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SEI Investments Company (NASDAQ: SEIC) is a prominent global provider of investment processing, management, and operations solutions. The company extends its services to corporations, financial institutions, advisors, and ultra-high-net-worth families, helping them to build and manage wealth effectively. With a focus on delivering technology and investment solutions, SEI aims to connect and optimize the financial services industry.
SEI operates through four key business segments: private banks, investment advisors, institutional investors, and investment managers. Additionally, SEI holds a minority interest in LSV Asset Management, which manages around $99 billion in assets. As of December 2023, SEI, including LSV, oversees approximately $1.4 trillion in assets. SEI's offerings include investment processing, management, and operations services designed to enhance efficiency and drive growth for its clients.
In recent developments, SEI announced its third-quarter 2023 earnings on October 25, 2023, showing strong financial performance with diluted earnings per share reaching $0.87, reflecting positive sales activity and sound expense management. The company remains focused on strategic growth and managing expenses diligently across its operations.
SEI's innovative approach includes partnerships to enhance its capabilities. For instance, in February 2024, SEI announced a strategic investment of $10 million in TIFIN, an AI innovation platform in wealth management. This collaboration aims to leverage SEI's scale and technology to drive personalized client experiences and business growth.
Moreover, SEI has expanded its services in the cybersecurity realm through SEI Sphere®, providing comprehensive cybersecurity and IT solutions. In March 2024, SEI Sphere was selected to manage IXS Holdings, Inc.'s cybersecurity and network operations to enhance operational efficiency and security.
SEI continues to demonstrate resilience and strategic focus, with its first-quarter 2024 financial results showing diluted earnings per share of $0.99. The company's strong financial position and broad capabilities enable it to deliver long-term value for clients and shareholders.
For more information, visit seic.com.
SEI (NASDAQ:SEIC) announced the expansion of its strategic partnerships by adding Nifty, Jump, and TIFIN Wealth to enhance its advisor services platform. These new partnerships aim to provide advisors with discounted access to essential business tools and services, including:
- Jump's AI Meeting Assistant for reducing administrative time and enhancing client meetings
- Nifty Advisor Support for digital marketing, client servicing, and financial planning solutions
- TIFIN Wealth's personalized investment proposal platform with risk alignment and goals-based planning
The expansion is designed to help advisors reduce costs, save time, increase operational efficiency, and focus more on client relationships. SEI recently made a strategic investment in TIFIN in February 2024, demonstrating its commitment to strengthening its wealth management ecosystem.
SEI Investments Company (NASDAQ: SEIC) reported strong fourth-quarter 2024 financial results, with significant growth across key metrics compared to Q4 2023. Revenue increased 15% to $557.2 million, while operating income grew 43% to $145.5 million. The company achieved a 31% increase in EPS to $1.19, marking the second consecutive quarter of significant growth.
Net sales events for Q4 2024 reached $38.2 million, bringing full-year 2024 net sales events to $127.9 million, a 58% increase versus 2023. All business segments showed improved performance, with Private Banks seeing 56% operating profit growth, Investment Advisors 47%, and Investment Managers 26%. Operating margins improved to 26%, up from 21% in Q4 2023.
The company actively managed capital, repurchasing 3.1 million shares for $259.5 million during Q4 2024 at an average price of $83.43 per share.
SEI (NASDAQ:SEIC) announced three key leadership appointments in Luxembourg as part of its strategic global expansion. The company currently ranks seventh among 129 fund administrators in Luxembourg for assets under administration (AUA) and holds the position of largest private credit fund administrator globally.
The new appointments include Claire Matteucci as Head of Depositary, Manuel Martin de Rosales as Conducting Officer responsible for compliance and risk, and Laurent Scherer as Business Development Director. All three executives bring approximately two decades of industry experience each and will report to Ian MacWilliams, Managing Director of SEI's Luxembourg office.
SEI maintains operational centers in Oaks, PA, London, Dublin, and Luxembourg, providing an integrated operational platform. The company recently surpassed $1.5 trillion in alternative AUA in its Investment Managers business and has opened new office space in Dublin to support its global growth initiatives.
