SEI Reports Third-Quarter 2025 Financial Results
OAKS, Pa., Oct. 22, 2025 /PRNewswire/ -- SEI Investments Company (NASDAQ:SEIC) today announced financial results for the third quarter 2025. Relative to the third quarter 2024, EPS increased by 9%, and revenue and operating income grew by 8% and 11%, respectively, with operating margin increasing to 28%.
| Consolidated Overview |
|
|
|
|
|
|
|
|
|
|
|
|
| (In thousands, except |
|
For the Three Months |
|
|
|
For the Nine Months |
|
|
||||
| |
|
2025 |
|
2024 |
|
% |
|
2025 |
|
2024 |
|
% |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Revenues |
|
$578,511 |
|
$537,396 |
|
8 % |
|
$1,689,456 |
|
$1,567,961 |
|
8 % |
| Operating income |
|
159,961 |
|
143,832 |
|
11 % |
|
465,693 |
|
406,197 |
|
15 % |
| Operating margin |
|
28 % |
|
27 % |
|
4 % |
|
28 % |
|
26 % |
|
8 % |
| Net income attributable |
|
164,204 |
|
154,900 |
|
6 % |
|
542,804 |
|
425,420 |
|
28 % |
| Diluted earnings per share |
|
$1.30 |
|
$1.19 |
|
9 % |
|
$4.25 |
|
$3.23 |
|
32 % |
"SEI delivered another strong quarter, surpassing $100 million in net sales events year to date—a record for our company through the third quarter. Excluding one-time items, third-quarter earnings per share also hit a record high. Our growth is underscored by the disciplined execution of our clear enterprise strategy, and we have confidence in our healthy sales pipelines," said CEO Ryan Hicke.
"We are making targeted investments in technology and talent, allocating capital to the highest-return opportunities, and driving margin expansion. We're excited for the significant opportunity ahead, and our confidence in SEI's ability to outperform and deliver long-term, sustainable value for our clients and shareholders has never been stronger."
| Summary of Third-Quarter Results by Business Segment |
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| |
||||||||||||
| (In thousands) |
|
For the Three Months |
|
|
|
For the Nine Months |
|
|
||||
| |
|
2025 |
|
2024 |
|
% |
|
2025 |
|
2024 |
|
% |
| Investment Managers: |
|
|
|
|
|
|
|
|
|
|
|
|
| Revenues |
|
$207,050 |
|
$184,607 |
|
12 % |
|
$594,165 |
|
$537,128 |
|
11 % |
| Expenses |
|
125,934 |
|
114,118 |
|
10 % |
|
364,781 |
|
334,955 |
|
9 % |
| Operating Profit |
|
81,116 |
|
70,489 |
|
15 % |
|
229,384 |
|
202,173 |
|
13 % |
| Operating Margin |
|
39 % |
|
38 % |
|
|
|
39 % |
|
38 % |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Private Banks: |
|
|
|
|
|
|
|
|
|
|
|
|
| Revenues |
|
143,994 |
|
138,734 |
|
4 % |
|
423,157 |
|
401,272 |
|
5 % |
| Expenses |
|
120,763 |
|
115,097 |
|
5 % |
|
354,236 |
|
339,961 |
|
4 % |
| Operating Profit |
|
23,231 |
|
23,637 |
|
(2) % |
|
68,921 |
|
61,311 |
|
12 % |
| Operating Margin |
|
16 % |
|
17 % |
|
|
|
16 % |
|
15 % |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Investment Advisors: |
|
|
|
|
|
|
|
|
|
|
|
|
| Revenues |
|
147,465 |
|
126,836 |
|
16 % |
|
421,234 |
|
370,141 |
|
14 % |
| Expenses |
|
79,128 |
|
70,152 |
|
13 % |
|
227,384 |
|
206,063 |
|
10 % |
| Operating Profit |
|
68,337 |
|
56,684 |
|
21 % |
|
193,850 |
|
164,078 |
|
18 % |
| Operating Margin |
|
46 % |
|
45 % |
|
|
|
46 % |
|
44 % |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Institutional Investors: |
|
|
|
|
|
|
|
|
|
|
|
|
| Revenues |
|
71,826 |
|
71,626 |
|
— % |
|
209,675 |
|
214,911 |
|
(2) % |
| Expenses |
|
38,068 |
|
37,851 |
|
1 % |
|
109,795 |
|
116,386 |
|
(6) % |
| Operating Profit |
|
33,758 |
|
33,775 |
|
— % |
|
99,880 |
|
98,525 |
|
1 % |
| Operating Margin |
|
47 % |
|
47 % |
|
|
|
48 % |
|
46 % |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Investments in New Businesses: |
|
|
|
|
|
|
|
|
|
|
|
|
| Revenues |
|
8,176 |
|
15,593 |
|
(48) % |
|
41,225 |
|
44,509 |
|
(7) % |
| Expenses |
|
11,863 |
|
18,440 |
|
(36) % |
|
48,789 |
|
55,403 |
|
(12) % |
| Operating Loss |
|
(3,687) |
|
(2,847) |
|
30 % |
|
(7,564) |
|
(10,894) |
|
(31) % |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Totals: |
|
|
|
|
|
|
|
|
|
|
|
|
| Revenues |
|
$578,511 |
|
$537,396 |
|
8 % |
|
$1,689,456 |
|
$1,567,961 |
|
8 % |
| Expenses |
|
375,756 |
|
355,658 |
|
6 % |
|
1,104,985 |
|
1,052,768 |
|
5 % |
| Corporate Overhead Expenses |
|
42,794 |
|
37,906 |
|
13 % |
|
118,778 |
|
108,996 |
|
9 % |
| Income from Operations |
|
$159,961 |
|
