Welcome to our dedicated page for SEI Investments Co news (Ticker: SEIC), a resource for investors and traders seeking the latest updates and insights on SEI Investments Co stock.
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) has announced the launch of SEI Data Cloud, in partnership with Snowflake, to meet the growing demand for advanced data integration in the financial services sector. This scalable, cloud-based platform offers features like real-time data access, business alerts, and Analytics-as-a-Service. Initially, it will enhance the SEI Wealth Platform for clients, with two early adopters already on board. This initiative underscores SEI's commitment to delivering innovative solutions that drive revenue growth and support clients' data needs.
On August 17, 2022, SEI (NASDAQ: SEIC) appointed Sandy Ewing as Executive Vice President to lead its Family Office and Regulatory Services. Ewing, a 27-year veteran at SEI, will work on growth strategies across existing and new markets. SEI's Family Office Services provides technology and outsourced solutions for family offices and alternative asset managers, while Regulatory Services aids investment managers with compliance needs. Ewing's extensive experience will be pivotal in addressing the evolving financial services landscape, enhancing SEI's growth trajectory.
SEI (NASDAQ: SEIC) launched the Growth Lab, a digital practice management hub aimed at enhancing the value independent advisors provide to clients. The platform emphasizes four key themes: foundations for growth, lead generation, opportunity conversion, and technology scaling. It offers actionable tools, video instruction, and plans to introduce peer-to-peer growth communities for sharing insights among advisors. As of June 30, 2022, SEI manages approximately $1.3 trillion in assets, underscoring its significant role in the financial services industry.
SEI Investments Company (NASDAQ:SEIC) reported Q2 2022 earnings with diluted EPS at $0.81, down 13% from $0.93 in Q2 2021. Revenues rose 1% to $481.67 million, while net income decreased 17% to $111.28 million. Despite facing market challenges and increased operational expenses, revenue grew by 14% to $1.06 billion for the first half of 2022, driven by strong performance in the Private Banks segment.
Investments in new businesses showed positive growth, but overall, the company expects pressures due to capital market conditions and inflation.
SEI Investments Company (NASDAQ: SEIC) will release its second-quarter 2022 earnings on July 20, 2022, after market close. A conference call will follow at 4:30 p.m. Eastern Time to discuss the financial results. The public can listen to the call and access replays via the SEI website. As of March 31, 2022, SEI managed approximately $1.3 trillion in assets across investment processing, operations, and asset management.
SEI (NASDAQ: SEIC) has launched the SEI Strategies featuring Dimensional, a suite of model portfolios using ETFs from Dimensional Fund Advisors. This initiative aims to enhance investment flexibility for independent advisors and registered investment advisors (RIAs) via the SEI Wealth Platform. The six model portfolios address various investment goals and risk levels, integrating SEI's asset allocation with Dimensional's ETFs. The partnership focuses on meeting growing investor demands for personalized wealth management.
SEI (NASDAQ: SEIC) has announced its commitment to accelerate growth in the registered investment advisor (RIA) market, supported by a comprehensive range of services and solutions. SEI has appointed Gabriel Garcia as the Head of RIA Client Experience to drive strategy. With over $29 billion in RIA assets under custody, SEI emphasizes integrated technology and custody solutions, open-architecture investment platforms, and business consulting services. The company's focus is on providing personalized support to RIAs, enhancing their ability to grow and adapt in a changing financial landscape.
SEI (NASDAQ: SEIC) has appointed Sanjay Sharma as the leader of its Private Banking business segment, effective immediately. With over 25 years of experience in financial services, Sharma's focus will be on driving growth via technology, operational, and investment solutions for wealth management organizations in the U.S. and U.K. Previously, he served as Chief Technology Officer at SEI, where he oversaw IT strategy and platform delivery. CEO Ryan Hicke emphasized that Sharma's expertise aligns with SEI's commitment to leveraging technology for business growth.
SEI (NASDAQ:SEIC) announced a new strategy to enhance talent attraction and development, launching a voluntary separation program for long-tenured employees. This program aims to provide professional development opportunities and increase advancement for existing and new talent. Eligible employees in the U.S. can choose to participate until early July 2022, with departures expected before year-end. The financial impact of this program will be reflected in the third-quarter results. CEO Ryan Hicke emphasized the need for this change to foster growth and diverse perspectives within the company.
Vontobel has partnered with SEI Trust Company to launch a suite of Collective Investment Trusts, enhancing investor access to reliable retirement solutions. This initiative features four strategies: Vontobel International Equity Trust, Vontobel Global Equity Trust, Vontobel Emerging Markets Equity Trust, and Vontobel US Equity Trust. The Quality Growth Boutique at Vontobel aims for absolute returns and risk mitigation through stable growth investments. The low-cost CIT structure is expected to improve investment outcomes for retirement participants, aligning with growing demand for such vehicles.
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