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Silvercrest Asset Management Review

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

Silvercrest Asset Management is a fee-only financial advisor firm headquartered in New York, New York. In turn, Silvercrest is on SmartAsset’s lists of the top financial advisors in New York and top financial advisors in New York State. The independently run firm also has branches in New Jersey, Massachusetts and Virginia.

Silvercrest is a sizable financial advisor firm with a large team of financial advisors on staff. The firm primarily serves high-net-worth individuals and families.

Silvercrest Asset Management Background

Silvercrest Asset Management has been in business since 2001. It is a wholly owned subsidiary of Silvercrest L.P., a financial services company. Silvercrest’s managing directors and each of its senior portfolio managers own shares of the firm. The firm’s managing directors have spent an average of about 30 years in wealth and investment management.

Additionally, much of the staff at Silvercrest holds advisory certifications. The firm’s team includes chartered financial analysts (CFAs), certified public accountants (CPA) and certified financial planners (CFP).

Silvercrest Asset Management Client Types and Minimum Account Sizes

Most of Silvercrest Asset Management’s more than clients are high-net-worth individuals and families. Though the firm specializes in serving affluent investors, it also works with estates, trusts, charitable organizations, businesses, not-for-profit entities, Taft-Hartley plans, government plans, pension plans, municipalities, registered investment companies and private investment funds.

To work with Silvercrest Asset Management, you'll typically need to have millions to invest, though the firm doesn't state a specific investment minimum on its Form ADV.

Services Offered by Silvercrest Asset Management 

Silvercrest Asset Management primarily offers portfolio and investment management services, but it will also provide family office services under certain circumstances. Here’s a full list of what the firm can do:

  • Portfolio management
    • General financial planning
    • Estate planning
      • Philanthropic planning
      • Tax-efficient wealth transfers
      • Facilitation of relationships with clients’ accountants and attorneys
    • Full portfolio customization
    • Regular rebalances and strategy alterations
  • Investment management
    • Equity management
      • U.S. small-cap, large-cap and multi-cap
      • Equity income
      • Non-U.S. developed market equity
      • Real estate investment trusts (REITs)
      • Master limited partnerships (MLPs)
    • Fixed-income management
      • Municipal bonds
      • Government/corporate bonds
    • Outsourced investments
      • Proprietary portfolio diversification
  • Family office services
    • Consolidated reporting
      • Aggregate data reports of your various investments
      • Insights into performance, liquidity, risk, asset allocation and more
    • Wealth planning
    • Tax planning
    • Personal accounting
      • General accounting
      • Budgeting and cash forecasts
      • Bill pay
      • Medical insurance administration
      • Domestic employee payroll management

Silvercrest Asset Management Investment Philosophy

Equity management and fixed income strategies dominate Silvercrest Asset Management’s investment approach. If you and your advisor decide on equity management, your assets will be invested in more conservative, long-term investments in an effort to reduce turnover. Within this management style alone, Silvercrest offers 11 different portfolio strategies that include the following investment types:

  • Large-cap: equities of companies worth $2 billion or more
  • Small-cap: equities of companies worth between $200 million and the upper end of companies in the Russell 2000 Index 
  • Equity income: equities of companies with a target yield of 150% of the S&P 500
  • Multi-cap: equities of large-cap and small-cap companies
  • SMID-cap: equities of companies with market capitalizations between $200 million and $15 billion
  • Focused value: equities of large-cap and small-cap companies that the firm’s research shows are “high conviction investments”
  • Small-cap concentrated: equities of only small-cap companies that the firm’s research shows are “high conviction investments”
  • Core international: equities of 25-35 international companies with “sustainable competitive advantages”
  • Liquid hedge portfolio advisory: mutual funds and exchange-traded funds (ETFs)
  • Real estate investment trust: publicly traded REITs
  • Master limited partnership: traded master limited partnerships with market capitalizations of $1 billion or more

On the other hand, fixed-income management has just three separate strategies to choose from. Although fixed income investments tend to be long-term, Silvercrest sometimes chooses to diversify these portfolios with a short to intermediate duration in mind. These strategies include investments like:

  • Municipal value: municipal bonds with capital preservation, plenty of federal tax-exempt income and short to intermediate duration characteristics
  • Investment grade municipal bond: high-grade fixed-income securities
  • Taxable bond/credit fixed-income: high-grade fixed-income securities that are “positioned to generate total returns in excess of the Barclays Capital Government/Credit index”

Fees Under Silvercrest Asset Management

Silvercrest Asset Management charges clients based on a percentage of assets under management. The firm charges different rates depending on the portfolio type, and in some instances, it reduces rates as the amount of assets under management increases. Silvercrest Asset Management charges clients quarterly. In contrast to most firms that charge clients in arrears, payments are due in advance of the upcoming quarter. 

The firm states that the below fee rates may be negotiable to a certain extent. However, it also stipulates that this policy usually only applies to clients who have extremely large amounts of assets under management.

Fees for Separately Managed Accounts (SMAs)
Portfolio Type Annual Fees
Managed equity and balanced
  • First $10MM: 1.00%
  • Above $10MM: 0.60%
Managed fixed-income only
  • First $10MM: 0.40%
  • Above $10MM: 0.30%
Managed cash only
  • 0.20% on all assets
Silvercrest municipal value strategy
  • 0.65% on all assets

What to Watch Out For

There are no disclosures listed on Silvercrest Asset Management’s SEC-filed Form ADV.

Opening an Account With Silvercrest Asset Management

New York City is home to Silvercrest Asset Management’s principal office, but the firm also has five other branches, including two in New Jersey, two in Virginia and one in Massachusetts. If you live anywhere near these locations, feel free to stop by and talk to an advisor in person. Prospective clients can also reach Silvercrest over the phone at (212) 649-0600 or via email.

All information is accurate as of the writing of this article.

How to Up Your Investment Game

  • Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
  • Diversification is key to protecting your portfolio in the face of market downturns. Although some investments are going to look irresistible, don’t bet too heavily on any one area of the market.

How Long $1mm Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research