SEIC 8-K
Sei Investments Co (SEIC)
8-K
2026-01-28
For: 2026-01-28
View Original
Added on
April 04, 2026
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, January 28, 2026, SEI Investments Company (the "Company") issued a press release announcing its financial and operating results for the fourth quarter ended December 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: | January 28, 2026 | By: | /s/ Sean J. Denham | ||||||||
| Sean J. Denham Chief Financial and Chief Operating Officer | |||||||||||
Investor contact: Media contact:
Brad Burke Alicia Rudd
SEI SEI
+1 610-676-5350 +1 610-676-3887
Pages: 9
FOR IMMEDIATE RELEASE
SEI Reports Fourth-Quarter 2025 Financial Results
OAKS, Pa., Jan. 28, 2026 – SEI Investments Company (NASDAQ:SEIC) today announced financial results for the fourth quarter 2025. Relative to the fourth quarter 2024, EPS increased by 16%, and revenue and operating income grew by 9% and 11%, respectively, with operating margin increasing to 27%.
| Consolidated Overview | ||||||||||||||||||||||||||||||||||||||
| (In thousands, except earnings per share) | For the Three Months Ended December 31, | For the Twelve Months Ended December 31, | ||||||||||||||||||||||||||||||||||||
| 2025 | 2024 | % | 2025 | 2024 | % | |||||||||||||||||||||||||||||||||
| Revenues | $607,925 | $557,190 | 9% | $2,297,381 | $2,125,151 | 8% | ||||||||||||||||||||||||||||||||
| Operating income | 161,618 | 145,544 | 11% | 627,311 | 551,741 | 14% | ||||||||||||||||||||||||||||||||
| Operating margin | 27 | % | 26 | % | 4% | 27 | % | 26 | % | 4% | ||||||||||||||||||||||||||||
| Net income attributable to SEI Investments | 172,501 | 155,771 | 11% | 715,305 | 581,191 | 23% | ||||||||||||||||||||||||||||||||
| Diluted earnings per share | $1.38 | $1.19 | 16% | $5.63 | $4.41 | 28% | ||||||||||||||||||||||||||||||||
“We closed 2025 with an exceptional fourth quarter, capping one of the strongest years in SEI’s history. Q4 results reflect solid revenue growth, margin expansion, and outstanding sales activity across the organization. What’s most encouraging is that these results were not reliant on any single business or one‑time event, but rather a result of disciplined execution against our strategy and the strength of our integrated enterprise model,” said CEO Ryan Hicke.
“Our strong performance is a testament to the deliberate choices we’ve made to align our capabilities with long-term industry tailwinds. We’re benefiting from increased demand for outsourcing, the convergence of public and private markets, and the continued need for high-quality advice. With clear priorities and the right team in place, we’re entering 2026 with confidence.”
1
Summary of Fourth-Quarter Results by Business Segment
| (In thousands) | For the Three Months Ended December 31, | For the Twelve Months Ended December 31, | ||||||||||||||||||||||||||||||||||||
| 2025 | 2024 | % | 2025 | 2024 | % | |||||||||||||||||||||||||||||||||
| Investment Managers: | ||||||||||||||||||||||||||||||||||||||
| Revenues | $220,840 | $191,262 | 15% | $815,005 | $728,390 | 12% | ||||||||||||||||||||||||||||||||
| Expenses | 129,515 | 118,130 | 10% | 494,296 | 453,085 | 9% | ||||||||||||||||||||||||||||||||
| Operating Profit | 91,325 | 73,132 | 25% | 320,709 | 275,305 | 16% | ||||||||||||||||||||||||||||||||
| Operating Margin | 41 | % | 38 | % | 39 | % | 38 | % | ||||||||||||||||||||||||||||||
| Private Banks: | ||||||||||||||||||||||||||||||||||||||
| Revenues | 149,782 | 140,142 | 7% | 572,939 | 541,414 | 6% | ||||||||||||||||||||||||||||||||
| Expenses | 120,699 | 120,414 | —% | 474,935 | 460,375 | 3% | ||||||||||||||||||||||||||||||||
| Operating Profit | 29,083 | 19,728 | 47% | 98,004 | 81,039 | 21% | ||||||||||||||||||||||||||||||||
| Operating Margin | 19 | % | 14 | % | 17 | % | 15 | % | ||||||||||||||||||||||||||||||
| Investment Advisors: | ||||||||||||||||||||||||||||||||||||||
| Revenues | 156,163 | 139,267 | 12% | 577,397 | 509,408 | 13% | ||||||||||||||||||||||||||||||||
| Expenses | 84,278 | 76,839 | 10% | 311,662 | 282,902 | 10% | ||||||||||||||||||||||||||||||||
| Operating Profit | 71,885 | 62,428 | 15% | 265,735 | 226,506 | 17% | ||||||||||||||||||||||||||||||||
| Operating Margin | 46 | % | 45 | % | 46 | % | 44 | % | ||||||||||||||||||||||||||||||
| Institutional Investors: | ||||||||||||||||||||||||||||||||||||||
| Revenues | 72,823 | 70,812 | 3% | 282,498 | 285,723 | (1)% | ||||||||||||||||||||||||||||||||
| Expenses | 38,337 | 38,315 | —% | 148,132 | 154,701 | (4)% | ||||||||||||||||||||||||||||||||
| Operating Profit | 34,486 | 32,497 | 6% | 134,366 | 131,022 | 3% | ||||||||||||||||||||||||||||||||
| Operating Margin | 47 | % | 46 | % | 48 | % | 46 | % | ||||||||||||||||||||||||||||||
| Investments in New Businesses: | ||||||||||||||||||||||||||||||||||||||
| Revenues | 8,317 | 15,707 | (47)% | 49,542 | 60,216 | (18)% | ||||||||||||||||||||||||||||||||
| Expenses | 11,433 | 19,296 | (41)% | 60,222 | 74,699 | (19)% | ||||||||||||||||||||||||||||||||
| Operating Loss | (3,116) | (3,589) | (13)% | (10,680) | (14,483) | (26)% | ||||||||||||||||||||||||||||||||
| Totals: | ||||||||||||||||||||||||||||||||||||||
| Revenues | $607,925 | $557,190 | 9% | $2,297,381 | $2,125,151 | 8% | ||||||||||||||||||||||||||||||||
| Expenses | 384,262 | 372,994 | 3% | 1,489,247 | 1,425,762 | 4% | ||||||||||||||||||||||||||||||||
| Corporate Overhead Expenses | 62,100 | 38,652 | 61% | 180,878 | 147,648 | 23% | ||||||||||||||||||||||||||||||||
| Segment reclassification (A) | 55 | — | NM* | 55 | — | NM | ||||||||||||||||||||||||||||||||
| Income from Operations | $161,618 | $145,544 | 11% | $627,311 | $551,741 | 14% | ||||||||||||||||||||||||||||||||
(A) Primarily includes non-controlling interest and earnings from equity method investments.
