Sei Investments Co 8-K, filed Oct 21, 2026
Sei Investments Co (SEIC)
8-K
2026-10-21
For: 2026-10-21
View Original
Added on
October 22, 2026
About this 8-K
Sei Investments Co filed this 8-K on October 21, 2026.
SEI Investments Company reported third-quarter 2026 revenue growth of 14%, adjusted diluted EPS growth of 24% to $1.64, and a 31% adjusted operating margin. On October 20, 2026, board added $800.0 million to repurchases, raising authorization to approximately $925.6 million. AI summary
Items reported
- Item 2.02: Financial results
- Item 7.01: Regulation FD disclosure
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
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
Date of report (Date of earliest event reported)
________________________________________
________________________________________
(Exact name of registrant as specified in charter)
________________________________________
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||
(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 class | Trading Symbol | Name of each exchange on which registered | ||||||||||||
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, October 21, 2026, SEI Investments Company (the "Company") issued a press release announcing its financial and operating results for the third quarter ended September 30, 2026. 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 8.01. Other Events.
On Tuesday, October 20, 2026, the Board of Directors of SEI Investments Company approved an increase in its stock repurchase program by an additional $800.0 million, increasing the available authorization under the program to approximately $925.6 million.
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: | October 21, 2026 | By: | /s/ Sean J. Denham | ||||||||
| Sean J. Denham Chief Financial and Chief Operating Officer | |||||||||||
SEI Reports Third-Quarter 2026 Financial Results
OAKS, Pa., Oct. 21, 2026 – SEI Investments Company (NASDAQ:SEIC) today announced financial results for the third quarter 2026. Relative to the third quarter 2025, EPS increased by 6%, and revenue and operating income grew by 14% and 24%, respectively, with operating margin increasing to 30%. On an adjusted basis, EPS and operating income grew 24% and 25%, respectively, with the adjusted operating margin increasing to 31%. In addition, on October 20, 2026, SEI's Board of Directors approved an increase in the stock repurchase program by an additional $800 million, increasing the available authorization under the program to approximately $926 million.
Consolidated Overview | ||||||||||||||||||||||||||||||||||||||
(In thousands, except earnings per share) | For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||||||
2026 | 2025 | % | 2026 | 2025 | % | |||||||||||||||||||||||||||||||||
U.S. GAAP Basis | ||||||||||||||||||||||||||||||||||||||
Revenues | $662,043 | $578,511 | 14% | $1,925,843 | $1,689,456 | 14% | ||||||||||||||||||||||||||||||||
Income from operations | 197,999 | 159,961 | 24% | 584,501 | 465,693 | 26% | ||||||||||||||||||||||||||||||||
Operating margin | 30 | % | 28 | % | 7% | 30 | % | 28 | % | 7% | ||||||||||||||||||||||||||||
Net income attributable to SEI Investments | 168,258 | 164,204 | 2% | 538,403 | 542,804 | (1)% | ||||||||||||||||||||||||||||||||
Diluted earnings per share | $1.38 | $1.30 | 6% | $4.37 | $4.25 | 3% | ||||||||||||||||||||||||||||||||
Non-GAAP Basis(1) | ||||||||||||||||||||||||||||||||||||||
Adjusted income from operations | $208,493 | $166,896 | 25% | $614,127 | $480,054 | 28% | ||||||||||||||||||||||||||||||||
Adjusted diluted earnings per share | $1.64 | $1.32 | 24% | $4.73 | $3.71 | 27% | ||||||||||||||||||||||||||||||||
Adjusted operating margin | 31 | % | 29 | % | 7% | 32 | % | 28 | % | 14% | ||||||||||||||||||||||||||||
(1) See Non-GAAP Information and Reconciliations on pgs 11-12
“SEI’s third-quarter results reinforce our confidence in the strategy and operating model we have put in place. Our growth is broad-based, our client relationships are becoming deeper and more strategic, and our year-to-date sales results have already surpassed the highest full-year total in SEI’s history,” said CEO Ryan Hicke.
“We are increasingly engaging with clients not as a vendor, but as a growth and transformation partner, bringing together our technology, operations, data, investment solutions, and expertise to help them achieve their most important business objectives. We remain focused on executing with discipline, investing where we can create differentiated value, and building a more scalable business that can deliver durable growth for our clients and shareholders.”
1
Summary of Third-Quarter Results by Business Segment
(In thousands) | For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||||||
2026 | 2025 | % | 2026 | 2025 | % | |||||||||||||||||||||||||||||||||
Investment Managers: | ||||||||||||||||||||||||||||||||||||||
Revenues | $235,817 | $207,050 | 14% | $684,213 | $594,165 | 15% | ||||||||||||||||||||||||||||||||
Expenses | 143,562 | 125,934 | 14% | 413,479 | 364,781 | 13% | ||||||||||||||||||||||||||||||||
Operating Profit | 92,255 | 81,116 | 14% | 270,734 | 229,384 | 18% | ||||||||||||||||||||||||||||||||
Operating Margin | 39 | % | 39 | % | 40 | % | 39 | % | ||||||||||||||||||||||||||||||
Private Banks: | ||||||||||||||||||||||||||||||||||||||
Revenues | 160,439 | 143,994 | 11% | 469,580 | 423,157 | 11% | ||||||||||||||||||||||||||||||||
Expenses | 128,275 | 120,763 | 6% | 373,526 | 354,236 | 5% | ||||||||||||||||||||||||||||||||
Operating Profit | 32,164 | 23,231 | 38% | 96,054 | 68,921 | 39% | ||||||||||||||||||||||||||||||||
Operating Margin | 20 | % | 16 | % | 20 | % | 16 | % | ||||||||||||||||||||||||||||||
Investment Advisors: | ||||||||||||||||||||||||||||||||||||||
Revenues | 185,378 | 147,465 | 26% | 532,970 | 421,234 | 27% | ||||||||||||||||||||||||||||||||
Expenses | 107,678 | 79,128 | 36% | 305,901 | 227,384 | 35% | ||||||||||||||||||||||||||||||||
Non-controlling interests and other, net (A) | 2,034 | — | NM* | 4,732 | — | NM | ||||||||||||||||||||||||||||||||
Operating Profit | 75,666 | 68,337 | 11% | 222,337 | 193,850 | 15% | ||||||||||||||||||||||||||||||||
Operating Margin | 41 | % | 46 | % | 42 | % | 46 | % | ||||||||||||||||||||||||||||||
Institutional Investors: | ||||||||||||||||||||||||||||||||||||||
Revenues | 70,638 | 71,826 | (2)% | 211,856 | 209,675 | 1% | ||||||||||||||||||||||||||||||||
Expenses | 37,801 | 38,068 | (1)% | 111,764 | 109,795 | 2% | ||||||||||||||||||||||||||||||||
Operating Profit | 32,837 | 33,758 | (3)% | 100,092 | 99,880 | —% | ||||||||||||||||||||||||||||||||
Operating Margin | 46 | % | 47 | % | 47 | % | 48 | % | ||||||||||||||||||||||||||||||
Investments in New Businesses: | ||||||||||||||||||||||||||||||||||||||
Revenues | 9,771 | 8,176 | 20% | 27,224 | 41,225 | (34)% | ||||||||||||||||||||||||||||||||
Expenses | 10,588 | 11,863 | (11)% | 29,820 | 48,789 | (39)% | ||||||||||||||||||||||||||||||||
Operating Loss | (817) | (3,687) | (78)% | (2,596) | (7,564) | (66)% | ||||||||||||||||||||||||||||||||
Totals: | ||||||||||||||||||||||||||||||||||||||
Revenues | $662,043 | $578,511 | 14% | $1,925,843 | $1,689,456 | 14% | ||||||||||||||||||||||||||||||||
Expenses | 427,904 | 375,756 | 14% | 1,234,490 | 1,104,985 | 12% | ||||||||||||||||||||||||||||||||
Corporate Overhead Expenses | 36,140 | 42,794 | (16)% | 106,852 | 118,778 | (10)% | ||||||||||||||||||||||||||||||||
Income from operations (B) | $197,999 | $159,961 | 24% | $584,501 | $465,693 | 26% | ||||||||||||||||||||||||||||||||
Adjusted income from operations | $208,493 | $166,896 | 25% | $614,127 | $480,054 | 28% | ||||||||||||||||||||||||||||||||
(A) Primarily includes non-controlling interest and earnings from equity method investments.