$143,832 |
|
11 % |
|
$465,693 |
|
$406,197 |
|
15 % |
Third-Quarter Business Highlights:
- SEI achieved diluted EPS of $1.30, up 9% from the prior year, driven by strong revenue growth and margin expansion across the business. Several items affected comparability in the quarter, but the net impact to EPS was negligible:
- A $0.03 benefit from insurance proceeds and a $0.01 benefit from an earn-out accrual adjustment in the Advisors business.
- Expenses of $0.02 related to M&A for the planned acquisition of Stratos and $0.02 of severance costs.
- Prior period results included positive contributions from unusual items, adding $0.08 to EPS in Q3 2024 and $0.58 in Q2 2025. Excluding these items, SEI delivered strong sequential and year-over-year EPS growth.
- Net sales events totaled $30.5 million for the third quarter 2025, bringing net sales events for the nine-month period to a record $106.3 million. Sales events were led by record results from Investment Managers, reflecting strong demand for outsourcing and client expansions. Sales pipelines across all of SEI's businesses remain robust.
- Consolidated revenues and operating income increased by 8% and 11%, respectively, from Q3 2024. SEI's consolidated operating margin of 28% improved over both the prior year and prior quarter, reflecting operating leverage on strong revenue growth and cost discipline.
- Private Banks operating profit declined by 2% due to the benefit of unusual items in Q3 2024; absent these items both revenue and margins improved relative to the prior year.
- Investment Managers operating profit increased 15%, driven by double-digit revenue growth in alternatives. Traditional revenue in Investment Managers also grew at a healthy pace, benefiting in part from favorable market conditions.
- Investment Advisors operating profit growth of 21% reflects the benefit of market appreciation, underlying business momentum, a $2M earn-out true-up and the $21M contribution from SEI's integrated cash program, up $10M from Q3 2024.
- Institutional Investors revenue and profit were flat, reflecting lower equity exposure and less benefit from market appreciation relative to Advisors.
- Ending assets under administration increased by 7%, and ending assets under management increased by 5% from Q2 to Q3.
- The majority of growth in assets under administration came from alternatives which do not benefit from market appreciation; growth reflects continued momentum in the Investment Managers alternatives business.
- AUM growth was supported by market appreciation in addition to modestly positive net asset flows in Advisors, as ETF and SMA net inflows offset outflows in traditional mutual funds.
- SEI repurchased 1.6 million shares of common stock for $141.6 million during the third quarter 2025 at an average price of $90.02 per share, bringing total shares repurchased to 9.3 million for the trailing 12 months.
Earnings Conference Call
A conference call and presentation to review earnings is scheduled for 5 p.m. Eastern time on Oct. 22, 2025. Analysts and investors are invited to join the call by completing the registration form. The public is invited to review the presentation and listen to the call and replay at ir.seic.com/events-presentations/events.
About SEI ®
SEI (NASDAQ:SEIC) is a leading global provider of financial technology, operations, and asset management services within the financial services industry. SEI tailors its solutions and services to help clients more effectively deploy their capital—whether that's money, time, or talent—so they can better serve their clients and achieve their growth objectives. As of Sept. 30, 2025, SEI manages, advises, or administers approximately $1.8 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," "can," "expect," "believe," "remain," and "continue" or "appear." Our forward-looking statements include our current expectations as to:
- our opportunities;
- our ability to outperform and deliver long-term, sustainable value for our clients and shareholders
- the drivers of our growth;
- the strength of our pipelines; 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. We undertake no obligation to update our forward-looking statements. 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, 2024, filed with the Securities and Exchange Commission.
