Silvercrest Asset Management Group Inc. reported its fourth quarter and full year results for 2024 on March 6, 2025, highlighting strong new client organic flows. The firm garnered $1.4 billion in Q4 and $1.5 billion during 2024 in new client assets under management (AUM) inflows, marking the best year for new organic client inflows since 2015.
Total AUM reached $36.5 billion at year-end 2024, up 9.6% from $33.3 billion at year-end 2023. Discretionary AUM, which drives revenue, rose 6.4% to $23.3 billion. Full year 2024 revenue increased by 5.3% to $123.7 million, while Q4 revenue was up 12.0% to $32.0 million compared to Q4 2023.
Despite the revenue growth, total expenses for the full year increased by 7.5% to $106.0 million, primarily due to higher compensation and benefits and general and administrative expenses related to strategic investments. This resulted in a slight decrease in full year Adjusted EBITDA to $26.1 million, or 21.1% of revenue, from $26.9 million, or 22.9% of revenue, in 2023.
For Q4 2024, consolidated net income was $2.7 million, a significant improvement from a net loss of $0.6 million in Q4 2023. Net income attributable to Silvercrest was $1.6 million, or $0.17 per basic and diluted share. The firm also noted strategic hires in Atlanta and Singapore, and obtaining a full MAS license for Singapore, as part of its global expansion efforts.
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