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Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2020	Jul. 23, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	0-10200
Entity Registrant Name	SEI INVESTMENTS COMPANY
Entity Incorporation, State or Country Code	PA
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
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	SEIC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		146,501,594
Entity Central Index Key	0000350894
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current Assets:
Cash and cash equivalents	$ 758,276	$ 841,446
Restricted cash	3,101	3,101
Receivables from investment products	49,873	54,165
Receivables, net of allowance for doubtful accounts of $1,079 and $1,201	351,614	340,358
Securities owned	35,030	33,486
Other current assets	35,005	32,289
Total Current Assets	1,232,899	1,304,845
Property and Equipment, net of accumulated depreciation of $367,677 and $353,453	182,273	160,859
Operating Lease Right-of-Use Assets	39,076	42,789
Capitalized Software, net of accumulated amortization of $466,937 and $442,677	284,341	296,068
Available for Sale and Equity Securities	105,361	116,917
Investments in Affiliated Funds, at fair value	4,749	5,988
Investment in Unconsolidated Affiliate	41,094	67,413
Goodwill	64,489	64,489
Intangible Assets, net of accumulated amortization of $10,615 and $8,773	26,145	27,987
Deferred Contract Costs	33,108	30,991
Deferred Income Taxes	2,343	2,822
Other Assets, net	37,722	30,202
Total Assets	2,053,600	2,151,370
Current Liabilities:
Accounts payable	10,780	4,423
Accrued liabilities	210,711	272,801
Current portion of long-term operating lease liabilities	8,285	9,156
Deferred revenue	6,349	7,185
Total Current Liabilities	236,125	293,565
Long-term Income Taxes Payable	803	803
Deferred Income Taxes	50,219	55,722
Long-term Operating Lease Liabilities	35,224	38,450
Other Long-term Liabilities	22,604	24,052
Total Liabilities	344,975	412,592
Commitments and Contingencies
Shareholders' Equity:
Common stock, $0.01 par value, 750,000 shares authorized; 146,445 and 149,745 shares issued and outstanding	1,464	1,497
Capital in excess of par value	1,174,411	1,158,900
Retained earnings	566,929	601,885
Accumulated other comprehensive loss, net	(34,179)	(23,504)
Total Shareholders' Equity	1,708,625	1,738,778
Total Liabilities and Shareholders' Equity	$ 2,053,600	$ 2,151,370

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues:
Revenues	$ 400,646	$ 409,586	$ 815,408	$ 810,406
Expenses:
Subadvisory, distribution and other asset management costs	44,182	46,177	89,519	89,982
Software royalties and other information processing costs	7,389	7,393	14,836	15,521
Compensation, benefits and other personnel	125,331	125,999	256,812	256,334
Stock-based compensation	7,062	5,064	13,991	10,102
Consulting, outsourcing and professional fees	57,111	45,330	110,401	95,536
Data processing and computer related	24,506	22,184	47,210	43,176
Facilities, supplies and other costs	13,973	17,100	30,769	35,845
Amortization	13,140	12,781	26,217	25,460
Depreciation	7,640	7,422	15,113	14,753
Total expenses	300,334	289,450	604,868	586,709
Income from operations	100,312	120,136	210,540	223,697
Net gain (loss) from investments	1,903	231	(2,086)	1,510
Interest and dividend income	1,370	4,313	4,573	8,570
Interest expense	(151)	(166)	(303)	(323)
Equity in earnings of unconsolidated affiliate	28,276	37,832	58,183	75,149
Income before income taxes	131,710	162,346	270,907	308,603
Income taxes	30,644	35,806	60,599	68,082
Net income	$ 101,066	$ 126,540	$ 210,308	$ 240,521
Basic earnings per common share (in USD per share)	$ 0.69	$ 0.83	$ 1.42	$ 1.58
Shares used to compute basic earnings per share (in shares)	147,478	151,863	148,473	152,587
Diluted earnings per common share (in USD per share)	$ 0.68	$ 0.82	$ 1.39	$ 1.54
Shares used to compute diluted earnings per share (in shares)	149,598	155,165	150,983	155,853
Dividends declared per common share (in USD per share)	$ 0.35	$ 0.33	$ 0.35	$ 0.33
Asset management, administration and distribution fees
Revenues:
Revenues	$ 320,577	$ 324,925	$ 652,430	$ 638,869
Information processing and software servicing fees
Revenues:
Revenues	$ 80,069	$ 84,661	$ 162,978	$ 171,537

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 101,066	$ 126,540	$ 210,308	$ 240,521
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	940	(2,877)	(12,136)	520
Unrealized gain on investments:
Unrealized gains during the period, net of income taxes of $(33), $(230), $(372) and $(470)	113	765	1,244	1,562
Reclassification adjustment for losses realized in net income, net of income taxes of $(35), $(26), $(63) and $(50)	116	92	217	178
Unrealized gain on investments	229	857	1,461	1,740
Net current-period other comprehensive loss	1,169	(2,020)	(10,675)	2,260
Comprehensive income	$ 102,235	$ 124,520	$ 199,633	$ 242,781

Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Unrealized gains during the period, taxes	$ 33	$ 230	$ 372	$ 470
Reclassification adjustment for losses realized in net income, tax benefit	$ 35	$ 26	$ 63	$ 50

Consolidated Statements of Changes in Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Capital In Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance, shares at Dec. 31, 2018		153,634
Beginning balance at Dec. 31, 2018	$ 1,593,147	$ 1,536	$ 1,106,641	$ 517,970	$ (33,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	240,521			240,521
Other comprehensive income (loss)	2,260				2,260
Purchase and retirement of common stock	(185,817)	$ (35)	(18,939)	(166,843)
Purchase and retirement of common stock, shares		(3,550)
Issuance of common stock under employee stock purchase plan	2,393	$ 0	2,393
Issuance of common stock under employee stock purchase plan, shares		56
Issuance of common stock upon exercise of stock options	21,879	$ 8	21,871
Issuance of common stock upon exercise of stock options, shares		815
Stock-based compensation	10,102		10,102
Dividends declared	(49,984)			(49,984)
Ending balance at Jun. 30, 2019	1,634,501	$ 1,509	1,122,068	541,664	(30,740)
Ending balance, shares at Jun. 30, 2019		150,955
Beginning balance, shares at Mar. 31, 2019		152,276
Beginning balance at Mar. 31, 2019	1,636,550	$ 1,523	1,111,366	552,381	(28,720)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	126,540			126,540
Other comprehensive income (loss)	(2,020)				(2,020)
Purchase and retirement of common stock	(97,028)	$ (18)	(9,737)	(87,273)
Purchase and retirement of common stock, shares		(1,825)
Issuance of common stock under employee stock purchase plan	1,071	$ 0	1,071
Issuance of common stock under employee stock purchase plan, shares		24
Issuance of common stock upon exercise of stock options	14,308	$ 4	14,304
Issuance of common stock upon exercise of stock options, shares		480
Stock-based compensation	5,064		5,064
Dividends declared	(49,984)			(49,984)
Ending balance at Jun. 30, 2019	$ 1,634,501	$ 1,509	1,122,068	541,664	(30,740)
Ending balance, shares at Jun. 30, 2019		150,955
Beginning balance, shares at Dec. 31, 2019	149,745	149,745
Beginning balance at Dec. 31, 2019	$ 1,738,778	$ 1,497	1,158,900	601,885	(23,504)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	210,308			210,308
Other comprehensive income (loss)	(10,675)				(10,675)
Purchase and retirement of common stock	(216,902)	$ (40)	(23,060)	(193,802)
Purchase and retirement of common stock, shares		(4,075)
Issuance of common stock under employee stock purchase plan	2,248	$ 0	2,248
Issuance of common stock under employee stock purchase plan, shares		47
Issuance of common stock upon exercise of stock options	22,339	$ 7	22,332
Issuance of common stock upon exercise of stock options, shares		728
Stock-based compensation	13,991		13,991
Dividends declared	(51,462)			(51,462)
Ending balance at Jun. 30, 2020	$ 1,708,625	$ 1,464	1,174,411	566,929	(34,179)
Ending balance, shares at Jun. 30, 2020	146,445	146,445
Beginning balance, shares at Mar. 31, 2020		147,903
Beginning balance at Mar. 31, 2020	$ 1,734,266	$ 1,479	1,170,649	597,486	(35,348)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	101,066			101,066
Other comprehensive income (loss)	1,169				1,169
Purchase and retirement of common stock	(89,470)	$ (16)	(9,293)	(80,161)
Purchase and retirement of common stock, shares		(1,642)
Issuance of common stock under employee stock purchase plan	1,142	$ 0	1,142
Issuance of common stock under employee stock purchase plan, shares		26
Issuance of common stock upon exercise of stock options	4,852	$ 1	4,851
Issuance of common stock upon exercise of stock options, shares		158
Stock-based compensation	7,062		7,062
Dividends declared	(51,462)			(51,462)
Ending balance at Jun. 30, 2020	$ 1,708,625	$ 1,464	$ 1,174,411	$ 566,929	$ (34,179)
Ending balance, shares at Jun. 30, 2020	146,445	146,445

Consolidated Statements of Changes in Equity (Unaudited) (Parenthetical) - $ / shares		3 Months Ended		6 Months Ended
	Jun. 03, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in USD per share)	$ 0.35	$ 0.35	$ 0.33	$ 0.35	$ 0.33

Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Cash flows from operating activities:
Net income	$ 101,066	$ 126,540	$ 210,308	$ 240,521
Adjustments to reconcile net income to net cash provided by operating activities (See Note 1)			53,824	(22,876)
Net cash provided by operating activities			264,132	217,645
Cash flows from investing activities:
Additions to property and equipment			(34,442)	(18,239)
Additions to capitalized software			(12,533)	(19,188)
Purchases of marketable securities			(60,764)	(77,891)
Prepayments and maturities of marketable securities			71,782	85,012
Sales of marketable securities			64	0
Other investing activities			(1,500)	0
Net cash used in investing activities			(37,393)	(30,306)
Cash flows from financing activities:
Payment of contingent consideration			(633)	0
Purchase and retirement of common stock			(219,404)	(183,396)
Proceeds from issuance of common stock			24,587	24,272
Payment of dividends			(103,914)	(100,745)
Net cash used in financing activities			(299,364)	(259,869)
Effect of exchange rate changes on cash, cash equivalents and restricted cash			(10,545)	277
Net decrease in cash, cash equivalents and restricted cash			(83,170)	(72,253)
Cash, cash equivalents and restricted cash, beginning of period			844,547	758,039	$ 758,039
Cash, cash equivalents and restricted cash, end of period	$ 761,377	$ 685,786	761,377	685,786	$ 844,547
Non-cash operating activities:
Operating lease right-of-use assets and net lease liabilities recorded upon adoption of ASC 842			$ 0	$ 44,169

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Receivables, allowance for doubtful accounts	$ 1,079	$ 1,201
Property and equipment, accumulated depreciation	367,677	353,453
Capitalized Software, accumulated amortization	466,937	442,677
Intangible Assets, accumulated amortization	$ 10,615	$ 8,773
Shareholders' Equity:
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized	750,000,000	750,000,000
Common stock, shares issued	146,445,000	149,745,000
Common stock, shares outstanding	146,445,000	149,745,000

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Nature of Operations

SEI Investments Company (the Company), a Pennsylvania corporation, provides comprehensive platforms for investment processing, investment operations and investment management to wealth managers, financial institutions, financial advisors, investment managers, institutional investors and ultra-high-net-worth families in the United States, Canada, the United Kingdom, continental Europe and various other locations throughout the world.

