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Dec 31, 2020
Silvercrest Q4 2020 Earnings Report
Reported Q4 and year-end results, showing growth in revenue and AUM.
Key Takeaways
Silvercrest Asset Management Group reported a strong Q4 2020, with revenue increasing to $28.4 million and total AUM reaching $27.8 billion. Discretionary AUM also saw a significant increase, driven by both organic and market growth. Adjusted EBITDA was $7.3 million, and adjusted diluted earnings per share were $0.31.
Total AUM reached $27.8 billion, including $20.6 billion in discretionary AUM and $7.2 billion in non-discretionary AUM.
Revenue increased to $28.4 million.
GAAP consolidated net income was $3.5 million, with net income attributable to Silvercrest at $1.9 million.
Adjusted EBITDA was $7.3 million, and adjusted net income was $4.4 million.
Silvercrest
Silvercrest
Forward Guidance
Silvercrest anticipates a strong start to 2021 with potential for new high revenue run rate, driven by growth in OCIO business and rebuilding institutional equity new business opportunities.
Positive Outlook
- Potential new high revenue run rate in 2021
- Discretionary AUM increased 15% during Q4 2020
- OCIO business more than doubled during 2020, aiming to cross $1 billion AUM in 2021
- Rebuilding institutional equity new business opportunities across product suite
- Continued addition of new talent to maintain high client service and grow the business
Challenges Ahead
- Active and expensive M&A environment for wealth management firms
- Continued effects of COVID-19 on financial markets
- Fluctuations in quarterly and annual results
- Adverse economic or market conditions
- Risk of failure of operational safeguards against breaches in data security