SEI (NASDAQ: SEIC) has announced it will release its fourth-quarter 2024 earnings on Wednesday, January 29, 2025, after market close. The company will host a conference call at 5 p.m. Eastern time to discuss the financial results. Both analysts and investors can participate in the call by completing a registration form, while the general public can access the live call and its replay through the company's investor relations website at ir.seic.com/events-presentations/events.
SEI (NASDAQ: SEIC) and Attivo Investments announced a strategic partnership implementing SEI's Co-CIO solution to deliver scalable investment services. The partnership aims to support Attivo's in-house team in developing investment approaches while providing business growth support. The UK market for discretionary managed portfolio services has shown significant growth, with a 36% increase in the 12 months before September 2024.
The partnership introduces three portfolio models for Attivo's clients: Low Cost (six preservation and accumulation strategies using passive investments), Core (seven strategies focusing on preservation, accumulation, and withdrawal), and APEX (six unconstrained strategies for high-net-worth investors including private equity and hedge funds).
SEI (NASDAQ: SEIC) has announced the launch of depositary services for Luxembourg alternative investment funds (AIFs). The company's depositary assets have grown significantly from $17 billion in 2018 to $100 billion in 2024, currently serving over 430 funds. SEI holds leading positions as the largest fund administrator for U.S.-managed private market funds in Luxembourg and the largest private credit fund administrator globally by assets.
The new Luxembourg depositary services will complement SEI's existing offerings, including fund administration, registrar and transfer agent, and regulatory reporting services. The company provides services such as cash flow monitoring, oversight, ownership verification, and safekeeping of assets. SEI has been providing depositary services in Ireland for 25 years, where it is the largest non-bank depositary by AUM.
SEI recently surpassed $1.5 trillion in alternative assets under administration and has operational centers in Oaks, PA, London, Dublin, and Luxembourg.
SEI Investments Company (NASDAQ: SEIC) has announced a semi-annual dividend increase from $0.46 to $0.49 per share. The dividend was declared by the Board of Directors on December 12, 2024. Shareholders of record as of December 27, 2024, will receive the cash dividend payment on January 8, 2025. This represents a 6.5% increase from the previous semi-annual dividend.
SEI (NASDAQ:SEIC) has filed an exemptive application with the SEC to establish an ETF multi-share class structure for mutual funds it administers and distributes. This initiative aims to provide investment flexibility and growth opportunities for investment advisors using SEI's Advisors' Inner Circle (AIC) platform.
Unlike most applications filed by investment advisors, SEI's application is filed through its mutual fund administration and distribution subsidiaries. If approved, investment advisors using SEI's AIC platform can leverage SEI's exemption without filing their own applications, saving costs and time.
The AIC platform currently serves 45 clients and 121 funds with over $100 billion in assets under management as of September 30, 2024.
SEI (NASDAQ: SEIC) has acquired Boston-based tax-smart technology provider LifeYield, becoming the first in the industry to offer real-time, automated unified managed household (UMH) capabilities in a fully bundled overlay solution. The integration will enable tax-efficient investing at scale, providing comprehensive UMH capabilities including asset location, tax-loss harvesting, and withdrawal optimization across multiple household accounts.
The acquisition builds upon their 2022 strategic partnership and will integrate LifeYield's APIs into the SEI Wealth Platform. This move aims to serve the growing demand for tax management and personalized portfolio management, particularly targeting Millennials, Gen X, and retiring baby boomers. According to Cerulli, 86% of financial advisors consider quantifying and reporting tax management's impact essential for their business.
SEI (NASDAQ:SEIC) and the Philadelphia Phillies have announced their second annual mural contest for Citizens Bank Park during the 2025 MLB season. Local artists are invited to submit concepts around the theme of 'Connecting Communities' by February 14, 2025.
The winning artist will receive a $10,000 cash prize and have their mural displayed above Ashburn Alley, along with promotional opportunities and on-field recognition. First and second runners-up will receive game tickets, and all submissions may be considered for display at SEI's headquarters. The organizations will make a charitable contribution from their co-branded fund, and the mural will be relocated to SEI's Oaks headquarters after the season.
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