* Variances noted "NM" indicate the percent change is not meaningful.
2
Fourth-Quarter Business Highlights:
•SEI ended the year with strong quarterly performance, achieving diluted EPS of $1.38, up 16% from the prior year. Results were broad based, driven by revenue growth and margin expansion across each of SEI's business segments. Several items affected comparability and collectively reduced diluted EPS by approximately $0.08, including:
◦$20.1 million of elevated Corporate Overhead attributable to severance expense and third party M&A fees related to Stratos.
◦A $3.0 million tax benefit from purchased energy credits.
◦A $3.3 million revenue accrual true-up benefit in our Investment Managers segment.
•Fourth quarter net sales events totaled $43.6 million, bringing full-year net sales events to a record $149.9 million.
◦Private Banks led the quarter with $27.5 million of net sales events reflecting demand across SEI's full suite of capabilities, including SWP software-as-a-service, implementation services, and ongoing enterprise-wide professional services.
◦Investment Managers generated $20.5 million of net sales events, with more than two-thirds coming from U.S.-based alternative asset managers.
◦Advisors net sales events were nearly flat for the quarter, as strong inflows into SEI-managed ETFs offset continued outflows in traditional mutual fund products.
◦Institutional Investors recorded negative $5.0 million of net sales events, driven by client losses in the United Kingdom.
•Consolidated revenues and operating income increased by 9% and 11%, respectively, from Q4 2024. SEI's consolidated operating margin of 26.6% improved over the prior year despite severance and M&A expenses. Across all business segments, both revenue and operating profit increased vs. Q4 2024 and Q3 2025.
◦Private Banking revenue increased 4% vs. Q3 2025 reflecting recent professional services wins. Operating margins expanded to 19%, up from 16% in Q3, driven by cost leverage and higher-margin professional services wins.
◦Investment Managers delivered strong revenue and operating profit growth, even excluding the $3.3 million revenue accrual true-up, supported by recent clients wins, modest market appreciation for traditional asset managers, and the timing of certain planned investments shifting into 2026.
◦Investment Advisors posted 5% operating profit growth vs. Q3 2025, with market appreciation offsetting continued mutual fund outflows. SEI's integrated cash program contributed $20.7 million, consistent with Q3 2025 and Q4 2024.
◦Institutional Investors generated modest revenue and operating profit growth as market appreciation largely offset client losses.
•Ending assets under administration increased by 3%, and ending assets under management increased by 2% from Q3 to Q4. AUA growth was driven primarily by strong client win momentum and, to a lesser extent, market appreciation. AUM growth was supported by market appreciation which offset modest outflows, primarily in Institutional.
•SEI completed the first and largest close of the Stratos acquisition for $440.8 million during the quarter, funded entirely with balance sheet cash. Acquiring Stratos advances SEI’s expansion into Advice, deepens insight into end‑client and advisor needs, broadens distribution across RIA and broker‑dealer channels, and creates new opportunities to integrate SEI’s technology and investment capabilities into a rapidly growing advisory platform.
•SEI repurchased 1.2 million shares of common stock for $101.0 million during the fourth quarter 2025 at an average price of $82.61 per share, bringing total shares repurchased to 7.5 million for the year.
3
Earnings Conference Call
A conference call and presentation to review earnings is scheduled for 5 p.m. Eastern time on Jan. 28, 2026. 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/BI84c3de188f3941efaae118a827e96664
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 Dec. 31, 2025, SEI manages, advises, or administers approximately $1.9 trillion in assets. For more information, visit seic.com.
This release contains forward-looking statements within the meaning or the rules and regulations of the Securities and Exchange Commission. In some cases you can identify forward-looking statements by terminology, such as "may," '"will," "can," "expect," "believe," "remain," and "continue" or "appear." Our forward-looking statements include our current expectations as to:
•the benefits, if any, we will receive from increased demand for outsourcing, and the convergence of public and private markets;
•the market demand for investment advice and our ability to benefit from this demand;
•our opportunities;
•the demand for our full suite of capabilities;
•the pace of outflows in our traditional mutual fund products; and
•when and if we will generate net annualized recurring revenues from sales events that occurred during the quarter, as well as the amount of any such revenue.