Investment processing platforms consist of application and business process outsourcing services, professional services and transaction-based services. Revenues from investment processing platforms are recognized in Information processing and software servicing fees on the accompanying Consolidated Statements of Operations.

Investment operations platforms consist of outsourcing services including fund and investment accounting, administration, reconciliation, investor servicing and client reporting. Revenues from investment operations platforms are recognized in Asset management, administration and distribution fees on the accompanying Consolidated Statements of Operations.

Investment management platforms consists of investment products including mutual funds, collective investment products, alternative investment portfolios and separately managed accounts. The Company serves as the administrator and investment advisor for many of these products. Revenues from investment management platforms are recognized in Asset management, administration and distribution fees on the accompanying Consolidated Statements of Operations.

Basis of Presentation

The accompanying Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America. Certain financial information and accompanying note disclosure normally included in the Company’s Annual Report on Form 10-K have been condensed or omitted. The interim financial information is unaudited but reflects all adjustments (consisting of only normal recurring adjustments) which are, in the opinion of management, necessary for a fair statement of financial position of the Company as of June 30, 2020, the results of operations for the three and six months ended June 30, 2020 and 2019, and cash flows for the six-months ended June 30, 2020 and 2019. These interim Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and the Notes to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019.

The Company adopted the requirements of Accounting Standards Update (ASU) 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (Accounting Standards Codification (ASC) 326)) (ASU 2016-13) and subsequent amendments ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments (ASU 2019-04) and ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments-Credit Losses (ASU 2019-11) on January 1, 2020. ASU 2016-13 and the related amendments are hereafter referred to as ASC 326. ASC 326 requires that expected credit losses relating to financial assets measured on an amortized cost basis and available-for-sale debt securities be recorded through an allowance for credit losses. The Company owns mortgage-backed securities issued by the Government National Mortgage Association (GNMA), a federal agency of the U.S. government classified as Available-for-sale debt securities which qualify for the zero credit risk allowance. The Company's U.S. Treasury and other U.S. government agency securities classified as Securities owned are outside the scope of ASC 326. There was no impact to the Company's disclosures related to its marketable securities from the implementation of ASC 326.

In accordance with ASC 326, the Company evaluated its receivable balances for credit risk based upon the source of revenue, its ability to collect fees directly from investment products or directly from assets in the client's account, a review of actual historical credit losses, and the potential for expected credit loss from its current client base. The Company has no meaningful historical credit loss data and a very limited amount of losses pertaining directly to a client's inability to satisfy its receivable balance even during periods of economic distress. The credit loss reserve recognized by the Company through the implementation of ASC 326 during the six months ended June 30, 2020 was immaterial.

The Company also adopted the requirements of ASU 2017-04, Simplifying the Test for Goodwill Impairment (ASU 2017-04) on January 1, 2020. The adoption of ASU 2017-04 did not have a material impact on the Company's consolidated financial statements and related disclosures.

With the exception of the adoption of ASC 326 and ASU 2017-04, there have been no other significant changes in significant accounting policies during the six months ended June 30, 2020 as compared to the significant accounting policies described in the Company's Annual Report on Form 10-K for the year ended December 31, 2019.

Variable Interest Entities

The Company or its affiliates have created numerous investment products for its clients in various types of legal entity structures. The Company serves as the Manager, Administrator and Distributor for these investment products and may also serve as the Trustee for some of the investment products. The Company receives asset management, distribution, administration and custodial fees for these services. Clients are the equity investors and participate in proportion to their ownership percentage in the net income or loss and net capital gains or losses of the products, and, on liquidation, will participate in proportion to their ownership percentage in the remaining net assets of the products after satisfaction of outstanding liabilities.

The Company has concluded that it is not the primary beneficiary of the entities and, therefore, is not required to consolidate any of the pooled investment vehicles for which it receives asset management, distribution, administration and custodial fees under the VIE model. The entities either do not meet the definition of a VIE or the Company does not hold a variable interest in the entities. The entities either qualify for the money market scope exception, or are entities in which the Company’s asset management, distribution, administration and custodial fees are commensurate with the services provided and include fair terms and conditions, or are entities that are limited partnerships which have substantive kick-out rights. The Company acts as a fiduciary and does not hold any other interests other than insignificant seed money investments in the pooled investment vehicles. For this reason, the Company also concluded that it is not required to consolidate the pooled investment vehicles under the voting interest entity model.

The Company is a party to expense limitation agreements with certain SEI-sponsored money market funds subject to Rule 2a-7 of the Investment Company Act of 1940 which establish a maximum level of ordinary operating expenses incurred by the fund in any fiscal year including, but not limited to, fees of the administrator or its affiliates. Under the terms of these agreements, the Company waived $9,714 and $6,796 in fees during the three months ended June 30, 2020 and 2019, respectively. During the six months ended June 30, 2020 and 2019, the Company waived $16,355 and $14,701, respectively, in fees.

Revenue Recognition

Revenue is recognized when the transfer of control of promised goods or services under the terms of a contract with customers are satisfied in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those promised goods or services. Certain portions of the Company’s revenues involve a third party in providing goods or services to its customers. In such circumstances, the Company must determine whether the nature of its promise to the customer is to provide the underlying goods or services (the Company is the principal in the transaction and reports the transaction gross) or to arrange for a third party to provide the underlying goods or services (the entity is the agent in the transaction and reports the transaction net). See Note 13 for related disclosures regarding revenue recognition.

Cash and Cash Equivalents

Cash and cash equivalents includes $335,676 and $414,581 at June 30, 2020 and December 31, 2019, respectively, primarily invested in SEI-sponsored open-ended money market mutual funds.

Restricted Cash

Restricted cash includes $3,000 at June 30, 2020 and December 31, 2019 segregated for regulatory purposes related to trade-execution services conducted by SEI Investments (Europe) Limited. Restricted cash also includes $101 at June 30, 2020 and December 31, 2019 segregated in special reserve accounts for the benefit of customers of the Company’s broker-dealer subsidiary, SEI Investments Distribution Co. (SIDCO), in accordance with certain rules established by the Securities and Exchange Commission (SEC) for broker-dealers.

Capitalized Software

The Company capitalized $12,533 and $19,188 of software development costs during the six months ended June 30, 2020 and 2019, respectively. The Company's software development costs primarily relate to significant enhancements to the SEI Wealth Platform^SM(SWP). The Company capitalized $11,785 and $18,693 of software development costs for significant enhancements to SWP during the six months ended June 30, 2020 and 2019, respectively. As of June 30, 2020, the net book value of SWP was $269,582. The net book value includes $60,504 of capitalized software development costs in-progress associated with future releases of SWP. Capitalized software development costs in-progress associated with future releases of SWP were $55,332 as of December 31, 2019. SWP has a weighted average remaining life of 8.4 years. Amortization expense for SWP was $21,656 and $20,900 during the six months ended June 30, 2020 and 2019, respectively.

Earnings per Share

The calculations of basic and diluted earnings per share for the three and six months ended June 30, 2020 and 2019 are:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Net income	$	101,066	$	126,540	$	210,308	$	240,521
Shares used to compute basic earnings per common share	147,478,000		151,863,000		148,473,000		152,587,000
Dilutive effect of stock options	2,120,000		3,302,000		2,510,000		3,266,000
Shares used to compute diluted earnings per common share	149,598,000		155,165,000		150,983,000		155,853,000
Basic earnings per common share	$	0.69	$	0.83	$	1.42	$	1.58
Diluted earnings per common share	$	0.68	$	0.82	$	1.39	$	1.54

During the three months ended June 30, 2020 and 2019, employee stock options to purchase 8,154,000 and 6,244,000 shares of common stock with an average exercise price of $58.26 and $54.79, respectively, were outstanding but not included in the computation of diluted earnings per common share. During the six months ended June 30, 2020 and 2019, employee stock options to purchase 7,781,000 and 6,284,000 shares of common stock with an average exercise price of $58.50 and $54.80, respectively, were outstanding but not included in the computation of diluted earnings per common share. These options for the three and six month periods were not included in the computation of diluted earnings per common share because either the performance conditions have not been satisfied or would not have been satisfied if the reporting date was the end of the contingency period or the options' exercise price was greater than the average market price of the Company’s common stock and the effect on diluted earnings per common share would have been anti-dilutive.

New Accounting Pronouncements

In December 2019, the Financial Accounting Standards Board (FASB) issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (ASU 2019-12). The standard removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for the Company beginning in the first quarter of 2021. The Company is currently evaluating the impact of adopting ASU 2019-12 on its consolidated financial statements and related disclosures.

Reclassifications

Certain prior year amounts have been reclassified to conform to current year presentation.

