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Silvercrest Asset Management Group (SAMG) investor relations material
Silvercrest Asset Management Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Total AUM reached a record $37.6 billion at quarter-end, up 7.1% year-over-year, driven by $2.3 billion in market appreciation and $2 billion in organic new client accounts, despite net client outflows.
Discretionary AUM was $24.3 billion, up 3% sequentially and 8% year-over-year, with non-discretionary AUM at $13.3 billion.
The firm is focused on organic growth, investing in talent, business development, and new strategies, with a robust pipeline for global and institutional markets.
A $25 million share buyback program was announced, with $16 million repurchased by Q3 end; a quarterly dividend of $0.21 per share was declared.
Net income declined to $1.1 million for the quarter, reflecting higher expenses from ongoing investments.
Financial highlights
Q3 revenue was $31.3 million, up 2.9% year-over-year; nine-month revenue was $93.4 million, up 1.8%.
Q3 net income was $1.1 million (3.5% margin), down from $3.7 million (12.3% margin) in Q3 2024; nine-month net income was $8.2 million (8.7% margin).
Adjusted EBITDA for Q3 was $4.5 million (14.5% margin), and $16.8 million (18.0% margin) for the nine months, both down from prior year periods.
Management and advisory fees were $30.1 million for the quarter and $89.9 million for the nine months.
Family office services revenue grew 17.6% for the quarter and 8.2% for the nine months.
Outlook and guidance
Management expects discretionary AUM to potentially exceed all-time highs in coming quarters, assuming supportive markets and continued business development.
Strategic investments are expected to impact earnings and EBITDA in the short term, with a return to higher profitability anticipated over an 18–24 month horizon.
Distributions to limited partners and quarterly dividends to Class A shareholders are expected to continue, subject to operating results and liquidity.
Ongoing investments in intellectual capital and headcount are expected to keep the compensation ratio elevated in the near term.
The new business pipeline is robust, especially for the global value equity strategy, with potential for significant flows in the next 6–12 months.
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