0000350894FALSE00003508942025-01-292025-01-29

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
January 29, 2025
Date of report (Date of earliest event reported)
________________________________________
GIF_sei_logo_final_black.gif
________________________________________
SEI INVESTMENTS COMPANY
(Exact name of registrant as specified in charter)
________________________________________
Pennsylvania 0-10200 23-1707341
(State or Other Jurisdiction
of Incorporation)
 (Commission
File Number)		 (I.R.S. Employer
Identification No.)
1 Freedom Valley Drive
Oaks, Pennsylvania 19456
(Address of Principal Executive Offices and Zip Code)
(610) 676-1000
(Registrants’ Telephone Number, Including Area Code)
________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Common Stock, par value $0.01 per shareSEICThe NASDAQ Stock Market LLC



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


Item 2.02.    Results of Operations and Financial Condition.
On Wednesday, January 29, 2025, SEI Investments Company (the "Company") issued a press release announcing its financial and operating results for the fourth quarter ended December 31, 2024. 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 seic.com/investor-relations.
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.



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 29, 2025By:/s/ Sean J. Denham
Sean J. Denham
Chief Financial Officer






headerimage_v1-01.jpg
Investor contact:                        Media contact:                        
Brad Burke                            Leslie Wojcik
SEI                                SEI                                
+1 610-676-5350                        +1 610-676-4191
bburke2@seic.com                        lwojcik@seic.com
Pages:        10

FOR IMMEDIATE RELEASE

SEI Reports Fourth-Quarter 2024 Financial Results

OAKS, Pa., Jan. 29, 2025 – SEI Investments Company (NASDAQ:SEIC) today announced financial results for the fourth quarter 2024. Relative to the fourth quarter 2023, EPS increased by 31%, and revenue and operating income grew by 15% and 43%, respectively, with operating margins increasing to 26%.

Consolidated Overview
(In thousands, except earnings per share)For the Three Months Ended December 31,For the Twelve Months Ended December 31,
20242023%20242023%
Revenues$557,190 $484,858 15%$2,125,151 $1,919,793 11%
Operating income145,544 101,684 43%551,741 424,524 30%
Operating margin26 %21 %25%26 %22 %17%
Net income 155,771 120,731 29%581,191 462,258 26%
Diluted earnings per share$1.19 $0.91 31%$4.41 $3.46 27%

“Our record 2024 results reflect consistent execution against our growth strategy, particularly the progress we have driven in the last 18 months. Our net sales events in 2024 increased 58% from 2023—representing a mix across our entire organization and reinforcing the high level of market engagement for our enterprise capabilities,” said CEO Ryan Hicke.
“We are focused on maximizing our return on invested capital across our segments and solutions globally. SEI has real momentum, and our employees’ commitment to delivering for our clients and embracing an enterprise-first mindset has been core to igniting that momentum. We’re excited for what’s ahead in 2025 and to continue delivering long-term value for our stakeholders.”
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,
20242023%20242023%
Private Banks:
Revenues$140,142 $123,337 14%$541,414 $496,317 9%
Expenses120,414 110,656 9%460,375 448,490 3%
Operating Profit19,728 12,681 56%81,039 47,827 69%
Operating Margin14 %10 %15 %10 %
Investment Advisors:
Revenues139,267 109,719 27%509,408 436,298 17%
Expenses76,839 67,138 14%282,902 259,142 9%
Operating Profit62,428 42,581 47%226,506 177,156 28%
Operating Margin45 %39 %44 %41 %
Institutional Investors:
Revenues70,812 69,794 1%285,723 289,708 (1)%
Expenses38,315 39,118 (2)%154,701 165,455 (6)%
Operating Profit32,497 30,676 6%131,022 124,253 5%
Operating Margin46 %44 %46 %43 %
Investment Managers:
Revenues191,262 168,571 13%728,390 645,254 13%
Expenses118,130 110,713 7%453,085 419,196 8%
Operating Profit73,132 57,858 26%275,305 226,058 22%
Operating Margin38 %34 %38 %35 %
Investments in New Businesses:
Revenues15,707 13,437 17%60,216 52,216 15%
Expenses19,296 17,826 8%74,699 70,745 6%
Operating Loss(3,589)(4,389)(18)%(14,483)(18,529)(22)%
Totals:
Revenues$557,190 $484,858 15%$2,125,151 $1,919,793 11%
Expenses372,994 345,451 8%1,425,762 1,363,028 5%
Corporate Overhead Expenses38,652 37,723 2%147,648 132,241 12%
Income from Operations$145,544 $101,684 43%$551,741 $424,524 30%
2