Statements of Cash Flows

For purposes of the Consolidated Statements of Cash Flows, the Company considers investment instruments purchased with an original maturity of three months or less to be cash equivalents.

The following table provides the details of the adjustments to reconcile net income to net cash provided by operating activities for the six months ended June 30:


	2020		2019
Net income	$	210,308	$	240,521
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	15,113		14,753
Amortization	26,217		25,460
Equity in earnings of unconsolidated affiliate	(58,183)		(75,149)
Distributions received from unconsolidated affiliate	84,502		77,288
Stock-based compensation	13,991		10,102
Provision for losses on receivables	(122)		383
Deferred income tax expense	(5,459)		(2,050)
Net loss (gain) from investments	2,086		(1,510)

Change in other long-term liabilities	(1,448)		1,129
Change in other assets	(6,135)		249
Contract costs capitalized, net of amortization	(2,117)		(1,125)
Other	(1,217)		122
Change in current assets and liabilities
(Increase) decrease in
Receivables from investment products	4,292		(2,538)
Receivables	(11,134)		(20,192)
Other current assets	(2,716)		3,708
(Decrease) increase in
Accounts payable	6,357		(5,426)
Accrued liabilities	(9,367)		(47,631)
Deferred revenue	(836)		(449)
Total adjustments	53,824		(22,876)
Net cash provided by operating activities	$	264,132	$	217,645

Investment In Unconsolidated Affiliate

6 Months Ended

Jun. 30, 2020

Equity Method Investments and Joint Ventures [Abstract]

Investment In Unconsolidated Affiliate

Investment in Unconsolidated Affiliate

LSV Asset Management

The Company has an investment in LSV Asset Management (LSV), a registered investment advisor that provides investment advisory services primarily to institutions, including pension plans and investment companies. LSV is currently an investment sub-advisor for a limited number of SEI-sponsored investment products. The Company's partnership interest in LSV as of June 30, 2020 was 38.8%. The Company accounts for its interest in LSV using the equity method because of its less than 50% ownership. The Company’s interest in the net assets of LSV is reflected in Investment in unconsolidated affiliate on the accompanying Consolidated Balance Sheets and its interest in the earnings of LSV is reflected in Equity in earnings of unconsolidated affiliate on the accompanying Consolidated Statements of Operations.

At June 30, 2020, the Company’s total investment in LSV was $41,094. The Company receives partnership distributions from LSV on a quarterly basis. The Company received partnership distributions from LSV of $84,502 and $77,288 in the six months ended June 30, 2020 and 2019, respectively. As such, the Company considers these distribution payments as returns on investment rather than returns of the Company's original investment in LSV and has therefore classified the associated cash inflows as an operating activity on the Consolidated Statements of Cash Flows.

The Company’s proportionate share in the earnings of LSV was $28,276 and $37,832 during the three months ended June 30, 2020 and 2019, respectively. During the six months ended June 30, 2020 and 2019, the Company's proportionate share in the earnings of LSV was $58,183 and $75,149, respectively.

These tables contain condensed financial information of LSV:


Condensed Statement of Operations	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Revenues	$	94,648	$	123,017	$	194,644	$	243,932
Net income	72,847		97,271		149,744		193,219


Condensed Balance Sheets	June 30, 2020		December 31, 2019
Current assets	$	114,909	$	144,547
Non-current assets	4,625		5,048
Total assets	$	119,534	$	149,595

Current liabilities	$	55,851	$	46,828
Non-current liabilities	4,980		5,326
Partners’ capital	58,703		97,441
Total liabilities and partners’ capital	$	119,534	$	149,595

On April 1, 2020, LSV provided an interest in the partnership to select key employees which reduced the ownership percentage of each existing partner on a pro-rata basis. As a result, the Company's total partnership interest in LSV was reduced slightly to approximately 38.8% from approximately 38.9%.

Composition of Certain Financial Statement Captions

6 Months Ended

Jun. 30, 2020

Items Included in Consolidated Statement of Financial Condition [Abstract]

Composition of Certain Financial Statement Captions

Receivables

Receivables on the accompanying Consolidated Balance Sheets consist of:


	June 30, 2020		December 31, 2019
Trade receivables	$	89,183	$	86,043
Fees earned, not billed	252,541		240,239
Other receivables	10,969		15,277
	352,693		341,559
Less: Allowance for doubtful accounts	(1,079)		(1,201)
	$	351,614	$	340,358

Fees earned, not billed represents receivables from contracts with customers earned but unbilled and results from timing differences between services provided and contractual billing schedules. These billing schedules generally provide for fees to be billed on a quarterly basis. In addition, certain fees earned from investment operations services are calculated based on assets under administration that have an extended valuation process. Billings to these clients occur once the asset valuation processes are completed.

Receivables from investment products on the accompanying Consolidated Balance Sheets primarily represent fees receivable for distribution, investment advisory, and administration services to various regulated investment companies and other investment products sponsored by SEI.

Property and Equipment

Property and Equipment on the accompanying Consolidated Balance Sheets consists of:


	June 30, 2020		December 31, 2019
Buildings	$	162,999	$	162,882
Equipment	137,698		123,945
Land	10,830		10,830
Purchased software	145,816		143,705
Furniture and fixtures	20,032		18,835
Leasehold improvements	20,109		20,700
Construction in progress	52,466		33,415
	549,950		514,312
Less: Accumulated depreciation	(367,677)		(353,453)
Property and Equipment, net	$	182,273	$	160,859

The Company recognized $15,113 and $14,753 in depreciation expense related to property and equipment for the six months ended June 30, 2020 and 2019, respectively.

Deferred Contract Costs

Deferred contract costs, which primarily consist of deferred sales commissions, were $33,108 and $30,991 as of June 30, 2020 and December 31, 2019, respectively. The Company deferred expenses related to contract costs of $1,752 and $1,950 during the three months ended June 30, 2020 and 2019, respectively. During the six months ended June 30, 2020 and 2019, the Company deferred expenses related to contract costs of $4,749 and $3,076, respectively. Amortization expense related to deferred contract costs were $2,632 and $1,951 during the six months ended June 30, 2020 and 2019, respectively, and are included in Compensation, benefits and other personnel on the accompanying Consolidated Statements of Operations. There was no impairment loss in relation to deferred contract costs during the six months ended June 30, 2020.

Accrued Liabilities

Accrued liabilities on the accompanying Consolidated Balance Sheets consist of:


	June 30, 2020		December 31, 2019
Accrued employee compensation	$	50,858	$	96,991

Accrued consulting, outsourcing and professional fees	35,750		28,610
Accrued sub-advisory, distribution and other asset management fees	47,797		46,245

Accrued dividend payable	—		52,452
Accrued income taxes	24,739		2,010
Other accrued liabilities	51,567		46,493
Total accrued liabilities	$	210,711	$	272,801

Fair Value Measurements

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

The fair value of the Company’s financial assets and liabilities, except for the Company's investment funds sponsored by LSV, is determined in accordance with the fair value hierarchy. The fair value of the Company’s Level 1 financial assets consist mainly of investments in open-ended mutual funds that are quoted daily. Level 2 financial assets consist of GNMA mortgage-backed securities held by the Company's wholly-owned limited purpose federal thrift subsidiary, SEI Private Trust Company (SPTC), Federal Home Loan Bank (FHLB) and other U.S. government agency short-term notes held by SIDCO. The financial assets held by SIDCO were purchased as part of a cash management program requiring only short term, top-tier investment grade government and corporate securities. The financial assets held by SPTC are debt securities issued by GNMA and are backed by the full faith and credit of the U.S. government. These securities were purchased for the sole purpose of satisfying applicable regulatory requirements and have maturity dates which range from 2023 to 2041.

The fair value of the Company's investment funds sponsored by LSV is measured using the net asset value per share (NAV) as a practical expedient. The NAVs of the funds are calculated by the funds' independent custodian and are derived

from the fair values of the underlying investments as of the reporting date. The funds allow for investor redemptions at the end of each calendar month. This investment has not been classified in the fair value hierarchy but is presented in the tables below to permit reconciliation to the amounts presented on the accompanying Consolidated Balance Sheets.

The valuation of the Company's Level 2 financial assets held by SIDCO and SPTC are based upon securities pricing policies and procedures utilized by third-party pricing vendors.

The pricing policies and procedures applied for our Level 1 and Level 2 financial assets during the six months ended June 30, 2020 were consistent with those as described in our Annual Report on Form 10-K at December 31, 2019. The Company had no Level 3 financial assets at June 30, 2020 or December 31, 2019 that were required to be measured at fair value on a recurring basis. The Company's Level 3 financial liabilities at June 30, 2020 and December 31, 2019 consist entirely of the estimated contingent consideration resulting from an acquisition (See Note 12). The fair value of the contingent consideration was determined using a Monte-Carlo simulation model. Key assumptions for the Monte-Carlo simulation model include expected revenues, expected volatility, risk-free rate and other factors. There were no transfers of financial assets between levels within the fair value hierarchy during the six months ended June 30, 2020.

The fair value of certain financial assets of the Company was determined using the following inputs:


			Fair Value Measurements at the End of the Reporting Period Using
Assets	June 30, 2020		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
Equity securities	$	11,194	$	11,194	$	—
Available-for-sale debt securities	94,167		—		94,167
Fixed-income securities owned	35,030		—		35,030
Investment funds sponsored by LSV (1)	4,749
	$	145,140	$	11,194	$	129,197


			Fair Value Measurements at the End of the Reporting Period Using
Assets	December 31, 2019		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
Equity securities	$	12,119	$	12,119	$	—
Available-for-sale debt securities	104,798		—		104,798
Fixed-income securities owned	33,486		—		33,486
Investment funds sponsored by LSV (1)	5,988
	$	156,391	$	12,119	$	138,284

(1) The fair value amounts presented in the tables above are intended to permit reconciliation of the fair value hierarchy to the amounts presented on the accompanying Consolidated Balance Sheets (See Note 5).

Marketable Securities

6 Months Ended

Jun. 30, 2020

Marketable Securities [Abstract]

Marketable Securities

The Company's marketable securities include investments in money market funds and commercial paper classified as cash equivalents, available-for-sale debt securities, investments in SEI-sponsored and non-SEI-sponsored mutual funds, equities, investments in funds sponsored by LSV and securities owned by SIDCO.

