US Brokerage Stocks Facing A New Crypto Perpetual Futures Test

The sudden approval of highly leveraged perpetual futures for US retail traders has put exchanges and brokerage firms under a brighter spotlight. As platforms like Kalshi and Coinbase roll out these risky crypto products under relatively light regulation, trading activity and volatility are already in focus. For investors in listed US exchanges and brokers, the key question is which stocks could benefit from new fee streams and order flow, and which might face higher regulatory and risk management costs. This article walks through 3 stocks from the screener that appear particularly exposed to this news.

Silvercrest Asset Management Group (SAMG)

Overview: Silvercrest Asset Management Group is a New York based wealth manager that provides investment advice and family office services to ultra high net worth individuals, their trusts, and institutions such as endowments and foundations across the United States.

Operations: Silvercrest generates about US$125.3 million in revenue from investment management activities in the United States.

Market Cap: US$117.9 million

Silvercrest Asset Management Group is a pure play on wealthy clients who often seek guidance when markets become more complex and new products like leveraged perpetual futures attract attention. Recent earnings have come under pressure and margins are currently thin. Analysts have published expectations of strong earnings growth and see potential upside if their forecasts are met, even as revenue growth is steadier. The stock trades below one estimate of fair value, with a P/E below broader capital markets peers. It also carries risks related to fee compression, outflows and relatively high funding reliance. For investors following the surge in trading activity and product complexity, Silvercrest offers a mix of income characteristics, growth opportunities and execution risk that may merit closer examination beyond the headlines.

Silvercrest’s thin margins and below peer P/E suggest that expectations and current pricing may be out of sync, and the crucial twist might sit inside the analyst forecasts for Silvercrest Asset Management Group

Patria Investments (PAX)

Overview: Patria Investments is a private markets asset manager that raises capital from institutions and wealthy investors to put into private equity, infrastructure, credit, real estate and secondary funds across Latin America, North America, Europe and other regions.

Operations: Patria generates about US$399.23 million in revenue from asset management activities.

Market Cap: US$1.75b

Patria Investments may appeal to investors seeking exposure to alternative assets, with fee paying assets under management diversified across private equity, infrastructure and credit funds that aim to offer inflation-resistant returns. The company has published strong earnings growth forecasts and a pipeline of secondary funds, such as its latest secondary opportunities vehicle that attracted more than US$670 million of commitments, which management indicates could support higher fee income over time. At the same time, funding relies fully on external borrowings, dividend payouts are not well covered by earnings and recent results included a large one-off loss that highlights profit volatility. For investors monitoring how new products like leveraged perpetual instruments feed demand for differentiated return streams, Patria’s combination of potential upside with funding, governance and regional risks may warrant closer attention.

Patria’s accelerating pipeline and secondary funds story can look compelling, but the full picture of fees, funding and payout pressure sits inside the 3 key rewards and 2 important warning signs, where one detail could change how you view the stock

Wealthfront (WLTH)

Overview: Wealthfront is a digital wealth management company that offers automated investing, cash management, and lending products to primarily younger, tech oriented clients, as well as high net worth individuals, charities, and corporations, using in house research to build portfolios of public equities, fixed income, mutual funds, and ETFs.

Operations: Wealthfront generates about US$371.0 million in asset management revenue, all from clients in the United States.

Market Cap: US$1.38b

Wealthfront stands out in this screener because its tech focused client base is already comfortable trading online and could be early adopters if the platform decides to offer new products linked to leveraged crypto perps, while still using its core automated portfolios and cash tools. The company recently reported record platform assets and growing cross product adoption. However, profitability has been inconsistent and return on equity is currently weak, even as analysts expect earnings to improve. With index inclusions, a completed buyback and new features such as custodial and education accounts, Wealthfront becomes a stock where the headline numbers only tell part of the story that informed investors may want to explore in more detail.

Wealthfront’s accelerating platform story and tech oriented client base hint at more than just robo advice. To see how expectations are lining up against the numbers, start with the analyst forecasts for Wealthfront

The 3 exchanges and brokerage stocks covered here are only a starting point, with the full US Exchanges and Brokerage Firms screener uncovering 12 more companies in the US Exchanges and Brokerage Firms screener that share equally compelling narratives around market structure, derivatives access, and crypto linked products. Use Simply Wall St to identify and analyze the specific catalysts, risk flags, and funding profiles that matter most to you so you can focus on the highest conviction opportunities in this space.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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