(B) Excludes non-controlling interests and other, net
* Variances noted "NM" indicate the percent change is not meaningful.
2
Third-Quarter Business Highlights:
•SEI delivered strong third-quarter results, with diluted EPS increasing 6% compared to the prior year. On an adjusted basis, diluted EPS increased 24% to $1.64, driven by revenue growth, margin expansion, and a 3% reduction in share count from SEI's share repurchase program.
◦Third-quarter operating income included $6.4 million of additional incentive compensation expense associated with the strength of year-to-date performance and the current outlook for the remainder of the year.
•Third-quarter net sales events totaled $46.8 million, the second-highest quarterly level in SEI history, bringing year-to-date net sales events to $157.4 million.
◦Investment Managers led the quarter with $32.0 million of net sales events, with contributions from both new client wins and expansions with existing clients.
◦Private Banks generated $12.6 million of net sales events, reflecting continued demand across enterprise transformation initiatives, professional services, Data Cloud capabilities, and asset management solutions.
◦Investment Advisors generated $2.4 million of net sales events, while Institutional Investors recorded negative $2.3 million of net sales events.
•Consolidated revenues and operating income increased by 14% and 24%, respectively, from Q3 2025. On an adjusted basis, operating income increased by 25% with adjusted operating margins increasing to 31%, up 260 basis points from Q3 2025.
◦Private Banking revenue increased 11% and operating profit increased 38%, demonstrating strong operating leverage as the business continues to grow, including increased adoption of professional services.
◦Investment Managers revenue and operating profit increased 14% as prior sales success continued to convert into revenue and demand for outsourcing solutions remained strong. Absent the elevated incentive compensation accrual, Investment Managers operating profit would have increased by 17% vs. the prior year.
◦Investment Advisors revenue increased 26% and operating profit increased 11%, benefiting from Stratos and growth in the underlying Advisors business. Stratos contributed $23.3 million of revenue and $4.4 million of operating profit, including $7.3 million of acquired intangible amortization. Excluding Stratos, Advisors revenue increased 10% and operating profit increased 7%. SEI's integrated cash program contributed $20.8 million during the quarter, matching Q3 2025.
◦Institutional Investors revenue declined 2% and operating profit declined 3%, reflecting prior client outflows.
•Ending assets under management decreased 0.1% to $606.4 billion from Q2 2026, as market values and net flows were little changed. Assets under administration, assets on platform, and assets under advisement increased 4% during the quarter, driven primarily by continued growth in Investment Managers, including funding from recently won mandates and additional client capital deployment.
•LSV assets declined 1% from Q2 as strong investment performance was offset by $5.3 billion of net outflows. Performance fees totaled $4.5 million during the quarter at SEI's share.
•SEI repurchased 2.0 million shares of common stock for $215.1 million at an average price of $105.24 per share. SEI ended the quarter with $399.8 million of cash and recently authorized an additional $800 million of share repurchase capacity.
•Other expenses consist of a $32.5 million one-time charge associated with the termination agreement with Stratos to purchase their Mexican based subsidiary, NSC.
3
Earnings Conference Call
A conference call and presentation to review earnings is scheduled for 5 p.m. Eastern time on
Wednesday, October 21, 2026. A live webcast of the call will be available on SEI's Investor Relations website at ir.seic.com/events-presentations/events, where a replay will also be posted following the call.
Wednesday, October 21, 2026. A live webcast of the call will be available on SEI's Investor Relations website at ir.seic.com/events-presentations/events, where a replay will also be posted following the call.
Participants may also access the call by telephone by dialing 877-407-8293 (in the U.S.) or +1 201-689-8349 (International). Please dial in at least 10 minutes prior to the start of the call.
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 September 30, 2026, SEI manages, advises, or administers approximately $2.1 trillion in assets. For more information, visit seic.com.
This release contains forward-looking statements within the meaning of 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:
•whether year-end performance will be of a level sufficient to justify incentive compensation awards consistent with increased accruals;
•the level of share buy-backs;
•the growth trajectory of our assets under administration and Private Banking business;
•the demand for outsourcing services and enterprise transformation initiatives; 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 December 31, 2025, filed with the Securities and Exchange Commission.
