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Silvercrest Asset Management Group Inc. (SAMG) Q3 2024 Earnings Call Transcript Summary

Futu News ·  Nov 1 22:44  · Conference Call

The following is a summary of the Silvercrest Asset Management Group Inc. (SAMG) Q3 2024 Earnings Call Transcript:

Financial Performance:

  • In Q3 2024, Silvercrest reported discretionary AUM of $22.6 billion and total AUM of $35.1 billion.

  • Revenue for the quarter was $30.4 million, with a net income of $3.7 million.

  • Year-over-year, revenue increased by approximately 2%, driven by increased discretionary AUM, while expenses increased by 12% due to higher compensation and benefits.

Business Progress:

  • Silvercrest saw growth in assets under management due to supportive market conditions, with a 5% increase since Q2 and a 10% increase year-over-year.

  • The firm is expanding its global equity strategy and has seen increased business opportunities with a $1.2 billion pipeline.

  • New client accounts and relationships increased, particularly through new Small Cap Opportunity mandates.

Opportunities:

  • Silvercrest plans significant inflows from a new global equity strategy and expects robust net organic flows over the next quarters.

  • The firm is actively hiring to support business growth and invest in its future capabilities.

Risks:

  • Despite increased revenue, most business metrics are down due to higher operational expenses.

  • The firm faces the challenge of managing increased expenses while still aiming for growth.

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

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