Fourth-Quarter Business Highlights:
•SEI achieved diluted EPS of $1.19, up 31% from the prior year, representing the second consecutive quarter where SEI has realized significant growth in net sales, revenue and earnings from the prior year.
◦Q4 2024 diluted EPS matched Q3's near-record level despite the $0.02 impact of several items affecting comparability in the quarter, specifically:
▪A $0.04 negative impact from higher incentive compensation accrued in Q4, in recognition of our employees' reigniting SEI's momentum and our strong financial performance in 2024.
▪A $0.05 negative impact from the timing of stock-based compensation. Accelerating EPS growth caused an increasing number of equity awards to vest in Q4, driving the higher than normal non-cash expenditure.
▪A $0.02 positive impact from FX transaction gains.
▪A $0.05 positive tax impact from options exercised during the quarter as well as our year-end provision estimate.
•Net sales events during the fourth quarter 2024 were $38.2 million, bringing full-year 2024 net sales events to $127.9 million, a 58% increase vs. full-year 2023. Similar to last quarter, the drivers of net sales activity were broad-based, coming from multiple existing and new clients, both in the US and globally.
•Consolidated revenues and operating income increased by 15% and 43%, respectively, from Q4 2023, with revenue, operating profit and margins increasing for each business segment.
◦Private Banks revenue growth of 14% was supported by recent sales events, increased client retention and the conversion of the existing client backlog into revenue, with operating profit growing 56% due to continued cost discipline.
◦Investment Managers operating profit growth of 26% was driven by sales event growth and client cross-selling. Our Investment Managers offering continues to gain traction, most notably with private credit and global clients.
◦Investment Advisors operating profit growth of 47% was largely driven by a $21.1 million contribution from the integrated cash program in the quarter.
◦Modest Institutional Investors revenue and operating profit growth reflects improvement vs. the first half of 2024, with the business working to offset the negative impact of corporate defined benefit plan terminations.
◦Absent the negative impact of incentive and stock compensation expenses noted above, SEI's consolidated operating margins improved relative to the prior year and the prior quarter.
•Average assets under administration increased by 3%, and average assets under management increased by 1%, relative to Q3 2024. However, ending assets under management declined by 3% vs. Q3 2024 due to a combination of market valuation and net outflows, most notably for LSV and Institutional Investors, which saw an unusually large impact of plan terminations.
◦Relative to Q4 2023, both average assets under administration and assets under management realized healthy growth of 15% and 18%, respectively.
•Earnings from LSV decreased to $33.4 million in the fourth quarter 2024 as compared to $35.4 million in the fourth quarter 2023, due to slightly lower incentive fees.
•SEI repurchased 3.1 million shares of common stock for $259.5 million during the fourth quarter 2024 at an average price of $83.43 per share.
3


Earnings Conference Call
A conference call and presentation to review earnings is scheduled for 5 p.m. Eastern time on Jan. 29, 2025. Investors and the public may review the presentation and listen to the call and replay at seic.com/ir-events.

About SEI®
SEI (NASDAQ:SEIC) delivers technology and investment solutions that connect the financial services industry. With capabilities across investment processing, operations, and asset management, SEI works with corporations, financial institutions and professionals, and ultra-high-net-worth families to help drive growth, make confident decisions, and protect futures. As of Dec. 31, 2024, SEI manages, advises, or administers approximately $1.6 trillion in assets. For more information, visit seic.com.

