Strategic Global Expansion and Distribution Milestones
Opened Atlanta and Singapore offices in Q1 2026; reorganized international business development with dedicated professionals in London and Australia; Dublin office planned to open later in 2026 pending Bank of Ireland approval; created investment trusts in Ireland and Australia to expand distribution across Europe and Oceania.
Strong Investment Performance and Robust Pipeline
Management reports top-tier, well-beyond-top-quartile performance across global, international and emerging markets strategies; new business pipeline described as 'in the billions' with strong institutional interest and consultant engagement that management expects to convert to mandates.
AUM — Year-over-Year Growth
Discretionary AUM grew nearly 2% year-over-year to $23.1 billion (from $22.7 billion as of 3/31/2025); total AUM increased 1.1% year-over-year to $35.7 billion (from $35.3 billion).
Q1 Organic New Client Flows
Organic new client account flows of $81 million in Q1 2026, primarily from high net worth investors.
Adjusted Profitability Metrics
Adjusted EBITDA of approximately $3.7 million, representing 11.8% of revenue; adjusted net income ~ $1.5 million, with adjusted EPS of $0.13 (basic) and $0.12 (diluted).
Capital Return to Shareholders
Board declared quarterly dividend of $0.21 per Class A share; completed repurchases of Class A shares totaling ~$1.9 million in Q1, completing the previously announced $25 million repurchase plan; management highlighted ~ $87 million total buybacks over past 5 years and a shareholder yield of ~21–23% for 2025.
Deliberate Long-Term Investment Program
Company is executing the largest investment program in its history (begun ~1.5 years ago) focused on intellectual capital and headcount to build global capabilities and succession planning; management emphasizes this is deliberate and expected to produce durable long-term returns.