seic-20250423
0000350894FALSE00003508942025-04-232025-04-23

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________________________________
FORM 8-K
________________________________________
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
April 23, 2025
Date of report (Date of earliest event reported)
________________________________________
GIF_sei_logo_final_black.gif
________________________________________
SEI INVESTMENTS COMPANY
(Exact name of registrant as specified in charter)
________________________________________
Pennsylvania 0-10200 23-1707341
(State or Other Jurisdiction
of Incorporation)
 (Commission
File Number)		 (I.R.S. Employer
Identification No.)
1 Freedom Valley Drive
Oaks, Pennsylvania 19456
(Address of Principal Executive Offices and Zip Code)
(610) 676-1000
(Registrants’ Telephone Number, Including Area Code)
________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Common Stock, par value $0.01 per shareSEICThe NASDAQ Stock Market LLC



Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 2.02.    Results of Operations and Financial Condition.
On Wednesday, April 23, 2025, SEI Investments Company (the "Company") issued a press release announcing its financial and operating results for the first quarter ended March 31, 2025. A copy of the press release is furnished as Exhibit 99.1 and incorporated in this Item 2.02 by reference. A recording of the earnings call referenced in the press release furnished as Exhibit 99.1 is available for replay on the Company’s website at ir.seic.com/events-presentations/events.
As provided in General Instruction B.2 to Form 8-K, the information furnished in this Item 2.02 and Exhibit 99.1 hereto shall not be deemed “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing with the Securities and Exchange Commission, except as shall be expressly provided by specific reference in such filing.

Item 7.01.    Regulation FD Information.
A copy of an earnings presentation that is intended to be used by representatives of the Company is furnished as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference.
The information furnished pursuant to Item 7.01 and Exhibit 99.2 hereof shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing with the Securities and Exchange Commission, except as shall be expressly provided by specific reference in such filing.
Item 9.01.    Financial Statements and Exhibits.
Exhibit No.Description
99.1
99.2
104  Cover Page Interactive Data File (embedded within the Inline XBRL document)



SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SEI INVESTMENTS COMPANY
Date:April 23, 2025By:/s/ Sean J. Denham
Sean J. Denham
Chief Financial and Chief Operating Officer






headerimage_v1-01.jpg
Investor contact:                        Media contact:                        
Brad Burke                            Leslie Wojcik
SEI                                SEI                                
+1 610-676-5350                        +1 610-676-4191
[email protected]                        [email protected]
Pages:        10

FOR IMMEDIATE RELEASE

SEI Reports First-Quarter 2025 Financial Results

OAKS, Pa., April 23, 2025 – SEI Investments Company (NASDAQ:SEIC) today announced financial results for the first quarter 2025. Relative to the first quarter 2024, EPS increased by 18%, and revenue and operating income grew by 8% and 25%, respectively, with operating margins increasing to 28%.

Consolidated Overview
(In thousands, except earnings per share)For the Three Months Ended March 31,
20252024%
Revenues$551,344 $511,579 8%
Operating income157,097 125,851 25%
Operating margin28 %25 %12%
Net income 151,517 131,400 15%
Diluted earnings per share$1.17 $0.99 18%

“Building upon our strong momentum heading into 2025, our first-quarter results reflect another record quarter in net sales events, totaling $47 million and reinforcing our enterprise mindset and the evolution of our go-to-market strategy. Our business segments achieved higher operating profits and expanded margins—each contributing to our growth in the quarter,” said CEO Ryan Hicke.
“We’ve built our company and a resilient operating model to navigate market cycles, and we continue to engage with our clients to help them make informed, strategic decisions for long-term success. I’m confident in our team’s ability to capitalize on market opportunities, execute our growth strategies, and maximize enterprise value for shareholders.”
1