This release contains forward-looking statements within the meaning or the rules and regulations of the Securities and Exchange Commission. In some cases you can identify forward-looking statements by terminology, such as "may," "will," "expect," "believe" and "continue" or "appear." Our forward-looking statements include our current expectations as to:
•our focus on maximizing our return on invested capital across our segments and solutions globally;
•our ability to deliver long-term value for our stakeholders; and
•when and if we will generate net annualized recurring revenues from sales events that occurred during the quarter, as well as the amount of any such revenue.
You should not place undue reliance on our forward-looking statements, as they are based on the current beliefs and expectations of our management and subject to significant risks and uncertainties, many of which are beyond our control or are subject to change. Although we believe the assumptions upon which we base our forward-looking statements are reasonable, they could be inaccurate. Some of the risks and important factors that could cause actual results to differ from those described in our forward-looking statements can be found in the “Risk Factors” section of our Annual Report on Form 10-K for the year ended Dec. 31, 2023, filed with the Securities and Exchange Commission.
# # #
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,
2024202320242023
Asset management, admin. and distribution fees$439,520 $383,571 $1,677,143 $1,514,815 
Information processing and software servicing fees117,670 101,287 448,008 404,978 
Total revenues557,190 484,858 2,125,151 1,919,793 
Subadvisory, distribution and other asset mgmt. costs50,427 47,106 191,706 189,263 
Software royalties and other information processing costs8,726 8,505 34,229 32,289 
Compensation, benefits and other personnel200,347 184,508 770,881 714,099 
Stock-based compensation21,402 7,850 58,626 31,308 
Consulting, outsourcing and professional fees52,548 54,850 211,806 231,469 
Data processing and computer related38,863 34,735 151,653 137,036 
Facilities, supplies and other costs20,487 27,011 79,282 85,836 
Amortization10,585 9,818 41,869 38,669 
Depreciation8,261 8,791 33,358 35,300 
Total expenses411,646 383,174 1,573,410 1,495,269 
Income from operations145,544 101,684 551,741 424,524 
Net (loss) gain from investments(559)1,704 2,790 2,757 
Interest and dividend income12,947 11,574 48,897 41,027 
Interest expense(144)(187)(563)(583)
Other income— — 8,151 — 
Equity in earnings of unconsolidated affiliate33,366 35,413 135,741 126,930 
Income before income taxes191,154 150,188 746,757 594,655 
Income taxes35,383 29,457 165,566 132,397 
Net income$155,771 $120,731 $581,191 $462,258 
Basic earnings per common share$1.21 $0.92 $4.47 $3.49 
Shares used to calculate basic earnings per share128,642 131,269 130,073 132,593 
Diluted earnings per common share$1.19 $0.91 $4.41 $3.46 
Shares used to calculate diluted earnings per share131,421 132,160 131,727 133,728 
Dividends declared per common share$0.49 $0.46 $0.95 $0.89 
5


SEI INVESTMENTS COMPANY
CONSOLIDATED CONDENSED BALANCE SHEETS
(In thousands) (Unaudited)
December 31,December 31,
20242023
Assets
Current Assets:
Cash and cash equivalents$839,891 $834,697 
Restricted cash302 301 
Receivables from investment products54,118 55,886 
Receivables, net of allowance for doubtful accounts of $1,435 and $663
567,634 501,434 
Securities owned29,583 31,334 
Other current assets60,282 54,464 
Total Current Assets1,551,810 1,478,116 
Property and Equipment, net of accumulated depreciation of $493,219 and $474,034
159,643 171,364 
Operating Lease Right-of-Use Assets28,905 22,477 
Capitalized Software, net of accumulated amortization of $641,071 and $612,971
236,023 239,783 
Investments315,567 273,510 
Goodwill and Intangible Assets, net247,657 219,776 
Deferred Contract Costs45,855 40,221 
Deferred Income Taxes51,984 37,709 
Other Assets, net47,162 37,047 
Total Assets$2,684,606 $2,520,003 
Liabilities and Equity
Current Liabilities:
Accounts payable$13,081 $10,618 
Accrued liabilities347,513 318,945 
Current portion of long-term operating lease liabilities7,900 8,118 
Deferred revenue12,019 15,366 
Total Current Liabilities380,513 353,047 
Long-term Income Taxes Payable803 803 
Long-term Operating Lease Liabilities24,235 17,235 
Other Long-term Liabilities26,943 17,090 
Total Liabilities432,494 388,175 
Shareholders' Equity:
Common stock, $0.01 par value, 750,000 shares authorized; 126,840 and 131,178 shares issued and outstanding
1,268 1,312 
Capital in excess of par value1,539,816 1,404,962 
Retained earnings758,003 762,586 
Accumulated other comprehensive loss, net(46,975)(37,032)
Total Shareholders' Equity2,252,112 2,131,828 
Total Liabilities and Shareholders' Equity$2,684,606 $2,520,003 
6