You should not place undue reliance on our forward-looking statements, as they are based on the current beliefs and expectations of our management and subject to significant risks and uncertainties, many of which are beyond our control or are subject to change. Although we believe the assumptions upon which we base our forward-looking statements are reasonable, they could be inaccurate. We undertake no obligation to update our forward-looking statements. Some of the risks and important factors that could cause actual results to differ from those described in our forward-looking statements can be found in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended Dec. 31, 2024, filed with the Securities and Exchange Commission.
# # #
4
SEI INVESTMENTS COMPANY
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data) (Unaudited)
| For the Three Months Ended December 31, | For the Twelve Months Ended December 31, | |||||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||||||
| Asset management, admin. and distribution fees | $485,429 | $439,520 | $1,817,079 | $1,677,143 | ||||||||||||||||||||||
| Information processing and software servicing fees | 122,496 | 117,670 | 480,302 | 448,008 | ||||||||||||||||||||||
| Total revenues | 607,925 | 557,190 | 2,297,381 | 2,125,151 | ||||||||||||||||||||||
| Subadvisory, distribution and other asset mgmt. costs | 56,905 | 50,427 | 209,218 | 191,706 | ||||||||||||||||||||||
| Software royalties and other information processing costs | 10,017 | 8,726 | 37,723 | 34,229 | ||||||||||||||||||||||
| Compensation, benefits and other personnel | 227,353 | 200,347 | 821,450 | 770,881 | ||||||||||||||||||||||
| Stock-based compensation | 11,570 | 21,402 | 53,555 | 58,626 | ||||||||||||||||||||||
| Consulting, outsourcing and professional fees | 50,978 | 52,548 | 218,322 | 211,806 | ||||||||||||||||||||||
| Data processing and computer related | 42,841 | 38,863 | 165,530 | 151,653 | ||||||||||||||||||||||
| Facilities, supplies and other costs | 25,716 | 20,487 | 87,197 | 79,282 | ||||||||||||||||||||||
| Amortization | 13,570 | 10,585 | 46,641 | 41,869 | ||||||||||||||||||||||
| Depreciation | 7,357 | 8,261 | 30,434 | 33,358 | ||||||||||||||||||||||
| Total expenses | 446,307 | 411,646 | 1,670,070 | 1,573,410 | ||||||||||||||||||||||
| Income from operations | 161,618 | 145,544 | 627,311 | 551,741 | ||||||||||||||||||||||
| Net gain (loss) from investments | 1,560 | (559) | 5,804 | 2,790 | ||||||||||||||||||||||
| Interest and dividend income | 10,210 | 12,947 | 39,921 | 48,897 | ||||||||||||||||||||||
| Interest expense | (223) | (144) | (609) | (563) | ||||||||||||||||||||||
| Gain on sale of business | — | — | 94,412 | — | ||||||||||||||||||||||
| Other income | 262 | — | 9,684 | 8,151 | ||||||||||||||||||||||
| Equity in earnings of unconsolidated affiliate | 38,395 | 33,366 | 132,685 | 135,741 | ||||||||||||||||||||||
| Net gain from consolidated variable interest entities | 5,280 | — | 7,125 | — | ||||||||||||||||||||||
| Income before income taxes | 217,102 | 191,154 | 916,333 | 746,757 | ||||||||||||||||||||||
| Income taxes | 42,738 | 35,383 | 198,783 | 165,566 | ||||||||||||||||||||||
| Net income | $174,364 | $155,771 | $717,550 | $581,191 | ||||||||||||||||||||||
| Less: Net income attributable to non-controlling interests | 1,863 | — | 2,245 | — | ||||||||||||||||||||||
| Net income attributable to SEI Investments Company | $172,501 | $155,771 | $715,305 | $581,191 | ||||||||||||||||||||||
| Basic earnings per common share | $1.41 | $1.21 | $5.76 | $4.47 | ||||||||||||||||||||||
| Shares used to calculate basic earnings per share | 122,199 | 128,642 | 124,082 | 130,073 | ||||||||||||||||||||||
| Diluted earnings per common share | $1.38 | $1.19 | $5.63 | $4.41 | ||||||||||||||||||||||
| Shares used to calculate diluted earnings per share | 125,251 | 131,421 | 127,076 | 131,727 | ||||||||||||||||||||||
| Dividends declared per common share | $0.52 | $0.49 | $1.01 | $0.95 | ||||||||||||||||||||||
5
SEI INVESTMENTS COMPANY
CONSOLIDATED CONDENSED BALANCE SHEETS
(In thousands) (Unaudited)
| December 31, | December 31, | |||||||||||||
| 2025 | 2024 | |||||||||||||
| Assets | ||||||||||||||
| Current Assets: | ||||||||||||||
| Cash, cash equivalents and restricted cash | $399,804 | $840,193 | ||||||||||||
| Receivables from investment products | 63,317 | 54,118 | ||||||||||||
| Receivables, net | 709,748 | 567,634 | ||||||||||||
