Silvercrest Asset Management Group Inc. (SAMG) Bundle
An Overview of Silvercrest Asset Management Group Inc. (SAMG)
General Summary of Silvercrest Asset Management Group Inc. (SAMG)
Silvercrest Asset Management Group Inc. (SAMG) is a full-service wealth management firm founded in 2002, specializing in providing financial advisory and family office services to ultra-high-net-worth individuals and institutional investors. The company is recognized for its comprehensive investment management capabilities and customized family office services.
As of 2024, SAMG offers a wide range of products and services, including:
- Investment management for separate accounts and various investment funds.
- Family office services, including estate planning, tax management, and philanthropic advisory.
- Advisory services for institutional investors.
In 2024, Silvercrest reported total sales of approximately $91.7 million for the nine months ended September 30, showcasing a growth trajectory in its service offerings and market presence.
Company's Financial Performance in the Latest Financial Reports
For the latest reporting period, Silvercrest Asset Management Group Inc. demonstrated notable financial performance:
- Total revenue increased by $2.8 million, or 3.2%, to $91.7 million for the nine months ended September 30, 2024, compared to $88.9 million in the same period of 2023.
- For the third quarter of 2024, total revenue rose by $0.7 million, or 2.4%, to $30.4 million, up from $29.7 million in Q3 2023.
- Management and advisory fees contributed significantly, totaling $88.4 million for the nine months ended September 30, 2024, reflecting a 3.5% increase from $85.4 million in 2023.
- Family office services revenue amounted to $3.2 million, down 5.2% from $3.4 million in the prior year.
The company's assets under management (AUM) also showed strong growth:
- Total AUM increased by $3.9 billion, or 12.5%, to $35.1 billion at September 30, 2024, compared to $31.2 billion at the same time in 2023.
- Discretionary AUM grew from $20.5 billion in September 2023 to $22.6 billion in September 2024.
- Market appreciation accounted for $5.7 billion of the AUM increase, while client inflows totaled $3.9 billion, offset by client outflows of $5.7 billion.
The following table provides a summary of key financial metrics:
| Metric | Q3 2024 | Q3 2023 | Change (%) |
|---|---|---|---|
| Total Revenue | $30.4 million | $29.7 million | 2.4% |
| Net Income | $3.7 million | $5.4 million | (31.4%) |
| Assets Under Management | $35.1 billion | $31.2 billion | 12.5% |
| Management and Advisory Fees | $88.4 million | $85.4 million | 3.5% |
| Family Office Services Revenue | $3.2 million | $3.4 million | (5.2%) |
Introduction to Company as a Leader in the Industry
Silvercrest Asset Management Group Inc. is recognized as one of the leading firms in the wealth management and financial advisory industry. The firm has established a strong reputation for providing tailored solutions to meet the complex financial needs of its clientele. Its commitment to excellence is reflected in its robust asset management strategies and comprehensive family office services.
As of 2024, SAMG continues to adapt to market changes and client demands, positioning itself for sustained growth and success in the wealth management sector.
Mission Statement of Silvercrest Asset Management Group Inc. (SAMG)
Mission Statement of Silvercrest Asset Management Group Inc. (SAMG)
The mission statement of Silvercrest Asset Management Group Inc. (SAMG) serves as a guiding framework for the company's long-term objectives, emphasizing their commitment to excellence in wealth management services. The mission reflects the company's dedication to providing tailored financial solutions that meet the unique needs of their clients, particularly ultra-high net worth individuals and institutional investors.
Core Component 1: Client-Centric Approach
At the heart of Silvercrest's mission is a client-centric approach, which underscores the importance of understanding clients’ financial goals and aspirations. This approach is evident in their offerings, which include customized investment strategies and comprehensive family office services. For instance, as of September 30, 2024, the company reported a total of $35.1 billion in assets under management (AUM), a significant increase of 12.5% from $31.2 billion at the same time in the previous year.
| Period | Total AUM (in billions) | Discretionary AUM (in billions) | Non-Discretionary AUM (in billions) |
|---|---|---|---|
| September 30, 2024 | $35.1 | $22.6 | $12.5 |
| September 30, 2023 | $31.2 | $20.5 | $10.7 |
Core Component 2: Commitment to Excellence
Silvercrest's mission emphasizes a commitment to excellence in all aspects of its operations. This includes not only the investment performance but also the quality of service provided to clients. In the third quarter of 2024, the company reported management and advisory fees of $29.4 million, reflecting a 3.4% increase compared to the same period in 2023. This growth in revenue is indicative of the firm's effective strategies and execution in managing client assets.
Core Component 3: Integrity and Transparency
Another vital component of Silvercrest's mission is the emphasis on integrity and transparency in client relationships. The firm aims to build trust through clear communication and ethical practices. In the nine months ended September 30, 2024, Silvercrest recorded a net income of $13.0 million, which illustrates the company's operational stability and commitment to maintaining a strong financial position.
| Financial Metrics | 2024 (Nine Months) | 2023 (Nine Months) |
|---|---|---|
| Total Revenue | $91.7 million | $88.9 million |
| Net Income | $13.0 million | $15.8 million |
Through these core components, Silvercrest Asset Management Group Inc. articulates a mission that not only drives its strategic initiatives but also reinforces its dedication to its clients and the broader financial community.