SEI INVESTMENTS COMPANY
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
(In thousands) (Unaudited)
For the Twelve Months Ended December 31,
20242023
Cash flows from operating activities:
Net income$581,191 $462,258 
Adjustments to reconcile net income to net cash provided by operating activities$41,152 ($15,228)
Net cash provided by operating activities$622,343 $447,030 
Net cash used in investing activities($117,302)($141,543)
Net cash used in financing activities($494,401)($331,324)
Effect of exchange rate changes on cash, cash equivalents and restricted cash(5,445)7,476 
Net increase (decrease) in cash, cash equivalents and restricted cash5,195 (18,361)
Cash, cash equivalents and restricted cash, beginning of period834,998 853,359 
Cash, cash equivalents and restricted cash, end of period$840,193 $834,998 
7


ENDING ASSET BALANCES
(In millions) (Unaudited)
Dec. 31,Mar. 31,Jun. 30,Sept. 30,Dec. 31,
20232024202420242024
Private Banks:
Equity and fixed-income programs$24,496 $25,282 $25,031 $26,565 $25,523 
Collective trust fund programs4 5 5 5 4 
Liquidity funds3,916 2,733 2,699 2,948 2,688 
Total assets under management$28,416 $28,020 $27,735 $29,518 $28,215 
Client assets under administration7,267 8,024 7,813 8,349 8,340 
Total assets$35,683 $36,044 $35,548 $37,867 $36,555 
Investment Advisors:
Equity and fixed-income programs$71,634 $74,715 $74,556 $78,361 $76,283 
Liquidity funds4,812 4,722 4,301 2,790 3,105 
Total Platform assets under management$76,446 $79,437 $78,857 $81,151 $79,388 
Platform-only assets18,324 20,516 21,908 24,501 25,244 
Platform-only assets-deposit program843 897 894 2,447 2,398 
Total Platform assets$95,613 $100,850 $101,659 $108,099 $107,030 
Institutional Investors:
Equity and fixed-income programs$77,208 $75,969 $75,542 $79,252 $75,481 
Collective trust fund programs1 1 1 1 1 
Liquidity funds1,734 2,179 2,309 1,829 1,511 
Total assets under management$78,943 $78,149 $77,852 $81,082 $76,993 
Client assets under advisement6,120 6,862 7,886 8,038 5,955 
Total assets$85,063 $85,011 $85,738 $89,120 $82,948 
Investment Managers:
Collective trust fund programs (A)$156,376 $161,660 $192,747 $204,429 $202,384 
Liquidity funds114 202 221 233 188 
Total assets under management$156,490 $161,862 $192,968 $204,662 $202,572 
Client assets under administration920,757 959,904 998,315 1,022,515 1,032,812 
Total assets$1,077,247 $1,121,766 $1,191,283 $1,227,177 $1,235,384 
Investments in New Businesses:
Equity and fixed-income programs$2,174 $2,269 $2,285 $2,825 $2,747 
Liquidity funds209 223 631 246 297 
Total assets under management$2,383 $2,492 $2,916 $3,071 $3,044 
Client assets under advisement1,150 1,248 1,886 2,021 2,185 
Client assets under administration14,807 15,411 14,848 15,110 14,791 
Total assets$18,340 $19,151 $19,650 $20,202 $20,020 
LSV Asset Management:
Equity and fixed-income programs (B)$89,312 $93,616 $90,197 $93,855 $86,501 
Total:
Equity and fixed-income programs (C)$264,824 $271,851 $267,611 $280,858 $266,535 
Collective trust fund programs156,381 161,666 192,753 204,435 202,389 
Liquidity funds10,785 10,059 10,161 8,046 7,789 
Total assets under management$431,990 $443,576 $470,525 $493,339 $476,713 
Client assets under advisement7,270 8,110 9,772 10,059 8,140 
Client assets under administration (D)942,831 983,339 1,020,976 1,045,974 1,055,943 
Platform-only assets19,167 21,413 22,802 26,948 27,642 
Total assets$1,401,258 $1,456,438 $1,524,075 $1,576,320 $1,568,438 
(A)Collective trust fund program assets in the Investment Managers segment are included in assets under management since SEI is the trustee. Fees earned on this product are less than fees earned on customized asset management programs.
(B)Equity and fixed-income programs include $1.4 billion of assets managed by LSV in which fees are based solely on performance and are not calculated as an asset-based fee (as of December 31, 2024).
(C)Equity and fixed-income programs include $6.4 billion of assets invested in various asset allocation funds (as of December 31, 2024).
(D)    In addition to the assets presented, SEI also administers an additional $10.3 billion in Funds of Funds assets on which SEI does not earn an administration fee (as of December 31, 2024).
8