Summary of First-Quarter Results by Business Segment

(In thousands)For the Three Months Ended March 31,
20252024%
Investment Managers:
Revenues$192,048 $172,653 11%
Expenses117,211 109,550 7%
Operating Profit74,837 63,103 19%
Operating Margin39 %37 %
Private Banks:
Revenues137,714 130,137 6%
Expenses114,749 112,974 2%
Operating Profit22,965 17,163 34%
Operating Margin17 %13 %
Investment Advisors:
Revenues136,576 122,718 11%
Expenses72,455 66,958 8%
Operating Profit64,121 55,760 15%
Operating Margin47 %45 %
Institutional Investors:
Revenues68,506 71,778 (5)%
Expenses35,870 40,109 (11)%
Operating Profit32,636 31,669 3%
Operating Margin48 %44 %
Investments in New Businesses:
Revenues16,500 14,293 15%
Expenses18,496 18,383 1%
Operating Loss(1,996)(4,090)(51)%
Totals:
Revenues$551,344 $511,579 8%
Expenses358,781 347,974 3%
Corporate Overhead Expenses35,466 37,754 (6)%
Income from Operations$157,097 $125,851 25%
2


First-Quarter Business Highlights:
•SEI achieved diluted EPS of $1.17, up 18% from the prior year, reflecting acceleration on the momentum achieved in the second half of 2024. SEI's strong EPS growth is attributable to both operating profit growth and margin improvement in each of our reportable segments, and the benefit of our share repurchase program. SEI had no material items in Q1 2025 affecting the comparability of EPS.
•Net sales events during the first quarter 2025 were $46.6 million, bringing net sales events for the trailing 12 months to $153.2 million. Both the single-quarter and trailing 12-month net sales events represent record-high levels for SEI, and similar to last quarter, the drivers of net sales activity were broad-based, coming from multiple existing and new clients.
◦Despite recent capital markets volatility, SEI's sales pipeline remains solid, and we have not yet sensed any slowdown in market activity.
•Consolidated revenues and operating income increased by 8% and 25%, respectively, from Q1 2024. SEI's consolidated operating margin of 28% represents the highest level achieved in the last three years, demonstrating increasing focus on profitability and cost leverage against healthy revenue growth.
◦Private Banks operating profit growth of 34% reflects the inflection in sales event momentum which began in Q2 2024, in addition to continued cost discipline.
◦Investment Managers operating profit growth of 19% was driven by sales event growth, particularly among alternative and global investment managers. Investment Managers also realized a benefit from new product offerings, notably our Luxembourg depositary services, reflecting investments to enhance our global service offering and operational footprint.
◦Investment Advisors operating profit growth of 15% was largely driven by a $20.8 million contribution from the Integrated Cash Program in Q1 2025, more than double the $9.6 million contribution realized in Q1 2024.
◦Relative to Q4 2024, both Investment Advisors and Institutional Investors realized modest revenue declines, mostly attributable to the full-quarter impact of AUM declines occurring in late 2024 and two fewer calendar days in Q1 2025 vs. Q4 2024.
•Average assets under administration increased by 3%, and average assets under management were flat relative to Q4 2024. Ending assets under management increased by 2% despite a 4.6% decline in US equities in Q1, reflecting SEI's significant diversification across asset types and geographies in addition to modest net inflows for the Advisors and Institutional segments.
◦Institutional Investor and Investment Advisor net flows were modestly positive as inflows into Strategist and traditional SMA offerings offset outflows in mutual fund products.
•Earnings from LSV decreased to $28.7 million in the first quarter 2025 as compared to $31.6 million in the first quarter 2024 due to the full-quarter impact of late-2024 AUM declines in addition to slightly lower incentive fees vs. Q1 2024.
•SEI repurchased 2.5 million shares of common stock for $192.8 million during the first quarter 2025 at an average price of $77.10 per share, bringing total shares repurchased to 8.5 million for the trailing 12 months.
3