| SEI INVESTMENTS COMPANY CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) (Unaudited) |
||||||||
| |
||||||||
| |
|
For the Three Months |
|
For the Nine Months |
||||
| |
|
2025 |
|
2024 |
|
2025 |
|
2024 |
| |
|
|
|
|
|
|
|
|
| Asset management, admin. and distribution fees |
|
$461,964 |
|
$423,859 |
|
$1,331,650 |
|
$1,237,623 |
| Information processing and software servicing fees |
|
116,547 |
|
113,537 |
|
357,806 |
|
330,338 |
| |
|
|
|
|
|
|
|
|
| Total revenues |
|
578,511 |
|
537,396 |
|
1,689,456 |
|
1,567,961 |
| |
|
|
|
|
|
|
|
|
| Subadvisory, distribution and other asset mgmt. costs |
|
55,072 |
|
47,969 |
|
152,313 |
|
141,279 |
| Software royalties and other information processing costs |
|
9,434 |
|
8,936 |
|
27,706 |
|
25,503 |
| Compensation, benefits and other personnel |
|
203,739 |
|
191,740 |
|
594,097 |
|
570,534 |
| Stock-based compensation |
|
13,956 |
|
13,696 |
|
41,985 |
|
37,224 |
| Consulting, outsourcing and professional fees |
|
54,401 |
|
53,291 |
|
167,344 |
|
159,258 |
| Data processing and computer related |
|
41,569 |
|
37,556 |
|
122,689 |
|
112,790 |
| Facilities, supplies and other costs |
|
20,982 |
|
21,622 |
|
61,481 |
|
58,795 |
| Amortization |
|
11,912 |
|
10,413 |
|
33,071 |
|
31,284 |
| Depreciation |
|
7,485 |
|
8,341 |
|
23,077 |
|
25,097 |
| |
|
|
|
|
|
|
|
|
| Total expenses |
|
418,550 |
|
393,564 |
|
1,223,763 |
|
1,161,764 |
| |
|
|
|
|
|
|
|
|
| Income from operations |
|
159,961 |
|
143,832 |
|
465,693 |
|
406,197 |
| |
|
|
|
|
|
|
|
|
| Net gain from investments |
|
1,992 |
|
427 |
|
4,244 |
|
3,349 |
| Interest and dividend income |
|
10,207 |
|
13,579 |
|
29,711 |
|
35,950 |
| Interest expense |
|
(109) |
|
(141) |
|
(386) |
|
(419) |
| Gain on sale of business |
|
— |
|
— |
|
94,412 |
|
— |
| Other income |
|
4,922 |
|
8,151 |
|
9,422 |
|
8,151 |
| Equity in earnings of unconsolidated affiliate |
|
31,903 |
|
36,513 |
|
94,290 |
|
102,375 |
| Net gain from consolidated variable interest entities |
|
1,845 |
|
— |
|
1,845 |
|
— |
| |
|
|
|
|
|
|
|
|
| Income before income taxes |
|
210,721 |
|
202,361 |
|
699,231 |
|
555,603 |
| |
|
|
|
|
|
|
|
|
| Income taxes |
|
46,135 |
|
47,461 |
|
156,045 |
|
130,183 |
| |
|
|
|
|
|
|
|
|
| Net income |
|
$164,586 |
|
$154,900 |
|
$543,186 |
|
$425,420 |
| |
|
|
|
|
|
|
|
|
| Less: Net income attributable to non-controlling interests |
|
382 |
|
— |
|
382 |
|
— |
| |
|
|
|
|
|
|
|
|
| Net income attributable to SEI Investments Company |
|
$164,204 |
|
$154,900 |
|
$542,804 |
|
$425,420 |
| |
|
|
|
|
|
|
|
|
| Basic earnings per common share |
|
$1.33 |
|
$1.20 |
|
$4.35 |
|
$3.26 |
| |
|
|
|
|
|
|
|
|
| Shares used to calculate basic earnings per share |
|
123,099 |
|
129,418 |
|
124,710 |
|
130,550 |
| |
|
|
|
|
|
|
|
|
| Diluted earnings per common share |
|
$1.30 |
|
$1.19 |
|
$4.25 |
|
$3.23 |
| |
|
|
|
|
|
|
|
|
| Shares used to calculate diluted earnings per share |
|
126,325 |
|
130,671 |
|
127,684 |
|
131,830 |
| |
|
|
|
|
|
|
|
|
| Dividends declared per common share |
|
$— |
|
$— |
|
$0.49 |
|
$0.46 |
| SEI INVESTMENTS COMPANY CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited) |
||||
| |
||||
| |
|
September 30, |
|
December 31, |
| |
|
2025 |
|
2024 |
| Assets |
|
|
|
|
| Current Assets: |
|
|
|
|
