Silvercrest's expenses for the year grew by $10.6 million or 24 per cent to $54.1 million. This was largely attributed to a $9.9 million rise in compensation and benefits expenses, which was brought on by a $10.4 million increase in the accrual for partner incentive bonuses.

Net client inflows of $0.7 billion, supported by market appreciation of $1.5 billion, helped Silvercrest boost its assets under management by 14 per cent over the course of the year to $17.9 billion, of which discretionary assets made up the bulk at $11.6 billion.

The adjusted EBITDA margin grew a slight 1.6 per cent to 30.4 per cent while adjusted basic earnings per share stood at $0.87 at the end of the year, up from $0.64 in 2013.

“Silvercrest successfully obtained meaningful new assets, contributing to the firm's organic growth, for the fourth quarter ended December 31, 2014, along with increased revenue. The fourth quarter represented the sixth straight quarter of positive organic growth generated by new ultra-high net worth and institutional business. The firm's relationships increased to 538 as of December 31, 2014 from 483 as of December 31, 2013,” Silvercrest said in the results statement.