Earnings Conference Call
A conference call and presentation to review earnings is scheduled for 5 p.m. Eastern time on April 23, 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.
Link for registration form: https://register-conf.media-server.com/register/BIe62cc6f4c3834b628b007ec32e594a64
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 March 31, 2025, 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:
•the benefits to our clients of our engagement;
•the strength of our pipelines;
•our focus on profitability and cost leverage;
•our investment priorities;
•the value we will deliver to 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, 2024, filed with the Securities and Exchange Commission.
# # #
4


SEI INVESTMENTS COMPANY
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data) (Unaudited)
For the Three Months Ended March 31,
20252024
Asset management, admin. and distribution fees$432,143 $404,366 
Information processing and software servicing fees119,201 107,213 
Total revenues551,344 511,579 
Subadvisory, distribution and other asset mgmt. costs47,532 46,768 
Software royalties and other information processing costs9,081 8,471 
Compensation, benefits and other personnel190,784 192,916 
Stock-based compensation14,138 11,059 
Consulting, outsourcing and professional fees56,001 51,976 
Data processing and computer related39,319 37,160 
Facilities, supplies and other costs18,755 18,603 
Amortization10,710 10,386 
Depreciation7,927 8,389 
Total expenses394,247 385,728 
Income from operations157,097 125,851 
Net gain from investments493 2,256 
Interest and dividend income10,221 10,819 
Interest expense(185)(139)
Equity in earnings of unconsolidated affiliate28,747 31,643 
Income before income taxes196,373 170,430 
Income taxes44,856 39,030 
Net income$151,517 $131,400 
Basic earnings per common share$1.20 $1.00 
Shares used to calculate basic earnings per share126,561 131,417 
Diluted earnings per common share$1.17 $0.99 
Shares used to calculate diluted earnings per share129,450 132,745 
5


SEI INVESTMENTS COMPANY
CONSOLIDATED BALANCE SHEETS
(In thousands) (Unaudited)
March 31,December 31,
20252024
Assets
Current Assets:
Cash and cash equivalents$710,685 $839,891 
Restricted cash302 302 
Receivables from investment products49,460 54,118 
Receivables, net of allowance for doubtful accounts of $1,790 and $1,435
601,338 567,634 
Securities owned31,174 29,583 
Assets held for sale22,765 — 
Other current assets62,663 60,282 
Total Current Assets1,478,387 1,551,810 
Property and Equipment, net of accumulated depreciation of $494,941 and $493,219
159,264 159,643 
Operating Lease Right-of-Use Assets25,225 28,905 
Capitalized Software, net of accumulated amortization of $648,268 and $641,071
235,696 236,023 
Investments278,084 315,567 
Goodwill167,899 170,287 
Intangible Assets, net of accumulated amortization of $37,833 and $55,835
66,484 77,370 
Deferred Contract Costs47,751 45,855 
Deferred Income Taxes55,209 51,984 
Other Assets, net52,043 47,162 
Total Assets$2,566,042 $2,684,606 
Liabilities and Equity
Current Liabilities:
Accounts payable$11,168 $13,081 
Accrued liabilities224,696 347,513 
Current portion of long-term operating lease liabilities7,359 7,900 
Deferred revenue13,824 12,019 
Liabilities related to assets held for sale4,383 — 
Total Current Liabilities261,430 380,513 
Long-term Income Taxes Payable803 803 
Long-term Operating Lease Liabilities20,971 24,235 
Other Long-term Liabilities24,986 26,943 
Total Liabilities308,190 432,494 
Shareholders' Equity:
Common stock, $0.01 par value, 750,000 shares authorized; 124,784 and 126,840 shares issued and outstanding
1,247 1,268 
Capital in excess of par value1,558,125 1,539,816 
Retained earnings737,020 758,003 
Accumulated other comprehensive loss, net(38,540)(46,975)
Total Shareholders' Equity2,257,852 2,252,112 
Total Liabilities and Shareholders' Equity$2,566,042 $2,684,606 
6