Investor contact: | Media contact: | |||||||
Brad Burke | Alicia Rudd | |||||||
SEI | SEI | |||||||
+1610-676-5350 | +1 610-676-3887 | |||||||
bburke2@seic.com | arudd@seic.com | |||||||
4
SEI INVESTMENTS COMPANY
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data) (Unaudited)
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||||||||||||
2026 | 2025 | 2026 | 2025 | |||||||||||||||||||||||
Asset management, admin. and distribution fees | $531,417 | $461,964 | $1,542,883 | $1,331,650 | ||||||||||||||||||||||
Information processing and software servicing fees | 130,626 | 116,547 | 382,960 | 357,806 | ||||||||||||||||||||||
Total revenues | 662,043 | 578,511 | 1,925,843 | 1,689,456 | ||||||||||||||||||||||
Subadvisory, distribution and other asset mgmt. costs | 61,194 | 55,072 | 177,920 | 152,313 | ||||||||||||||||||||||
Software royalties and other information processing costs | 9,878 | 9,434 | 29,487 | 27,706 | ||||||||||||||||||||||
Compensation, benefits and other personnel | 220,069 | 203,739 | 634,223 | 594,097 | ||||||||||||||||||||||
Stock-based compensation | 16,000 | 13,956 | 46,809 | 41,985 | ||||||||||||||||||||||
Consulting, outsourcing and professional fees | 58,394 | 54,401 | 169,066 | 167,344 | ||||||||||||||||||||||
Data processing and computer related | 49,388 | 41,569 | 141,123 | 122,689 | ||||||||||||||||||||||
Facilities, supplies and other costs | 22,318 | 20,982 | 64,093 | 61,481 | ||||||||||||||||||||||
Amortization | 19,684 | 11,912 | 57,175 | 33,071 | ||||||||||||||||||||||
Depreciation | 7,119 | 7,485 | 21,446 | 23,077 | ||||||||||||||||||||||
Total expenses | 464,044 | 418,550 | 1,341,342 | 1,223,763 | ||||||||||||||||||||||
Income from operations | 197,999 | 159,961 | 584,501 | 465,693 | ||||||||||||||||||||||
Net gain from investments | 1,206 | 1,992 | 4,387 | 4,244 | ||||||||||||||||||||||
Interest and dividend income | 6,866 | 10,207 | 21,040 | 29,711 | ||||||||||||||||||||||
Interest expense | (606) | (109) | (1,641) | (386) | ||||||||||||||||||||||
Gain on sale of business | — | — | — | 94,412 | ||||||||||||||||||||||
Other (expense) income | (32,500) | 4,922 | (32,050) | 9,422 | ||||||||||||||||||||||
Equity in earnings of unconsolidated affiliates | 39,819 | 31,903 | 110,989 | 94,290 | ||||||||||||||||||||||
Net gain from consolidated variable interest entities | 1,809 | 1,845 | 11,363 | 1,845 | ||||||||||||||||||||||
Income before income taxes | 214,593 | 210,721 | 698,589 | 699,231 | ||||||||||||||||||||||
Income taxes | 43,346 | 46,135 | 151,015 | 156,045 | ||||||||||||||||||||||
Net income | $171,247 | $164,586 | $547,574 | $543,186 | ||||||||||||||||||||||
Less: Net income attributable to non-controlling interests | 2,989 | 382 | 9,171 | 382 | ||||||||||||||||||||||
Net income attributable to SEI Investments Company | $168,258 | $164,204 | $538,403 | $542,804 | ||||||||||||||||||||||
Basic earnings per common share | $1.42 | $1.33 | $4.48 | $4.35 | ||||||||||||||||||||||
Shares used to calculate basic earnings per share | 118,415 | 123,099 | 120,138 | 124,710 | ||||||||||||||||||||||
Diluted earnings per common share | $1.38 | $1.30 | $4.37 | $4.25 | ||||||||||||||||||||||
Shares used to calculate diluted earnings per share | 122,012 | 126,325 | 123,280 | 127,684 | ||||||||||||||||||||||
Dividends declared per common share | $— | $— | $0.52 | $0.49 | ||||||||||||||||||||||
5
SEI INVESTMENTS COMPANY
CONSOLIDATED CONDENSED BALANCE SHEETS
(In thousands) (Unaudited)
September 30, | December 31, | |||||||||||||
2026 | 2025 | |||||||||||||
Assets | ||||||||||||||
Current Assets: | ||||||||||||||
Cash and cash equivalents | $399,766 | $399,804 | ||||||||||||
Receivables from investment products | 59,278 | 63,317 | ||||||||||||
Receivables, net | 851,279 | 709,748 | ||||||||||||
Securities owned | 25,750 | 33,777 | ||||||||||||
Other current assets | 75,611 | 66,691 | ||||||||||||
Total Current Assets | 1,411,684 | 1,273,337 | ||||||||||||
Property and Equipment, net | 153,496 | 150,434 | ||||||||||||
Operating Lease Right-of-Use Assets | 30,186 | 26,447 | ||||||||||||
Capitalized Software, net | 224,189 | 234,272 | ||||||||||||
Investments | 335,895 | 428,004 | ||||||||||||
Assets of Consolidated Variable Interest Entities | 223,785 | 183,994 | ||||||||||||
Goodwill | 392,205 | 354,989 | ||||||||||||
Intangible assets, net | 481,727 | 368,272 | ||||||||||||
Other Assets, net | 181,472 | 240,095 | ||||||||||||
Total Assets | $3,434,639 | $3,259,844 | ||||||||||||
Liabilities, Redeemable Non-controlling Interests and Equity | ||||||||||||||
Current Liabilities: | ||||||||||||||
Accounts payable | $13,905 | $5,404 | ||||||||||||
Accrued liabilities | 284,920 | 359,823 | ||||||||||||
Current portion of long-term debt | 5,754 | — | ||||||||||||
Current portion of long-term operating lease liabilities | 9,124 | 8,677 | ||||||||||||
Deferred revenue | 13,648 | 13,307 | ||||||||||||
Total Current Liabilities | 327,351 | 387,211 | ||||||||||||
Long-term Debt | 30,951 | — | ||||||||||||
Liabilities of Consolidated Variable Interest Entities | 136,536 | 108,504 | ||||||||||||
Other Long-term Liabilities | 62,503 | 60,353 | ||||||||||||
Total Liabilities | 557,341 | 556,068 | ||||||||||||
Redeemable Non-controlling Interests | 323,105 | 243,959 | ||||||||||||
Equity: | ||||||||||||||
Shareholders' Equity: | ||||||||||||||
Common stock, $0.01 par value, 750,000 shares authorized; 118,942 and 122,232 shares issued and outstanding | 1,189 | 1,222 | ||||||||||||
Capital in excess of par value | 1,758,970 | 1,678,787 | ||||||||||||
Retained earnings | 785,633 | 792,280 | ||||||||||||
Accumulated other comprehensive loss, net | (33,229) | (24,505) | ||||||||||||
Total SEI Shareholders' Equity | 2,512,563 | 2,447,784 | ||||||||||||
Non-controlling interests | 41,630 | 12,033 | ||||||||||||
Total Equity | $2,554,193 | $2,459,817 | ||||||||||||
Total Liabilities, Redeemable Non-controlling Interests and Equity | $3,434,639 | $3,259,844 | ||||||||||||
6
SEI INVESTMENTS COMPANY
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
(In thousands) (Unaudited)
For the Nine Months Ended September 30, | ||||||||||||||
