Silvercrest Asset Management Group Inc. (NASDAQ: SAMG)

Silvercrest Asset Management Group Inc. is a full service wealth management firm that provides financial advisory and family office services to ultra high net worth individuals and institutional investors. The firm was founded 23 years ago on the premise that delivering excellent investment performance together with high touch client service would distinguish it from other wealth managers. As of December 31 2025 it reported assets under management of $37.0 billion. The firm serves clients through a combination of proprietary investment strategies and a suite of family office services that include financial planning, tax preparation, partnership accounting, fund administration and consolidated wealth reporting.

The majority of the firm’s revenue comes from fees that are based on the value of discretionary assets under management, which rise or fall as client portfolios gain or lose value. These asset based fees are charged as a percentage of the managed assets and align the firm’s income with the financial outcomes of its clients. In addition, the firm earns negotiated fees for family office services such as financial planning, tax preparation, partnership accounting, fund administration and consolidated wealth reporting, which are not tied to market performance. The firm also offers outsourced manager selection services, receiving compensation through fee arrangements with external managers that are negotiated on behalf of clients. Revenue from these various fee sources is supplemented by income from advisory services related to equities, fixed income, hedge funds, private equity, real estate and commodities.

Silvercrest operates in a highly competitive wealth management industry that includes large financial institutions, asset management firms, trust companies and multi family offices. The firm distinguishes itself by combining proprietary investment strategies with a high touch service model that emphasizes independence and alignment of interests with clients. Its competitive advantages include a strong record of investment performance, a client retention rate that has averaged 98% since 2006, and low employee turnover resulting from a specialized organizational structure. The firm’s proprietary equity and fixed income strategies manage roughly half of its assets under management, while its outsourced capabilities provide access to alternative investments and additional asset classes. These factors enable Silvercrest to compete effectively against both larger rivals that rely on off the shelf products and smaller firms that lack the depth of resources needed for full service wealth management.

The firm’s client base consists of ultra high net worth individuals and families, as well as institutional investors such as endowments, foundations, public and corporate pension funds. As of December 31 2025 the company maintained 828 client relationships with an average relationship size of $44 million, representing approximately 99% of its assets under management. The top 50 relationships averaged $475 million each and accounted for about 64% of total assets under management. Approximately 70% of discretionary assets under management were held for individual clients while the remaining 30% were held for institutional clients. The firm reports an annual client retention rate that has averaged 98% since 2006, reflecting long term relationships built on trust and performance.