SEI Reports Fourth-Quarter 2024 Financial Results
OAKS, Pa., Jan. 29, 2025 /PRNewswire/ -- SEI Investments Company (NASDAQ: SEIC) today announced financial results for the fourth quarter 2024. Relative to the fourth quarter 2023, EPS increased by 31%, and revenue and operating income grew by 15% and 43%, respectively, with operating margins increasing to 26%.
Consolidated Overview | ||||||
(In thousands, except | For the Three Months | For the Twelve Months | ||||
2024 | 2023 | % | 2024 | 2023 | % | |
Revenues | $557,190 | $484,858 | 15 % | $2,125,151 | $1,919,793 | 11 % |
Operating income | 145,544 | 101,684 | 43 % | 551,741 | 424,524 | 30 % |
Operating margin | 26 % | 21 % | 25 % | 26 % | 22 % | 17 % |
Net income | 155,771 | 120,731 | 29 % | 581,191 | 462,258 | 26 % |
Diluted earnings per share | $1.19 | $0.91 | 31 % | $4.41 | $3.46 | 27 % |
"Our record 2024 results reflect consistent execution against our growth strategy, particularly the progress we have driven in the last 18 months. Our net sales events in 2024 increased 58% from 2023—representing a mix across our entire organization and reinforcing the high level of market engagement for our enterprise capabilities," said CEO Ryan Hicke.
"We are focused on maximizing our return on invested capital across our segments and solutions globally. SEI has real momentum, and our employees' commitment to delivering for our clients and embracing an enterprise-first mindset has been core to igniting that momentum. We're excited for what's ahead in 2025 and to continue delivering long-term value for our stakeholders."
Summary of Fourth-Quarter Results by Business Segment | ||||||
(In thousands) | For the Three Months | For the Twelve Months | ||||
|
Private Banks: | 2024 | 2023 | % | 2024 | 2023 | % |
Revenues | $140,142 | $123,337 | 14 % | $541,414 | $496,317 | 9 % |
Expenses | 120,414 | 110,656 | 9 % | 460,375 | 448,490 | 3 % |
Operating Profit | 19,728 | 12,681 | 56 % | 81,039 | 47,827 | 69 % |
Operating Margin | 14 % | 10 % | 15 % | 10 % | ||
Investment Advisors: | ||||||
Revenues | 139,267 | 109,719 | 27 % | 509,408 | 436,298 | 17 % |
Expenses | 76,839 | 67,138 | 14 % | 282,902 | 259,142 | 9 % |
Operating Profit | 62,428 | 42,581 | 47 % | 226,506 | 177,156 | 28 % |
Operating Margin | 45 % | 39 % | 44 % | 41 % | ||
Institutional Investors: | ||||||
Revenues | 70,812 | 69,794 | 1 % | 285,723 | 289,708 | (1) % |
Expenses | 38,315 | 39,118 | (2) % | 154,701 | 165,455 | (6) % |
Operating Profit | 32,497 | 30,676 | 6 % | 131,022 | 124,253 | 5 % |
Operating Margin | 46 % | 44 % | 46 % | 43 % | ||
Investment Managers: | ||||||
Revenues | 191,262 | 168,571 | 13 % | 728,390 | 645,254 | 13 % |
Expenses | 118,130 | 110,713 | 7 % | 453,085 | 419,196 | 8 % |
Operating Profit | 73,132 | 57,858 | 26 % | 275,305 | 226,058 | 22 % |
Operating Margin | 38 % | 34 % | 38 % | 35 % | ||
Investments in New Businesses: | ||||||
Revenues | 15,707 | 13,437 | 17 % | 60,216 | 52,216 | 15 % |
Expenses | 19,296 | 17,826 | 8 % | 74,699 | 70,745 | 6 % |
Operating Loss | (3,589) | (4,389) | (18) % | (14,483) | (18,529) | (22) % |
Totals: | ||||||
Revenues | $557,190 | $484,858 | 15 % | $2,125,151 | $1,919,793 | 11 % |
Expenses | 372,994 | 345,451 | 8 % | 1,425,762 | 1,363,028 | 5 % |
Corporate Overhead Expenses | 38,652 | 37,723 | 2 % | 147,648 | 132,241 | 12 % |
Income from Operations | $145,544 | $101,684 | 43 % | $551,741 | $424,524 | 30 % |
Fourth-Quarter Business Highlights:
- SEI achieved diluted EPS of $1.19, up 31% from the prior year, representing the second consecutive quarter where SEI has realized significant growth in net sales, revenue and earnings from the prior year.