2026 | 2025 | |||||||||||||
Cash flows from operating activities: | ||||||||||||||
Net income | $547,574 | $543,186 | ||||||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | 17,753 | (61,922) | ||||||||||||
Net cash provided by operating activities | $565,327 | $481,264 | ||||||||||||
Net cash (used in) provided by investing activities | ($32,087) | $40,497 | ||||||||||||
Net cash used in financing activities | ($512,509) | ($516,474) | ||||||||||||
Effect of exchange rate changes on cash, cash equivalents | (6,103) | 11,953 | ||||||||||||
Net change in cash and cash equivalents and cash and cash equivalents held at consolidated variable interest entities | 14,628 | 17,240 | ||||||||||||
Cash, cash equivalents and cash and cash equivalents held at consolidated variable interest entities, beginning of period | 470,595 | 840,193 | ||||||||||||
Cash, cash equivalents and cash and cash equivalents held at consolidated variable interest entities, end of period | $485,223 | $857,433 | ||||||||||||
Reconciliation of Cash, cash equivalents and cash and cash equivalents held at consolidated variable interest entities to the Consolidated Balance Sheets: | September 30, | December 31, | ||||||||||||
2026 | 2025 | |||||||||||||
Cash and cash equivalents | $399,766 | $399,804 | ||||||||||||
Cash and cash equivalents held at consolidated variable interest entities | 85,457 | 70,791 | ||||||||||||
Total cash and cash equivalents and cash and cash equivalents held at consolidated variable interest entities | $485,223 | $470,595 | ||||||||||||
7
ENDING ASSET BALANCES
(In millions) (Unaudited)
Sep. 30 | Dec. 31 | Mar. 31 | Jun. 30 | Sep. 30 | ||||||||||||||||||||||||||||
2025 | 2025 | 2026 | 2026 | 2026 | ||||||||||||||||||||||||||||
Investment Managers: | ||||||||||||||||||||||||||||||||
Collective trust fund programs (A) | $237,964 | $243,244 | $243,900 | $265,265 | $267,693 | |||||||||||||||||||||||||||
Liquidity funds | 418 | 579 | 536 | 464 | 493 | |||||||||||||||||||||||||||
Total assets under management | $238,382 | $243,823 | $244,436 | $265,729 | $268,186 | |||||||||||||||||||||||||||
Client assets under administration | 1,204,843 | 1,239,606 | 1,284,781 | 1,351,307 | 1,400,810 | |||||||||||||||||||||||||||
Total assets | $1,443,225 | $1,483,429 | $1,529,217 | $1,617,036 | $1,668,996 | |||||||||||||||||||||||||||
Private Banks: | ||||||||||||||||||||||||||||||||
Equity and fixed-income programs | $28,408 | $29,832 | $29,753 | $32,520 | $32,949 | |||||||||||||||||||||||||||
Collective trust fund programs | 3 | 3 | 4 | 4 | 4 | |||||||||||||||||||||||||||
Liquidity funds | 2,802 | 2,099 | 2,178 | 1,709 | 1,646 | |||||||||||||||||||||||||||
Total assets under management | $31,213 | $31,934 | $31,935 | $34,233 | $34,599 | |||||||||||||||||||||||||||
Client assets under administration | 8,902 | 9,115 | 9,143 | 9,405 | 9,784 | |||||||||||||||||||||||||||
Total assets | $40,115 | $41,049 | $41,078 | $43,638 | $44,383 | |||||||||||||||||||||||||||
Investment Advisors: | ||||||||||||||||||||||||||||||||
Equity and fixed-income programs | $85,245 | $86,879 | $86,612 | $94,390 | $94,470 | |||||||||||||||||||||||||||
Liquidity funds | 3,391 | 3,561 | 3,485 | 3,391 | 3,306 | |||||||||||||||||||||||||||
Total Platform assets under management | $88,636 | $90,440 | $90,097 | $97,781 | $97,776 | |||||||||||||||||||||||||||
Platform-only assets | 32,152 | 33,582 | 34,070 | 38,308 | 38,464 | |||||||||||||||||||||||||||
Platform-only assets-deposit program | 2,165 | 2,461 | 2,294 | 2,358 | 2,326 | |||||||||||||||||||||||||||
Total Platform assets | $122,953 | $126,483 | $126,461 | $138,447 | $138,566 | |||||||||||||||||||||||||||
Institutional Investors: | ||||||||||||||||||||||||||||||||
Equity and fixed-income programs | $82,676 | $84,254 | $82,195 | $86,690 | $84,533 | |||||||||||||||||||||||||||
Liquidity funds | 1,580 | 1,604 | 1,503 | 1,559 | 1,485 | |||||||||||||||||||||||||||
Total assets under management | $84,256 | $85,858 | $83,698 | $88,249 | $86,018 | |||||||||||||||||||||||||||
Client assets under advisement | 6,564 | 3,598 | 3,549 | 3,790 | 3,776 | |||||||||||||||||||||||||||
Total assets | $90,820 | $89,456 | $87,247 | $92,039 | $89,794 | |||||||||||||||||||||||||||
Investments in New Businesses: | ||||||||||||||||||||||||||||||||
Equity and fixed-income programs | $2,999 | $3,044 | $3,087 | $3,351 | $3,289 | |||||||||||||||||||||||||||
Liquidity funds | 244 | 316 | 252 | 236 | 404 | |||||||||||||||||||||||||||
Total assets under management | $3,243 | $3,360 | $3,339 | $3,587 | $3,693 | |||||||||||||||||||||||||||
Client assets under advisement | 2,452 | 2,389 | 2,185 | 2,506 | 2,613 | |||||||||||||||||||||||||||
Total assets | $5,695 | $5,749 | $5,524 | $6,093 | $6,306 | |||||||||||||||||||||||||||
LSV Asset Management: | ||||||||||||||||||||||||||||||||
Equity and fixed-income programs (B) | $95,801 | $99,196 | $100,567 | $117,146 | $116,080 | |||||||||||||||||||||||||||
Stratos Wealth Holdings (E) | $— | $38,637 | $38,291 | $41,889 | $41,655 | |||||||||||||||||||||||||||
Total: | ||||||||||||||||||||||||||||||||
Equity and fixed-income programs (C) | $295,129 | $303,205 | $302,214 | $334,097 | $331,321 | |||||||||||||||||||||||||||
Collective trust fund programs | 237,967 | 243,247 | 243,904 | 265,269 | 267,697 | |||||||||||||||||||||||||||
Liquidity funds | 8,435 | 8,159 | 7,954 | 7,359 | 7,334 | |||||||||||||||||||||||||||
Total assets under management | $541,531 | $554,611 | $554,072 | $606,725 | $606,352 | |||||||||||||||||||||||||||
Client assets under advisement | 9,016 | 5,987 | 5,734 | 6,296 | 6,389 | |||||||||||||||||||||||||||
Client assets under administration (D) | 1,213,745 | 1,248,721 | 1,293,924 | 1,360,712 | 1,410,594 | |||||||||||||||||||||||||||
Platform-only assets | 34,317 | 36,043 | 36,364 | 40,666 | 40,790 | |||||||||||||||||||||||||||
Stratos Wealth Holdings | — | 38,637 | 38,291 | 41,889 | 41,655 | |||||||||||||||||||||||||||
Total assets | $1,798,609 | $1,883,999 | $1,928,385 | $2,056,288 | $2,105,780 | |||||||||||||||||||||||||||
(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, 2026).