SEI INVESTMENTS COMPANY
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
(In thousands) (Unaudited)
For the Three Months Ended March 31,
20252024
Cash flows from operating activities:
Net income$151,517 $131,400 
Adjustments to reconcile net income to net cash provided by operating activities(5,037)(19,106)
Net cash provided by operating activities$146,480 $112,294 
Net cash used in investing activities($38,350)($37,634)
Net cash used in financing activities($241,548)($62,157)
Effect of exchange rate changes on cash, cash equivalents and restricted cash4,212 (572)
Net (decrease) increase in cash, cash equivalents and restricted cash(129,206)11,931 
Cash, cash equivalents and restricted cash, beginning of period840,193 834,998 
Cash, cash equivalents and restricted cash, end of period$710,987 $846,929 
7


ENDING ASSET BALANCES
(In millions) (Unaudited)
Mar. 31,Jun. 30,Sept. 30,Dec. 31,Mar. 31,
20242024202420242025
Investment Managers:
Collective trust fund programs (A)$161,660 $192,747 $204,429 $202,384 $209,491 
Liquidity funds202 221 233 188 244 
Total assets under management$161,862 $192,968 $204,662 $202,572 $209,735 
Client assets under administration959,904 998,315 1,022,515 1,032,812 1,061,067 
Total assets$1,121,766 $1,191,283 $1,227,177 $1,235,384 $1,270,802 
Private Banks:
Equity and fixed-income programs$25,282 $25,031 $26,565 $25,523 $25,590 
Collective trust fund programs5 5 5 4 4 
Liquidity funds2,733 2,699 2,948 2,688 3,670 
Total assets under management$28,020 $27,735 $29,518 $28,215 $29,264 
Client assets under administration8,024 7,813 8,349 8,340 8,365 
Total assets$36,044 $35,548 $37,867 $36,555 $37,629 
Investment Advisors:
Equity and fixed-income programs$74,715 $74,556 $78,361 $76,283 $75,689 
Liquidity funds4,722 4,301 2,790 3,105 3,153 
Total Platform assets under management$79,437 $78,857 $81,151 $79,388 $78,842 
Platform-only assets20,516 21,908 24,501 25,244 25,591 
Platform-only assets-deposit program897 894 2,447 2,398 2,216 
Total Platform assets$100,850 $101,659 $108,099 $107,030 $106,649 
Institutional Investors:
Equity and fixed-income programs$75,969 $75,542 $79,252 $75,481 $76,491 
Collective trust fund programs1 1 1 1 1 
Liquidity funds2,179 2,309 1,829 1,511 1,580 
Total assets under management$78,149 $77,852 $81,082 $76,993 $78,072 
Client assets under advisement6,862 7,886 8,038 5,955 5,573 
Total assets$85,011 $85,738 $89,120 $82,948 $83,645 
Investments in New Businesses:
Equity and fixed-income programs$2,269 $2,285 $2,825 $2,747 $2,661 
Liquidity funds223 631 246 297 288 
Total assets under management$2,492 $2,916 $3,071 $3,044 $2,949 
Client assets under administration (E)15,411 14,848 15,110 14,791 14,846 
Client assets under advisement1,248 1,886 2,021 2,185 2,219 
Total assets$19,151 $19,650 $20,202 $20,020 $20,014 
LSV Asset Management:
Equity and fixed-income programs (B)$93,616 $90,197 $93,855 $86,501 $87,114 
Total:
Equity and fixed-income programs (C)$271,851 $267,611 $280,858 $266,535 $267,545 
Collective trust fund programs161,666 192,753 204,435 202,389 209,496 
Liquidity funds10,059 10,161 8,046 7,789 8,935 
Total assets under management$443,576 $470,525 $493,339 $476,713 $485,976 
Client assets under advisement8,110 9,772 10,059 8,140 7,792 
Client assets under administration (D)983,339 1,020,976 1,045,974 1,055,943 1,084,278 
Platform-only assets21,413 22,802 26,948 27,642 27,807 
Total assets$1,456,438 $1,524,075 $1,576,320 $1,568,438 $1,605,853 
(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 March 31, 2025).
(C)Equity and fixed-income programs include $6.4 billion of assets invested in various asset allocation funds (as of March 31, 2025).
(D)    In addition to the assets presented, SEI also administers an additional $10.9 billion in Funds of Funds assets on which SEI does not earn an administration fee (as of March 31, 2025).
(E)    Client assets under administration include $14.8 billion of assets related to the Family Office Services business to be divested during the second quarter 2025 (as of March 31, 2025).
8