- Q4 2024 diluted EPS matched Q3's near-record level despite the $0.02 impact of several items affecting comparability in the quarter, specifically:
- A $0.04 negative impact from higher incentive compensation accrued in Q4, in recognition of our employees' reigniting SEI's momentum and our strong financial performance in 2024.
- A $0.05 negative impact from the timing of stock-based compensation. Accelerating EPS growth caused an increasing number of equity awards to vest in Q4, driving the higher than normal non-cash expenditure.
- A $0.02 positive impact from FX transaction gains.
- A $0.05 positive tax impact from options exercised during the quarter as well as our year-end provision estimate.
- Q4 2024 diluted EPS matched Q3's near-record level despite the $0.02 impact of several items affecting comparability in the quarter, specifically:
- Net sales events during the fourth quarter 2024 were $38.2 million, bringing full-year 2024 net sales events to $127.9 million, a 58% increase vs. full-year 2023. Similar to last quarter, the drivers of net sales activity were broad-based, coming from multiple existing and new clients, both in the US and globally.
- Consolidated revenues and operating income increased by 15% and 43%, respectively, from Q4 2023, with revenue, operating profit and margins increasing for each business segment.
- Private Banks revenue growth of 14% was supported by recent sales events, increased client retention and the conversion of the existing client backlog into revenue, with operating profit growing 56% due to continued cost discipline.
- Investment Managers operating profit growth of 26% was driven by sales event growth and client cross-selling. Our Investment Managers offering continues to gain traction, most notably with private credit and global clients.
- Investment Advisors operating profit growth of 47% was largely driven by a $21.1 million contribution from the integrated cash program in the quarter.
- Modest Institutional Investors revenue and operating profit growth reflects improvement vs. the first half of 2024, with the business working to offset the negative impact of corporate defined benefit plan terminations.
- Absent the negative impact of incentive and stock compensation expenses noted above, SEI's consolidated operating margins improved relative to the prior year and the prior quarter.
- Average assets under administration increased by 3%, and average assets under management increased by 1%, relative to Q3 2024. However, ending assets under management declined by 3% vs. Q3 2024 due to a combination of market valuation and net outflows, most notably for LSV and Institutional Investors, which saw an unusually large impact of plan terminations.
- Relative to Q4 2023, both average assets under administration and assets under management realized healthy growth of 15% and 18%, respectively.
- Earnings from LSV decreased to $33.4 million in the fourth quarter 2024 as compared to $35.4 million in the fourth quarter 2023, due to slightly lower incentive fees.
- SEI repurchased 3.1 million shares of common stock for $259.5 million during the fourth quarter 2024 at an average price of $83.43 per share.
Earnings Conference Call
A conference call and presentation to review earnings is scheduled for 5 p.m. Eastern time on Jan. 29, 2025. Investors and the public may review the presentation and listen to the call and replay at seic.com/ir-events.
About SEI®
SEI (NASDAQ:SEIC) delivers technology and investment solutions that connect the financial services industry. With capabilities across investment processing, operations, and asset management, SEI works with corporations, financial institutions and professionals, and ultra-high-net-worth families to help drive growth, make confident decisions, and protect futures. As of Dec. 31, 2024, SEI manages, advises, or administers approximately $1.6 trillion in assets. For more information, visit seic.com.