(C)Equity and fixed-income programs include $9.0 billion of assets in various asset allocation funds (as of September 30, 2026).
(D) In addition to the assets presented, SEI also administers an additional $16.1 billion in Funds of Funds assets on which SEI does not earn an administration fee (as of September 30, 2026).
(E) Prior period asset balances have been revised to conform with the current period presentation.
8
AVERAGE ASSET BALANCES
(In millions) (Unaudited)
3rd Qtr. | 4th Qtr. | 1st Qtr. | 2nd Qtr. | 3rd Qtr. | ||||||||||||||||||||||||||||
2025 | 2025 | 2026 | 2026 | 2026 | ||||||||||||||||||||||||||||
Investment Managers: | ||||||||||||||||||||||||||||||||
Collective trust fund programs (A) | $231,088 | $240,285 | $248,851 | $259,655 | $267,834 | |||||||||||||||||||||||||||
Liquidity funds | 385 | 492 | 565 | 506 | 569 | |||||||||||||||||||||||||||
Total assets under management | $231,473 | $240,777 | $249,416 | $260,161 | $268,403 | |||||||||||||||||||||||||||
Client assets under administration | 1,174,961 | 1,225,392 | 1,280,581 | 1,332,630 | 1,386,909 | |||||||||||||||||||||||||||
Total assets | $1,406,434 | $1,466,169 | $1,529,997 | $1,592,791 | $1,655,312 | |||||||||||||||||||||||||||
Private Banks: | ||||||||||||||||||||||||||||||||
Equity and fixed-income programs | $28,051 | $29,087 | $30,696 | $32,005 | $33,201 | |||||||||||||||||||||||||||
Collective trust fund programs | 3 | 3 | 3 | 4 | 4 | |||||||||||||||||||||||||||
Liquidity funds | 2,834 | 2,371 | 2,150 | 1,717 | 1,680 | |||||||||||||||||||||||||||
Total assets under management | $30,888 | $31,461 | $32,849 | $33,726 | $34,885 | |||||||||||||||||||||||||||
Client assets under administration | 8,665 | 8,977 | 9,282 | 9,455 | 9,602 | |||||||||||||||||||||||||||
Total assets | $39,553 | $40,438 | $42,131 | $43,181 | $44,487 | |||||||||||||||||||||||||||
Investment Advisors: | ||||||||||||||||||||||||||||||||
Equity and fixed-income programs | $82,735 | $85,896 | $88,403 | $92,424 | $95,439 | |||||||||||||||||||||||||||
Liquidity funds | 3,378 | 3,418 | 3,518 | 3,338 | 3,292 | |||||||||||||||||||||||||||
Total Platform assets under management | $86,113 | $89,314 | $91,921 | $95,762 | $98,731 | |||||||||||||||||||||||||||
Platform-only assets | 30,874 | 33,022 | 34,485 | 36,768 | 38,662 | |||||||||||||||||||||||||||
Platform-only assets-deposit program | 2,136 | 2,135 | 2,309 | 2,273 | 2,297 | |||||||||||||||||||||||||||
Total Platform assets | $119,123 | $124,471 | $128,715 | $134,803 | $139,690 | |||||||||||||||||||||||||||
Institutional Investors: | ||||||||||||||||||||||||||||||||
Equity and fixed-income programs | $80,802 | $83,739 | $84,393 | $85,302 | $86,212 | |||||||||||||||||||||||||||
Liquidity funds | 1,810 | 1,947 | 1,941 | 1,702 | 1,700 | |||||||||||||||||||||||||||
Total assets under management | $82,612 | $85,686 | $86,334 | $87,004 | $87,912 | |||||||||||||||||||||||||||
Client assets under advisement | 6,274 | 5,413 | 3,657 | 3,703 | 3,852 | |||||||||||||||||||||||||||
Total assets | $88,886 | $91,099 | $89,991 | $90,707 | $91,764 | |||||||||||||||||||||||||||
Investments in New Businesses: | ||||||||||||||||||||||||||||||||
Equity and fixed-income programs | $2,934 | $3,021 | $3,106 | $3,260 | $3,317 | |||||||||||||||||||||||||||
Liquidity funds | 255 | 288 | 319 | 258 | 407 | |||||||||||||||||||||||||||
Total assets under management | $3,189 | $3,309 | $3,425 | $3,518 | $3,724 | |||||||||||||||||||||||||||
Client assets under advisement | 2,428 | 2,408 | 2,335 | 2,425 | 2,632 | |||||||||||||||||||||||||||
Total assets | $5,617 | $5,717 | $5,760 | $5,943 | $6,356 | |||||||||||||||||||||||||||
LSV Asset Management: | ||||||||||||||||||||||||||||||||
Equity and fixed-income programs (B) | $92,969 | $97,304 | $104,619 | $115,862 | $118,889 | |||||||||||||||||||||||||||
Stratos Wealth Holdings (E) | $— | $38,507 | $39,317 | $40,559 | $41,902 | |||||||||||||||||||||||||||
Total: | ||||||||||||||||||||||||||||||||
Equity and fixed-income programs (C) | $287,491 | $299,047 | $311,217 | $328,853 | $337,058 | |||||||||||||||||||||||||||
Collective trust fund programs | 231,091 | 240,288 | 248,854 | 259,659 | 267,838 | |||||||||||||||||||||||||||
Liquidity funds | 8,662 | 8,516 | 8,493 | 7,521 | 7,648 | |||||||||||||||||||||||||||
Total assets under management | $527,244 | $547,851 | $568,564 | $596,033 | $612,544 | |||||||||||||||||||||||||||
Client assets under advisement | 8,702 | 7,821 | 5,992 | 6,128 | 6,484 | |||||||||||||||||||||||||||
Client assets under administration (D) | 1,183,626 | 1,234,369 | 1,289,863 | 1,342,085 | 1,396,511 | |||||||||||||||||||||||||||
Platform-only assets | 33,010 | 35,157 | 36,794 | 39,041 | 40,959 | |||||||||||||||||||||||||||
Stratos Wealth Holdings | — | 38,507 | 39,317 | 40,559 | 41,902 | |||||||||||||||||||||||||||
Total assets | $1,752,582 | $1,863,705 | $1,940,530 | $2,023,846 | $2,098,400 | |||||||||||||||||||||||||||
(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 2026 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 $8.9 billion of average assets in various asset allocation funds during third-quarter 2026.
(D) In addition to the assets presented, SEI also administers an additional $15.2 billion of average assets in Funds of Funds assets during third-quarter 2026 on which SEI does not earn an administration fee.
(E) Prior period average assets have been revised to conform with the current period presentation.