Cash Equivalents

The Company's investments in money market funds and commercial paper classified as cash equivalents had a fair value of $445,941 and $543,765 at June 30, 2020 and December 31, 2019, respectively. There were no material unrealized or realized gains or losses from these investments during the six months ended June 30, 2020 and 2019. The Company's investments in money market funds and commercial paper are Level 1 assets.

Available for Sale and Equity Securities

Available For Sale and Equity Securities on the accompanying Consolidated Balance Sheets consist of:


	At June 30, 2020
	Cost Amount		Gross Unrealized Gains		Gross Unrealized (Losses)		Fair Value
Available-for-sale debt securities	$	91,666	$	2,501	$	—	$	94,167
SEI-sponsored mutual funds	7,514		72		(594)		6,992
Equities and other mutual funds	3,600		602		—		4,202
	$	102,780	$	3,175	$	(594)	$	105,361


	At December 31, 2019
	Cost Amount		Gross Unrealized Gains		Gross Unrealized (Losses)		Fair Value
Available-for-sale debt securities	$	104,193	$	605	$	—	$	104,798
SEI-sponsored mutual funds	7,564		125		(39)		7,650
Equities and other mutual funds	3,637		832		—		4,469
	$	115,394	$	1,562	$	(39)	$	116,917

Net unrealized gains at June 30, 2020 of the Company's available-for-sale debt securities were $1,926 (net of income tax expense of $575). Net unrealized gains at December 31, 2019 of the Company's available-for-sale debt securities were $465 (net of income tax expense of $140). These net unrealized gains are reported as a separate component of Accumulated other comprehensive loss on the accompanying Consolidated Balance Sheets.

There were gross realized losses of $280 and $227 from available-for-sale debt securities during the six months ended June 30, 2020 and 2019, respectively. There were no gross realized gains from available-for-sale debt securities during the six months ended June 30, 2020 and 2019. Realized losses from available-for-sale debt securities, including amounts reclassified from accumulated comprehensive loss, are reflected in Net gain (loss) from investments on the accompanying Consolidated Statements of Operations.

There were gross realized gains of $196 and gross realized losses of $240 from mutual funds and equities during the six months ended June 30, 2020. During the six months ended June 30, 2019, there were gross realized gains of $56 and gross realized losses of $238 from mutual funds and equities. Gains and losses from mutual funds and equities are reflected in Net gain (loss) from investments on the accompanying Consolidated Statements of Operations.

Investments in Affiliated Funds

The Company has an investment in funds sponsored by LSV. The Company records this investment on the accompanying Consolidated Balance Sheets at fair value. Unrealized gains and losses from the change in fair value of these funds are recognized in Net gain (loss) from investments on the accompanying Consolidated Statements of Operations.

The investment primarily consists of U.S. dollar denominated funds that invest primarily in securities of Canadian, Australian and Japanese companies as well as various other global securities. The underlying securities held by the funds are translated into U.S. dollars within the funds. The funds had a fair value of $4,749 and $5,988 at June 30, 2020 and December 31, 2019, respectively. The Company recognized unrealized gains of $996 and $95 during the three months ended June 30, 2020 and 2019, respectively, from the change in fair value of the funds. The Company recognized unrealized losses of $1,239 and unrealized gains of $547 during the six months ended June 30, 2020 and 2019, respectively, from the change in fair value of the funds.

Securities Owned

The Company’s broker-dealer subsidiary, SIDCO, has investments in U.S. government agency securities with maturity dates less than one year. These investments are reflected as Securities owned on the accompanying Consolidated Balance Sheets. Due to specialized accounting practices applicable to investments by broker-dealers, the securities are reported at fair value and changes in fair value are recorded in current period earnings. The securities had a fair value of $35,030 and $33,486 at June 30, 2020 and December 31, 2019, respectively. There were no material net gains or losses related to the securities during the three and six months ended June 30, 2020 and 2019.

Line of Credit	6 Months Ended
Line of Credit	Jun. 30, 2020
Line of Credit Facility [Abstract]
Line of Credit	Line of Credit The Company has a five-year $300,000 Credit Agreement (the Credit Facility) with Wells Fargo Bank, National Association, and a syndicate of other lenders. The Credit Facility is scheduled to expire in June 2021, at which time any aggregate principal amount of loans outstanding becomes payable in full. Any borrowings made under the Credit Facility will accrue interest at rates that, at the Company's option, are based on a base rate (the Base Rate) plus a premium that can range from 0.25% to 1.00% or the London InterBank Offered Rate (LIBOR) plus a premium that can range from 1.25% to 2.00% depending on the Company’s Leverage Ratio (a ratio of consolidated indebtedness to consolidated EBITDA for the four preceding fiscal quarters, all as defined in the related agreement). The Base Rate is defined as the highest of a) the Federal Funds Rate, as published by the Federal Reserve Bank of New York, plus 0.50%, b) the prime commercial lending rate of Wells Fargo, c) the applicable LIBOR plus 1.00%, or d) 0%. The Company also pays quarterly commitment fees based on the unused portion of the Credit Facility. The quarterly fees for the Credit Facility can range from 0.15% of the amount of the unused portion to 0.30%, depending on the Company’s Leverage Ratio. Certain wholly-owned subsidiaries of the Company have guaranteed the obligations of the Company under the agreement. The aggregate amount of the Credit Facility may be increased by an additional $100,000 under certain conditions set forth in the agreement. The Company may issue up to $15,000 in letters of credit under the terms of the Credit Facility. The Company pays a periodic commission fee of 1.25% plus a fronting fee of 0.175% of the aggregate face amount of the outstanding letters of credit issued under the Credit Facility. The Credit Facility contains covenants that restrict the ability of the Company to engage in mergers, consolidations, asset sales, investments, transactions with affiliates other than wholly-owned subsidiaries, or to incur liens or other indebtedness including contingent obligations or guarantees, as defined in the agreement. In the event of a default under the Credit Facility, the Company would also be restricted from paying dividends on, or repurchasing its common stock without the approval of the lenders. Upon the occurrence of certain financial or economic events, significant corporate events, or certain other events of default constituting an event of default under the Credit Facility, all loans outstanding may be declared immediately due and payable and all commitments under the agreement may be terminated. As of June 30, 2020, the Company had outstanding letters of credit of $11,553 under the Credit Facility. These letters of credit were issued primarily for the expansion of the Company's headquarters and are scheduled to expire during the remainder of 2020. The amount of the Credit Facility that is available for general corporate purposes as of June 30, 2020 was $288,447. The Company was in compliance with all covenants of the Credit Facility during the six months ended June 30, 2020.

Shareholders' Equity

6 Months Ended

Jun. 30, 2020

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

Stock-Based Compensation

The Company has only non-qualified stock options outstanding under its equity compensation plans. All outstanding stock options have performance-based vesting provisions specific to each option grant that tie the vesting of the applicable stock options to the Company’s financial performance. The Company’s stock options vest at a rate of 50% when a specified financial vesting target is achieved, and the remaining 50% when a second, higher specified financial vesting target is achieved. Options do not vest due to the passage of time but solely as a result of achievement of the financial vesting targets. Options granted in December 2017 and thereafter include a service condition which requires a minimum two or four year waiting period from the grant date along with the attainment of the applicable financial vesting target. The targets are measured annually on December 31. The amount of stock-based compensation expense recognized in the period is based upon management’s estimate of when the financial vesting targets may be achieved. Any change in management’s estimate could result in the remaining amount of stock-based compensation expense to be accelerated, spread out over a longer period, or reversed. This may cause volatility in the recognition of stock-based compensation expense in future periods and could materially affect the Company’s earnings.

The Company recognized stock-based compensation expense in its Consolidated Financial Statements in the three and six months ended June 30, 2020 and 2019, respectively, as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Stock-based compensation expense	$	7,062	$	5,064	$	13,991	$	10,102
Less: Deferred tax benefit	(1,318)		(971)		(2,703)		(1,917)
Stock-based compensation expense, net of tax	$	5,744	$	4,093	$	11,288	$	8,185

As of June 30, 2020, there was approximately $59,935 of unrecognized compensation cost remaining related to unvested employee stock options that management expects will vest and is being amortized.

The Company issues new common shares associated with the exercise of stock options. The total intrinsic value of options exercised during the six months ended June 30, 2020 was $22,672. The total options exercisable as of June 30, 2020 had an intrinsic value of $127,233. The total intrinsic value for options exercisable is calculated as the difference between the market value of the Company’s common stock as of June 30, 2020 and the weighted average exercise price of the options. The market value of the Company’s common stock as of June 30, 2020 was $54.98 as reported by the Nasdaq Stock Market, LLC. The weighted average exercise price of the options exercisable as of June 30, 2020 was $37.98. Total options that were outstanding as of June 30, 2020 were 14,931,000. Total options that were exercisable as of June 30, 2020 were 7,483,000.

Common Stock Buyback

The Company’s Board of Directors, under multiple authorizations, has authorized the repurchase of the Company’s common stock on the open market or through private transactions. The Company purchased 4,075,000 shares at a total cost of $216,902 during the six months ended June 30, 2020, which reduced the total shares outstanding of common stock. The cost of stock purchases during the period includes the cost of certain transactions that settled in the following quarter. As of June 30, 2020, the Company had approximately $150,627 of authorization remaining for the purchase of common stock under the program.

The Company immediately retires its common stock when purchased. Upon retirement, the Company reduces Capital in excess of par value for the average capital per share outstanding and the remainder is charged against Retained earnings. If the Company reduces its Retained earnings to zero, any subsequent purchases of common stock will be charged entirely to Capital in excess of par value.

Cash Dividend

On June 3, 2020, the Board of Directors declared a cash dividend of $0.35 per share on the Company's common stock, which was paid on June 23, 2020, to shareholders of record on June 15, 2020. Cash dividends declared during the six months ended June 30, 2020 and 2019 were $51,462 and $49,984, respectively.

Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2020

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Loss

The components of Accumulated other comprehensive loss, net of tax, are as follows:


	Foreign Currency Translation Adjustments		Unrealized Gains (Losses) on Investments		Accumulated Other Comprehensive Loss
Balance, January 1, 2020	$	(23,969)	$	465	$	(23,504)

Other comprehensive loss before reclassifications	(12,136)		1,244		(10,892)
Amounts reclassified from accumulated other comprehensive loss	—		217		217
Net current-period other comprehensive loss	(12,136)		1,461		(10,675)

Balance, June 30, 2020	$	(36,105)	$	1,926	$	(34,179)

Business Segment Information

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Business Segment Information

The Company’s reportable business segments are:

Private Banks – provides outsourced investment processing and investment management platforms to banks and trust institutions, independent wealth advisers and financial advisors worldwide;

Investment Advisors – provides investment management and investment processing platforms to affluent investors through a network of independent registered investment advisors, financial planners and other investment professionals in the United States;

Institutional Investors – provides investment management and administrative outsourcing platforms to retirement plan sponsors, healthcare systems, higher education and other not-for-profit organizations worldwide;

Investment Managers – provides investment operations outsourcing platforms to fund companies, banking institutions, traditional and non-traditional investment managers worldwide and family offices in the United States; and

Investments in New Businesses – focuses on providing investment management solutions to ultra-high-net-worth families residing in the United States; developing internet-based investment services; developing network and data protection services; modularizing larger technology platforms into stand-alone components; entering new markets; and conducting other research and development activities.

The information in the following tables is derived from the Company’s internal financial reporting used for corporate management purposes. There are no inter-segment revenues for the three and six months ended June 30, 2020 and 2019. Management evaluates Company assets on a consolidated basis during interim periods. The accounting policies of the reportable business segments are the same as those described in Note 1 to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019.

The following tables highlight certain financial information about each of the Company’s business segments for the three months ended June 30, 2020 and 2019:


	Private Banks		Investment Advisors		Institutional Investors		Investment Managers		Investments In New Businesses		Total
	For the Three Months Ended June 30, 2020
Revenues	$	107,726	$	93,708	$	76,523	$	119,340	$	3,349	$	400,646
Expenses	107,723		50,149		36,937		74,668		13,466		282,943
Operating profit (loss)	$	3	$	43,559	$	39,586	$	44,672	$	(10,117)	$	117,703


	Private Banks		Investment Advisors		Institutional Investors		Investment Managers		Investments In New Businesses		Total
	For the Three Months Ended June 30, 2019
Revenues	$	116,092	$	100,122	$	81,109	$	109,202	$	3,061	$	409,586
Expenses	107,790		50,558		39,361		68,371		6,797		272,877
Operating profit (loss)	$	8,302	$	49,564	$	41,748	$	40,831	$	(3,736)	$	136,709

A reconciliation of the total operating profit reported for the business segments to income from operations in the Consolidated Statements of Operations for the three months ended June 30, 2020 and 2019 is as follows:


	2020		2019
Total operating profit from segments	$	117,703	$	136,709
Corporate overhead expenses	(17,391)		(16,573)
Income from operations	$	100,312	$	120,136

The following tables provide additional information for the three months ended June 30, 2020 and 2019 pertaining to our business segments:


	Capital Expenditures (1)						Depreciation
	2020		2019		2020		2019
Private Banks	$	6,634	$	8,761	$	3,965	$	3,585
Investment Advisors	3,803		4,558		1,172		1,165
Institutional Investors	1,029		1,049		301		414
Investment Managers	7,259		4,875		1,869		1,820
Investments in New Businesses	332		344		76		110
Total from business segments	$	19,057	$	19,587	$	7,383	$	7,094
Corporate overhead	798		586		257		328
	$	19,855	$	20,173	$	7,640	$	7,422

(1) Capital expenditures include additions to property and equipment and capitalized software.


	Amortization
	2020		2019
Private Banks	$	7,464	$	7,217
Investment Advisors	2,664		2,550
Institutional Investors	427		427
Investment Managers	2,342		2,346
Investments in New Businesses	185		185
Total from business segments	$	13,082	$	12,725
Corporate overhead	58		56
	$	13,140	$	12,781

The following tables highlight certain financial information about each of the Company’s business segments for the six months ended June 30, 2020 and 2019:


	Private Banks		Investment Advisors		Institutional Investors		Investment Managers		Investments In New Businesses		Total
	For the Six Months Ended June 30, 2020
Revenues	$	220,947	$	196,029	$	155,726	$	235,969	$	6,737	$	815,408
Expenses	218,376		102,581		75,204		148,957		24,376		569,494
Operating profit (loss)	$	2,571	$	93,448	$	80,522	$	87,012	$	(17,639)	$	245,914


	Private Banks		Investment Advisors		Institutional Investors		Investment Managers		Investments In New Businesses		Total
	For the Six Months Ended June 30, 2019
Revenues	$	234,351	$	194,883	$	161,222	$	213,851	$	6,099	$	810,406
Expenses	218,752		103,060		78,115		137,437		12,737		550,101
Operating profit (loss)	$	15,599	$	91,823	$	83,107	$	76,414	$	(6,638)	$	260,305

A reconciliation of the total operating profit reported for the business segments to income from operations in the Consolidated Statements of Operations for the six months ended June 30, 2020 and 2019 is as follows:


	2020		2019
Total operating profit from segments	$	245,914	$	260,305
Corporate overhead expenses	(35,374)		(36,608)
Income from operations	$	210,540	$	223,697

The following tables provide additional information for the six months ended June 30, 2020 and 2019 pertaining to our business segments:


	Capital Expenditures (1)						Depreciation
	2020		2019		2020		2019
Private Banks	$	16,559	$	17,222	$	7,847	$	7,134
Investment Advisors	9,193		8,505		2,323		2,344
Institutional Investors	2,387		1,920		603		819
Investment Managers	16,291		8,224		3,681		3,591
Investments in New Businesses	750		585		146		201
Total from business segments	$	45,180	$	36,456	$	14,600	$	14,089
Corporate Overhead	1,795		971		513		664
	$	46,975	$	37,427	$	15,113	$	14,753

(1) Capital expenditures include additions to property and equipment and capitalized software.


	Amortization
	2020		2019
Private Banks	$	14,885	$	14,358
Investment Advisors	5,316		5,073
Institutional Investors	854		860
Investment Managers	4,677		4,685
Investments in New Businesses	370		370
Total from business segments	$	26,102	$	25,346
Corporate Overhead	115		114
	$	26,217	$	25,460

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 21
-Subparagraph (b)
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Income Taxes

6 Months Ended

Jun. 30, 2020

Income Tax Disclosure [Abstract]

Income Taxes

The gross liability for unrecognized tax benefits at June 30, 2020 and December 31, 2019 was $17,122 and $15,356, respectively, exclusive of interest and penalties, of which $17,097 and $15,194 would affect the effective tax rate if the Company were to recognize the tax benefit.

The Company classifies interest and penalties on unrecognized tax benefits as income tax expense. As of June 30, 2020 and December 31, 2019, the combined amount of accrued interest and penalties related to tax positions taken on tax returns was $2,387 and $1,962, respectively.


	June 30, 2020		December 31, 2019
Gross liability for unrecognized tax benefits, exclusive of interest and penalties	$	17,122	$	15,356
Interest and penalties on unrecognized benefits	2,387		1,962
Total gross uncertain tax positions	$	19,509	$	17,318
Amount included in Current liabilities	$	4,950	$	4,896
Amount included in Other long-term liabilities	14,559		12,422
	$	19,509	$	17,318

The Company's effective income tax rate for the three and six months ended June 30, 2020 and 2019 differs from the federal income tax statutory rate due to the following:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Statutory rate	21.0	%	21.0	%	21.0	%	21.0	%
State taxes, net of federal tax benefit	3.3		2.6		3.2		2.6
Foreign tax expense and tax rate differential	(0.2)		(0.1)		(0.1)		(0.1)
Tax benefit from stock option exercises	(0.4)		(1.1)		(1.3)		(1.1)


Other, net	(0.4)		(0.3)		(0.4)		(0.3)
	23.3	%	22.1	%	22.4	%	22.1	%

The increase in the Company's effective tax rate for the three months ended June 30, 2020 was primarily due to decreased tax benefits related to the lower volume of stock option exercises as compared to the three months ended June 30, 2019 as well as an increase in the state effective tax rate.

The Company files income tax returns in the United States on a consolidated basis and in many U.S. state and foreign jurisdictions. The Company is subject to examination of income tax returns by the Internal Revenue Service (IRS) and other domestic and foreign tax authorities. The Company is no longer subject to U.S. federal income tax examination for years before 2016 and is no longer subject to state, local or foreign income tax examinations by authorities for years before 2015.