| Securities owned | 33,777 | 29,583 | ||||||||||||
| Other current assets | 66,691 | 60,282 | ||||||||||||
| Total Current Assets | 1,273,337 | 1,551,810 | ||||||||||||
| Property and Equipment, net | 384,706 | 395,666 | ||||||||||||
| Operating Lease Right-of-Use Assets | 26,447 | 28,905 | ||||||||||||
| Investments | 428,004 | 315,567 | ||||||||||||
| Assets of Consolidated Variable Interest Entities | 183,994 | — | ||||||||||||
| Goodwill and intangible assets, net | 723,261 | 247,657 | ||||||||||||
| Other Assets, net | 240,095 | 145,001 | ||||||||||||
| Total Assets | $3,259,844 | $2,684,606 | ||||||||||||
| Liabilities, Redeemable Non-controlling Interests and Shareholders' Equity | ||||||||||||||
| Current Liabilities: | ||||||||||||||
| Accounts payable | $5,404 | $13,081 | ||||||||||||
| Accrued liabilities | 359,823 | 347,513 | ||||||||||||
| Current portion of long-term operating lease liabilities | 8,677 | 7,900 | ||||||||||||
| Deferred revenue | 13,307 | 12,019 | ||||||||||||
| Total Current Liabilities | 387,211 | 380,513 | ||||||||||||
| Liabilities of Consolidated Variable Interest Entities | 108,504 | — | ||||||||||||
| Other Long-term Liabilities | 60,353 | 51,981 | ||||||||||||
| Total Liabilities | 556,068 | 432,494 | ||||||||||||
| Redeemable Non-controlling Interests | 243,959 | — | ||||||||||||
| Shareholders' Equity: | ||||||||||||||
Common stock, $0.01 par value, 750,000 shares authorized; 122,232 and 126,840 shares issued and outstanding | 1,222 | 1,268 | ||||||||||||
| Capital in excess of par value | 1,678,787 | 1,539,816 | ||||||||||||
| Retained earnings | 792,280 | 758,003 | ||||||||||||
| Accumulated other comprehensive loss, net | (24,505) | (46,975) | ||||||||||||
| Total SEI Shareholders' Equity | 2,447,784 | 2,252,112 | ||||||||||||
| Non-controlling interests | 12,033 | — | ||||||||||||
| Total Shareholders' Equity | $2,459,817 | $2,252,112 | ||||||||||||
| Total Liabilities, Redeemable Non-controlling Interests and Shareholders' Equity | $3,259,844 | $2,684,606 | ||||||||||||
6
ENDING ASSET BALANCES
(In millions) (Unaudited)
| Dec. 31 | Mar. 31 | Jun. 30 | Sep. 30 | Dec. 31 | ||||||||||||||||||||||||||||
| 2024 | 2025 | 2025 | 2025 | 2025 | ||||||||||||||||||||||||||||
| Investment Managers: | ||||||||||||||||||||||||||||||||
| Collective trust fund programs (A) | $202,384 | $209,491 | $225,690 | $237,964 | $243,244 | |||||||||||||||||||||||||||
| Liquidity funds | 188 | 244 | 307 | 418 | 579 | |||||||||||||||||||||||||||
| Total assets under management | $202,572 | $209,735 | $225,997 | $238,382 | $243,823 | |||||||||||||||||||||||||||
| Client assets under administration | 1,032,812 | 1,061,067 | 1,128,325 | 1,204,843 | 1,239,606 | |||||||||||||||||||||||||||
| Total assets | $1,235,384 | $1,270,802 | $1,354,322 | $1,443,225 | $1,483,429 | |||||||||||||||||||||||||||
| Private Banks: | ||||||||||||||||||||||||||||||||
| Equity and fixed-income programs | $25,523 | $25,590 | $27,839 | $28,408 | $29,832 | |||||||||||||||||||||||||||
| Collective trust fund programs | 4 | 4 | 3 | 3 | 3 | |||||||||||||||||||||||||||
| Liquidity funds | 2,688 | 3,670 | 2,796 | 2,802 | 2,099 | |||||||||||||||||||||||||||
| Total assets under management | $28,215 | $29,264 | $30,638 | $31,213 | $31,934 | |||||||||||||||||||||||||||
| Client assets under administration | 8,340 | 8,365 | 8,431 | 8,902 | 9,115 | |||||||||||||||||||||||||||
| Total assets | $36,555 | $37,629 | $39,069 | $40,115 | $41,049 | |||||||||||||||||||||||||||
| Investment Advisors: | ||||||||||||||||||||||||||||||||
| Equity and fixed-income programs | $76,283 | $75,689 | $80,618 | $85,245 | $86,879 | |||||||||||||||||||||||||||
| Liquidity funds | 3,105 | 3,153 | 3,457 | 3,391 | 3,561 | |||||||||||||||||||||||||||
| Total Platform assets under management | $79,388 | $78,842 | $84,075 | $88,636 | $90,440 | |||||||||||||||||||||||||||
| Platform-only assets | 25,244 | 25,591 | 29,848 | 32,152 | 33,582 | |||||||||||||||||||||||||||
| Platform-only assets-deposit program | 2,398 | 2,216 | 2,155 | 2,165 | 2,461 | |||||||||||||||||||||||||||
| Total Platform assets | $107,030 | $106,649 | $116,078 | $122,953 | $126,483 | |||||||||||||||||||||||||||
| Institutional Investors: | ||||||||||||||||||||||||||||||||
| Equity and fixed-income programs | $75,482 | $76,492 | $80,112 | $82,676 | $84,254 | |||||||||||||||||||||||||||
| Liquidity funds | 1,511 | 1,580 | 1,768 | 1,580 | 1,604 | |||||||||||||||||||||||||||
