The following is a summary of the Westwood Holdings Group, Inc. (WHG) Q3 2024 Earnings Conference Call Transcript:

Financial Performance:

• Westwood reported Q3 2024 total revenues of $23.7 million, an increase from previous quarters and years.

• Q3 comprehensive income was $0.1 million, with non-GAAP economic earnings at $1.1 million or $0.13 per share.

• Assets under management reached $17.7 billion, a 5% increase from the prior quarter, marking a six-year high.

Business Progress:

• Launched two energy ETFs, MDST and WEEI, and established a joint venture for innovative ETFs called Westwood Engineered Beta (WEBs).

• Achieved strong institutional flows and robust sales pipeline nearing $2 billion.

• Entered phase 1 of Managed Investment Solutions, aiming to secure the first client.

• Announced a leadership change in Westwood Wealth Management with Brian Casey resuming executive responsibilities.

Opportunities:

• Launched innovative financial products and joint ventures in ETFs, reflecting adaptation to market demands.

• Expanding Managed Investment Solutions and custom index solutions.

• Targeting growth in the energy sector with a full suite of investment products.

Risks:

• Faced quarterly net outflows across several channels, indicating potential challenges in client retention and acquisition.

• Leadership transition in Wealth Management could pose risks to client relationships and business continuity.

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