9
SALES EVENTS
(In thousands) (Unaudited)
Net Recurring Sales Events | ||||||||||||||||||||||||||||||||
3rd Qtr. | 4th Qtr. | 1st Qtr. | 2nd Qtr. | 3rd Qtr. | ||||||||||||||||||||||||||||
2025 | 2025 | 2026 | 2026 | 2026 | ||||||||||||||||||||||||||||
Investment Processing-related Businesses: | ||||||||||||||||||||||||||||||||
Investment Managers | $27,460 | $19,150 | $46,848 | $27,856 | $28,606 | |||||||||||||||||||||||||||
Private Banks | (6,713) | 5,670 | 1,571 | 4,207 | 5,598 | |||||||||||||||||||||||||||
Total Investment Processing-related Businesses | $20,747 | $24,820 | $48,419 | $32,063 | $34,204 | |||||||||||||||||||||||||||
Asset Management-related Businesses: | ||||||||||||||||||||||||||||||||
Private Banks-AMD | ($1,674) | ($1,567) | $1,983 | $2,938 | $2,462 | |||||||||||||||||||||||||||
Investment Advisors | 1,230 | (728) | 7,044 | (1,685) | 2,440 | |||||||||||||||||||||||||||
Institutional Investors | (594) | (5,025) | (2,935) | (1,102) | (2,315) | |||||||||||||||||||||||||||
Total Asset Management-related Businesses | ($1,038) | ($7,320) | $6,092 | $151 | $2,587 | |||||||||||||||||||||||||||
Newer Initiatives: | ||||||||||||||||||||||||||||||||
Investments in New Businesses | $1,208 | $1,248 | $2,631 | $361 | $1,811 | |||||||||||||||||||||||||||
Total Net Recurring Sales Events | $20,917 | $18,748 | $57,142 | $32,575 | $38,602 | |||||||||||||||||||||||||||
Professional Services Sales Events | ||||||||||||||||||||||||||||||||
3rd Qtr. | 4th Qtr. | 1st Qtr. | 2nd Qtr. | 3rd Qtr. | ||||||||||||||||||||||||||||
2025 | 2025 | 2026 | 2026 | 2026 | ||||||||||||||||||||||||||||
Investment Processing-related Businesses: | ||||||||||||||||||||||||||||||||
Investment Managers | $2,465 | $1,347 | $3,672 | $4,179 | $3,406 | |||||||||||||||||||||||||||
Private Banks | 7,087 | 23,409 | 4,950 | 5,934 | 4,514 | |||||||||||||||||||||||||||
Total Investment Processing-related Businesses | $9,552 | $24,756 | $8,622 | $10,113 | $7,920 | |||||||||||||||||||||||||||
Newer Initiatives: | ||||||||||||||||||||||||||||||||
Investments in New Businesses | $71 | $95 | $1,389 | $768 | $272 | |||||||||||||||||||||||||||
Total Professional Services Sales Events | $9,623 | $24,851 | $10,011 | $10,881 | $8,192 | |||||||||||||||||||||||||||
Total Sales Events | ||||||||||||||||||||||||||||||||
3rd Qtr. | 4th Qtr. | 1st Qtr. | 2nd Qtr. | 3rd Qtr. | ||||||||||||||||||||||||||||
2025 | 2025 | 2026 | 2026 | 2026 | ||||||||||||||||||||||||||||
Investment Processing-related Businesses: | ||||||||||||||||||||||||||||||||
Investment Managers | $29,925 | $20,497 | $50,520 | $32,035 | $32,012 | |||||||||||||||||||||||||||
Private Banks | 374 | 29,079 | 6,521 | 10,141 | 10,112 | |||||||||||||||||||||||||||
Total Investment Processing-related Businesses | $30,299 | $49,576 | $57,041 | $42,176 | $42,124 | |||||||||||||||||||||||||||
Asset Management-related Businesses: | ||||||||||||||||||||||||||||||||
Private Banks-AMD | ($1,674) | ($1,567) | $1,983 | $2,938 | $2,462 | |||||||||||||||||||||||||||
Investment Advisors | 1,230 | (728) | 7,044 | (1,685) | 2,440 | |||||||||||||||||||||||||||
Institutional Investors | (594) | (5,025) | (2,935) | (1,102) | (2,315) | |||||||||||||||||||||||||||
Total Asset Management-related Businesses | ($1,038) | ($7,320) | $6,092 | $151 | $2,587 | |||||||||||||||||||||||||||
Newer Initiatives: | ||||||||||||||||||||||||||||||||
Investments in New Businesses | $1,279 | $1,343 | $4,020 | $1,129 | $2,083 | |||||||||||||||||||||||||||
Total Sales Events | $30,540 | $43,599 | $67,153 | $43,456 | $46,794 | |||||||||||||||||||||||||||
10
Non-GAAP Information & Reconciliations
(In thousands, except per share data) (Unaudited)
We present certain non‑GAAP financial measures to supplement the consolidated financial statements prepared in accordance with GAAP. Management believes these measures provide useful information to investors by enhancing the understanding of our core operating performance and facilitating comparisons across reporting periods. These non‑GAAP measures are also used by our management to evaluate operating results, allocate resources, and assess performance against strategic objectives.
These non-GAAP financial measures should be viewed in addition to, and not as a substitute for, reported results prepared in accordance with GAAP.
The following schedules reconcile U.S. GAAP financial measures to non-GAAP financial measures for the three and nine months ended September 30, 2026 and 2025:
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||||||||||||
2026 | 2025 | 2026 | 2025 | |||||||||||||||||||||||
Net income attributable to SEI Investments Company (U.S. GAAP basis) | $168,258 | $164,204 | $538,403 | $542,804 | ||||||||||||||||||||||
Non-GAAP adjustments: | ||||||||||||||||||||||||||
Acquisition-related: | ||||||||||||||||||||||||||
Third party costs (A) | — | 3,767 | — | 4,587 | ||||||||||||||||||||||
Intangible assets amortization & impairments (B) | 7,379 | 3,168 | 21,070 | 9,774 | ||||||||||||||||||||||
Total acquisition-related | 7,379 | 6,935 | 21,070 | 14,361 | ||||||||||||||||||||||
Gain on sale of asset/business (C) | — | — | — | (94,412) | ||||||||||||||||||||||
Litigation settlements and insurance proceeds (D) | — | (4,350) | 3,808 | (8,850) | ||||||||||||||||||||||
Other individually significant items (E) | 32,500 | — | 32,500 | — | ||||||||||||||||||||||
Income tax effect (F) | (8,167) | (567) | (12,058) | 19,787 | ||||||||||||||||||||||
Adjusted net income attributable to SEI Investments Company (non-GAAP basis) | $199,970 | $166,222 | $583,723 | $473,690 | ||||||||||||||||||||||
Diluted EPS (U.S. GAAP basis) | $1.38 | $1.30 | $4.37 | $4.25 | ||||||||||||||||||||||
Adjusted diluted EPS (non-GAAP basis) | $1.64 | $1.32 | $4.73 | $3.71 | ||||||||||||||||||||||
Diluted weighted average shares outstanding | 122,012 | 126,325 | 123,280 | 127,684 | ||||||||||||||||||||||
Income from operations (U.S. GAAP Basis) | $197,999 | $159,961 | $584,501 | $465,693 | ||||||||||||||||||||||
Operating margin (U.S. GAAP Basis) | 30 | % | 28 | % | 30 | % | 28 | % | ||||||||||||||||||
Non-GAAP adjustments: | ||||||||||||||||||||||||||
Acquisition-related: | ||||||||||||||||||||||||||
Third party costs (A) | — | 3,767 | — | 4,587 | ||||||||||||||||||||||
Intangible assets amortization & impairments (B) | 10,494 | 3,168 | 29,626 | 9,774 | ||||||||||||||||||||||
Total acquisition-related | 10,494 | 6,935 | 29,626 | 14,361 | ||||||||||||||||||||||
Adjusted income from operations (non-GAAP Basis) | $208,493 | $166,896 | $614,127 | $480,054 | ||||||||||||||||||||||
Adjusted operating margin (non-GAAP basis) | 31 | % | 29 | % | 32 | % | 28 | % | ||||||||||||||||||
(A) This non-GAAP adjustment removes incremental and directly attributable costs incurred to execute acquisitions, such as third-party advisory, legal, accounting, valuation, and due diligence. For 2025, this non-GAAP adjustment consisted of the legal costs, advisory fees, and due diligence fees in relation to the Stratos acquisition. Management believes adjusting for these charges helps the reader's ability to understand our core operating results and increases comparability quarter to quarter.