| Total assets under management | $76,993 | $78,072 | $81,880 | $84,256 | $85,858 | |||||||||||||||||||||||||||
| Client assets under advisement | 5,955 | 5,573 | 6,090 | 6,564 | 3,598 | |||||||||||||||||||||||||||
| Total assets | $82,948 | $83,645 | $87,970 | $90,820 | $89,456 | |||||||||||||||||||||||||||
| Investments in New Businesses: | ||||||||||||||||||||||||||||||||
| Equity and fixed-income programs | $2,747 | $2,661 | $2,867 | $2,999 | $3,044 | |||||||||||||||||||||||||||
| Liquidity funds | 297 | 288 | 244 | 244 | 316 | |||||||||||||||||||||||||||
| Total assets under management | $3,044 | $2,949 | $3,111 | $3,243 | $3,360 | |||||||||||||||||||||||||||
| Client assets under administration (E) | 14,791 | 14,846 | — | — | — | |||||||||||||||||||||||||||
| Client assets under advisement | 2,185 | 2,219 | 2,593 | 2,452 | 2,389 | |||||||||||||||||||||||||||
| Total assets | $20,020 | $20,014 | $5,704 | $5,695 | $5,749 | |||||||||||||||||||||||||||
| LSV Asset Management: | ||||||||||||||||||||||||||||||||
| Equity and fixed-income programs (B) | $86,501 | $87,114 | $91,795 | $95,801 | $99,196 | |||||||||||||||||||||||||||
| Stratos Wealth Holdings (F) | $— | $— | $— | $— | $38,377 | |||||||||||||||||||||||||||
| Total: | ||||||||||||||||||||||||||||||||
| Equity and fixed-income programs (C) | $266,536 | $267,546 | $283,231 | $295,129 | $303,205 | |||||||||||||||||||||||||||
| Collective trust fund programs | 202,388 | 209,495 | 225,693 | 237,967 | 243,247 | |||||||||||||||||||||||||||
| Liquidity funds | 7,789 | 8,935 | 8,572 | 8,435 | 8,159 | |||||||||||||||||||||||||||
| Total assets under management | $476,713 | $485,976 | $517,496 | $541,531 | $554,611 | |||||||||||||||||||||||||||
| Client assets under advisement | 8,140 | 7,792 | 8,683 | 9,016 | 5,987 | |||||||||||||||||||||||||||
| Client assets under administration (D) | 1,055,943 | 1,084,278 | 1,136,756 | 1,213,745 | 1,248,721 | |||||||||||||||||||||||||||
| Platform-only assets | 27,642 | 27,807 | 32,003 | 34,317 | 36,043 | |||||||||||||||||||||||||||
| Stratos Wealth Holdings | — | — | — | — | 38,377 | |||||||||||||||||||||||||||
| Total assets | $1,568,438 | $1,605,853 | $1,694,938 | $1,798,609 | $1,883,739 | |||||||||||||||||||||||||||
(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 $1.5 billion of assets managed by LSV in which fees are based solely on performance and are not calculated as an asset-based fee (as of December 31, 2025).
(C)Equity and fixed-income programs include $8.1 billion of assets in various asset allocation funds (as of December 31, 2025).
(D) In addition to the assets presented, SEI also administers an additional $13.0 billion in Funds of Funds assets on which SEI does not earn an administration fee (as of December 31, 2025).
(E) Client assets under administration related to the Family Office Services business divested on June 30, 2025.
(F) Stratos Wealth Holdings is a family of companies that provide financial services to $38.4 billion in client assets across business models and affiliation structures (as of November 30, 2025).
7
AVERAGE ASSET BALANCES
(In millions) (Unaudited)
| 4th Qtr. | 1st Qtr. | 2nd Qtr. | 3rd Qtr. | 4th Qtr. | ||||||||||||||||||||||||||||
| 2024 | 2025 | 2025 | 2025 | 2025 | ||||||||||||||||||||||||||||
| Investment Managers: | ||||||||||||||||||||||||||||||||
| Collective trust fund programs (A) | $204,954 | $208,720 | $215,085 | $231,088 | $240,285 | |||||||||||||||||||||||||||
| Liquidity funds | 223 | 256 | 288 | 385 | 492 | |||||||||||||||||||||||||||
| Total assets under management | $205,177 | $208,976 | $215,373 | $231,473 | $240,777 | |||||||||||||||||||||||||||
| Client assets under administration | 1,034,500 | 1,061,282 | 1,098,925 | 1,174,961 | 1,225,392 | |||||||||||||||||||||||||||
| Total assets | $1,239,677 | $1,270,258 | $1,314,298 | $1,406,434 | $1,466,169 | |||||||||||||||||||||||||||
| Private Banks: | ||||||||||||||||||||||||||||||||
| Equity and fixed-income programs | $26,067 | $25,894 | $26,533 | $28,051 | $29,087 | |||||||||||||||||||||||||||
| Collective trust fund programs | 4 | 4 | 3 | 3 | 3 | |||||||||||||||||||||||||||
| Liquidity funds | 2,814 | 2,961 | 2,771 | 2,834 | 2,371 | |||||||||||||||||||||||||||
| Total assets under management | $28,885 | $28,859 | $29,307 | $30,888 | $31,461 | |||||||||||||||||||||||||||
| Client assets under administration | 8,395 | 8,488 | 8,266 | 8,665 | 8,977 | |||||||||||||||||||||||||||
