Silvercrest Asset Management Reports Modest Revenue Growth but Declining Net Income for Fiscal Year 2025

Silvercrest Asset Management Group Inc. reported a modest increase in financial performance for the fiscal year ending December 31, 2025, with total revenue rising to $125.3 million, a 1.3% increase from $123.7 million in 2024. The growth was primarily driven by a 10% increase in family office services revenue, which reached $4.7 million, while management and advisory fees saw a slight uptick to $120.6 million. However, net income decreased significantly to $8.1 million from $15.7 million in the previous year, reflecting a net income margin of 6.4%, down from 12.7% in 2024. The decline in profitability was attributed to increased operating expenses, which rose by 9.4% to $116.0 million, largely due to higher compensation and benefits costs.

The company's assets under management (AUM) also experienced a slight increase, reaching $37.0 billion, up from $36.5 billion in 2024. This growth was attributed to market appreciation, which contributed $1.9 billion to discretionary AUM, despite facing net client outflows of $1.5 billion. The firm reported that its discretionary AUM accounted for 65% of total AUM, with a notable performance in its international value strategies, which achieved composite returns of up to 49.9% for the year.

Strategically, Silvercrest has continued to focus on organic growth complemented by selective hiring and acquisitions. The firm has successfully completed nine strategic acquisitions to enhance its service capabilities and geographic footprint. As of December 31, 2025, the company maintained a strong client retention rate of 98% and had 828 client relationships, with an average account size of $44 million. The firm’s employee headcount stood at 171, reflecting its commitment to providing personalized client service.

Looking ahead, Silvercrest's management expressed optimism about future growth, particularly in attracting institutional clients, as its investment strategies are included on the approved lists of several prominent institutional consultants. However, the company acknowledged potential challenges, including market volatility and the need to maintain competitive fee structures in a challenging investment landscape. The firm remains focused on delivering strong investment performance and high-touch client service as key differentiators in the wealth management sector.