This release contains forward-looking statements within the meaning or the rules and regulations of the Securities and Exchange Commission. In some cases you can identify forward-looking statements by terminology, such as "may," "will," "expect," "believe" and "continue" or "appear." Our forward-looking statements include our current expectations as to:
- our focus on maximizing our return on invested capital across our segments and solutions globally;
- our ability to deliver long-term value for our stakeholders; and
- when and if we will generate net annualized recurring revenues from sales events that occurred during the quarter, as well as the amount of any such revenue.
You should not place undue reliance on our forward-looking statements, as they are based on the current beliefs and expectations of our management and subject to significant risks and uncertainties, many of which are beyond our control or are subject to change. Although we believe the assumptions upon which we base our forward-looking statements are reasonable, they could be inaccurate. Some of the risks and important factors that could cause actual results to differ from those described in our forward-looking statements can be found in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended Dec. 31, 2023, filed with the Securities and Exchange Commission.
SEI INVESTMENTS COMPANY | ||||
For the Three Months | For the Twelve Months | |||
2024 | 2023 | 2024 | 2023 | |
Asset management, admin. and distribution fees |
$439,520 |
$383,571 |
$1,677,143 |
$1,514,815 |
Information processing and software servicing fees | 117,670 | 101,287 | 448,008 | 404,978 |
Total revenues |
557,190 |
484,858 |
2,125,151 |
1,919,793 |
Subadvisory, distribution and other asset mgmt. costs | 50,427 | 47,106 | 191,706 | 189,263 |
Software royalties and other information processing costs | 8,726 | 8,505 | 34,229 | 32,289 |
Compensation, benefits and other personnel | 200,347 | 184,508 | 770,881 | 714,099 |
Stock-based compensation | 21,402 | 7,850 | 58,626 | 31,308 |
Consulting, outsourcing and professional fees | 52,548 | 54,850 | 211,806 | 231,469 |
Data processing and computer related | 38,863 | 34,735 | 151,653 | 137,036 |
Facilities, supplies and other costs | 20,487 | 27,011 | 79,282 | 85,836 |
Amortization | 10,585 | 9,818 | 41,869 | 38,669 |
Depreciation | 8,261 | 8,791 | 33,358 | 35,300 |
Total expenses |
411,646 |
383,174 |
1,573,410 |
1,495,269 |
Income from operations | 145,544 | 101,684 | 551,741 | 424,524 |
Net (loss) gain from investments | (559) | 1,704 | 2,790 | 2,757 |
Interest and dividend income | 12,947 | 11,574 | 48,897 | 41,027 |
Interest expense | (144) | (187) | (563) | (583) |
Other income | — | — | 8,151 | — |
Equity in earnings of unconsolidated affiliate | 33,366 | 35,413 | 135,741 | 126,930 |
Income before income taxes |
191,154 |
150,188 |
746,757 |
594,655 |
Income taxes | 35,383 | 29,457 | 165,566 | 132,397 |
Net income |
$155,771 |
$120,731 |
$581,191 |
$462,258 |
Basic earnings per common share |
$1.21 |
$0.92 |
$4.47 |
$3.49 |
Shares used to calculate basic earnings per share |
128,642 |
131,269 |
130,073 |
132,593 |
Diluted earnings per common share |
$1.19 |
$0.91 |
$4.41 |
$3.46 |
Shares used to calculate diluted earnings per share |
131,421 |
132,160 |
131,727 |
133,728 |