AVERAGE ASSET BALANCES
(In millions) (Unaudited)
4th Qtr.1st Qtr.2nd Qtr.3rd Qtr.4th Qtr.
20232024202420242024
Private Banks:
Equity and fixed-income programs$23,309 $24,593 $24,859 $25,823 $26,067 
Collective trust fund programs5 4 5 5 4 
Liquidity funds3,808 3,902 2,734 2,858 2,814 
Total assets under management$27,122 $28,499 $27,598 $28,686 $28,885 
Client assets under administration7,083 7,753 7,884 8,074 8,395 
Total assets$34,205 $36,252 $35,482 $36,760 $37,280 
Investment Advisors:
Equity and fixed-income programs$68,369 $72,689 $73,793 $76,111 $77,866 
Liquidity funds5,046 4,649 4,348 4,264 3,031 
Total Platform assets under management$73,415 $77,338 $78,141 $80,375 $80,897 
Platform-only assets17,201 19,198 20,897 23,194 25,109 
Platform-only assets-deposit program281 849 886 1,176 2,186 
Total Platform assets$90,897 $97,385 $99,924 $104,745 $108,192 
Institutional Investors:
Equity and fixed-income programs$73,644 $76,414 $75,203 $77,473 $77,399 
Collective trust fund programs3 1 1 1 1 
Liquidity funds1,682 1,812 1,893 2,046 2,154 
Total assets under management$75,329 $78,227 $77,097 $79,520 $79,554 
Client assets under advisement4,607 6,498 7,508 7,925 6,991 
Total assets$79,936 $84,725 $84,605 $87,445 $86,545 
Investment Managers:
Collective trust fund programs (A)$149,551 $156,737 $189,884 $198,839 $204,954 
Liquidity funds205 207 227 245 223 
Total assets under management$149,756 $156,944 $190,111 $199,084 $205,177 
Client assets under administration901,487 938,804 982,806 1,005,111 1,034,500 
Total assets$1,051,243 $1,095,748 $1,172,917 $1,204,195 $1,239,677 
Investments in New Businesses:
Equity and fixed-income programs$2,069 $2,200 $2,234 $2,432 $2,819 
Liquidity funds197 214 471 546 269 
Total assets under management$2,266 $2,414 $2,705 $2,978 $3,088 
Client assets under advisement1,080 1,194 2,014 1,885 2,110 
Client assets under administration14,781 15,147 14,713 14,973 14,961 
Total assets$18,127 $18,755 $19,432 $19,836 $20,159 
LSV Asset Management:
Equity and fixed-income programs (B)$84,492 $90,708 $90,849 $93,195 $88,880 
Total:
Equity and fixed-income programs (C)$251,883 $266,604 $266,938 $275,034 $273,031 
Collective trust fund programs149,559 156,742 189,890 198,845 204,959 
Liquidity funds10,938 10,784 9,673 9,959 8,491 
Total assets under management$412,380 $434,130 $466,501 $483,838 $486,481 
Client assets under advisement5,687 7,692 9,522 9,810 9,101 
Client assets under administration (D)923,351 961,704 1,005,403 1,028,158 1,057,856 
Platform-only assets17,482 20,047 21,783 24,370 27,295 
Total assets$1,358,900 $1,423,573 $1,503,209 $1,546,176 $1,580,733 
(A)    Collective trust fund program average assets in the Investment Managers segment are included in assets under management since SEI is the trustee. Fees earned on this product are less than fees earned on customized asset management programs.
(B)    Equity and fixed-income programs during fourth-quarter 2024 include $1.5 billion of average assets managed by LSV in which fees are based solely on performance and are not calculated as an asset-based fee.
(C)    Equity and fixed-income programs include $6.4 billion of average assets invested in various asset allocation funds during fourth-quarter 2024.
(D)    In addition to the assets presented, SEI also administers an additional $9.4 billion of average assets in Funds of Funds assets during fourth-quarter 2024 on which SEI does not earn an administration fee.
9