Vision Statement of Silvercrest Asset Management Group Inc. (SAMG)
Vision Statement Overview
The vision of Silvercrest Asset Management Group Inc. (SAMG) as of 2024 reflects its commitment to providing exceptional wealth management services to ultra-high net worth individuals and institutional clients. The firm aims to be a leader in delivering tailored financial solutions that foster long-term client relationships and financial success.
Client-Centric Focus
At the core of Silvercrest's vision is a strong emphasis on client service. The company strives to understand the unique needs of its clients and deliver personalized investment strategies that align with their financial goals.
- Total Assets Under Management (AUM): $35.1 billion as of September 30, 2024, representing a 12.5% increase from $31.2 billion a year earlier.
- Client Inflows: $3.9 billion during the nine months ended September 30, 2024.
- Client Outflows: $5.7 billion during the same period, indicating the firm's focus on managing client relationships and addressing concerns effectively.
Commitment to Excellence
Silvercrest's vision includes a dedication to maintaining high standards in investment management. The firm continuously seeks to enhance its investment strategies and operational efficiencies.
| Performance Metrics | 2024 | 2023 |
|---|---|---|
| Total Revenue | $91.7 million | $88.9 million |
| Net Income | $13.0 million | $15.8 million |
| Adjusted EBITDA Margin | 22.9% | 27.3% |
| Management and Advisory Fees | $88.4 million | $85.4 million |
Innovation and Growth
Silvercrest's vision is also rooted in innovation, focusing on developing new investment products and services that anticipate market trends and client demands.
- Equity Strategy Returns: 12.8% for emerging markets, 12.4% for REITs, and 10.7% for focused opportunity strategies during the three months ended September 30, 2024.
- Growth in Discretionary AUM: Increased by $1.0 billion in the third quarter of 2024 alone.
Long-Term Sustainability
The firm prioritizes sustainability in its investment practices, integrating environmental, social, and governance (ESG) factors into its decision-making processes.
- Investment Strategy Diversity: SAMG offers a range of strategies including fixed income, equity, and alternative investments to manage risks effectively.
- Market Positioning: As of September 30, 2024, 64% of AUM is in discretionary assets, showcasing a strong focus on active management.
Conclusion of Vision Statement Components
Silvercrest Asset Management Group Inc. continues to evolve its vision to align with the changing landscape of wealth management, focusing on client relationships, operational excellence, innovation, and sustainability.
Core Values of Silvercrest Asset Management Group Inc. (SAMG)
Integrity
Integrity is a foundational core value at Silvercrest Asset Management Group Inc. (SAMG). It emphasizes ethical behavior and accountability in all actions and decisions.
For instance, Silvercrest has implemented a rigorous compliance program that ensures all employees adhere to industry regulations and ethical standards. In 2024, the firm has reported zero instances of regulatory violations or ethical breaches, reinforcing its commitment to integrity.
Client-Centricity
Client-centricity reflects Silvercrest's dedication to prioritizing client needs and delivering tailored solutions. This value is evident in the firm's approach to wealth management, where personalized investment strategies are developed for each client.
As of September 30, 2024, Silvercrest managed assets totaling $35.1 billion, demonstrating its ability to attract and retain clients through exceptional service. The company reported a 2.4% increase in total revenue, reaching $30.4 million for the third quarter of 2024, largely driven by client satisfaction and loyalty.
Excellence
Excellence is a core value that drives Silvercrest to achieve high standards in every aspect of its operations. The firm continuously seeks to enhance its services and investment strategies.
In 2024, Silvercrest's discretionary assets under management increased by 5.7% during the third quarter, reflecting the effectiveness of its investment strategies. The firm has also achieved composite returns of 12.8%, 12.4%, and 10.7% in its emerging markets ADR, REIT, and focused opportunity strategies, respectively.
Collaboration
Collaboration underscores the importance of teamwork and partnership within Silvercrest. The firm fosters a culture of collaboration among its employees to drive innovation and improve client outcomes.
As part of its initiatives, Silvercrest has established cross-functional teams that work together on client projects. This collaborative approach has contributed to a 3.5% increase in management and advisory fees, totaling $88.4 million for the nine months ended September 30, 2024.
Innovation
Innovation is crucial for Silvercrest to remain competitive and effectively serve its clients. The firm continually invests in technology and research to enhance its investment capabilities.
In 2024, Silvercrest reported an increase in average assets under management to approximately $34.3 billion, highlighting the success of its innovative strategies in attracting new clients. The firm's commitment to technological advancements is evident in its adoption of advanced portfolio management systems, which have improved operational efficiency and client reporting.
| Core Value | Key Initiatives | 2024 Achievements |
|---|---|---|
| Integrity | Compliance Program | Zero regulatory violations |
| Client-Centricity | Personalized Investment Strategies | $35.1 billion AUM, 2.4% revenue increase |
| Excellence | High-Performance Investment Strategies | Composite returns of 12.8%, 12.4%, 10.7% |
| Collaboration | Cross-Functional Teams | 3.5% increase in management fees |
| Innovation | Advanced Portfolio Management Systems | Average AUM of $34.3 billion |
Silvercrest Asset Management Group Inc. remains steadfast in its commitment to these core values, which are integral to its identity and operational success in the financial services industry.
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Article updated on 8 Nov 2024
Resources:
- Silvercrest Asset Management Group Inc. (SAMG) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Silvercrest Asset Management Group Inc. (SAMG)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Silvercrest Asset Management Group Inc. (SAMG)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.