Dividends declared per common share |
$0.49 |
$0.46 |
$0.95 |
$0.89 |
| SEI INVESTMENTS COMPANY CONSOLIDATED CONDENSED BALANCE SHEETS (In thousands) (Unaudited) | ||
December 31, | December 31, | |
Assets | ||
Current Assets: | ||
Cash and cash equivalents | $839,891 | $834,697 |
Restricted cash | 302 | 301 |
Receivables from investment products | 54,118 | 55,886 |
Receivables, net of allowance for doubtful accounts of $1,435 and $663 | 567,634 | 501,434 |
Securities owned | 29,583 | 31,334 |
Other current assets | 60,282 | 54,464 |
Total Current Assets | 1,551,810 | 1,478,116 |
|
Property and Equipment, net of accumulated depreciation of $493,219 and $474,034 |
159,643 |
171,364 |
Operating Lease Right-of-Use Assets | 28,905 | 22,477 |
Capitalized Software, net of accumulated amortization of $641,071 and $612,971 | 236,023 | 239,783 |
Investments | 315,567 | 273,510 |
Goodwill and Intangible Assets, net | 247,657 | 219,776 |
Deferred Contract Costs | 45,855 | 40,221 |
Deferred Income Taxes | 51,984 | 37,709 |
Other Assets, net | 47,162 | 37,047 |
Total Assets | $2,684,606 | $2,520,003 |
Liabilities and Equity | ||
Current Liabilities: | ||
Accounts payable | $13,081 | $10,618 |
Accrued liabilities | 347,513 | 318,945 |
Current portion of long-term operating lease liabilities | 7,900 | 8,118 |
Deferred revenue | 12,019 | 15,366 |
Total Current Liabilities | 380,513 | 353,047 |
Long-term Income Taxes Payable | 803 | 803 |
Long-term Operating Lease Liabilities | 24,235 | 17,235 |
Other Long-term Liabilities | 26,943 | 17,090 |
Total Liabilities | 432,494 | 388,175 |
Shareholders' Equity: | ||
Common stock, $0.01 par value, 750,000 shares authorized; 126,840 and 131,178 |
1,268 |
1,312 |
Capital in excess of par value | 1,539,816 | 1,404,962 |
Retained earnings | 758,003 | 762,586 |
Accumulated other comprehensive loss, net | (46,975) | (37,032) |
Total Shareholders' Equity | 2,252,112 | 2,131,828 |
Total Liabilities and Shareholders' Equity | $2,684,606 | $2,520,003 |
SEI INVESTMENTS COMPANY | ||
For the Twelve Months | ||
2024 | 2023 | |
Cash flows from operating activities: | ||
Net income | $581,191 | $462,258 |
Adjustments to reconcile net income to net cash provided by operating activities | $41,152 | ($15,228) |
Net cash provided by operating activities | $622,343 | $447,030 |
Net cash used in investing activities | ($117,302) | ($141,543) |
Net cash used in financing activities | ($494,401) | ($331,324) |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | (5,445) | 7,476 |
Net increase (decrease) in cash, cash equivalents and restricted cash | 5,195 | (18,361) |
Cash, cash equivalents and restricted cash, beginning of period | 834,998 | 853,359 |
Cash, cash equivalents and restricted cash, end of period | $840,193 | $834,998 |
ENDING ASSET BALANCES | |||||
Dec. 31, 2023 | Mar. 31, 2024 | Jun. 30, 2024 | Sept. 30, 2024 | Dec. 31, 2024 | |
Private Banks: Equity and fixed-income programs |
$24,496 |
$25,282 |
$25,031 |
$26,565 |
$25,523 |
Collective trust fund programs | 4 | 5 | 5 | 5 | 4 |
Liquidity funds | 3,916 | 2,733 | 2,699 | 2,948 | 2,688 |
Total assets under management | $28,416 | $28,020 | $27,735 | $29,518 | $28,215 |
Client assets under administration | 7,267 | 8,024 | 7,813 | 8,349 | 8,340 |
Total assets | $35,683 | $36,044 | $35,548 | $37,867 | $36,555 |
