.

• Regulatory approval for the sale of its Europe-based trust and private office businesses have also been received.

• Significant growth through strategic relationships with Allianz X and Constellation Wealth Capital is expected to expand AlTi's global reach.

• Revenue-producing talent acquisition and further integration of their global operations are primary objectives for the company.

• The company is continuing to focus on absorbing wealth firms having a perfect cultural and strategic fit, exploring geographical expansions and strategic alternatives.

• AlTi is optimistic about generating accelerated growth in 2024 and creating long-term value for its shareholders.

More details: AlTi Global IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.