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Silvercrest Asset Management Group Inc. (SAMG) CEO Rick Hough on Q2 2021 Results - Earnings Call Transcript

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Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) Q2 2021 Earnings Conference Call July 30, 2021 8:30 AM ET

Company Participants

Rick Hough - Chairman & Chief Executive Officer

Scott Gerard - Chief Financial Officer

Conference Call Participants

Sumeet Mody - Piper Sandler

Sandy Mehta - Evaluate Research

Chris Sakai - Singular Research

Christopher Marinac - Janney Montgomery Scott

Operator

Good morning, and welcome to the Silvercrest Asset Management Group Inc. Second Quarter 2021 Earnings Conference Call. [Operator Instructions] Please note this event is being recorded.

Before we begin, let me remind you that during today's call, certain made statements regarding the future performance are forward-looking statements. They are based on the current expectations and projections, which are subject to a number of risks and uncertainties, and many factors, could cause actual results to differ materially from the statements that are made.

Those factors are disclosed in the filings with the SEC under the caption Risk Factors. For all such forward-looking statements, we claim the protections provided by the Litigation Reform Act of 1995. All forward-looking statements made on this call are made as of date hereof, and Silvercrest assumes no obligation to update them.

I would now like to turn the conference over to Rick Hough, Chairman and CEO of Silvercrest. Please go ahead.

Rick Hough

Thanks very much. Good morning, everyone. Silvercrest is pleased to report strong results for the second quarter of 2021. The firm's discretionary assets under management, which drives revenue, increased 4.6% during the quarter to reach $22.9 billion, which represents a new high and a year-over-year increase of 32.4%.

The firm's total AUM grew to $31 billion. Silvercrest concluded the quarter with $33.1 million in revenue, and the firm's adjusted EBITDA for the second quarter was $10.4 million, or a year-over-year increase of 56.7%.

Adjusted diluted

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