SALES EVENTS
(In thousands) (Unaudited)
Net Recurring Sales Events
4th Qtr.1st Qtr.2nd Qtr.3rd Qtr.4th Qtr.
20232024202420242024
Investment Processing-related Businesses:
Private Banks$2,210 $247 $4,331 $9,417 $9,245 
Investment Managers15,314 20,407 17,180 23,319 18,027 
Total Investment Processing-related Businesses$17,524 $20,654 $21,511 $32,736 $27,272 
Asset Management-related Businesses:
Private Banks-AMD$(1,068)$(85)$(494)$(854)$495 
Investment Advisors(5,277)(942)(3,299)2,686 1,339 
Institutional Investors(4,151)(4,649)(1,787)(576)(2,673)
Total Asset Management-related Businesses$(10,496)$(5,676)$(5,580)$1,256 $(839)
Newer Initiatives:
Investments in New Businesses$1,432 $1,494 $(43)$936 $1,778 
Total Net Recurring Sales Events$8,460 $16,472 $15,888 $34,928 $28,211 
Non-Recurring Sales Events
4th Qtr.1st Qtr.2nd Qtr.3rd Qtr.4th Qtr.
20232024202420242024
Investment Processing-related Businesses:
Private Banks$3,489 $2,613 $4,431 $8,796 $6,622 
Investment Managers1,000 1,213 930 712 2,465 
Total Investment Processing-related Businesses$4,489 $3,826 $5,361 $9,508 $9,087 
Newer Initiatives:
Investments in New Businesses$770 $987 $717 $1,976 $921 
Total Non-Recurring Sales Events$5,259 $4,813 $6,078 $11,484 $10,008 
Total Sales Events
4th Qtr.1st Qtr.2nd Qtr.3rd Qtr.4th Qtr.
20232024202420242024
Investment Processing-related Businesses:
Private Banks$5,699 $2,860 $8,762 $18,213 $15,867 
Investment Managers16,314 21,620 18,110 24,031 20,492 
Total Investment Processing-related Businesses$22,013 $24,480 $26,872 $42,244 $36,359 
Asset Management-related Businesses:
Private Banks-AMD$(1,068)$(85)$(494)$(854)$495 
Investment Advisors(5,277)(942)(3,299)2,686 1,339 
Institutional Investors(4,151)(4,649)(1,787)(576)(2,673)
Total Asset Management-related Businesses$(10,496)$(5,676)$(5,580)$1,256 $(839)
Newer Initiatives:
Investments in New Businesses$2,202 $2,481 $674 $2,912 $2,699 
Total Sales Events$13,719 $21,285 $21,966 $46,412 $38,219 
10

