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: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.