| Total assets | $37,280 | $37,347 | $37,573 | $39,553 | $40,438 | |||||||||||||||||||||||||||
| Investment Advisors: | ||||||||||||||||||||||||||||||||
| Equity and fixed-income programs | $77,866 | $77,287 | $76,629 | $82,735 | $85,896 | |||||||||||||||||||||||||||
| Liquidity funds | 3,031 | 3,119 | 3,464 | 3,378 | 3,418 | |||||||||||||||||||||||||||
| Total Platform assets under management | $80,897 | $80,406 | $80,093 | $86,113 | $89,314 | |||||||||||||||||||||||||||
| Platform-only assets | 25,109 | 25,939 | 27,288 | 30,874 | 33,022 | |||||||||||||||||||||||||||
| Platform-only assets-deposit program | 2,186 | 2,187 | 2,152 | 2,136 | 2,135 | |||||||||||||||||||||||||||
| Total Platform assets | $108,192 | $108,532 | $109,533 | $119,123 | $124,471 | |||||||||||||||||||||||||||
| Institutional Investors: | ||||||||||||||||||||||||||||||||
| Equity and fixed-income programs | $77,400 | $76,493 | $77,843 | $80,802 | $83,739 | |||||||||||||||||||||||||||
| Liquidity funds | 2,154 | 1,655 | 1,853 | 1,810 | 1,947 | |||||||||||||||||||||||||||
| Total assets under management | $79,554 | $78,148 | $79,696 | $82,612 | $85,686 | |||||||||||||||||||||||||||
| Client assets under advisement | 6,991 | 5,741 | 5,841 | 6,274 | 5,413 | |||||||||||||||||||||||||||
| Total assets | $86,545 | $83,889 | $85,537 | $88,886 | $91,099 | |||||||||||||||||||||||||||
| Investments in New Businesses: | ||||||||||||||||||||||||||||||||
| Equity and fixed-income programs | $2,819 | $2,801 | $2,732 | $2,934 | $3,021 | |||||||||||||||||||||||||||
| Liquidity funds | 269 | 274 | 244 | 255 | 288 | |||||||||||||||||||||||||||
| Total assets under management | $3,088 | $3,075 | $2,976 | $3,189 | $3,309 | |||||||||||||||||||||||||||
| Client assets under administration (E) | 14,961 | 14,630 | 14,917 | — | — | |||||||||||||||||||||||||||
| Client assets under advisement | 2,110 | 2,205 | 2,329 | 2,428 | 2,408 | |||||||||||||||||||||||||||
| Total assets | $20,159 | $19,910 | $20,222 | $5,617 | $5,717 | |||||||||||||||||||||||||||
| LSV Asset Management: | ||||||||||||||||||||||||||||||||
| Equity and fixed-income programs (B) | $88,880 | $87,790 | $89,422 | $92,969 | $97,304 | |||||||||||||||||||||||||||
| Stratos Wealth Holdings (F) | $— | $— | $— | $— | $38,085 | |||||||||||||||||||||||||||
| Total: | ||||||||||||||||||||||||||||||||
| Equity and fixed-income programs (C) | $273,032 | $270,265 | $273,159 | $287,491 | $299,047 | |||||||||||||||||||||||||||
| Collective trust fund programs | 204,958 | 208,724 | 215,088 | 231,091 | 240,288 | |||||||||||||||||||||||||||
| Liquidity funds | 8,491 | 8,265 | 8,620 | 8,662 | 8,516 | |||||||||||||||||||||||||||
| Total assets under management | $486,481 | $487,254 | $496,867 | $527,244 | $547,851 | |||||||||||||||||||||||||||
| Client assets under advisement | 9,101 | 7,946 | 8,170 | 8,702 | 7,821 | |||||||||||||||||||||||||||
| Client assets under administration (D) | 1,057,856 | 1,084,400 | 1,122,108 | 1,183,626 | 1,234,369 | |||||||||||||||||||||||||||
| Platform-only assets | 27,295 | 28,126 | 29,440 | 33,010 | 35,157 | |||||||||||||||||||||||||||
| Stratos Wealth Holdings | — | — | — | — | 38,085 | |||||||||||||||||||||||||||
| Total assets | $1,580,733 | $1,607,726 | $1,656,585 | $1,752,582 | $1,863,283 | |||||||||||||||||||||||||||
(A) Collective trust fund program average assets in the Investment Managers segment are included in assets under management since SEI is the trustee. Fees earned on this product are less than fees earned on customized asset management programs.
(B) Equity and fixed-income programs during fourth-quarter 2025 include $1.5 billion of average assets managed by LSV in which fees are based solely on performance and are not calculated as an asset-based fee.
(C) Equity and fixed-income programs include $7.5 billion of average assets in various asset allocation funds during fourth-quarter 2025.
(D) In addition to the assets presented, SEI also administers an additional $12.3 billion of average assets in Funds of Funds assets during fourth-quarter 2025 on which SEI does not earn an administration fee.
(E) Client assets under administration related to the Family Office Services business divested on June 30, 2025.
(F) Stratos Wealth Holdings is a family of companies that provide financial services to $38.1 billion in client assets across business models and affiliation structures during fourth-quarter 2025 through November 30, 2025.