SEI Investments Company (NASDAQ: SEIC) Q4 2024 Earnings Presentation

 
This presentation contains forward-looking statements within the meaning or the rules and regulations of the Securities and Exchange Commission. In some cases you can identify forward-looking statements by terminology, such as "may," "will," "expect," "believe," ”remain” and "continue" or "appear." Our forward-looking statements include our current expectations as to: • our ability to maintain our sales momentum; • the strength of our core businesses; • our strategic priorities and the strength of our execution against these priorities; • our investment priorities; • the demand for our products and services, including alternative investment products, the outsourcing services of our Investment Managers business, Data Cloud and Integration Transition Services; • the degree to which, if any, new sales events will result in revenue; • the duration and extent of our competitive advantages and differentiations; • the headwinds that may affect our businesses; • the opportunities available to us for growth and to gain share in the markets in which we currently, and seek to, participate; • the performance of our various businesses, including the margins and profitability of such businesses and the events that may affect the margins, profitability and growth prospects of these businesses; • the benefits, if any, that we or our clients may derive from acquired assets; • the strength and elements of our balance sheet; • the strength of our pipelines and the momentum that each may have; • the benefits of our expense management efforts and our focus on these efforts; • our run rate and the stability of the elements of that run rate; • the effects of any change to the federal funds rate on our businesses or products and the revenue associated with these items; • the amount of revenue we may generate from the cash balances in our Integrated Cash Program, the degree to which the revenue we generate will moderate and the potential causation of this moderation, if any; • the amount, if any, of management fees that may be received by LSV and the contribution of such management fees to our equity income; 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, 2023, filed with the Securities and Exchange Commission. Past performance does not guarantee future results. Safe Harbor Statement 2 SEI Earnings PresentationQ4 2024

 
Q4 2024 vs. Q4 '23 vs. Q3 '24 Revenues 557.2 14.9% 3.7% Operating Income 145.5 43.1% 1.2% Net Income 155.8 29.0% 0.6% EPS $1.19 30.8% 0.0% Net Sales Events 38.2 178.6% -17.7% Operating Margin 26.1% 5.1% -0.6% Assets Under Management ($B) 476.7 10.4% -3.4% Administration, Platform & Advisement ($B) 1,091.7 12.6% 0.8% % Change Q4 2024 highlights. SEI Earnings PresentationQ4 2024 Second consecutive quarter in which SEI has realized significant growth in net sales, revenue, and earnings Net sales events reflect second highest quarter in SEI history, matched only by Q3 2024 Combined client assets are nearly flat with prior quarter despite modest market valuation pressure in Q4 SEI has made meaningful and consistent progress over the last 18 months and remains focused on maintaining and growing this momentum $ in millions except EPS; AUM; and Assets under administration, platform-only, and under advisement Operating margin % change represents improvement or decline in margin rate vs. prior period Q4 2024 reflects strong continued momentum Q4 2024 Financial Snapshot 3

 
Earnings per share. SEI Earnings PresentationQ4 2024 All business units realized revenue, operating profit, and margin growth vs. Q4 2023 Q4 EPS matches prior quarter’s record level despite $0.02 headwind from items affecting comparability: • $0.04 from higher incentive comp. payout % for full-year ‘24 • $0.05 from stock-based compensation timing • $0.02 benefit from FX gains within corporate overhead • $0.05 tax rate benefit from stock option exercises/provision true-up Q4 EPS grew 31% vs. prior year $0.91 $0.04 $0.12 $0.01 $0.09 -$0.01 -$0.01 $0.02 $0.01 $1.19 Q4 2023 Private Banks Investment Advisors Institutional Investors Investment Managers LSV Income Corporate Overhead Tax Rate & Other Share Count Q4 2024 +31% $1.19 -$0.02 $0.03 -$0.01 $0.02 -$0.02 $0.00 $0.01 -$0.01 $1.19 Q3 2024 Private Banks Investment Advisors Institutional Investors Investment Managers LSV Income Corporate Overhead Tax Rate & Other Share Count Q4 2024 Flat 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 $0.06 negative impact from higher incentive comp. and stock-based comp. timing 4

 
Business unit performance. SEI Earnings PresentationQ4 2024 Revenue ($M) Private Banking growth supported by recent sales events, client retention and conversion of client backlog Investment Managers growth driven by continued sales event growth and client cross-selling Advisor growth driven by Integrated Cash Program ($21M revenue), a $10.5M increase over Q3 Modest Institutional revenue growth in Q4 (+1%) represents improvement vs. H1 2024 (-4%) due to focus on offsetting Corporate DB plan termination headwinds Business unit highlightsOperating profit ($M) $123 $169 $110 $70 $139 $185 $127 $72 $140 $191 $139 $71 Private Banking Investment Managers Investment Advisors Institutional Investors Q4 2023 Q3 2024 Q4 2024 $13 $58 $43 $31 $24 $70 $57 $34 $20 $73 $62 $32 Private Banking Investment Managers Investment Advisors Institutional Investors Q4 2023 Q3 2024 Q4 2024 +14% +13% +27% +1% +56% +26% +47% +6% 5