Investment Advisors: Equity and fixed-income programs |
$71,634 |
$74,715 |
$74,556 |
$78,361 |
$76,283 |
Liquidity funds | 4,812 | 4,722 | 4,301 | 2,790 | 3,105 |
Total Platform assets under management | $76,446 | $79,437 | $78,857 | $81,151 | $79,388 |
Platform-only assets | 18,324 | 20,516 | 21,908 | 24,501 | 25,244 |
Platform-only assets-deposit program | 843 | 897 | 894 | 2,447 | 2,398 |
Total Platform assets | $95,613 | $100,850 | $101,659 | $108,099 | $107,030 |
Institutional Investors: Equity and fixed-income programs |
$77,208 |
$75,969 |
$75,542 |
$79,252 |
$75,481 |
Collective trust fund programs | 1 | 1 | 1 | 1 | 1 |
Liquidity funds | 1,734 | 2,179 | 2,309 | 1,829 | 1,511 |
Total assets under management | $78,943 | $78,149 | $77,852 | $81,082 | $76,993 |
Client assets under advisement | 6,120 | 6,862 | 7,886 | 8,038 | 5,955 |
Total assets | $85,063 | $85,011 | $85,738 | $89,120 | $82,948 |
Investment Managers: Collective trust fund programs (A) |
$156,376 |
$161,660 |
$192,747 |
$204,429 |
$202,384 |
Liquidity funds | 114 | 202 | 221 | 233 | 188 |
Total assets under management | $156,490 | $161,862 | $192,968 | $204,662 | $202,572 |
Client assets under administration | 920,757 | 959,904 | 998,315 | 1,022,515 | 1,032,812 |
Total assets | $1,077,247 | $1,121,766 | $1,191,283 | $1,227,177 | $1,235,384 |
Investments in New Businesses: |
$2,174 |
$2,269 |
$2,285 |
$2,825 |
$2,747 |
Liquidity funds | 209 | 223 | 631 | 246 | 297 |
Total assets under management | $2,383 | $2,492 | $2,916 | $3,071 | $3,044 |
Client assets under advisement | 1,150 | 1,248 | 1,886 | 2,021 | 2,185 |
Client assets under administration | 14,807 | 15,411 | 14,848 | 15,110 | 14,791 |
Total assets | $18,340 | $19,151 | $19,650 | $20,202 | $20,020 |
LSV Asset Management: Equity and fixed-income programs (B) |
$89,312 |
$93,616 |
$90,197 |
$93,855 |
$86,501 |
Total: Equity and fixed-income programs (C) |
$264,824 |
$271,851 |
$267,611 |
$280,858 |
$266,535 |
Collective trust fund programs | 156,381 | 161,666 | 192,753 | 204,435 | 202,389 |
Liquidity funds | 10,785 | 10,059 | 10,161 | 8,046 | 7,789 |
Total assets under management | $431,990 | $443,576 | $470,525 | $493,339 | $476,713 |
Client assets under advisement | 7,270 | 8,110 | 9,772 | 10,059 | 8,140 |
Client assets under administration (D) | 942,831 | 983,339 | 1,020,976 | 1,045,974 | 1,055,943 |
Platform-only assets | 19,167 | 21,413 | 22,802 | 26,948 | 27,642 |
Total assets | $1,401,258 | $1,456,438 | $1,524,075 | $1,576,320 | $1,568,438 |
(A) | Collective trust fund program assets in the Investment Managers segment are included in assets under management since SEI is the trustee. Fees earned on this product are less than fees earned on customized asset management programs. |
(B) | Equity and fixed-income programs include $1.4 billion of assets managed by LSV in which fees are based solely on performance and are not calculated as an asset-based fee (as of December 31, 2024). |
(C) | Equity and fixed-income programs include $6.4 billion of assets invested in various asset allocation funds (as of December 31, 2024). |
(D) | In addition to the assets presented, SEI also administers an additional $10.3 billion in Funds of Funds assets on which SEI does not earn an administration fee (as of December 31, 2024). |