The Company estimates it will recognize $4,950 of gross unrecognized tax benefits. This amount is expected to be paid within one year or to be removed at the expiration of the statute of limitations and resolution of income tax audits and is netted against the current payable account. These unrecognized tax benefits are related to tax positions taken on certain federal, state, and foreign tax returns. However, the timing of the resolution of income tax examinations is highly uncertain, and the amounts ultimately paid, if any, upon resolution of the issues raised by the taxing authorities may differ materially from the amounts accrued for each year. While it is reasonably possible that some issues under examination could be resolved in the next twelve months, based upon the current facts and circumstances, the Company cannot reasonably estimate the timing of such resolution or the total range of potential changes as it relates to the current unrecognized tax benefits that are recorded as part of the Company’s financial statements.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In the ordinary course of business, the Company from time to time enters into contracts containing indemnification obligations of the Company. These obligations may require the Company to make payments to another party upon the occurrence of certain events including the failure by the Company to meet its performance obligations under the contract. These contractual indemnification provisions are often standard contractual terms of the nature customarily found in the type of contracts entered into by the Company. In many cases, there are no stated or notional amounts included in the indemnification provisions. There are no amounts reflected on the Consolidated Balance Sheets as of June 30, 2020 and December 31, 2019 related to these indemnifications. Stanford Trust Company Litigation SEI has been named in seven lawsuits filed in Louisiana courts; four of the cases also name SPTC as a defendant. The underlying allegations in all actions relate to the purported role of SPTC in providing back-office services to Stanford Trust Company. The complaints allege that SEI and SPTC participated in some manner in the sale of “certificates of deposit” issued by Stanford International Bank so as to be a “seller” of the certificates of deposit for purposes of primary liability under the Louisiana Securities Law or so as to be secondarily liable under that statute for sales of certificates of deposit made by Stanford Trust Company. Two of the actions also include claims for violations of the Louisiana Racketeering Act and possibly conspiracy, and a third also asserts claims of negligence, breach of contract, breach of fiduciary duty, violations of the uniform fiduciaries law, negligent misrepresentation, detrimental reliance, violations of the Louisiana Racketeering Act, and conspiracy. The procedural status of the seven cases varies. The Lillie case, filed originally in the 19th Judicial District Court for the Parish of East Baton Rouge, was brought as a class action and is procedurally the most advanced of the cases. SEI and SPTC filed exceptions, which the Court granted in part, dismissing claims under the Louisiana Unfair Trade Practices Act and permitting the claims under the Louisiana Securities Law to go forward. On March 11, 2013, newly-added insurance carrier defendants removed the case to the United States District Court for the Middle District of Louisiana. On August 7, 2013, the Judicial Panel on Multidistrict Litigation transferred the matter to the Northern District of Texas where MDL 2099, In re: Stanford Entities Securities Litigation (“the Stanford MDL”), is pending. On September 22, 2015, the District Court on the motion of SEI and SPTC dismissed plaintiffs’ claims for primary liability under Section 714(A) of the Louisiana Securities Law, but declined to dismiss plaintiffs’ claims for secondary liability under Section 714(B) of the Louisiana Securities Law based on the allegations pled by plaintiffs. On November 4, 2015, the District Court granted SEI and SPTC's motion to dismiss plaintiffs' claims under Section 712(D) of the Louisiana Securities Law. Consequently, the only claims of plaintiffs remaining in Lillie are plaintiffs' claims for secondary liability against SEI and SPTC under Section 714(B) of the Louisiana Securities Law. On May 2, 2016, the District Court certified the class as being "all persons for whom Stanford Trust Company purchased or renewed Stanford Investment Bank Limited certificates of deposit in Louisiana between January 1, 2007 and February 13, 2009". Notice of the pendency of the class action was mailed to potential class members on October 4, 2016. On December 1, 2016, a group of plaintiffs who opted out of the Lillie class filed a complaint against SEI and SPTC in the United States District Court in the Middle District of Louisiana (“Ahders Complaint”), alleging claims essentially the same as those in Lillie. In January 2017, the Judicial Panel on Multidistrict Litigation transferred the Ahders proceeding to the Northern District of Texas and the Stanford MDL. During February 2017, SEI and SPTC filed their response to the Ahders Complaint, and in March 2017 the District Court for the Northern District of Texas approved the stipulated dismissal of all claims in this Complaint predicated on Section 712(D) or Section 714(A) of the Louisiana Securities Law. In both cases, as a result of the proceedings in the Northern District of Texas, only the plaintiffs’ secondary liability claims under Section 714(B) of the Louisiana Securities Law remain. Limited discovery and motions practice have occurred, including SEI and SPTC’s filing of a dispositive summary judgment motion in the Lillie proceeding. On January 31, 2019, the Judicial Panel on Multidistrict Litigation remanded the Lillie and Ahders proceedings to the Middle District of Louisiana. With respect to the Lillie proceeding, on July 9, 2019, the District Court issued an order granting SEI’s Summary Judgment Motion to dismiss the remaining Section 714(B) claim and denying Plaintiffs’ Motion for Continuance of SEI and SPTC’s Motion for Summary Judgment pursuant to Rule 56(d). On July 17, 2019, Plaintiffs filed a Motion for Reconsideration and/or New Trial. The Court denied Plaintiffs’ Motion for Reconsideration and/or New Trial and entered a Final Judgment in favor of SEI and SPTC on August 15, 2019. On August 27, 2019, Plaintiffs-Appellants filed a Notice of Appeal to the United States Court of Appeals for the Fifth Circuit of the District Court's dismissal of the Lillie matter. On November 20, 2019, Plaintiffs-Appellants filed a Motion in Support of the Notice of Appeal. On January 17, 2020, SEI and SPTC timely filed their brief in opposition to the Plaintiffs-Appellants' motion for appeal. On February 7, 2020, Plaintiffs- Appellants filed their reply brief. The parties are currently waiting for oral argument to be scheduled. With respect to the Ahders proceeding, on July 16, 2019, SEI and SPTC filed a Motion for Summary Judgment pursuant to Rule 56(d) to have the remaining Section 714(B) claim dismissed. On January 24, 2020, the District Court issued an order granting SEI’s Summary Judgment Motion to dismiss the remaining Section 714(B) claim. On March 17, 2020, Plaintiffs-Appellants filed a Notice of Appeal to the United States Court of Appeals for the Fifth Circuit of the District Court's dismissal of the Ahders matter. Similar to the Lillie matter, all motions and briefs in support of the parties’ positions have been filed and the parties are currently waiting for oral argument to be scheduled. Another case, filed in the 23rd Judicial District Court for the Parish of Ascension, also was removed to federal court and transferred by the Judicial Panel on Multidistrict Litigation to the Northern District of Texas and the Stanford MDL. The schedule for responding to that Complaint has not yet been established. Two additional cases remain in the Parish of East Baton Rouge. Plaintiffs filed petitions in 2010 and have granted SEI and SPTC indefinite extensions to respond. No material activity has taken place since. In two additional cases, filed in East Baton Rouge and brought by the same counsel who filed the Lillie action, virtually all of the litigation to date has involved motions practice and appellate litigation regarding the existence of federal subject matter jurisdiction under the federal Securities Litigation Uniform Standards Act (SLUSA). The matters were removed to the United States District Court for the Northern District of Texas and consolidated. The court then dismissed the action under SLUSA. The Court of Appeals for the Fifth Circuit reversed that order, and the Supreme Court of the United States affirmed the Court of Appeals judgment on February 26, 2014. The matters were remanded to state court and no material activity has taken place since that date. While the outcome of this litigation remains uncertain, SEI and SPTC believe that they have valid defenses to plaintiffs' claims and intend to defend the lawsuits vigorously. Because of uncertainty in the make-up of the Lillie class, the specific theories of liability that may survive a motion for summary judgment or other dispositive motion, the relative lack of discovery regarding damages, causation, mitigation and other aspects that may ultimately bear upon loss, the Company is not reasonably able to provide an estimate of loss, if any, with respect to the foregoing lawsuits. SS&C Advent Matter On February 28, 2020, SEI Global Services, Inc. ("SGSI"), a wholly-owned subsidiary of the Company, filed a complaint under seal in the United States District Court for the Eastern District of Pennsylvania against SS&C Advent ("Advent") and SS&C Technologies Holdings, Inc. ("SS&C") alleging that SS&C and Advent breached the terms of the contract between the parties and asking the Court to hold SS&C and Advent to their bargained-for obligations (the "Advent Matter"). In addition to Breach of Contract, the complaint also includes counts for Declaratory Judgment, Tortious Interference with Existing and Prospective Contractual Relations, Violation of the New York General Business Law Section 349, Violations of Section 2 of the Sherman Antitrust Act, Promissory Estoppel and Breach of the Covenant of Good Faith and Fair Dealing. SGSI seeks various forms of relief, including declaratory judgment, specific performance under the contract, and monetary damages, including treble damages and attorney’s fees. Following various procedural actions, including an amendment of the Company’s complaint to include additional breach of contract claims, SS&C and Advent filed a motion to dismiss the Company’s compliant. The oral argument regarding the motion to dismiss is currently scheduled for July 30, 2020. SEI does not believe that it will have to change providers under the current terms of its contract with SS&C or Advent and that the process of litigating its rights under this contract may be a multi-year process. Consequently, SEI does not believe that the Advent Matter will create any consequence to the services it provides to its clients in the near term. SEI believes that it has alternatives available to it that will enable it to continue to provide currently provided services to its clients in all material respects in the unlikely event that there ultimately is a negative outcome in the Advent Matter. SEI believes it has a strong basis for proving the actions it alleges in the Advent Matter and looks forward to the opportunity to assert its rights under contract. SEI expects the financial impact of litigating the Advent Matter to be immaterial. Other Matters The Company is also a party to various other actions and claims arising in the normal course of business that the Company does not believe are material. The Company believes that the ultimate resolution of these matters will not have a material adverse effect on the Company's financial position or the manner in which the Company conducts its business. Currently, the Company does not believe the amount of losses associated with these matters can be estimated. While the Company does not believe that the amount of such losses will, when liquidated or estimable, be material to its financial position, the assumptions may be incorrect and any such loss could have a material adverse effect on the Company's results of operations or the manner in which the Company conducts its business in the period(s) during which the underlying matters are resolved.

Goodwill and Intangible Assets	6 Months Ended
Goodwill and Intangible Assets	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets On April 2, 2018, the Company acquired all ownership interests of Huntington Steele, LLC (Huntington Steele). The total purchase price was allocated to Huntington Steele’s net tangible and intangible assets based upon their estimated fair values at the date of purchase. The excess purchase price over the value of the identifiable intangible assets was recorded as goodwill. The total amount of goodwill from this transaction amounted to $11,499 and is included on the accompanying Consolidated Balance Sheets. The total purchase price for Huntington Steele included a contingent purchase price payable to the sellers upon the attainment of specified financial measures determined at various intervals occurring between 2019 and 2023. The Company made payments of $433 and $633 during 2019 and the six months ended June 30, 2020, respectively, to the sellers and recorded a fair value adjustment related to the contingent consideration. As of June 30, 2020, the current portion of the contingent consideration of $3,577 is included in Accrued liabilities on the accompanying Balance Sheet. The long-term portion of the contingent consideration of $8,045 is included in Other long-term liabilities on the accompanying Balance Sheet. In July 2017, the Company acquired all ownership interests of Archway Technology Partners, LLC, Archway Finance & Operations, Inc. and Keystone Capital Holdings, LLC (collectively, Archway), a provider of operating technologies and services to the family office industry. The total purchase price was allocated to Archway’s net tangible and intangible assets based upon their estimated fair values at the date of purchase. The excess purchase price over the value of the net tangible and identifiable intangible assets was recorded as goodwill. The total amount of goodwill from this transaction amounted to $52,990 and is included on the accompanying Consolidated Balance Sheets. There were no changes to the Company's goodwill during the six months ended June 30, 2020. The Company recognized $1,842 of amortization expense related to the intangible assets acquired through the acquisitions of Huntington Steele and Archway during the six months ended June 30, 2020 and 2019.

