Silvercrest Asset Management Group Inc. (SAMG): Business Model Canvas [Dec-2025 Updated]

You're trying to figure out how a firm like Silvercrest Asset Management Group Inc. (SAMG) carves out a niche against the behemoths, and honestly, the answer lies in their specialized engine. It's not just about managing $24.3 billion in AUM as of Q3 2025; it's about delivering institutional-grade investment strategies with the personalized care of a family office, which keeps their client retention near perfect. Their revenue model, driven by $93.4 million in advisory fees for the first nine months of 2025, proves this high-touch approach pays off big time, even when starting with a $1.3 billion seed from a partner like CBUS. It's a masterclass in focused execution. Dig into the full Business Model Canvas below to see exactly how their key activities and resources support this premium service.

Silvercrest Asset Management Group Inc. (SAMG) - Canvas Business Model: Key Partnerships

You're looking at the core relationships that help Silvercrest Asset Management Group Inc. execute its strategy, especially as they expand beyond their traditional high-net-worth focus. These partnerships are critical infrastructure for managing the firm's assets, which stood at $37.6 billion in total AUM as of September 30, 2025.

The most significant, recently announced partnership is with a major institutional investor, which provided the necessary capital to launch a new strategy.

Silvercrest Asset Management Group Inc. relies on external expertise to broaden its investment universe, particularly for alternative asset classes. This is a key component when serving institutional clients and family offices seeking an endowment-style portfolio.

• External sub-advisors are used to manage customized separately managed alternative investment portfolios.
• These strategies span asset classes including private equity and hedge funds.
• Sub-advisory fees are a component of General and Administrative Expenses and fluctuate based on management fees from funds utilizing them.

Managing total AUM of $37.6 billion as of September 30, 2025, requires a robust operational backbone. This necessitates established relationships for the safekeeping of client assets and the efficient execution of trades across global markets.

The firm's structure, which includes providing investment advisory and sub-advisory services to Funds, also implies reliance on external financial infrastructure.

For capital markets activities, such as stock offerings, Silvercrest Asset Management Group Inc. partners with financial institutions for underwriting services. The scale of operations, with discretionary AUM at $24.3 billion on September 30, 2025, requires dependable execution partners.

The operational needs for managing assets for wealthy families and institutional investors require these external service providers to maintain the firm's service level, which is a core part of its value proposition. If onboarding takes 14+ days, churn risk rises.

Silvercrest Asset Management Group Inc. (SAMG) - Canvas Business Model: Key Activities

You're looking at the core actions Silvercrest Asset Management Group Inc. takes to generate value, based on their late 2025 positioning. It's about managing assets and deploying capital for growth.

The firm's proprietary investment management is centered on growing its Assets Under Management (AUM), which directly impacts revenue since Silvercrest Asset Management Group Inc. primarily bills clients quarterly in advance. As of September 30, 2025, Total AUM reached $37.6 billion, with Discretionary AUM at $24.3 billion. This Discretionary AUM, which drives the top-line revenue, showed a year-over-year increase of 7.5% to reach that $24.3 billion level.

Here's a quick look at the AUM breakdown as of September 30, 2025:

Delivering comprehensive, customized family office and financial advisory services is a key activity, partnering with wealthy families, individuals, and select institutional clients. This involves providing customized, full-service investment office solutions. The focus on high-value relationships is evident in prior data showing an average client relationship size of $43 million.

Strategic hiring and investment in intellectual capital are explicitly stated as ongoing efforts to drive new growth and support long-term priorities. Management noted that earnings and Adjusted EBITDA reflect a concerted effort to invest capital, keeping the interim compensation ratio elevated to match these important investments in the business. The firm remains highly optimistic about securing more significant organic flows as these investments bear fruit in 2025 and 2026.

The activity of driving organic growth is supported by new client acquisition. Silvercrest Asset Management Group Inc. added $564 million in new client accounts through the third quarter of 2025.

Ongoing risk analytics and due diligence are embedded in serving institutional clients and tailoring portfolios for endowments and foundations based on their distinctive financial goals and risk tolerances. The firm emphasizes providing institutional-quality work on behalf of the wealth management and family office segments it serves.

International expansion efforts are underway, with marketing initiatives specifically mentioned for Europe, Oceania, and Asia. The physical presence supporting this includes SILVERCREST ASSET MANAGEMENT (SINGAPORE) PTE. LTD., which was incorporated on February 22, 2022. This Singapore entity's principal activity is listed as Fund management activities N.E.C. A recent operational update for this entity involved a change in the number of employees on October 6, 2025.

Key activities related to capital management and shareholder return include:

• Declaring a quarterly dividend of $0.21 per share of Class A common stock in October 2025.
• Repurchasing approximately $16 million worth of shares by the end of the third quarter of 2025 under a $25.0 million buyback program announced in May 2025.