(B) This non-GAAP adjustment removes the impact of amortization expense associated with acquired intangible assets (e.g., customer relationships, technology, trade names). This non-GAAP adjustment removes only amortization recorded in the current period related to acquired intangibles from prior acquisitions. The non-GAAP adjustments in 2026 include the amortization of the acquired intangibles from the Stratos acquisition, which closed in December 2025. Management included the Stratos related amortization expense net of the 42.5% NCI adjustment for the adjusted EPS calculation. However, this adjustment is not inclusive of the NCI portion for adjusted operating margin. The associated revenues are not adjusted. Management believes adjusting for these charges helps the reader's ability to understand our core operating results and increases comparability quarter to quarter.
(C) This non-GAAP adjustment removes realized gains on the sale of assets owned or entities under our control, out of the normal course of business. In 2025, the adjustment consisted of the realized gain from the sale of Family Office Services (FOS). Management believes adjusting for these gains helps the reader's ability to understand our core operating results and increases comparability quarter to quarter.
(D) This non-GAAP adjustment removes individually significant litigation settlements and insurance proceeds. In 2026, this non-GAAP adjustment was related to litigation settlements. In 2025, this non-GAAP adjustment consisted of a $4.5M settlement related to a vendor matter and a $4.4M insurance recovery. Management included both of these transactions as non-GAAP adjustments since they were both out of the normal course of business. Management believes adjusting for these items helps the reader's ability to understand our core operating results and increases comparability quarter to quarter.
11
(E) This non-GAAP adjustment removes other items that are individually significant and highly unusual. In 2026, this non-GAAP adjustment consisted of the amount recognized related to the mutually agreed Termination Agreement between the Company and Stratos with respect to the previously reported obligations to proceed with the closing of the purchase of the equity of a Mexican RIA owned by Stratos. Management believes this charge is outside the normal course of business and not indicative of ongoing operating performance. Excluding this item enhances comparability between periods and assists investors in evaluating SEI's core operating results.
(F) Income tax effects are presented as a separate reconciling item (not netted within each adjustment). For performance measures, the tax effect reflects current and deferred tax expense commensurate with the adjusted measure of profitability. The methodology used (e.g., statutory rate, effective rate, or discrete item approach) is consistently applied. All of the above items use a systematic approach.
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SEI Investments Company (NASDAQ: SEIC) Q3 2026 Earnings Presentation
This presentation contains forward-looking statements within the meaning of 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: • whether our growth will broaden across the enterprise and the degree to which multiple business units will contribute to this growth; • the trajectory of our sales and the impact of this trajectory on fourth quarter results; • our clients’ willingness to speak positively about us; • the demand for retail alternatives; • the momentum of our newly-launched retail transfer agent; • the expected revenue from our combined transfer agency and fund administration activities; • the degree to which our professional services business will resonate across our client bases; • the adoption of our ETF strategies; • our conviction in independent financial advice; • whether the investments we have made in the future of our business will become meaningful contributors to our next phase of growth; • the normalized level of contribution of our net gains on investments and variable interest entities; • the interest of advisors in succession and continuity solutions and the potential benefits of this interest; • the expansion of private markets into retail and retirement channels and the degree to which we will benefit from this expansion, if any; • the traction from newer products and initiatives in our Advisors business unit; • the net outflows at LSV; • the benefits of new leadership, clearer accountability, and a renewed commercial focus in some of our initiatives; • our ability to expand our client opportunities into larger, more strategic, enterprise-wide engagements; • our ability to win large opportunities that leverage existing capabilities, require less incremental investment and contribute more quickly to financial results; • our level of engagement with our clients, including the largest and most sophisticated firms in our target markets; • our ability to convert sales events into revenue as well as the speed of this conversion; • the benefits, if any, of our operating discipline and cost controls; • the repeatability of our sales success; • the durability of and growth in demand for alternative investments; • the success of our re-contracting activity; • our ability to consistently execute against our strategy; • strength of the sales momentum in our businesses and whether this momentum will continue; • how we will use and deploy our capital and the reasons for our capital allocation methodologies; • the level of demand for outsourcing, investment advice and the margin sensitivity of these services; • the benefits that we and our stakeholders will receive as a consequence of our partnership with Stratos Wealth Management; 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, 2025, filed with the Securities and Exchange Commission. Past performance does not guarantee future results. Safe Harbor Statement 2 SEI Earnings PresentationQ3 2026 • our strategic priorities and focus; • the level of capital deployment by existing clients; • our 2026 priorities and commitment to these priorities; • the market dynamics affecting our businesses; • our ability to improve our consolidated margins; • our ability to deliver strong financial performance and fund future growth initiatives; • the robustness of activity in our IMS business; • the revenue we derive from alternative investment mandates; • the strength of our pipelines; • the level at which we return capital to shareholders and repurchase our stock; • the demand for our products and services; and • our ability to deliver significant value for clients, employees and shareholders.