Revenues from Contracts with Customers

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenues from Contracts with Customers

The Company’s principal sources of revenues are: (1) asset management, administration and distribution fees primarily earned based upon a contractual percentage of net assets under management or administration; and (2) information processing and software servicing fees that are either recurring and primarily earned based upon the number of trust accounts being serviced or a percentage of the total average daily market value of the clients' assets processed on the Company's platforms, or non-recurring and based upon project-oriented contractual agreements related to client implementations.

Disaggregation of Revenue

The following tables provide additional information pertaining to our revenues disaggregated by major product line and primary geographic market based on the location of the use of the products or services for each of the Company’s business segments for the three months ended June 30, 2020 and 2019:


	Private Banks		Investment Advisors		Institutional Investors		Investment Managers		Investments In New Businesses		Total
Major Product Lines:	For the Three Months Ended June 30, 2020
Investment management fees from pooled investment products	$	30,307	$	62,251	$	12,894	$	163	$	348	$	105,963
Investment management fees from investment management agreements	292		26,545		62,924		—		2,908		92,669
Investment operations fees	438		—		—		109,078		—		109,516
Investment processing fees - PaaS	44,191		—		—		—		—		44,191
Investment processing fees - SaaS	28,047		—		—		3,392		—		31,439
Professional services fees	3,157		—		—		1,384		—		4,541
Account fees and other	1,294		4,912		705		5,323		93		12,327
Total revenues	$	107,726	$	93,708	$	76,523	$	119,340	$	3,349	$	400,646

Primary Geographic Markets:
United States	$	71,607	$	93,708	$	60,414	$	111,137	$	3,349	$	340,215
United Kingdom	22,345		—		12,280		—		—		34,625
Canada	9,726		—		1,431		—		—		11,157
Ireland	4,048		—		2,265		8,203		—		14,516
Other	—		—		133		—		—		133
Total revenues	$	107,726	$	93,708	$	76,523	$	119,340	$	3,349	$	400,646


	Private Banks		Investment Advisors		Institutional Investors		Investment Managers		Investments In New Businesses		Total
Major Product Lines:	For the Three Months Ended June 30, 2019
Investment management fees from pooled investment products	$	33,451	$	70,087	$	13,799	$	184	$	325	$	117,846
Investment management fees from investment management agreements	283		25,448		67,076		—		2,713		95,520
Investment operations fees	362		—		—		99,932		—		100,294
Investment processing fees - PaaS	43,156		—		—		—		—		43,156
Investment processing fees - SaaS	34,776		—		—		2,593		—		37,369
Professional services fees	2,586		—		—		1,548		—		4,134
Account fees and other	1,478		4,587		234		4,945		23		11,267
Total revenues	$	116,092	$	100,122	$	81,109	$	109,202	$	3,061	$	409,586

Primary Geographic Markets:
United States	$	74,889	$	100,122	$	63,653	$	101,794	$	3,061	$	343,519
United Kingdom	25,695		—		13,140		—		—		38,835
Canada	10,882		—		1,708		—		—		12,590
Ireland	4,626		—		2,356		7,408		—		14,390
Other	—		—		252		—		—		252
Total revenues	$	116,092	$	100,122	$	81,109	$	109,202	$	3,061	$	409,586


	Private Banks		Investment Advisors		Institutional Investors		Investment Managers		Investments In New Businesses		Total
Major Product Lines:	For the Six Months Ended June 30, 2020
Investment management fees from pooled investment products	$	63,151	$	132,431	$	26,211	$	356	$	707	$	222,856
Investment management fees from investment management agreements	639		53,965		128,634		—		5,871		189,109
Investment operations fees	913		—		—		215,279		—		216,192
Investment processing fees - PaaS	90,344		—		—		—		—		90,344
Investment processing fees - SaaS	57,216		—		—		6,643		—		63,859
Professional services fees	5,872		—		—		2,658		—		8,530
Account fees and other	2,812		9,633		881		11,033		159		24,518
Total revenues	$	220,947	$	196,029	$	155,726	$	235,969	$	6,737	$	815,408

Primary Geographic Markets:
United States	$	145,621	$	196,029	$	122,503	$	219,580	$	6,737	$	690,470
United Kingdom	46,704		—		25,104		—		—		71,808
Canada	20,127		—		3,029		—		—		23,156
Ireland	8,495		—		4,795		16,389		—		29,679
Other	—		—		295		—		—		295
Total revenues	$	220,947	$	196,029	$	155,726	$	235,969	$	6,737	$	815,408


	Private Banks		Investment Advisors		Institutional Investors		Investment Managers		Investments In New Businesses		Total
Major Product Lines:	For the Six Months Ended June 30, 2019
Investment management fees from pooled investment products	$	66,424	$	136,710	$	27,460	$	389	$	634	$	231,617
Investment management fees from investment management agreements	985		49,286		133,247		—		5,411		188,929
Investment operations fees	738		—		—		194,799		—		195,537
Investment processing fees - PaaS	87,067		—		—		—		—		87,067
Investment processing fees - SaaS	69,484		—		—		5,142		—		74,626
Professional services fees	6,363		—		—		2,965		—		9,328
Account fees and other	3,290		8,887		515		10,556		54		23,302
Total revenues	$	234,351	$	194,883	$	161,222	$	213,851	$	6,099	$	810,406

Primary Geographic Markets:
United States	$	152,343	$	194,883	$	125,978	$	199,852	$	6,099	$	679,155
United Kingdom	51,045		—		26,606		—		—		77,651
Canada	21,542		—		3,435		—		—		24,977
Ireland	9,421		—		4,667		13,999		—		28,087
Other	—		—		536		—		—		536
Total revenues	$	234,351	$	194,883	$	161,222	$	213,851	$	6,099	$	810,406

Investment management fees from pooled investment products - Revenues associated with clients' assets invested in Company-sponsored pooled investment products. Contractual fees are stated as a percentage of the average market value of assets under management and collected on a monthly basis. Revenues are recognized in Asset management, administration and distribution fees on the accompanying Consolidated Statements of Operations.

Investment management fees from investment management agreements - Revenues based on assets of clients of the Institutional Investors segment primarily invested in Company-sponsored products. Each client is charged an investment management fee that is stated as a percentage of the average market value of all assets under management. The client is billed directly on a quarterly basis. Revenues are recognized in Asset management, administration and distribution fees on the accompanying Consolidated Statements of Operations.

Revenues associated with the separately managed account program offered to clients of the Investment Advisors segment through registered investment advisors located throughout the United States. The contractual fee is stated as a percentage of the average market value of all assets invested in the separately managed account and collected on a quarterly basis. Revenues are recognized in Asset management, administration and distribution fees on the accompanying Consolidated Statements of Operations.

Investment operations fees - Revenues earned from accounting and administrative services, distribution support services and regulatory and compliance services to investment management firms and family offices. The Company contracts directly with the investment management firm or family office. The contractual fees are stated as a percentage of net assets under administration and billed when asset valuations are finalized. Revenues are recognized in Asset management, administration and distribution fees on the accompanying Consolidated Statements of Operations.

Investment processing fees - Platform as a Service - Revenues associated with clients that outsource their entire investment operation and back-office processing functions. Through the use of the Company's proprietary platforms, the Company assumes all back-office investment processing services including investment processing, custody and safekeeping of assets, income collections, securities settlement and other related trust activities. The contractual fee is based on a monthly fee plus additional fees determined on a per-account or per-transaction basis. Contractual fees can also be stated as a percentage of the value of assets processed on the Company's platforms each month as long as the fee is in excess of a monthly contractual minimum. The client is billed directly on a monthly basis. Revenues are recognized in Information processing and software servicing fees on the accompanying Consolidated Statements of Operations.

Investment processing fees - Software as a Service - Revenues associated with clients that outsource investment processing technology software and computer processing by accessing our proprietary software and data center remotely but retain responsibility for all investment operations, client administration and other back-office trust operations. The contractual fee is based on a monthly fee plus additional fees determined on a per-account or per-transaction basis. The client is billed directly on a monthly basis. Revenues are recognized in Information processing and software servicing fees on the accompanying Consolidated Statements of Operations.

Professional services fees - Revenues associated with the business services migration for investment processing clients of the Private Banks segment and investment operations clients of the Investment Managers segment. In addition, Professional services include other services such as business transformation consulting. Typically, fees are stated as a contractual fixed fee. The client is billed directly and fees are collected according to the terms of the agreement.

Account fees and other - Revenues associated with custody account servicing, account terminations, reimbursements received for out-of-pocket expenses, and other fees for the provision of ancillary services.

Revenue is recognized by the Company when the performance obligations are satisfied and transfer of control to the client is completed. The majority of the Company’s performance obligations are satisfied and control is transferred to the client continuously. Therefore, revenue is recognized on a monthly basis. The amount of revenue recognized reflects the amount of consideration expected to be received by the Company in exchange for satisfied performance obligations.

