Firm Performance Report

Client Retention: 100% (2024) Standardized Operating Margin: 36.5% (2024)

AUM CAGR

Revenue CAGR

Clients CAGR

Net Flows CAGR

Growth Over Time

Sources of AUM Growth by Year

Revenue Yield & Operating Margin

Expense Structure

Client Capacity & Productivity

Strategic Initiatives

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Derived Metrics (Formula-Based)

AUM/Client Efficiency

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AUM CAGR ÷ Client CAGR

Net-Flow Share of AUM Growth

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5-yr aggregate attribution

Service Cost as % of Revenue

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(Client-service bps ÷ Yield bps)

AUM per Client CAGR

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2019–2024

Revenue per Client CAGR

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2020–2024

New vs. Total Clients

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New per professional ÷ Clients per professional (2024)

Retention Drag

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Client attrition (2024)

AUM Growth Attribution — 5-Year Mix

Net-Flow Share of AUM Growth by Year

Assets per Client — Growth Index (2019=100)

Revenue per Client — Growth Index (2020=100)

Cost per $1M AUM (bps) — By Function

Converted to bps: $ per $1M → bps = amount ÷ 10,000.

Revenue Yield vs. Service Cost (bps)