AVERAGE ASSET BALANCES
(In millions) (Unaudited)
1st Qtr.2nd Qtr.3rd Qtr.4th Qtr.1st Qtr.
20242024202420242025
Investment Managers:
Collective trust fund programs (A)$156,737 $189,884 $198,839 $204,954 $208,720 
Liquidity funds207 227 245 223 256 
Total assets under management$156,944 $190,111 $199,084 $205,177 $208,976 
Client assets under administration938,804 982,806 1,005,111 1,034,500 1,061,282 
Total assets$1,095,748 $1,172,917 $1,204,195 $1,239,677 $1,270,258 
Private Banks:
Equity and fixed-income programs$24,593 $24,859 $25,823 $26,067 $25,894 
Collective trust fund programs4 5 5 4 4 
Liquidity funds3,902 2,734 2,858 2,814 2,961 
Total assets under management$28,499 $27,598 $28,686 $28,885 $28,859 
Client assets under administration7,753 7,884 8,074 8,395 8,488 
Total assets$36,252 $35,482 $36,760 $37,280 $37,347 
Investment Advisors:
Equity and fixed-income programs$72,689 $73,793 $76,111 $77,866 $77,287 
Liquidity funds4,649 4,348 4,264 3,031 3,119 
Total Platform assets under management$77,338 $78,141 $80,375 $80,897 $80,406 
Platform-only assets19,198 20,897 23,194 25,109 25,939 
Platform-only assets-deposit program849 886 1,176 2,186 2,187 
Total Platform assets$97,385 $99,924 $104,745 $108,192 $108,532 
Institutional Investors:
Equity and fixed-income programs$76,414 $75,203 $77,473 $77,399 $76,492 
Collective trust fund programs1 1 1 1 1 
Liquidity funds1,812 1,893 2,046 2,154 1,655 
Total assets under management$78,227 $77,097 $79,520 $79,554 $78,148 
Client assets under advisement6,498 7,508 7,925 6,991 5,741 
Total assets$84,725 $84,605 $87,445 $86,545 $83,889 
Investments in New Businesses:
Equity and fixed-income programs$2,200 $2,234 $2,432 $2,819 $2,801 
Liquidity funds214 471 546 269 274 
Total assets under management$2,414 $2,705 $2,978 $3,088 $3,075 
Client assets under administration (E)15,147 14,713 14,973 14,961 14,630 
Client assets under advisement1,194 2,014 1,885 2,110 2,205 
Total assets$18,755 $19,432 $19,836 $20,159 $19,910 
LSV Asset Management:
Equity and fixed-income programs (B)$90,708 $90,849 $93,195 $88,880 $87,790 
Total:
Equity and fixed-income programs (C)$266,604 $266,938 $275,034 $273,031 $270,264 
Collective trust fund programs156,742 189,890 198,845 204,959 208,725 
Liquidity funds10,784 9,673 9,959 8,491 8,265 
Total assets under management$434,130 $466,501 $483,838 $486,481 $487,254 
Client assets under advisement7,692 9,522 9,810 9,101 7,946 
Client assets under administration (D)961,704 1,005,403 1,028,158 1,057,856 1,084,400 
Platform-only assets20,047 21,783 24,370 27,295 28,126 
Total assets$1,423,573 $1,503,209 $1,546,176 $1,580,733 $1,607,726 
(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 first-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 $6.4 billion of average assets invested in various asset allocation funds during first-quarter 2025.
(D)    In addition to the assets presented, SEI also administers an additional $10.6 billion of average assets in Funds of Funds assets during first-quarter 2025 on which SEI does not earn an administration fee.
(E)    Client assets under administration include $14.6 billion of average assets during first-quarter 2025 related to the Family Office Services business to be divested during the second quarter 2025.
9