| Cash and cash equivalents |
|
$792,822 |
|
$840,193 |
| Receivables from investment products |
|
50,563 |
|
54,118 |
| Receivables, net of allowance for doubtful accounts of $2,228 and $1,435 |
|
670,116 |
|
567,634 |
| Securities owned |
|
31,242 |
|
29,583 |
| Other current assets |
|
66,975 |
|
60,282 |
| Total Current Assets |
|
1,611,718 |
|
1,551,810 |
| |
|
|
|
|
| Property and Equipment, net of accumulated depreciation of $461,304 and $493,219 |
|
156,065 |
|
159,643 |
| Operating Lease Right-of-Use Assets |
|
24,065 |
|
28,905 |
| Capitalized Software, net of accumulated amortization of $661,413 and $641,071 |
|
235,559 |
|
236,023 |
| Investments |
|
293,865 |
|
315,567 |
| Assets of Consolidated Variable Interest Entities |
|
170,657 |
|
— |
| Goodwill |
|
168,430 |
|
170,287 |
| Intangible Assets, net of accumulated amortization of $44,506 and $55,835 |
|
61,387 |
|
77,370 |
| Deferred Contract Costs |
|
49,113 |
|
45,855 |
| Deferred Income Taxes |
|
17,490 |
|
51,984 |
| Other Assets, net |
|
56,761 |
|
47,162 |
| Total Assets |
|
$2,845,110 |
|
$2,684,606 |
| |
|
|
|
|
| Liabilities, Redeemable Non-controlling Interests and Shareholders' Equity |
|
|
|
|
| Current Liabilities: |
|
|
|
|
| Accounts payable |
|
$7,871 |
|
$13,081 |
| Accrued liabilities |
|
254,162 |
|
347,513 |
| Current portion of long-term operating lease liabilities |
|
7,083 |
|
7,900 |
| Deferred revenue |
|
12,307 |
|
12,019 |
| Total Current Liabilities |
|
281,423 |
|
380,513 |
| |
|
|
|
|
| Liabilities of Consolidated Variable Interest Entities |
|
100,492 |
|
— |
| Long-term Income Taxes Payable |
|
— |
|
803 |
| Long-term Operating Lease Liabilities |
|
19,234 |
|
24,235 |
| Other Long-term Liabilities |
|
24,552 |
|
26,943 |
| Total Liabilities |
|
425,701 |
|
432,494 |
| |
|
|
|
|
| Redeemable Non-controlling Interests |
|
18,852 |
|
— |
| |
|
|
|
|
| Shareholders' Equity: |
|
|
|
|
| Common stock, $0.01 par value, 750,000 shares authorized; 122,633 and 126,840 |
|
1,226 |
|
1,268 |
| Capital in excess of par value |
|
1,648,817 |
|
1,539,816 |
| Retained earnings |
|
774,892 |
|
758,003 |
| Accumulated other comprehensive loss, net |
|
(24,378) |
|
(46,975) |
| Total Shareholders' Equity |
|
2,400,557 |
|
2,252,112 |
| |
|
|
|
|
| Total Liabilities, Redeemable Non-controlling Interests and Shareholders' Equity |
|
$2,845,110 |
|
$2,684,606 |
| SEI INVESTMENTS COMPANY CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited) |
||||
| |
||||
| |
|
For the Nine Months |
||
| |
|
2025 |
|
2024 |
| Cash flows from operating activities: |
|
|
|
|
| Net income |
|
$543,186 |
|
$425,420 |
| Less: Net income attributable to non-controlling interests |
|
(382) |
|
— |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
(56,368) |
|
1,654 |
| Net cash provided by operating activities, excluding variable interest entities |
|
486,436 |
|
427,074 |
| Net cash used in operating activities of consolidated variable interest entities |
|
(5,172) |
|
— |
| Net cash provided by operating activities |
|
$481,264 |
|
$427,074 |
| Net cash provided by/(used in) investing activities |
|
$40,497 |
|
($57,185) |
| Net cash used in financing activities |
|
($516,474) |
|
($310,392) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash |
|
11,953 |
|