8
SALES EVENTS
(In thousands) (Unaudited)
| Net Recurring Sales Events | ||||||||||||||||||||||||||||||||
| 4th Qtr. | 1st Qtr. | 2nd Qtr. | 3rd Qtr. | 4th Qtr. | ||||||||||||||||||||||||||||
| 2024 | 2025 | 2025 | 2025 | 2025 | ||||||||||||||||||||||||||||
| Investment Processing-related Businesses: | ||||||||||||||||||||||||||||||||
| Investment Managers | $18,027 | $25,296 | $21,928 | $27,460 | $19,150 | |||||||||||||||||||||||||||
| Private Banks | 9,245 | 7,059 | 254 | (6,713) | 5,670 | |||||||||||||||||||||||||||
| Total Investment Processing-related Businesses | $27,272 | $32,355 | $22,182 | $20,747 | $24,820 | |||||||||||||||||||||||||||
| Asset Management-related Businesses: | ||||||||||||||||||||||||||||||||
| Private Banks-AMD | $495 | ($58) | ($174) | ($1,674) | ($1,567) | |||||||||||||||||||||||||||
| Investment Advisors | 1,339 | 888 | (1,654) | 1,230 | (728) | |||||||||||||||||||||||||||
| Institutional Investors | (2,673) | 41 | 2,544 | (594) | (5,025) | |||||||||||||||||||||||||||
| Total Asset Management-related Businesses | ($839) | $871 | $716 | ($1,038) | ($7,320) | |||||||||||||||||||||||||||
| Newer Initiatives: | ||||||||||||||||||||||||||||||||
| Investments in New Businesses | $1,778 | $3,614 | $1,245 | $1,208 | $1,248 | |||||||||||||||||||||||||||
| Total Net Recurring Sales Events | $28,211 | $36,840 | $24,143 | $20,917 | $18,748 | |||||||||||||||||||||||||||
| Non-Recurring Sales Events | ||||||||||||||||||||||||||||||||
| 4th Qtr. | 1st Qtr. | 2nd Qtr. | 3rd Qtr. | 4th Qtr. | ||||||||||||||||||||||||||||
| 2024 | 2025 | 2025 | 2025 | 2025 | ||||||||||||||||||||||||||||
| Investment Processing-related Businesses: | ||||||||||||||||||||||||||||||||
| Investment Managers | $2,465 | $835 | $1,102 | $2,465 | $1,347 | |||||||||||||||||||||||||||
| Private Banks | 6,622 | 7,060 | 2,373 | 7,087 | 23,409 | |||||||||||||||||||||||||||
| Total Investment Processing-related Businesses | $9,087 | $7,895 | $3,475 | $9,552 | $24,756 | |||||||||||||||||||||||||||
| Newer Initiatives: | ||||||||||||||||||||||||||||||||
| Investments in New Businesses | $921 | $1,834 | $1,552 | $71 | $95 | |||||||||||||||||||||||||||
| Total Non-Recurring Sales Events | $10,008 | $9,729 | $5,027 | $9,623 | $24,851 | |||||||||||||||||||||||||||
| Total Sales Events | ||||||||||||||||||||||||||||||||
| 4th Qtr. | 1st Qtr. | 2nd Qtr. | 3rd Qtr. | 4th Qtr. | ||||||||||||||||||||||||||||
| 2024 | 2025 | 2025 | 2025 | 2025 | ||||||||||||||||||||||||||||
| Investment Processing-related Businesses: | ||||||||||||||||||||||||||||||||
| Investment Managers | $20,492 | $26,131 | $23,030 | $29,925 | $20,497 | |||||||||||||||||||||||||||
| Private Banks | 15,867 | 14,119 | 2,627 | 374 | 29,079 | |||||||||||||||||||||||||||
| Total Investment Processing-related Businesses | $36,359 | $40,250 | $25,657 | $30,299 | $49,576 | |||||||||||||||||||||||||||
| Asset Management-related Businesses: | ||||||||||||||||||||||||||||||||
| Private Banks-AMD | $495 | ($58) | ($174) | ($1,674) | ($1,567) | |||||||||||||||||||||||||||
| Investment Advisors | 1,339 | 888 | (1,654) | 1,230 | (728) | |||||||||||||||||||||||||||
| Institutional Investors | (2,673) | 41 | 2,544 | (594) | (5,025) | |||||||||||||||||||||||||||
| Total Asset Management-related Businesses | ($839) | $871 | $716 | ($1,038) | ($7,320) | |||||||||||||||||||||||||||
| Newer Initiatives: | ||||||||||||||||||||||||||||||||
| Investments in New Businesses | $2,699 | $5,448 | $2,797 | $1,279 | $1,343 | |||||||||||||||||||||||||||
| Total Sales Events | $38,219 | $46,569 | $29,170 | $30,540 | $43,599 | |||||||||||||||||||||||||||
9
SEI Investments Company (NASDAQ: SEIC) Q4 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 opportunities; • the strength of our pipelines; • our momentum and the benefits of this momentum; • our commitment to disciplined execution, transparent communication, and creating long-term value for our clients and shareholders; • the level of demand for outsourcing and client expansions; • our investment priorities; • the durability of our growth strategy; • the work that new clients will generate to retire legacy systems, execute complex data conversions, and integrate new platforms; • the incremental opportunities for our professional services offerings; • the financial impact of the loss of a previously disclosed at risk client in our Private Banking business and the duration of related deconversions; • the benefits that we and our stakeholders will receive as a consequence of our partnership with Stratos Wealth Management; • the degree to which our AI and tokenization efforts will support efficiency and scalability; • the ability of our integrated approach to break down silos and enable us to scale across segments, capture wallet share, and deliver consistent, repeatable growth; • our commitment to long-term growth, innovation and accountability; • our focus on execution and the benefits of this focus: • when we will receive the benefits, if at all, of the investments we make; • our potential, both short and long-term; • the pace of our sales events in the second half of 2025; • the timing of the closing of our partnership with Stratos Wealth Management and the source of funds for this closing; • our strategic priorities and our ability to execute against these priorities; • the demand for our products and services; • the headwinds that may affect our businesses; • 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 drivers of future revenue, margin and earnings growth; • the benefits, if any, that we or our clients may derive from acquired assets; • our run rate and the stability of the elements of that run rate; • 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 PresentationQ4 2025