Finance: draft 13-week cash view by Friday.

Silvercrest Asset Management Group Inc. (SAMG) - Canvas Business Model: Key Resources

You're looking at the core assets that power Silvercrest Asset Management Group Inc.'s value proposition. Honestly, the structure itself is a major resource.

Silvercrest Asset Management Group LLC was founded in April 2002 as an independent, employee-owned registered investment adviser. This structure defintely aligns partner incentives with client success, which is a key differentiator in this space.

The firm relies on its intellectual capital, which is built over time. Silvercrest was founded 23 years ago as of late 2025, providing a deep bench of investment professionals and analysts across its core capabilities. These teams focus on highly disciplined management strategies.

Here's a quick look at the scale of assets managed and the focus on proprietary capabilities as of the end of the third quarter of 2025:

The firm's core proprietary investment capabilities are focused on a narrow range of highly disciplined strategies. These are the engines that generate the firm's highest-margin revenue.

• U.S. Value Equity: Includes U.S. Large Cap, Small Cap, Multi Cap, and Equity Income portfolios.
• U.S. Growth Equity: Manages U.S. Large Cap through Small Cap portfolios.
• International Value Equity: Offers Small Cap, Multi Cap, Focused International, Global Value, and Emerging Markets portfolios.

The focus on proprietary long-only equity management capabilities has been a cornerstone for over a decade when partnering with select institutional clients. The firm also offers a focused array of complementary, non-proprietary capabilities, including alternative investments and traditional approaches in areas like high-yield bonds.

Silvercrest Asset Management Group Inc. (SAMG) - Canvas Business Model: Value Propositions

The core value proposition for Silvercrest Asset Management Group Inc. centers on delivering institutional-grade investment management expertise paired with the focused attention of a boutique service model. This is evidenced by a consistently reported client retention rate of 98%.

The firm provides a comprehensive suite of services tailored to sophisticated clients, including wealth management for individuals and families with substantial assets, and customized family office solutions for endowments, foundations, and other institutional investors.

• Individuals & Families
• Institutional Investors
• Endowments & Foundations

Silvercrest Asset Management Group Inc. partners with endowments, foundations, and family offices to deliver full-service investment office solutions, including Outsourced Chief Investment Officer (OCIO) services. The firm emphasizes a team approach, leveraging decades of experience in advising large endowed charities and global investors.

A central tenet of the investment approach is the focus on capital preservation and achieving attractive risk-adjusted returns through the application of the Endowment Model. This model expands beyond traditional two-dimensional stock and bond portfolios by incorporating alternative investments such as hedge funds, private equity, and real assets, aiming for a more efficient risk/reward balance.

The firm's asset base as of late 2025 reflects the scale of its operations:

The structure of the AUM highlights the focus on advisory services; the non-discretionary AUM, which includes fixed fee reporting and family-office services, comprised only 4% of total revenue as of the third quarter of 2025. The firm continues to secure new business, adding $564 million in new client accounts through the third quarter of 2025 year-to-date.

The value proposition is further supported by the firm's commitment to growth investments, which are intended to drive future revenue and build return on invested capital. Silvercrest Asset Management Group Inc. has added approximately $2.0 billion in organic new client accounts year-over-year as of the third quarter of 2025.

Silvercrest Asset Management Group Inc. (SAMG) - Canvas Business Model: Customer Relationships

You're looking at how Silvercrest Asset Management Group Inc. keeps its clients close, which is key for a firm focused on high-net-worth individuals and institutions. Their approach is definitely built around sticking with clients for the long haul, not just chasing the next quarterly fee.

Dedicated, long-term relationship management with a focus on personalized service.

The proof of this dedicated approach is in the numbers; as of late 2025, Silvercrest Asset Management Group Inc. maintains a client retention rate of 98%. That kind of stickiness doesn't happen by accident; it comes from a commitment to personalized service that they say isn't typical at larger organizations. They serve three primary groups: Individuals & Families, Institutional Investors, and Endowments & Foundations.

The success in building new relationships is also evident in the flow data. Through the third quarter of 2025, Silvercrest Asset Management Group Inc. added approximately $2.0 billion in organic new client accounts year-over-year. For the first nine months of 2025, they secured $564 million in new client accounts. That's a strong indicator that their relationship-first pitch is landing with prospects.

Here's a quick look at the asset base supporting these relationships as of September 30, 2025:

Customized full-service investment office solutions for institutional clients.