6,941 |
| Net increase in cash and cash equivalents |
|
17,240 |
|
66,438 |
| Cash, cash equivalents and cash and cash equivalents held at consolidated variable |
|
840,193 |
|
834,998 |
| Cash, cash equivalents and cash and cash equivalents held at consolidated variable |
|
$857,433 |
|
$901,436 |
| |
|
|
|
|
| Reconciliation of Cash, cash equivalents and cash and cash equivalents held at |
|
September 30, |
|
December 31, |
| |
2025 |
|
2024 |
|
| Cash and cash equivalents |
|
$792,822 |
|
$840,193 |
| Cash and cash equivalents held at consolidated variable interest entities |
|
64,611 |
|
— |
| Total cash and cash equivalents and cash and cash equivalents held at consolidated |
|
$857,433 |
|
$840,193 |
| ENDING ASSET BALANCES (In millions) (Unaudited) |
||||||||||
| |
||||||||||
| |
|
Sep. 30 |
|
Dec. 31 |
|
Mar. 31 |
|
Jun. 30 |
|
Sep. 30 |
| |
|
2024 |
|
2024 |
|
2025 |
|
2025 |
|
2025 |
| Investment Managers: |
|
|
|
|
|
|
|
|
|
|
| Collective trust fund programs (A) |
|
$204,429 |
|
$202,384 |
|
$209,491 |
|
$225,690 |
|
$237,964 |
| Liquidity funds |
|
233 |
|
188 |
|
244 |
|
307 |
|
418 |
| Total assets under management |
|
$204,662 |
|
$202,572 |
|
$209,735 |
|
$225,997 |
|
$238,382 |
| Client assets under administration |
|
1,022,515 |
|
1,032,812 |
|
1,061,067 |
|
1,128,325 |
|
1,204,843 |
| Total assets |
|
$1,227,177 |
|
$1,235,384 |
|
$1,270,802 |
|
$1,354,322 |
|
$1,443,225 |
| |
|
|
|
|
|
|
|
|
|
|
| Private Banks: |
|
|
|
|
|
|
|
|
|
|
| Equity and fixed-income programs |
|
$26,565 |
|
$25,523 |
|
$25,590 |
|
$27,839 |
|
$28,408 |
| Collective trust fund programs |
|
5 |
|
4 |
|
4 |
|
3 |
|
3 |
| Liquidity funds |
|
2,948 |
|
2,688 |
|
3,670 |
|
2,796 |
|
2,802 |
| Total assets under management |
|
$29,518 |
|
$28,215 |
|
$29,264 |
|
$30,638 |
|
$31,213 |
| Client assets under administration |
|
8,349 |
|
8,340 |
|
8,365 |
|
8,431 |
|
8,902 |
| Total assets |
|
$37,867 |
|
$36,555 |
|
$37,629 |
|
$39,069 |
|
$40,115 |
| |
|
|
|
|
|
|
|
|
|
|
| Investment Advisors: |
|
|
|
|
|
|
|
|
|
|
| Equity and fixed-income programs |
|
$78,361 |
|
$76,283 |
|
$75,689 |
|
$80,618 |
|
$85,245 |
| Liquidity funds |
|
2,790 |
|
3,105 |
|
3,153 |
|
3,457 |
|
3,391 |
| Total Platform assets under management |
|
$81,151 |
|
$79,388 |
|
$78,842 |
|
$84,075 |
|
$88,636 |
| Platform-only assets |
|
24,501 |
|
25,244 |
|
25,591 |
|
29,848 |
|
32,152 |
| Platform-only assets-deposit program |
|
2,447 |
|
2,398 |
|
2,216 |
|
2,155 |
|
2,165 |
| Total Platform assets |
|
$108,099 |
|
$107,030 |
|
$106,649 |
|
$116,078 |
|
$122,953 |
| |
|
|
|
|
|
|
|
|
|
|
| Institutional Investors: |
|
|
|
|
|
|
|
|
|
|
| Equity and fixed-income programs |
|
$79,252 |
|
$75,481 |
|
$76,491 |
|
$80,112 |
|
$82,676 |
| Collective trust fund programs |
|
1 |
|
1 |
|
1 |
|
— |
|
— |
| Liquidity funds |
|
1,829 |
|
1,511 |
|
1,580 |
|
1,768 |
|
1,580 |
| Total assets under management |
|
$81,082 |
|
$76,993 |
|
$78,072 |
|
$81,880 |
|
$84,256 |
| Client assets under advisement |
|
8,038 |
|
5,955 |
|
5,573 |
|
6,090 |
|
6,564 |
| Total assets |
|
$89,120 |
|
$82,948 |
|
$83,645 |
|
$87,970 |
|
$90,820 |
| |
|
|
|
|
|
|
|
|
|
|
| Investments in New Businesses: |
|
|
|
|
|
|
|
|
|
|
| Equity and fixed-income programs |
|
$2,825 |
|
$2,747 |
|
$2,661 |
|
