Victory Capital Holdings, Inc. (NASDAQ:VCTR) Q3 2023 Earnings Call Transcript

We’ve invested in some proprietary databases that are really making them more effective in the field and utilizing the data that we’re capturing from the market from certain dealers. So that’s the reference that we’re using from an AI perspective, it’s really to support our distribution efforts as well as supporting the investment franchises just with providing them more information and more data.

David Brown: Yes. And it’s Dave. I’d like to add one thing is our platform is so unique, which I think you can see from the margins and how we’ve performed in a really tough industry environment and having guidance at 49%. But one of the things that we think is pretty unique is our investments and the dollars that we invest, I think are as efficient as anybody in the industry given the way we’re structured in our platform and how we’re scaled at the size we’re at. And these investments we’re making are very applicable to multiple distribution channels to multiple parts of our business. Our platform isn’t complex. And our margins this quarter are 51.1%, and I went through the statistics of 13 straight quarters above 49, nine of them 50% or more.

I just think that we have a really unique platform with a great group of employees executing it with a great culture. So when we think about investing, we love to invest. There’s lots of places to invest. We’re just getting a lot of bang for our buck, if you will.

Michael Cho: Perfect. Thanks guys.

Operator: There are no further questions at this time. I will now turn the call over to David Brown for closing remarks.

David Brown: Thank you and thanks for your interest in Victory Capital. Next month, we’ll be attending the Goldman Sachs Financial Services Conference in New York City, which is on December 6th, and I look forward to seeing some of you there. Have a great day, and thank you.

Operator: This concludes today’s conference call. You may now disconnect.