SALES EVENTS
(In thousands) (Unaudited)
Net Recurring Sales Events
1st Qtr.2nd Qtr.3rd Qtr.4th Qtr.1st Qtr.
20242024202420242025
Investment Processing-related Businesses:
Investment Managers$20,407 $17,180 $23,319 $18,027 $25,296 
Private Banks247 4,331 9,417 9,245 7,059 
Total Investment Processing-related Businesses$20,654 $21,511 $32,736 $27,272 $32,355 
Asset Management-related Businesses:
Private Banks-AMD$(85)$(494)$(854)$495 $(58)
Investment Advisors(942)(3,299)2,686 1,339 888 
Institutional Investors(4,649)(1,787)(576)(2,673)41 
Total Asset Management-related Businesses$(5,676)$(5,580)$1,256 $(839)$871 
Newer Initiatives:
Investments in New Businesses (1)$1,494 $(43)$936 $1,778 $3,614 
Total Net Recurring Sales Events$16,472 $15,888 $34,928 $28,211 $36,840 
Non-Recurring Sales Events
1st Qtr.2nd Qtr.3rd Qtr.4th Qtr.1st Qtr.
20242024202420242025
Investment Processing-related Businesses:
Investment Managers$1,213 $930 $712 $2,465 $835 
Private Banks2,613 4,431 8,796 6,622 7,060 
Total Investment Processing-related Businesses$3,826 $5,361 $9,508 $9,087 $7,895 
Newer Initiatives:
Investments in New Businesses$987 $717 $1,976 $921 $1,834 
Total Non-Recurring Sales Events$4,813 $6,078 $11,484 $10,008 $9,729 
Total Sales Events
1st Qtr.2nd Qtr.3rd Qtr.4th Qtr.1st Qtr.
20242024202420242025
Investment Processing-related Businesses:
Investment Managers$21,620 $18,110 $24,031 $20,492 $26,131 
Private Banks2,860 8,762 18,213 15,867 14,119 
Total Investment Processing-related Businesses$24,480 $26,872 $42,244 $36,359 $40,250 
Asset Management-related Businesses:
Private Banks-AMD$(85)$(494)$(854)$495 $(58)
Investment Advisors(942)(3,299)2,686 1,339 888 
Institutional Investors(4,649)(1,787)(576)(2,673)41 
Total Asset Management-related Businesses$(5,676)$(5,580)$1,256 $(839)$871 
Newer Initiatives:
Investments in New Businesses (1)$2,481 $674 $2,912 $2,699 $5,448 
Total Sales Events$21,285 $21,966 $46,412 $38,219 $46,569 
(1) Includes $1.6 million in total sales events during first-quarter 2025 related to the Family Office Services business to be divested during the second quarter 2025. The net annualized recurring revenues associated with these sales events is approximately $994 thousand.