$2,867 |
|
$2,999 |
| Liquidity funds |
|
246 |
|
297 |
|
288 |
|
244 |
|
244 |
| Total assets under management |
|
$3,071 |
|
$3,044 |
|
$2,949 |
|
$3,111 |
|
$3,243 |
| Client assets under administration (E) |
|
15,110 |
|
14,791 |
|
14,846 |
|
— |
|
— |
| Client assets under advisement |
|
2,021 |
|
2,185 |
|
2,219 |
|
2,593 |
|
2,452 |
| Total assets |
|
$20,202 |
|
$20,020 |
|
$20,014 |
|
$5,704 |
|
$5,695 |
| |
|
|
|
|
|
|
|
|
|
|
| LSV Asset Management: |
|
|
|
|
|
|
|
|
|
|
| Equity and fixed-income programs (B) |
|
$93,855 |
|
$86,501 |
|
$87,114 |
|
$91,795 |
|
$95,801 |
| |
|
|
|
|
|
|
|
|
|
|
| Total: |
|
|
|
|
|
|
|
|
|
|
| Equity and fixed-income programs (C) |
|
$280,858 |
|
$266,535 |
|
$267,545 |
|
$283,231 |
|
$295,129 |
| Collective trust fund programs |
|
204,435 |
|
202,389 |
|
209,496 |
|
225,693 |
|
237,967 |
| Liquidity funds |
|
8,046 |
|
7,789 |
|
8,935 |
|
8,572 |
|
8,435 |
| Total assets under management |
|
$493,339 |
|
$476,713 |
|
$485,976 |
|
$517,496 |
|
$541,531 |
| Client assets under advisement |
|
10,059 |
|
8,140 |
|
7,792 |
|
8,683 |
|
9,016 |
| Client assets under administration (D) |
|
1,045,974 |
|
1,055,943 |
|
1,084,278 |
|
1,136,756 |
|
1,213,745 |
| Platform-only assets |
|
26,948 |
|
27,642 |
|
27,807 |
|
32,003 |
|
34,317 |
| Total assets |
|
$1,576,320 |
|
$1,568,438 |
|
$1,605,853 |
|
$1,694,938 |
|
$1,798,609 |
| |
|
| (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 September 30, 2025). |
| (C) |
Equity and fixed-income programs include $6.9 billion of assets invested in various asset allocation funds (as of September 30, 2025). |
| (D) |
In addition to the assets presented, SEI also administers an additional $11.5 billion in Funds of Funds assets on which SEI does not earn an administration fee (as of September 30, 2025). |
| (E) |
Client assets under administration related to the Family Office Services business divested on June 30, 2025. |
| AVERAGE ASSET BALANCES (In millions) (Unaudited) |
||||||||||
| |
||||||||||
| |
|
3rd Qtr. |
|
4th Qtr. |
|
1st Qtr. |
|
2nd Qtr. |
|
3rd Qtr. |
| |
|
2024 |
|
2024 |
|
2025 |
|
2025 |
|
2025 |
| Investment Managers: |
|
|
|
|
|
|
|
|
|
|
| Collective trust fund programs (A) |
|
$198,839 |
|
$204,954 |
|
$208,720 |
|
$215,085 |
|
$231,088 |
| Liquidity funds |
|
245 |
|
223 |
|
256 |
|
288 |
|
385 |
| Total assets under management |
|
$199,084 |
|
$205,177 |
|
$208,976 |
|
$215,373 |
|
$231,473 |
| Client assets under administration |
|
1,005,111 |
|
1,034,500 |
|
1,061,282 |
|
1,098,925 |
|
1,174,961 |
| Total assets |
|
$1,204,195 |
|
$1,239,677 |
|
$1,270,258 |
|
$1,314,298 |
|
$1,406,434 |
| |
|
|
|
|
|
|
|
|
|
|
| Private Banks: |
|
|
|
|
|
|
|
|
|
|
| Equity and fixed-income programs |
|
$25,823 |
|
$26,067 |
|
$25,894 |
|
$26,533 |
|
$28,051 |
| Collective trust fund programs |
|
5 |
|
4 |
|
4 |
|
3 |
|
3 |
| Liquidity funds |
|
2,858 |
|
2,814 |
|
2,961 |
|
2,771 |
|
2,834 |
| Total assets under management |
|
$28,686 |
|
$28,885 |
|
$28,859 |
|
$29,307 |
|
$30,888 |
| Client assets under administration |
|
8,074 |
|
8,395 |
|
8,488 |
|
8,266 |
|
8,665 |
| Total assets |
|
$36,760 |
|
$37,280 |
|
$37,347 |
|
$37,573 |
|
$39,553 |
| |
|
|
|
|
|
|
|
|
|
|
| Investment Advisors: |
|
|
|
|
|
|
|
|
|
|
| Equity and fixed-income programs |