Q3 2026 vs. Q3 '25 vs. Q2 '26 Revenues 662.0 14.4% 3.2% Operating Income 198.0 23.8% 0.5% Adjusted Operating Income 208.5 24.9% 0.7% EPS $1.38 6.2% -13.2% Adjusted EPS $1.64 24.2% -1.2% Net Sales Events 46.8 53.2% 7.7% Operating Margin 29.9% 2.3% -0.8% Adjusted Operating Margin 31.5% 2.6% -0.8% Assets Under Management ($B) 606.4 12.0% -0.1% Administration, Platform & Advisement ($B) 1,457.8 16.0% 3.6% % Change Q3 2026 highlights SEI Earnings PresentationQ3 2026 Strong financial performance: Revenue increased 14%, adjusted operating profit increased 25%, and adjusted EPS increased 24%, reflecting broad-based growth and operating leverage Record sales year continues: Net sales events totaled $47M, bringing year-to-date sales events to $157M, already exceeding SEI’s prior full-year record Margins remain near record levels: Adjusted operating margin increased 260 basis points despite a higher incentive compensation accrual during the quarter Strategic execution is driving growth: Enterprise transformation, alternative investments, professional services, and broader client relationships continue to build momentum $ in millions except EPS; AUM; and Assets under administration, platform-only, and advisement; and platform-only assets. Asset values exclude impact of Stratos acquisition closed in December 2025 Operating margin % change represents improvement or decline in margin rate vs. prior period Results reflect years of enterprise transformationQ3 2026 financial snapshot 3See the appendix to this presentation for a description and reconciliation of non-GAAP measures
Earnings per share SEI Earnings PresentationQ3 2026 Core operating performance drove results: Revenue growth, margin expansion, and a lower share count contributed to 24% adjusted EPS growth from Q3 2025 GAAP EPS included $33M charge: Other expense associated with terminating the planned acquisition of NSC reduced reported third- quarter net income Adjusted EPS declined $0.02 sequentially: Driven by lower investment gains and increased incentive compensation accrual Q3 2026 earnings summary Q3 2025 Private Banks Investment Advisors Institutional Investors Investment Managers LSV Income Corporate Overhead Tax Rate & Other Share Count Q3 2026 +6% Q2 2026 Private Banks Investment Advisors Institutional Investors Investment Managers LSV Income Corporate Overhead Tax Rate & Other Share Count Q3 2026 -13% Y e a r- O v e r- Y e a r Q u a rt e r- O v e r- Q u a rt e r 4 $1.30 $0.06 $0.05 $0.00 $0.07 $0.05 $0.04 -$0.22 $0.04 $1.38 $1.59 $0.00 $0.01 $0.00 $0.00 $0.01 -$0.01 -$0.24 $0.01 $1.38
Business unit performance SEI Earnings PresentationQ3 2026 Revenue ($M) Broad-based performance: Revenue increased in three of four businesses, with strong profit growth in Private Banking and Investment Managers Private Banking operating profit increased 38%, reflecting strong operating leverage on 11% revenue growth Investment Managers revenue and operating profit increased 14% driven by prior sales success Advisors revenue increased 26%, benefiting from Stratos, higher markets, and previously won clients Institutional modest revenue decline reflects impact of prior outflows Business unit highlightsOperating profit ($M) $144 $207 $147 $72 $157 $228 $178 $70 $160 $236 $185 $71 Private Banking Investment Managers Investment Advisors Institutional Investors Q3 2025 Q2 2026 Q3 2026 $23 $81 $68 $34 $32 $92 $75 $33$32 $92 $76 $33 Private Banking Investment Managers Investment Advisors Institutional Investors Q3 2025 Q2 2026 Q3 2026 +11% +14% +26% -2% +38% +14% +11% -3% 5
Operating margins SEI Earnings PresentationQ3 2026 -6.0% -4.0% -2.0% 0.0% 2.0% 4.0% 6.0% Private Banking Investment Managers Investment Advisors Institutional Investors Quarter-Over-Quarter Year-Over-Year Business unit margin changes HighlightsConsolidated operating margin 15.0% 25.0% 35.0% Q3 2025 Q2 2026 Q3 2026 GAAP Adjusted Operating leverage remains strong: Adjusted operating margin increased 260 basis points from the prior year while SEI continued investing in talent, technology, and products Higher compensation affected sequential margins: The increased incentive compensation accrual reduced adjusted operating margin by roughly 100 basis points during the quarter Underlying margins continued to improve: Excluding the compensation adjustment, adjusted operating margin increased roughly 20 basis points from the second quarter 6 See the appendix to this presentation for a description and reconciliation of non-GAAP measures
Net sales events SEI Earnings PresentationQ3 2026 $36.8 $24.1 $20.9 $18.7 $57.1 $32.6 $38.6 $9.7 $5.0 $9.6 $24.9 $10.0 $10.9 $8.2 Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26 Q3 '26 Recurring Professional Services Total net sales events ($M) Record sales year continues: Q3 net sales events totaled $47M, bringing year-to-date sales events to $157M, already exceeding SEI’s prior full-year record IMS activity remained robust: IMS generated $32M of sales events, with contributions from new clients and expanded relationships with existing clients Alternatives continued to drive demand: Alternative asset managers accounted for nearly 90% of IMS sales events during the quarter Private Banking momentum continued: Sales events totaled $13M, reflecting enterprise transformation, professional services, Data Cloud, and broader strategic engagements Enterprise engagement continues to expand 7
Client asset summary SEI Earnings PresentationQ3 2026 AUA and assets on platform ($B)* AUM ($B) $1,257 $1,408 $1,458 Q3 2025 Q2 2026 Q3 2026 +16% +4% $542 $607 $606 Q3 2025 Q2 2026 Q3 2026 +12% -0% Highlights • Quarter-end AUM was flat with Q2, with limited impact from both market movements and net flows. Modest inflows in Advisors largely offset similar outflows in Institutional • Newer asset management initiatives continued to gain traction, including ETFs, SMAs, strategic partnerships, and increased advisor engagement • AUA increased 4% sequentially, driven by IMS expansion, the funding of recently won mandates, and continued capital deployment by existing clients • LSV assets declined 1% as strong investment performance was offset by $5B of net outflows; expected to improve going forward. LSV performance fees totaled $4.5M at SEI’s share during the third quarter *Assets under administration, advisement and platform-only 8
Capital allocation, liquidity, and capitalization SEI Earnings PresentationQ3 2026 Capital returned to shareholders ($M) Liquidity and capitalization ($M) $400 $31 $12,400 Cash Long-Term Debt Market Capitalization Ended the quarter with $400M of cash while continuing to invest in growth and return capital to shareholders Repurchased $215M of stock at an average price of $105 Current outlook supports a similar level of repurchases in Q4 Additional $800M authorization provides capacity to remain active well into 2027 Highlights 9 $215 $637 $0 $126 Q3 '26 TTM Q3 '26 Buybacks Dividends 1Excludes $85M of consolidated cash associated with LSV Variable Interest Entity 2Notes payable to Stratos advisors; already collateralized by escrow balances funded in December 2025 1 2
For institutional investor and financial advisor use only. Not for distribution to general public. Thank you 10
For institutional investor and financial advisor use only. Not for distribution to general public. Appendix 11
Non-GAAP Reconciliation SEI Earnings PresentationQ3 2026 12
Non-GAAP Reconciliation SEI Earnings PresentationQ3 2026 13