For institutional clients, endowments, and foundations, Silvercrest Asset Management Group Inc. offers more than just managing a portfolio; they provide comprehensive solutions. This is reflected in their asset mix. While Discretionary AUM stood at $24.3 billion as of September 30, 2025, a significant portion of their client base is managed under non-discretionary arrangements. The non-discretionary AUM reached $13.3 billion by the end of Q3 2025. What this estimate hides is that these non-discretionary assets, which often include fixed fee reporting and family-office services, contribute only about 4% of the firm's total revenue. This low revenue percentage relative to the asset size strongly suggests these relationships are deep, service-intensive, and customized beyond standard asset management fees.

The firm is actively growing this area, noting that non-discretionary AUM has more than doubled over the past few years. They remain highly optimistic about securing more significant organic flows in the coming quarters.

High-touch, consultative model to address complex financial affairs and legacy planning.

The consultative model is designed to handle the intricate financial lives of their wealthy family clients. This isn't just about investment returns; it's about holistic wealth management. Silvercrest Asset Management Group Inc. has a history of successfully dealing with complex situations, which you'd expect from a firm that emphasizes open communication.

Their service scope includes:

• Diversifying from concentrated stock holdings.
• Investing family foundations and endowments.
• Business succession planning.
• Investing for retirement.
• Estate and tax planning.

This breadth of service requires a high-touch engagement, definitely not a one-size-fits-all platform approach. If onboarding takes 14+ days, churn risk rises, but their retention rate suggests they manage that initial friction well.

Finance: draft 13-week cash view by Friday.

Silvercrest Asset Management Group Inc. (SAMG) - Canvas Business Model: Channels

You're looking at how Silvercrest Asset Management Group Inc. (SAMG) gets its services-traditional and alternative investment advisory, plus family office services-to its clients. It's a multi-pronged approach relying heavily on direct contact and targeted institutional outreach.

As of September 30, 2025, the firm managed total Assets Under Management (AUM) of $37.6 billion, with discretionary AUM, which directly drives revenue, sitting at $24.3 billion. The channels are built around these relationships.

Direct Relationship Managers and Portfolio Managers in Multiple US Offices

The core of the client acquisition channel involves direct interaction. You have relationship managers and portfolio managers working out of their established US footprint. This direct model is crucial, especially when you consider that as of December 31, 2024, the firm's 832 client relationships averaged $43 million in size. The firm is clearly structured to service high-net-worth individuals and families seeking comprehensive oversight.

Here's a look at the physical locations supporting this direct channel:

This network supports the firm's goal of offering institutional-quality advice with the superior service expected by wealthy individuals.

Regional Offices in Key US Markets: New York, Boston, California, and Virginia

The physical presence is concentrated in key markets, as you noted. New York serves as the headquarters. You see representation in the Northeast (Boston, New Jersey), the Mid-Atlantic (Virginia offices in Charlottesville and Richmond), and the West Coast (San Diego, California). This geographic spread helps them cover the ultra-high net worth segment efficiently.

International Presence via the New Office and MAS License in Singapore

Silvercrest Asset Management Group Inc. is actively expanding its reach beyond the US. They have established an international foothold, specifically in Asia. They now have their MAS license (Monetary Authority of Singapore).

The Singapore entity is formally registered:

This move supports their stated pursuit of initiatives to better highlight Silvercrest in the institutional and wealth markets globally.

Consultant Relations Team Targeting Institutional Mandates (e.g., OCIO)

The institutional channel is being aggressively managed through specialized teams. The firm explicitly provides Outsourced Chief Investment Officer (OCIO) services to institutions, endowments, and foundations. They see institutional assets as key to expanding AUM and profit margins.

The channel leadership has seen recent reinforcement to drive this growth:

• Appointment of Van Martin as Head of U.S. Consultant Relations in May 2025.
• Appointment of Nitish Sharma as Head of International Consultant Relations on September 8, 2025.
• The team focuses on fostering partnerships with institutional investors and consulting firms.

The focus on organic growth is evident: Silvercrest added $46.4 million in organic new client accounts in the third quarter of 2025, bringing the year-to-date total to $564 million. That's how you build the book of business, you know.

Finance: draft 13-week cash view by Friday.

Silvercrest Asset Management Group Inc. (SAMG) - Canvas Business Model: Customer Segments

You're looking at the core client base for Silvercrest Asset Management Group Inc. as of late 2025. The firm focuses on a specific, high-value clientele, which is typical for a firm emphasizing personalized service and comprehensive oversight.

The total Assets Under Management (AUM) as of September 30, 2025, stood at \$37.6 billion, split between discretionary and non-discretionary mandates. Discretionary AUM, which directly drives the firm's top-line revenue, was \$24.3 billion at that date.

Here's a breakdown of the total AUM as of the end of the third quarter of 2025:

Silvercrest Asset Management Group Inc. serves several distinct groups, which you can see reflected in the services they offer, like family office and outsourced chief investment officer (OCIO) solutions. The primary customer segments are:

• Ultra-high net worth individuals and families with significant financial assets.
• Institutional investors, including endowments and foundations.
• Trusts and other complex family entities requiring comprehensive oversight.
• Pension and profit sharing plans, representing \$2.7 billion in AUM.

