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Financial advisor · 14 min

When the market falls

Your clients' accounts just fell by a quarter. Your fee is a percent of those accounts, so it fell too. Your rent, your assistant and your insurance didn't. And your phone is ringing.

Ticket 01 · The guess

A bad quarter at a real firm

Silvercrest is a wealth management firm in New York that charges most clients a percent of the money it manages. In the last three months of 2022, its revenue was 15.7%silvercrestgroup.com ·2022 lower than in the same months of 2021. How much lower was its profit before taxes?

10%
0%100%
Words to know

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Sources and every number (2)

Sources

  • Silvercrest Asset Management Group Inc. reports Q4 and full year 2022 results (Form 8-K, Exhibit 99.1, March 2, 2023) · Silvercrest Asset Management Group Inc. (filed with the SEC; the company's investor-relations copy), 2022
  • The Jones Financial Companies, L.L.L.P. (Edward Jones), Form 10-K for the fiscal year 2022 · The Jones Financial Companies, L.L.L.P. (filed with the SEC), 2022

Every number

  • 15.7%silvercrestgroup.com ·2022 · Silvercrest's revenue in the last three months of 2022, compared with the same three months of 2021, as its results release reports the fall.
  • 62%silvercrestgroup.com ·2022 · Worked out from Silvercrest's results release: its income before income taxes in the last three months of 2022 against the same months of 2021, rounded to a whole percent.
  • $10.9Msilvercrestgroup.com ·2022 · Silvercrest's income before income taxes, the last three months of 2021.
  • $4.1Msilvercrestgroup.com ·2022 · Silvercrest's income before income taxes, the last three months of 2022.
  • $24.5Msilvercrestgroup.com ·2022 · Silvercrest's total expenses, the last three months of 2021.
  • $24.4Msilvercrestgroup.com ·2022 · Silvercrest's total expenses, the last three months of 2022.
  • $17.7Msilvercrestgroup.com ·2022 · Silvercrest's compensation and benefits, the last three months of 2021.
  • $18.7Msilvercrestgroup.com ·2022 · Silvercrest's compensation and benefits, the last three months of 2022.
  • $22.5Bsilvercrestgroup.com ·2022 · Silvercrest's discretionary assets under management at the start of the last quarter of 2021 (the end of September 2021).
  • $19.4Bsilvercrestgroup.com ·2022 · Silvercrest's discretionary assets under management at the start of the last quarter of 2022 (the end of September 2022).
  • 19%sec.gov ·2022 · The fall of the S&P stock index from the end of 2021 to the end of 2022, as Edward Jones's 2022 annual report shows it.
  • 4%sec.gov ·2022 · The S&P stock index's average level in 2022 against its average in 2021, as Edward Jones's 2022 annual report shows the change.
  • 2%sec.gov ·2022 · Edward Jones's operating expenses, 2022 against 2021, as its annual report shows the change.
  • 13%sec.gov ·2022 · Edward Jones's income before allocations to partners, 2022 against 2021, as its annual report shows the change.
  1. Lessons›
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  3. Financial advisor
  • ·Before this: Where do your first clients come from?
  • ·Free guide: How financial advisors make money
Skip to the lesson
Back to the home page and map, from TryOwning · Financial advisor · Lesson 4
Part 1 of 3Part 1 of 3, 0 done

Financial advisor · 14 min

When the market falls

Your clients' accounts just fell by a quarter. Your fee is a percent of those accounts, so it fell too. Your rent, your assistant and your insurance didn't. And your phone is ringing.

Ticket 01 · The guess

A bad quarter at a real firm

Silvercrest is a wealth management firm in New York that charges most clients a percent of the money it manages. In the last three months of 2022, its revenue was 15.7%silvercrestgroup.com ·2022 lower than in the same months of 2021. How much lower was its profit before taxes?

10%
0%100%
Words to know

Spot something wrong?

Tell us what looks off. No name or email needed.

What kind of problem?

0 / 1000

We'll also send this page, the lesson, ticket 1, so we can find it. Nothing else. Privacy

·
Sources and every number (2)

Sources

  • Silvercrest Asset Management Group Inc. reports Q4 and full year 2022 results (Form 8-K, Exhibit 99.1, March 2, 2023) · Silvercrest Asset Management Group Inc. (filed with the SEC; the company's investor-relations copy), 2022
  • The Jones Financial Companies, L.L.L.P. (Edward Jones), Form 10-K for the fiscal year 2022 · The Jones Financial Companies, L.L.L.P. (filed with the SEC), 2022

Every number

  • 15.7%silvercrestgroup.com ·2022 · Silvercrest's revenue in the last three months of 2022, compared with the same three months of 2021, as its results release reports the fall.
  • 62%silvercrestgroup.com ·2022 · Worked out from Silvercrest's results release: its income before income taxes in the last three months of 2022 against the same months of 2021, rounded to a whole percent.
  • $10.9Msilvercrestgroup.com ·2022 · Silvercrest's income before income taxes, the last three months of 2021.
  • $4.1Msilvercrestgroup.com ·2022 · Silvercrest's income before income taxes, the last three months of 2022.
  • $24.5Msilvercrestgroup.com ·2022 · Silvercrest's total expenses, the last three months of 2021.
  • $24.4Msilvercrestgroup.com ·2022 · Silvercrest's total expenses, the last three months of 2022.
  • $17.7Msilvercrestgroup.com ·2022 · Silvercrest's compensation and benefits, the last three months of 2021.
  • $18.7Msilvercrestgroup.com ·2022 · Silvercrest's compensation and benefits, the last three months of 2022.
  • $22.5Bsilvercrestgroup.com ·2022 · Silvercrest's discretionary assets under management at the start of the last quarter of 2021 (the end of September 2021).
  • $19.4Bsilvercrestgroup.com ·2022 · Silvercrest's discretionary assets under management at the start of the last quarter of 2022 (the end of September 2022).
  • 19%sec.gov ·2022 · The fall of the S&P stock index from the end of 2021 to the end of 2022, as Edward Jones's 2022 annual report shows it.
  • 4%sec.gov ·2022 · The S&P stock index's average level in 2022 against its average in 2021, as Edward Jones's 2022 annual report shows the change.
  • 2%sec.gov ·2022 · Edward Jones's operating expenses, 2022 against 2021, as its annual report shows the change.
  • 13%sec.gov ·2022 · Edward Jones's income before allocations to partners, 2022 against 2021, as its annual report shows the change.
  1. Lessons›
  2. Industries›
  3. Financial advisor
  • ·Before this: Where do your first clients come from?
  • ·Free guide: How financial advisors make money