10

SEI Investments Company (NASDAQ: SEIC) Q1 2025 Earnings Presentation

 
This presentation 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," ”remain” and "continue" or "appear." Our forward-looking statements include our current expectations as to: • our ability to maintain our sales momentum; • how we are reshaping our operating model, deepening client engagement and relationships, strengthening our talent, and sharpening our strategic vision, if at all; • our ability to serve the world’s most sophisticated institutional, wealth, and asset management organizations; • the ability of Aquiline to accelerate the growth and adoption of our Family Office Services platform that we sold to Aquiline; • our strategic priorities and our ability to execute against these priorities; • the strength of our position to address the current and future uncertainties; • the impacts of market uncertainty; • the momentum, strength and resiliency of our pipelines and business units; • our investment priorities; • our ability to deliver sustained, long-term growth and shareholder value; • the demand for our products and services; • the degree to which, if any, new sales events will result in revenue; • the timing and magnitude of certain investments to support business growth as well the effect these expenses may have on margins; • the headwinds that may affect our businesses; • the opportunities available to us for growth and to gain share in the markets in which we currently, and seek to, participate; • the performance of our various businesses, including the margins and profitability of such businesses and the events that may affect the margins, profitability and growth prospects of these businesses; • the benefits, if any, that we or our clients may derive from acquired assets; • the strength and elements of our balance sheet; • the strength of our pipelines and the momentum that each may have; • the benefits of our expense management efforts and our focus on these efforts; • our run rate and the stability of the elements of that run rate; • the effects of any change to the federal funds rate on our businesses or products and the revenue associated with these items; • our ability to build an ecosystem that can meet the needs of larger and more sophisticated advisors and the degree to which these investments will provide the capability to move upmarket; • the amount of revenue we may generate from the cash balances in our Integrated Cash Program, the degree to which the revenue we generate will moderate and the potential causation of this moderation, if any; • the degree to which alternative managers are positioned to excel; • the amount, if any, of management fees that may be received by LSV and the contribution of such management fees to our equity income; • the resiliency of our business; and • the market dynamics affecting our businesses. 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, 2024, filed with the Securities and Exchange Commission. Past performance does not guarantee future results. Safe Harbor Statement 2 SEI Earnings PresentationQ1 2025

 
Q1 2025 vs. Q1 '24 vs. Q4 '24 Revenues 551.3 7.8% -1.1% Operating Income 157.1 24.8% 8.0% Net Income 151.5 15.3% -2.7% EPS $1.17 18.2% -1.7% Net Sales Events 46.6 118.8% 21.9% Operating Margin 28.5% 3.9% 2.4% Assets Under Management ($B) 486.0 9.6% 1.9% Administration, Platform & Advisement ($B) 1,119.9 10.6% 2.6% % Change Q1 2025 highlights. SEI Earnings PresentationQ1 2025 Net sales events reflect highest quarter in SEI history, surpassing prior record achieved in Q3 2024 for both total and recurring net sales events Sales pipelines currently remain robust, with optimism particular coming from Investment Managers and Private Banking clients SEI has historically been successful navigating market uncertainty. Our diversified business model and fortress balance sheet have been core to this success and position us exceptionally well for current market uncertainty $ in millions except EPS; AUM; and Assets under administration, platform-only, and advisement; and platform-only assets Operating margin % change represents improvement or decline in margin rate vs. prior period Q1 2025 reflects business momentum Q1 2025 Financial Snapshot 3

 
Earnings per share. SEI Earnings PresentationQ1 2025 All business units realized operating profit and margin growth vs. Q1 2024; share repurchases over the last 12 months were also a notable contributor to growth Modest EPS decline vs. Q4 2024 primarily driven by a higher tax rate, consistent with historical seasonality, and lower LSV income driven by lower incentive fees in Q1 Impact of unusual items affecting comparability in Q1 2025 was negligible Q1 EPS grew 18% vs. prior year $0.99 $0.03 $0.05 $0.01 $0.07 -$0.02 $0.01 $0.00 $0.03 $1.17 Q1 2024 Private Banks Investment Advisors Institutional Investors Investment Managers LSV Income Corporate Overhead Tax Rate & Other Share Count Q1 2025 +18% $1.19 $0.02 $0.01 $0.00 $0.01 -$0.03 $0.02 -$0.07 $0.02 $1.17 Q4 2024 Private Banks Investment Advisors Institutional Investors Investment Managers LSV Income Corporate Overhead Tax Rate & Other Share Count Q1 2025 -1% Ye ar -O ve r- Ye ar Q ua rt er -O ve r- Q ua rt er 4