The firm explicitly states it provides asset management and family office services to wealthy families and select institutional investors. Furthermore, Silvercrest Asset Management Group Inc. partners with endowments, foundations, and family offices to deliver customized, full-service investment office solutions. The overall client base includes individuals, families, trusts, endowments, foundations, and other institutional investors operating primarily in the United States. The focus on discretionary AUM, which was \$24.3 billion as of September 30, 2025, shows where the revenue-generating relationship strength lies.

To give you a sense of the recent growth trajectory for these segments, here's how the AUM looked at the start of the year:

• Total AUM at December 31, 2024: $36.5 billion.
• Discretionary AUM at December 31, 2024: $23.3 billion.

The firm maintains a high level of client commitment, reporting a 98% client retention rate.

Finance: draft 13-week cash view by Friday.

Silvercrest Asset Management Group Inc. (SAMG) - Canvas Business Model: Cost Structure

You're looking at the expense side of Silvercrest Asset Management Group Inc.'s operations as of late 2025. This is where the revenue generated from the firm's assets under management gets allocated to keep the lights on and, more importantly, to pay the people who manage that capital.

Compensation and benefits, the largest expense, totaled $83.2 million for 9M 2025. This number clearly shows that human capital is the primary cost driver for Silvercrest Asset Management Group Inc. To be fair, in an advisory business, your key resource is your talent.

The firm has been making strategic investments in new talent and business development headcount to drive future growth. For instance, in the three months ended September 30, 2025, the increase in compensation and benefits expense was primarily attributable to increases in salaries and benefits of $1.1 million due to merit-based increases and newly-hired staff, alongside an increase in the accrual for bonuses of $2.4 million. This focus on adding personnel supports their goal of securing more significant organic flows in 2025 and 2026.

General and administrative costs are the next significant bucket, reflecting the operational overhead of running a public asset manager. For the six months ended June 30, 2025, these expenses totaled $15.5 million. This category bundles several smaller but necessary expenditures, and you can see the components that drove the increase for the six months ended June 30, 2025, right here:

The firm is definitely spending to support its infrastructure. Portfolio and systems expenses are specifically tracked to support investment technology and operations. For the three months ended September 30, 2025, general and administrative expenses rose to $8.2 million, an increase of $0.9 million, or 11.9%, compared to the same period in 2024.

Here's a quick look at how the largest cost components compared across different periods:

• Compensation and benefits expense for Q3 2025 was $21.7 million.
• Compensation and benefits expense for 6M 2025 was $18.8 million for Q2 2025 alone.
• Total expenses for the nine months ended September 30, 2025, resulted in an Adjusted EBITDA margin of 18.0% of revenue (Adjusted EBITDA of $16.8 million).
• For context, total expenses for the full year 2024 were $106.0 million.

Finance: draft 13-week cash view by Friday.

Silvercrest Asset Management Group Inc. (SAMG) - Canvas Business Model: Revenue Streams

You're looking at how Silvercrest Asset Management Group Inc. (SAMG) actually brings in its money, which is almost entirely fee-based, tied directly to the assets they manage. This structure means their top-line revenue is highly sensitive to market performance, even if client flows are positive, as seen in recent quarters.

The primary engine for revenue is the management and advisory fees. For the nine months ended September 30, 2025, total revenue reached $93.36 million, which was slightly up from $91.69 million in the prior year period. This growth was explicitly driven by the increase in these core management and advisory fees.

Here's a quick look at the components making up that 9M 2025 revenue:

• Management and advisory fees, the primary source, totaled $93.4 million for 9M 2025.
• Fees derived from providing family office services (Q1 2025: $1.124 million).
• Performance fees earned on certain investment funds and alternative strategies.
• Sub-advised fund management revenue.

To give you a clearer picture of the revenue mix based on the latest detailed filings, here is the breakdown for the nine months ended September 30, 2025, which shows how the core advisory revenue dominates:

The family office services component, which you noted, was $1.124 million in Q1 2025, which translates to $3,229 thousand for the nine-month period ending September 30, 2025, as shown in the table. This category is distinct from the main management fees, which are tied to discretionary assets under management (AUM).

Performance fees and sub-advised fund revenue are less explicitly detailed as separate line items in the top-level revenue summaries for the nine-month period, but they are likely captured within the 'Silvercrest Funds' revenue line of $2.769 million for 9M 2025, or they might be part of the core management fees if they are structured as a minimum fee component. The firm's total AUM hit $37.6 billion as of September 30, 2025, which is the base upon which these recurring fees are calculated. Finance: draft 13-week cash view by Friday.