AVERAGE ASSET BALANCES | |||||
4th Qtr. 2023 | 1st Qtr. 2024 | 2nd Qtr. 2024 | 3rd Qtr. 2024 | 4th Qtr. 2024 | |
Private Banks: Equity and fixed-income programs |
$23,309 |
$24,593 |
$24,859 |
$25,823 |
$26,067 |
Collective trust fund programs | 5 | 4 | 5 | 5 | 4 |
Liquidity funds | 3,808 | 3,902 | 2,734 | 2,858 | 2,814 |
Total assets under management | $27,122 | $28,499 | $27,598 | $28,686 | $28,885 |
Client assets under administration | 7,083 | 7,753 | 7,884 | 8,074 | 8,395 |
Total assets | $34,205 | $36,252 | $35,482 | $36,760 | $37,280 |
Investment Advisors: Equity and fixed-income programs |
$68,369 |
$72,689 |
$73,793 |
$76,111 |
$77,866 |
Liquidity funds | 5,046 | 4,649 | 4,348 | 4,264 | 3,031 |
Total Platform assets under management | $73,415 | $77,338 | $78,141 | $80,375 | $80,897 |
Platform-only assets | 17,201 | 19,198 | 20,897 | 23,194 | 25,109 |
Platform-only assets-deposit program | 281 | 849 | 886 | 1,176 | 2,186 |
Total Platform assets | $90,897 | $97,385 | $99,924 | $104,745 | $108,192 |
Institutional Investors: Equity and fixed-income programs |
$73,644 |
$76,414 |
$75,203 |
$77,473 |
$77,399 |
Collective trust fund programs | 3 | 1 | 1 | 1 | 1 |
Liquidity funds | 1,682 | 1,812 | 1,893 | 2,046 | 2,154 |
Total assets under management | $75,329 | $78,227 | $77,097 | $79,520 | $79,554 |
Client assets under advisement | 4,607 | 6,498 | 7,508 | 7,925 | 6,991 |
Total assets | $79,936 | $84,725 | $84,605 | $87,445 | $86,545 |
Investment Managers: Collective trust fund programs (A) |
$149,551 |
$156,737 |
$189,884 |
$198,839 |
$204,954 |
Liquidity funds | 205 | 207 | 227 | 245 | 223 |
Total assets under management | $149,756 | $156,944 | $190,111 | $199,084 | $205,177 |
Client assets under administration | 901,487 | 938,804 | 982,806 | 1,005,111 | 1,034,500 |
Total assets | $1,051,243 | $1,095,748 | $1,172,917 | $1,204,195 | $1,239,677 |
Investments in New Businesses: |
$2,069 |
$2,200 |
$2,234 |
$2,432 |
$2,819 |
Liquidity funds | 197 | 214 | 471 | 546 | 269 |
Total assets under management | $2,266 | $2,414 | $2,705 | $2,978 | $3,088 |
Client assets under advisement | 1,080 | 1,194 | 2,014 | 1,885 | 2,110 |
Client assets under administration | 14,781 | 15,147 | 14,713 | 14,973 | 14,961 |
Total assets | $18,127 | $18,755 | $19,432 | $19,836 | $20,159 |
LSV Asset Management: Equity and fixed-income programs (B) |
$84,492 |
$90,708 |
$90,849 |
$93,195 |
$88,880 |
Total: Equity and fixed-income programs (C) |
$251,883 |
$266,604 |
$266,938 |
$275,034 |
$273,031 |
Collective trust fund programs | 149,559 | 156,742 | 189,890 | 198,845 | 204,959 |
Liquidity funds | 10,938 | 10,784 | 9,673 | 9,959 | 8,491 |
Total assets under management | $412,380 | $434,130 | $466,501 | $483,838 | $486,481 |
Client assets under advisement | 5,687 | 7,692 | 9,522 | 9,810 | 9,101 |
Client assets under administration (D) | 923,351 | 961,704 | 1,005,403 | 1,028,158 | 1,057,856 |
Platform-only assets | 17,482 | 20,047 | 21,783 | 24,370 | 27,295 |
Total assets | $1,358,900 | $1,423,573 | $1,503,209 | $1,546,176 | $1,580,733 |
(A) | Collective trust fund program average assets in the Investment Managers segment are included in assets under management since SEI is the trustee. Fees earned on this product are less than fees earned on customized asset management programs. |
