Silvercrest profit plunges 49% as compensation surges, client outflows accelerate

Filed March 16, 2026 · Period ending December 31, 2025 · Compared to 10-K Mar 6, 2025 · ~2 min read

Key Changes

• high

  Net income fell 49% to $8.1M despite 1.3% revenue growth, as compensation expense jumped 9.9% to $82.1M. Adjusted EBITDA margin compressed 540bps to 15.7%, reflecting deteriorating operating leverage.

  MD&A: Financial Results verify on EDGAR →
• high

  Client outflows accelerated to $6.2B (net outflows $1.6B), up from $5.7B prior year. Average management fee declined to 0.34% from 0.35%, continuing multi-year compression trend.

  MD&A: AUM Flows verify on EDGAR →
• high

  Large Cap Value, Small Cap Value, and Smid Cap Value strategies all underperformed benchmarks in 2025 after strong 2024 results. Small Cap strategies posted negative absolute returns.

  Business: Performance Data verify on EDGAR →