Q4 2025 vs. Q4 '24 vs. Q3 '25 Revenues 607.9 9.1% 5.1% Operating Income 161.6 11.0% 1.0% Net Income Attributable to SEI 172.5 10.7% 5.1% EPS $1.38 16.0% 6.2% Net Sales Events 43.6 14.1% 42.8% Operating Margin 26.6% 0.5% -1.1% Assets Under Management ($B) 554.6 16.3% 2.4% Administration, Platform & Advisement ($B) 1,290.8 18.2% 2.7% % Change Q4 2025 highlights SEI Earnings PresentationQ4 2025 SEI delivered a record quarter and year, with broad- based revenue growth and margin expansion across nearly all business units. Sales events reached $44M, one of the highest quarters in SEI history, driven by outsized Private Banking wins and strong IMS demand. Results reflect intentional alignment with long-term industry tailwinds, including outsourcing demand, public/private market convergence, and the rising need for advice; areas where SEI has concentrated investment over several years. $ 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 Operating margin % change represents improvement or decline in margin rate vs. prior period A standout quarter to close a record 2025Q4 2025 financial snapshot 3
Earnings per share SEI Earnings PresentationQ4 2025 Reported Q4 EPS of $1.38, including $0.08 of unusual items: • $20M of Corporate Overhead expense related to severance and M&A fees • $3M tax benefit from energy credits and $3M revenue accrual true-up benefit within IMS EPS growth driven by core business performance, with nearly every segment contributing year-over- year, in addition to substantial investments in share repurchases • Record EPS excluding unusual items in current and prior quarters, exceeding prior record achieved in Q4 2024 Record EPS, ex-unusual items Q4 2024 Private Banks Investment Advisors Institutional Investors Investment Managers LSV Income Corporate Overhead Tax Rate & Other Share Count Q4 2025 +16% Q3 2025 Private Banks Investment Advisors Institutional Investors Investment Managers LSV Income Corporate Overhead Tax Rate & Other Share Count Q4 2025 +6% 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 $1.19 $0.05 $0.05 $0.01 $0.10 $0.03 -$0.13 $0.00 $0.08 $1.38 $1.30 $0.03 $0.02 $0.00 $0.04 $0.03 -$0.08 $0.03 $0.02 $1.38
Business unit performance SEI Earnings PresentationQ4 2025 Revenue ($M) Broad-based strength across all segments Private Banking professional services momentum accelerated revenue and expanded margins Investment Managers underlying growth remained strong driven by broad-based demand for outsourcing Advisors benefited from strong flows and cross-platform engagement despite mutual fund headwinds Institutional market tailwinds balanced the impact of Q4 client departures Business unit highlightsOperating profit ($M) $140 $191 $139 $71 $144 $207 $147 $72 $150 $221 $156 $73 Private Banking Investment Managers Investment Advisors Institutional Investors Q4 2024 Q3 2025 Q4 2025 $20 $73 $62 $32 $23 $81 $68 $34 $29 $91 $72 $34 Private Banking Investment Managers Investment Advisors Institutional Investors Q4 2024 Q3 2025 Q4 2025 +7% +15% +12% +3% +47% +25% +15% +6% 5
Operating margins SEI Earnings PresentationQ4 2025 -1.0% 1.0% 3.0% 5.0% 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% Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Consolidated operating margins expanded meaningful year-over-year and sequentially excluding $21M of severance and M&A costs Private Banking margin improvement driven by higher margin professional services and cost leverage Investment Managers margin growth driven by client momentum and timing of initiatives shifting from Q4 into 2026 Advisors margins supported by flows into new products and market appreciation; Benefit from integrated program is consistent with prior periods Institutional margins stable as market appreciation offsets client losses 6
Net sales events SEI Earnings PresentationQ4 2025 $15.9 $34.9 $28.2 $36.8 $24.1 $20.9 $18.7 $6.1 $11.5 $10.0 $9.7 $5.0 $9.6 $24.9 Q2 '24 Q3 '24 Q4 '24 Q1 '25 Q2 '25 Q3 '25 Q4 '25 Recurring Non-Recurring Total net sales events ($M) Net sales events of $44M in Q4 bringing full-year net sales events to a record $150M, up 17% vs. 2024 Private Banking led Q4 with $28M in net sales events, driven by two major new mandates Investment Managers delivered $20M in sales events; broad- based contributions from U.S. alternative asset managers Advisors sales were flattish, with positive off-platform ETF flows offsetting mutual fund outflows Negative Institutional sales driven by client losses in the UK Q4 sales strength caps a record $150M year 7
Client asset summary SEI Earnings PresentationQ4 2025 AUA and assets on platform ($B)* AUM ($B) $1,092 $1,257 $1,291 Q4 2024 Q3 2025 Q4 2025 +18% +3% $477 $542 $555 Q4 2024 Q3 2025 Q4 2025 +16% +2% Highlights • Both AUM and AUA increased on a sequential and year-over-year basis • AUA growth supported by strong client win momentum and modest market appreciation benefit • AUM increased 2%, as market appreciation offset modest Institutional outflows • LSV AUM increased 3.5%, driven by market appreciation and strong fund performance, evidenced by $22M of performance fees, or $8M at SEI’s share. Market and fund performance offset approximately $3B of net outflows *Assets under administration, advisement and platform-only 8
Capital allocation, liquidity, and capitalization SEI Earnings PresentationQ4 2025 Capital returned to shareholders ($M) Liquidity and capitalization ($M) $400 $0 $10,500 Cash Long-Term Debt Market Capitalization Ended Q4 with $400M cash*, no long-term debt Share repurchases totaled $101M in Q4; $616M for the full year; representing 6% of total shares outstanding from the end of 2024. Completed largest portion of Stratos acquisition, funded entirely with cash Remain committed to returning 90% to 100% of free cash flow through dividends and buybacks Highlights 9 $101 $616 $124 Q4 '25 TTM Q4 '25 Buybacks Dividends *Excludes $71M of consolidated cash associated with LSV Variable Interest Entity
For institutional investor and financial advisor use only. Not for distribution to general public. Thank you. 10