(B) | Equity and fixed-income programs during fourth-quarter 2024 include $1.5 billion of average assets managed by LSV in which fees are based solely on performance and are not calculated as an asset-based fee. |
(C) | Equity and fixed-income programs include $6.4 billion of average assets invested in various asset allocation funds during fourth-quarter 2024. |
(D) | In addition to the assets presented, SEI also administers an additional $9.4 billion of average assets in Funds of Funds assets during fourth-quarter 2024 on which SEI does not earn an administration fee. |
SALES EVENTS Net Recurring Sales Events | ||||||
4th Qtr. 2023 | 1st Qtr. 2024 | 2nd Qtr. 2024 | 3rd Qtr. 2024 | 4th Qtr. 2024 | ||
Investment Processing-related Businesses: | ||||||
Private Banks | $ 2,210 | $ 247 | $ 4,331 | $ 9,417 | $ 9,245 | |
Investment Managers | 15,314 | 20,407 | 17,180 | 23,319 | 18,027 | |
Total Investment Processing-related Businesses | $ 17,524 | $ 20,654 | $ 21,511 | $ 32,736 | $ 27,272 | |
Asset Management-related Businesses: | ||||||
Private Banks-AMD | $ (1,068) | $ (85) | $ (494) | $ (854) | $ 495 | |
Investment Advisors | (5,277) | (942) | (3,299) | 2,686 | 1,339 | |
Institutional Investors | (4,151) | (4,649) | (1,787) | (576) | (2,673) | |
Total Asset Management-related Businesses | $ (10,496) | $ (5,676) | $ (5,580) | $ 1,256 | $ (839) | |
Newer Initiatives: | ||||||
Investments in New Businesses | $ 1,432 | $ 1,494 | $ (43) | $ 936 | $ 1,778 | |
Total Net Recurring Sales Events | $ 8,460 | $ 16,472 | $ 15,888 | $ 34,928 | $ 28,211 | |
Non-Recurring Sales Events | ||||||
4th Qtr. 2023 | 1st Qtr. 2024 | 2nd Qtr. 2024 | 3rd Qtr. 2024 | 4th Qtr. 2024 | ||
Investment Processing-related Businesses: | ||||||
Private Banks | $ 3,489 | $ 2,613 | $ 4,431 | $ 8,796 | $ 6,622 | |
Investment Managers | 1,000 | 1,213 | 930 | 712 | 2,465 | |
Total Investment Processing-related Businesses | $ 4,489 | $ 3,826 | $ 5,361 | $ 9,508 | $ 9,087 | |
Newer Initiatives: | ||||||
Investments in New Businesses | $ 770 | $ 987 | $ 717 | $ 1,976 | $ 921 | |
Total Non-Recurring Sales Events | $ 5,259 | $ 4,813 | $ 6,078 | $ 11,484 | $ 10,008 | |
Total Sales Events | ||||||
4th Qtr. 2023 | 1st Qtr. 2024 | 2nd Qtr. 2024 | 3rd Qtr. 2024 | 4th Qtr. 2024 | ||
Investment Processing-related Businesses: | ||||||
Private Banks | $ 5,699 | $ 2,860 | $ 8,762 | $ 18,213 | $ 15,867 | |
Investment Managers | 16,314 | 21,620 | 18,110 | 24,031 | 20,492 | |
Total Investment Processing-related Businesses | $ 22,013 | $ 24,480 | $ 26,872 | $ 42,244 | $ 36,359 | |
Asset Management-related Businesses: | ||||||
Private Banks-AMD | $ (1,068) | $ (85) | $ (494) | $ (854) | $ 495 | |
Investment Advisors | (5,277) | (942) | (3,299) | 2,686 | 1,339 | |
Institutional Investors | (4,151) | (4,649) | (1,787) | (576) | (2,673) | |
Total Asset Management-related Businesses | $ (10,496) | $ (5,676) | $ (5,580) | $ 1,256 | $ (839) | |
Newer Initiatives: | ||||||
Investments in New Businesses | $ 2,202 | $ 2,481 | $ 674 | $ 2,912 | $ 2,699 | |
Total Sales Events | $ 13,719 | $ 21,285 | $ 21,966 | $ 46,412 | $ 38,219 | |
Investor contact: | Media contact: |
Brad Burke | Leslie Wojcik |
SEI | SEI |
+1 610-676-5350 | +1 610-676-4191 |
SOURCE SEI Investments Company
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