|
$76,111 |
|
$77,866 |
|
$77,287 |
|
$76,629 |
|
$82,735 |
| Liquidity funds |
|
4,264 |
|
3,031 |
|
3,119 |
|
3,464 |
|
3,378 |
| Total Platform assets under management |
|
$80,375 |
|
$80,897 |
|
$80,406 |
|
$80,093 |
|
$86,113 |
| Platform-only assets |
|
23,194 |
|
25,109 |
|
25,939 |
|
27,288 |
|
30,874 |
| Platform-only assets-deposit program |
|
1,176 |
|
2,186 |
|
2,187 |
|
2,152 |
|
2,136 |
| Total Platform assets |
|
$104,745 |
|
$108,192 |
|
$108,532 |
|
$109,533 |
|
$119,123 |
| |
|
|
|
|
|
|
|
|
|
|
| Institutional Investors: |
|
|
|
|
|
|
|
|
|
|
| Equity and fixed-income programs |
|
$77,473 |
|
$77,399 |
|
$76,492 |
|
$77,843 |
|
$80,802 |
| Collective trust fund programs |
|
1 |
|
1 |
|
1 |
|
— |
|
— |
| Liquidity funds |
|
2,046 |
|
2,154 |
|
1,655 |
|
1,853 |
|
1,810 |
| Total assets under management |
|
$79,520 |
|
$79,554 |
|
$78,148 |
|
$79,696 |
|
$82,612 |
| Client assets under advisement |
|
7,925 |
|
6,991 |
|
5,741 |
|
5,841 |
|
6,274 |
| Total assets |
|
$87,445 |
|
$86,545 |
|
$83,889 |
|
$85,537 |
|
$88,886 |
| |
|
|
|
|
|
|
|
|
|
|
| Investments in New Businesses: |
|
|
|
|
|
|
|
|
|
|
| Equity and fixed-income programs |
|
$2,432 |
|
$2,819 |
|
$2,801 |
|
$2,732 |
|
$2,934 |
| Liquidity funds |
|
546 |
|
269 |
|
274 |
|
244 |
|
255 |
| Total assets under management |
|
$2,978 |
|
$3,088 |
|
$3,075 |
|
$2,976 |
|
$3,189 |
| Client assets under administration (E) |
|
14,973 |
|
14,961 |
|
14,630 |
|
14,917 |
|
— |
| Client assets under advisement |
|
1,885 |
|
2,110 |
|
2,205 |
|
2,329 |
|
2,428 |
| Total assets |
|
$19,836 |
|
$20,159 |
|
$19,910 |
|
$20,222 |
|
$5,617 |
| |
|
|
|
|
|
|
|
|
|
|
| LSV Asset Management: |
|
|
|
|
|
|
|
|
|
|
| Equity and fixed-income programs (B) |
|
$93,195 |
|
$88,880 |
|
$87,790 |
|
$89,422 |
|
$92,969 |
| |
|
|
|
|
|
|
|
|
|
|
| Total: |
|
|
|
|
|
|
|
|
|
|
| Equity and fixed-income programs (C) |
|
$275,034 |
|
$273,031 |
|
$270,264 |
|
$273,159 |
|
$287,491 |
| Collective trust fund programs |
|
198,845 |
|
204,959 |
|
208,725 |
|
215,088 |
|
231,091 |
| Liquidity funds |
|
9,959 |
|
8,491 |
|
8,265 |
|
8,620 |
|
8,662 |
| Total assets under management |
|
$483,838 |
|
$486,481 |
|
$487,254 |
|
$496,867 |
|
$527,244 |
| Client assets under advisement |
|
9,810 |
|
9,101 |
|
7,946 |
|
8,170 |
|
8,702 |
| Client assets under administration (D) |
|
1,028,158 |
|
1,057,856 |
|
1,084,400 |
|
1,122,108 |
|
1,183,626 |
| Platform-only assets |
|
24,370 |
|
27,295 |
|
28,126 |
|
29,440 |
|
33,010 |
| Total assets |
|
$1,546,176 |
|
$1,580,733 |
|
$1,607,726 |
|
$1,656,585 |
|
$1,752,582 |
| |
|
| (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 third-quarter 2025 include $1.4 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 $6.8 billion of average assets invested in various asset allocation funds during third-quarter 2025. |
| (D) |
In addition to the assets presented, SEI also administers an additional $11.5 billion of average assets in Funds of Funds assets during third-quarter 2025 on which SEI does not earn an administration fee. |
| (E) |
Client assets under administration related to the Family Office Services business divested on June 30, 2025. |
| SALES EVENTS (In thousands) (Unaudited) |
||||||||||
| |
||||||||||
| Net Recurring Sales Events |
