Silvercrest Asset Management Group LLC (New York)


Silvercrest Asset Management Group LLC is a large advisory firm based in New York. It manages $19.03 billion of regulatory assets for 1,218 client accounts. It has been registered with the SEC as an adviser since 2002 and has operated in the jurisdictions of Arizona, California, Connecticut, and 33 other states.

Silvercrest Asset Management Group provides financial planning services, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, and selection of other advisers. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Silvercrest Asset Management Group: assets under management

The assets under management (AUM) of Silvercrest Asset Management Group LLC is $19.03 billion. The firm's AUM has grown by 1591% since the beginning of its operation, and $613.8 million of the total AUM is attributable to clients outside of the United States.

The firm manages $14.24 billion in discretionary accounts and $4.79 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $11.95 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $184.14 million.
Silvercrest Asset Management Group has custody of $4.09 billion in cash and securities for 1,413 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 58% of the total AUM. The second-largest asset type is pooled investment vehicles, which make up 14% of the firm’s portfolio. Investments in state and local bonds form 11% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Silvercrest Asset Management Group LLC for their services and products based on a percentage of assets under management, fixed fees, and performance-based fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Silvercrest Asset Management Group serves?

The firm provides services to insurance companies, investment companies, charitable organizations, high net worth individuals, pooled investment vehicles, banking or thrift institutions, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Silvercrest Asset Management Group is high net worth individuals with 1,093 clients and $14.42 billion of assets under management. Among the 9 most similar advisory firms, Silvercrest Asset Management Group has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $19.03 billion for 1,218 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 2% of the firm’s clients are foreign persons or businesses.

Silvercrest Asset Management Group also advises several private funds. Namely, fourteen hedge funds and four other private funds. The minimum investment commitment required of non-related persons ranges from $500,000 to $1,000,000.

Careers at Silvercrest Asset Management Group LLC

The company employs 129 people that are either part- or full-time employees. 35 percent of the employees work as investment advisers or researchers. 21 employees are registered as investment adviser representatives with the state securities authorities.

There are 22 people with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
G Moffett Cochran Ceo/bd/member 1 Oct 2001 25% - 50% 2264835
Martin Jaffe Coo/bd/member 1 Oct 2001 25% - 50% 867822
George Moffett Cochran Ceo/bd/member 1 Oct 2001 Other 2264835
L.P. Rosemont Partners I Member 1 Dec 2001 Other 06-1572887
Kamens Trustee Irr Trust Of S. Kimmel 12/7/01 Member 1 Dec 2001 Other xxx-xx-xxxx
Matthew Henry Kamens Bd 1 Dec 2001 Other 1795572
Charles B. Burkhart Bd 1 Dec 2001 Other 4511598
Rogert Vogel Managing director 1 Jun 2002 Other 4634685
Roger W. Vogel Managing director 1 Jun 2002 Other 4634685
Albert Sebastian Messina Managing director, bd, member 1 Jul 2004 Other 1171467
Cathy Ann Jameson Managing director, bd, member 1 Oct 2006 Other 868963
Vulcan Wealth Management Llc Member 1 Apr 2007 25% - 50% 20-8584321
David Nicholas Capobianco Bd 1 Apr 2007 Other 1979556
James M Robinson General counsel 1 Nov 2007 Other 5502553
David Westbrook Cfo 1 Nov 2007 Other 5502571
James Mckee Robinson General counsel 1 Nov 2007 Other 5502553
James Mckee Robinson General counsel/secretary/chief compliance officer 1 Jun 2008 Other 5502553
Martin Jaffe Vice chairman/bd/member 1 Jul 2008 Other 867822
Silvercrest L.P. Managing member 1 Jan 2009 75% - 100% 26-3854106
Thomas Geoffrey Mckay Member 1 Jan 2009 Other 2931453
Kim Michelle Campione Chief compliance officer 1 Aug 2009 Other 1133247
David John Campbell Chief compliance officer 1 Nov 2009 Other 1869496
Scott Andrew Gerard Chief financial officer 1 Feb 2010 Other 5764999
Richard Ralston Hough Chief operating officer and president 1 Jan 2012 Other 2947351
Albert Sebastian Messina Managing director 1 Jun 2013 Other 1171467
Richard Ralston Hough President, and chief executive officer 1 Nov 2013 Other 2947351

Indirect Owners

The SEC currently registers 9 indirect owners.

Name Entity Date acquired Ownership Employer ID
Llc Rosemont Investment Partners Gp 1 May 2000 Other 06-1582950
Charles B. Burkhart Managing member 1 May 2000 75% - 100% 4511598
Kbc Bank N.V. Lp 1 Jan 2001 25% - 50% foreign
Vulcan Capital Private Equity Inc Member 1 Dec 2004 75% - 100% 68-0597670
Paul G. Allen Chairman 1 Dec 2004 75% - 100% 5338518
Vulcan Capital Private Equity I Llc Member 1 Mar 2007 75% - 100% 68-0597675
Silvercrest Gp Llc General partner 1 Jan 2009 Other 26-3853993
Vulcan Wealth Mgmt Llc Limited partner 1 Jan 2009 25% - 50% 20-8584321
Silvercrest Asset Management Group Inc. General partner 1 Jun 2013 Other 45-5146560

Based in New York

The principal office where Silvercrest Asset Management Group LLC performs its advisory services is located at 1330 Avenue Of The Americas, New York, NY 10019 5400, which is also the mailing address of the firm. An additional office of the firm is in Boston, MA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-649-0600 or by fax 212-649-0606. The normal business hours are 9:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at silvercrestgroup.com.