 
Operating margins. SEI Earnings PresentationQ4 2024 -4.0% -2.0% 0.0% 2.0% 4.0% 6.0% 8.0% 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 Management is pleased with Q4 margin performance, vs. both prior year and Q3 2024 SEI’s consolidated operating margin declined by 70bps from Q3 2024, driven by items affecting comparability, which had a 210bps impact on Q4 2024 Absent these items, SEI’s consolidated margin would have increased on both a year-over-year AND sequential basis 6

 
Net sales events. SEI Earnings PresentationQ4 2024 $11.1 $8.5 $16.5 $15.9 $34.9 $28.2 $3.3 $5.3 $4.8 $6.1 $11.5 $10.0 Q3 '23 Q4 '23 Q1 '24 Q2 '24 Q3 '24 Q4 '24 Recurring Non-Recurring Total net sales events ($M) Net sales events of $38M in Q4 bring full-year net sales events to record $128M; 58% above prior year 2023 Prior quarter (Q3) net sales events benefited by approximately $7M due to delays in H1 2024 Q4 sales events growth more notable in Private Banking and Investment Managers segments: • Private Banking realized sales events across client type and geography; regional banks and global clients were notable contributors • Investment Managers sales events from mix of traditional, alternative and global; global, in particular, supported the strong Q4 Institutional segment net events offset growth elsewhere driven by corporate DB plan terminations Net sales events reached record $128M in 2024 7

 
Client asset summary. SEI Earnings PresentationQ4 2024 AUA and assets on platform ($B)* AUM ($B) $969 $1,083 $1,092 Q4 2023 Q3 2024 Q4 2024 +13% +1% $432 $493 $477 Q4 2023 Q3 2024 Q4 2024 +10% -3% Highlights • Both AUM and AUA reflect significant growth achieved during 2024. Sequential AUM decline affected by modest market valuation headwind • Investment Managers growth driven by continued strength in alternatives, as managers deploy capital • Advisors sequential decline in AUM offset by growth in platform-only assets as Advisors has retained mandates moving to third parties • Institutional sequential decline in AUM reflects known and expected plan terminations in Q4 • LSV sequential AUM decline reflects continued active to passive outflow pressure, changing client asset allocations and market pressure for global and value stock markets in Q4. Long-term performance vs. benchmarks remains impressive on 3-year and 5-year basis *Assets under administration, advisement and platform-only 8

 
Capital allocation, liquidity, and capitalization. SEI Earnings PresentationQ4 2024 $259 $500 $0 $120 Q4 '24 TTM Q4 '24 Buybacks Dividends Capital returned to shareholders ($M) Liquidity and capitalization ($M) $840 $0 $10,600 Cash Long-Term Debt Market Capitalization SEI returned $259M and $620M of capital to shareholders through dividends and share repurchases in Q4 2024 and full-year 2024, respectively Q4 share repurchases represent highest level in SEI history SEI continues to maintain significant liquidity and a conservative balance sheet, with more than $800M of cash and no net debt as of Q4 2024 Highlights 9

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

 
v3.24.4
Cover
Jan. 29, 2025
Cover [Abstract]  
Document Type 8-K
Document Period End Date Jan. 29, 2025
Entity Registrant Name SEI INVESTMENTS COMPANY
Entity Central Index Key 0000350894
Amendment Flag false
Entity Incorporation, State or Country Code PA
Entity File Number 0-10200
Entity Tax Identification Number 23-1707341
Entity Address, Address Line One 1 Freedom Valley Drive
Entity Address, City or Town Oaks
Entity Address, State or Province PA
Entity Address, Postal Zip Code 19456
City Area Code 610
Local Phone Number 676-1000
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, par value $0.01 per share
Trading Symbol SEIC
Security Exchange Name NASDAQ
Entity Emerging Growth Company false
SEI Investments (NASDAQ:SEIC)
Historical Stock Chart
From Feb 2025 to Mar 2025 Click Here for more SEI Investments Charts.
SEI Investments (NASDAQ:SEIC)
Historical Stock Chart
From Mar 2024 to Mar 2025 Click Here for more SEI Investments Charts.