||||||||||
| |
|
|
|
|
|
|
|
|
|
|
| |
|
3rd Qtr. |
|
4th Qtr. |
|
1st Qtr. |
|
2nd Qtr. |
|
3rd Qtr. |
| |
|
2024 |
|
2024 |
|
2025 |
|
2025 |
|
2025 |
| Investment Processing-related Businesses: |
|
|
|
|
|
|
|
|
|
|
| Investment Managers |
|
$23,319 |
|
$18,027 |
|
$25,296 |
|
$21,928 |
|
$27,460 |
| Private Banks |
|
9,417 |
|
9,245 |
|
7,059 |
|
254 |
|
(6,713) |
| Total Investment Processing-related Businesses |
|
$32,736 |
|
$27,272 |
|
$32,355 |
|
$22,182 |
|
$20,747 |
| |
|
|
|
|
|
|
|
|
|
|
| Asset Management-related Businesses: |
|
|
|
|
|
|
|
|
|
|
| Private Banks-AMD |
|
($854) |
|
$495 |
|
($58) |
|
($174) |
|
($1,674) |
| Investment Advisors |
|
2,686 |
|
1,339 |
|
888 |
|
(1,654) |
|
1,230 |
| Institutional Investors |
|
(576) |
|
(2,673) |
|
41 |
|
2,544 |
|
(594) |
| Total Asset Management-related Businesses |
|
$1,256 |
|
($839) |
|
$871 |
|
$716 |
|
($1,038) |
| |
|
|
|
|
|
|
|
|
|
|
| Newer Initiatives: |
|
|
|
|
|
|
|
|
|
|
| Investments in New Businesses |
|
$936 |
|
$1,778 |
|
$3,614 |
|
$1,245 |
|
$1,208 |
| |
|
|
|
|
|
|
|
|
|
|
| Total Net Recurring Sales Events |
|
$34,928 |
|
$28,211 |
|
$36,840 |
|
$24,143 |
|
$20,917 |
| |
|
|
|
|
|
|
|
|
|
|
| Non-Recurring Sales Events |
||||||||||
| |
|
|
|
|
|
|
|
|
|
|
| |
|
3rd Qtr. |
|
4th Qtr. |
|
1st Qtr. |
|
2nd Qtr. |
|
3rd Qtr. |
| |
|
2024 |
|
2024 |
|
2025 |
|
2025 |
|
2025 |
| Investment Processing-related Businesses: |
|
|
|
|
|
|
|
|
|
|
| Investment Managers |
|
$712 |
|
$2,465 |
|
$835 |
|
$1,102 |
|
$2,465 |
| Private Banks |
|
8,796 |
|
6,622 |
|
7,060 |
|
2,373 |
|
7,087 |
| Total Investment Processing-related Businesses |
|
$9,508 |
|
$9,087 |
|
$7,895 |
|
$3,475 |
|
$9,552 |
| |
|
|
|
|
|
|
|
|
|
|
| Newer Initiatives: |
|
|
|
|
|
|
|
|
|
|
| Investments in New Businesses |
|
$1,976 |
|
$921 |
|
$1,834 |
|
$1,552 |
|
$71 |
| |
|
|
|
|
|
|
|
|
|
|
| Total Non-Recurring Sales Events |
|
$11,484 |
|
$10,008 |
|
$9,729 |
|
$5,027 |
|
$9,623 |
| |
|
|
|
|
|
|
|
|
|
|
| Total Sales Events |
||||||||||
| |
|
|
|
|
|
|
|
|
|
|
| |
|
3rd Qtr. |
|
4th Qtr. |
|
1st Qtr. |
|
2nd Qtr. |
|
3rd Qtr. |
| |
|
2024 |
|
2024 |
|
2025 |
|
2025 |
|
2025 |
| Investment Processing-related Businesses: |
|
|
|
|
|
|
|
|
|
|
| Investment Managers |
|
$24,031 |
|
$20,492 |
|
$26,131 |
|
$23,030 |
|
$29,925 |
| Private Banks |
|
18,213 |
|
15,867 |
|
14,119 |
|
2,627 |
|
374 |
| Total Investment Processing-related Businesses |
|
$42,244 |
|
$36,359 |
|
$40,250 |
|
$25,657 |
|
$30,299 |
| |
|
|
|
|
|
|
|
|
|
|
| Asset Management-related Businesses: |
|
|
|
|
|
|
|
|
|
|
| Private Banks-AMD |
|
($854) |
|
$495 |
|
($58) |
|
($174) |
|
($1,674) |
| Investment Advisors |
|
2,686 |
|
1,339 |
|
888 |
|
(1,654) |
|
1,230 |
| Institutional Investors |
|
(576) |
|
(2,673) |
|
41 |
|
2,544 |
|
(594) |
| Total Asset Management-related Businesses |
|
$1,256 |
|
($839) |
|
$871 |
|
$716 |
|
($1,038) |
| |
|
|
|
|
|
|
|
|
|
|
| Newer Initiatives: |
|
|
|
|
|
|
|
|
|
|
| Investments in New Businesses |
|
$2,912 |
|
$2,699 |
|
$5,448 |
|
$2,797 |
|
$1,279 |
| |
|
|
|
|
|
|
|
|
|
|
| Total Sales Events |
|
$46,412 |
|
$38,219 |
|
$46,569 |
|
$29,170 |
|
$30,540 |
| 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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