 
Business unit performance. SEI Earnings PresentationQ1 2025 Revenue ($M) Private Banking growth supported by recent sales momentum and increased professional services work, which quickly converts to revenue Investment Managers growth driven by continued sales event growth, particularly among alternative and global investment managers Advisor growth driven by Integrated Cash Program ($21M revenue), an $11M increase over Q1 ‘24 Sequential decline in Advisor and Institutional revenue attributable to full-quarter impact of market losses occurring in late 2024 Business unit highlightsOperating profit ($M) $130 $173 $123 $72 $140 $191 $139 $71 $138 $192 $137 $69 Private Banking Investment Managers Investment Advisors Institutional Investors Q1 2024 Q4 2024 Q1 2025 $17 $63 $56 $32 $20 $73 $62 $32 $23 $75 $64 $33 Private Banking Investment Managers Investment Advisors Institutional Investors Q1 2024 Q4 2024 Q1 2025 +6% +11% +11% -5% +34% +19% +15% +3% 5

 
Operating margins. SEI Earnings PresentationQ1 2025 0.0% 2.0% 4.0% Private Banking Investment Managers Investment Advisors Institutional Investors Quarter-Over-Quarter Year-Over-Year Business unit margin changes HighlightsConsolidated operating margin 10.0% 20.0% 30.0% Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Profitability in each business unit increased relative to the prior year and prior quarter Consolidated operating margin increased to 28.5%; highest level achieved in three years Margin improvements driven by positive operating leverage, lack of unusual or one-time expenses, contribution from Integrated Cash Program, and continued focus on cost control 6

 
Net sales events. SEI Earnings PresentationQ1 2025 $11.1 $8.5 $16.5 $15.9 $34.9 $28.2 $36.8 $3.3 $5.3 $4.8 $6.1 $11.5 $10.0 $9.7 Q3 '23 Q4 '23 Q1 '24 Q2 '24 Q3 '24 Q4 '24 Q1 '25 Recurring Non-Recurring Total net sales events ($M) Broad-based growth in sales events across segments, geographies, existing and new clients Investment Managers led sales in Q1, driven by mix of global and domestic clients, existing and new clients, and new product offerings Private Banking sales driven by both new and existing client wins, client M&A activity and strong renewal activity SEI Sphere win within Investments in New Businesses segment reflects enterprise approach and successful client engagement Net sales events reached record $153M in TTM Q1 7

 
Client asset summary. SEI Earnings PresentationQ1 2025 AUA and assets on platform ($B)* AUM ($B) $1,013 $1,092 $1,120 Q1 2024 Q4 2024 Q1 2025 +11% +3% $444 $477 $486 Q1 2024 Q4 2024 Q1 2025 +10% +2% Highlights • Both AUM and AUA increased relative to the prior year and prior quarter • Ending AUM increased 2% sequentially despite 4.6% decline in S&P 500, demonstrating diversification across geographies and asset classes • Modest net inflows in Institutional and Advisors driven by strategist and traditional SMA offerings, offsetting outflows in mutual funds • LSV sequential increase in AUM reflects focus on global and value equities, which outperformed in Q1 • Launched initiatives to enhance SEI offering in Q1, notably direct indexing SMA program and alternative investment product marketplace *Assets under administration, advisement and platform-only 8

 
Capital allocation, liquidity, and capitalization. SEI Earnings PresentationQ1 2025 $193 $649 $62 $123 Q1 '25 TTM Q1 '25 Buybacks Dividends Capital returned to shareholders ($M) Liquidity and capitalization ($M) $711 $0 $9,850 Cash Long-Term Debt Market Capitalization SEI returned $255M of capital to shareholders through dividends and share repurchases in Q1 2025 Commitment to further share repurchases supported by $500M increase in share repurchase authorization Low leverage and investment capacity represent strategic advantage, particularly in current market environment Highlights 9

 
For institutional investor and financial advisor use only. Not for distribution to general public. Thank You 10