The Company does not disclose the value of unsatisfied performance obligations as the majority of its contracts relate to: 1) contracts with an original term of one year or less; 2) contracts for which the Company recognizes revenue at the amount to which it has the right to invoice for services performed; and 3) contracts that are based on the value of assets under management or administration.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Summary of Significant Accounting Policies (Policy)	6 Months Ended
Summary of Significant Accounting Policies (Policy)	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America. Certain financial information and accompanying note disclosure normally included in the Company’s Annual Report on Form 10-K have been condensed or omitted. The interim financial information is unaudited but reflects all adjustments (consisting of only normal recurring adjustments) which are, in the opinion of management, necessary for a fair statement of financial position of the Company as of June 30, 2020, the results of operations for the three and six months ended June 30, 2020 and 2019, and cash flows for the six-months ended June 30, 2020 and 2019. These interim Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and the Notes to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. The Company adopted the requirements of Accounting Standards Update (ASU) 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (Accounting Standards Codification (ASC) 326)) (ASU 2016-13) and subsequent amendments ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments (ASU 2019-04) and ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments-Credit Losses (ASU 2019-11) on January 1, 2020. ASU 2016-13 and the related amendments are hereafter referred to as ASC 326. ASC 326 requires that expected credit losses relating to financial assets measured on an amortized cost basis and available-for-sale debt securities be recorded through an allowance for credit losses. The Company owns mortgage-backed securities issued by the Government National Mortgage Association (GNMA), a federal agency of the U.S. government classified as Available-for-sale debt securities which qualify for the zero credit risk allowance. The Company's U.S. Treasury and other U.S. government agency securities classified as Securities owned are outside the scope of ASC 326. There was no impact to the Company's disclosures related to its marketable securities from the implementation of ASC 326. In accordance with ASC 326, the Company evaluated its receivable balances for credit risk based upon the source of revenue, its ability to collect fees directly from investment products or directly from assets in the client's account, a review of actual historical credit losses, and the potential for expected credit loss from its current client base. The Company has no meaningful historical credit loss data and a very limited amount of losses pertaining directly to a client's inability to satisfy its receivable balance even during periods of economic distress. The credit loss reserve recognized by the Company through the implementation of ASC 326 during the six months ended June 30, 2020 was immaterial. The Company also adopted the requirements of ASU 2017-04, Simplifying the Test for Goodwill Impairment (ASU 2017-04) on January 1, 2020. The adoption of ASU 2017-04 did not have a material impact on the Company's consolidated financial statements and related disclosures. With the exception of the adoption of ASC 326 and ASU 2017-04, there have been no other significant changes in significant accounting policies during the six months ended June 30, 2020 as compared to the significant accounting policies described in the Company's Annual Report on Form 10-K for the year ended December 31, 2019.
Variable Interest Entities	Variable Interest Entities The Company or its affiliates have created numerous investment products for its clients in various types of legal entity structures. The Company serves as the Manager, Administrator and Distributor for these investment products and may also serve as the Trustee for some of the investment products. The Company receives asset management, distribution, administration and custodial fees for these services. Clients are the equity investors and participate in proportion to their ownership percentage in the net income or loss and net capital gains or losses of the products, and, on liquidation, will participate in proportion to their ownership percentage in the remaining net assets of the products after satisfaction of outstanding liabilities. The Company has concluded that it is not the primary beneficiary of the entities and, therefore, is not required to consolidate any of the pooled investment vehicles for which it receives asset management, distribution, administration and custodial fees under the VIE model. The entities either do not meet the definition of a VIE or the Company does not hold a variable interest in the entities. The entities either qualify for the money market scope exception, or are entities in which the Company’s asset management, distribution, administration and custodial fees are commensurate with the services provided and include fair terms and conditions, or are entities that are limited partnerships which have substantive kick-out rights. The Company acts as a fiduciary and does not hold any other interests other than insignificant seed money investments in the pooled investment vehicles. For this reason, the Company also concluded that it is not required to consolidate the pooled investment vehicles under the voting interest entity model. The Company is a party to expense limitation agreements with certain SEI-sponsored money market funds subject to Rule 2a-7 of the Investment Company Act of 1940 which establish a maximum level of ordinary operating expenses incurred by the fund in any fiscal year including, but not limited to, fees of the administrator or its affiliates.
Revenue Recognition	Revenue RecognitionRevenue is recognized when the transfer of control of promised goods or services under the terms of a contract with customers are satisfied in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those promised goods or services. Certain portions of the Company’s revenues involve a third party in providing goods or services to its customers. In such circumstances, the Company must determine whether the nature of its promise to the customer is to provide the underlying goods or services (the Company is the principal in the transaction and reports the transaction gross) or to arrange for a third party to provide the underlying goods or services (the entity is the agent in the transaction and reports the transaction net).
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents includes $335,676 and $414,581 at June 30, 2020 and December 31, 2019, respectively, primarily invested in SEI-sponsored open-ended money market mutual funds. Statements of Cash Flows For purposes of the Consolidated Statements of Cash Flows, the Company considers investment instruments purchased with an original maturity of three months or less to be cash equivalents.
Restricted Cash	Restricted CashRestricted cash includes $3,000 at June 30, 2020 and December 31, 2019 segregated for regulatory purposes related to trade-execution services conducted by SEI Investments (Europe) Limited. Restricted cash also includes $101 at June 30, 2020 and December 31, 2019 segregated in special reserve accounts for the benefit of customers of the Company’s broker-dealer subsidiary, SEI Investments Distribution Co. (SIDCO), in accordance with certain rules established by the Securities and Exchange Commission (SEC) for broker-dealers.
New Accounting Pronouncements	New Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (FASB) issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (ASU 2019-12). The standard removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for the Company beginning in the first quarter of 2021. The Company is currently evaluating the impact of adopting ASU 2019-12 on its consolidated financial statements and related disclosures.
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform to current year presentation.
Equity Method Investments	The Company accounts for its interest in LSV using the equity method because of its less than 50% ownership. The Company’s interest in the net assets of LSV is reflected in Investment in unconsolidated affiliate on the accompanying Consolidated Balance Sheets and its interest in the earnings of LSV is reflected in Equity in earnings of unconsolidated affiliate on the accompanying Consolidated Statements of Operations.
Fair Value of Financial Instruments	The fair value of the Company’s financial assets and liabilities, except for the Company's investment funds sponsored by LSV, is determined in accordance with the fair value hierarchy. The fair value of the Company’s Level 1 financial assets consist mainly of investments in open-ended mutual funds that are quoted daily. Level 2 financial assets consist of GNMA mortgage-backed securities held by the Company's wholly-owned limited purpose federal thrift subsidiary, SEI Private Trust Company (SPTC), Federal Home Loan Bank (FHLB) and other U.S. government agency short-term notes held by SIDCO. The financial assets held by SIDCO were purchased as part of a cash management program requiring only short term, top-tier investment grade government and corporate securities. The financial assets held by SPTC are debt securities issued by GNMA and are backed by the full faith and credit of the U.S. government. These securities were purchased for the sole purpose of satisfying applicable regulatory requirements and have maturity dates which range from 2023 to 2041. The fair value of the Company's investment funds sponsored by LSV is measured using the net asset value per share (NAV) as a practical expedient. The NAVs of the funds are calculated by the funds' independent custodian and are derived from the fair values of the underlying investments as of the reporting date. The funds allow for investor redemptions at the end of each calendar month. This investment has not been classified in the fair value hierarchy but is presented in the tables below to permit reconciliation to the amounts presented on the accompanying Consolidated Balance Sheets. The valuation of the Company's Level 2 financial assets held by SIDCO and SPTC are based upon securities pricing policies and procedures utilized by third-party pricing vendors. The pricing policies and procedures applied for our Level 1 and Level 2 financial assets during the six months ended June 30, 2020 were consistent with those as described in our Annual Report on Form 10-K at December 31, 2019. The Company had no Level 3 financial assets at June 30, 2020 or December 31, 2019 that were required to be measured at fair value on a recurring basis.
Investments in Affiliated Funds	The fair value of the Company's investment funds sponsored by LSV is measured using the net asset value per share (NAV) as a practical expedient. The NAVs of the funds are calculated by the funds' independent custodian and are derived from the fair values of the underlying investments as of the reporting date. The funds allow for investor redemptions at the end of each calendar month. This investment has not been classified in the fair value hierarchy but is presented in the tables below to permit reconciliation to the amounts presented on the accompanying Consolidated Balance Sheets.
Available-for-sale Securities	These net unrealized gains are reported as a separate component of Accumulated other comprehensive loss on the accompanying Consolidated Balance Sheets.
Securities Owned	The Company’s broker-dealer subsidiary, SIDCO, has investments in U.S. government agency securities with maturity dates less than one year. These investments are reflected as Securities owned on the accompanying Consolidated Balance Sheets. Due to specialized accounting practices applicable to investments by broker-dealers, the securities are reported at fair value and changes in fair value are recorded in current period earnings.

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

Calculation Of Basic And Diluted Earnings Per Share

The calculations of basic and diluted earnings per share for the three and six months ended June 30, 2020 and 2019 are:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Net income	$	101,066	$	126,540	$	210,308	$	240,521
Shares used to compute basic earnings per common share	147,478,000		151,863,000		148,473,000		152,587,000
Dilutive effect of stock options	2,120,000		3,302,000		2,510,000		3,266,000
Shares used to compute diluted earnings per common share	149,598,000		155,165,000		150,983,000		155,853,000
Basic earnings per common share	$	0.69	$	0.83	$	1.42	$	1.58
Diluted earnings per common share	$	0.68	$	0.82	$	1.39	$	1.54

Adjustments To Reconcile Net Income To Net Cash Provided By Operating Activities

The following table provides the details of the adjustments to reconcile net income to net cash provided by operating activities for the six months ended June 30:


	2020		2019
Net income	$	210,308	$	240,521
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	15,113		14,753
Amortization	26,217		25,460
Equity in earnings of unconsolidated affiliate	(58,183)		(75,149)
Distributions received from unconsolidated affiliate	84,502		77,288
Stock-based compensation	13,991		10,102
Provision for losses on receivables	(122)		383
Deferred income tax expense	(5,459)		(2,050)
Net loss (gain) from investments	2,086		(1,510)

Change in other long-term liabilities	(1,448)		1,129
Change in other assets	(6,135)		249
Contract costs capitalized, net of amortization	(2,117)		(1,125)
Other	(1,217)		122
Change in current assets and liabilities
(Increase) decrease in
Receivables from investment products	4,292		(2,538)
Receivables	(11,134)		(20,192)
Other current assets	(2,716)		3,708
(Decrease) increase in
Accounts payable	6,357		(5,426)
Accrued liabilities	(9,367)		(47,631)
Deferred revenue	(836)		(449)
Total adjustments	53,824		(22,876)
Net cash provided by operating activities	$	264,132	$	217,645

Investment In Unconsolidated Affiliate (Tables)

6 Months Ended

Jun. 30, 2020

Equity Method Investments and Joint Ventures [Abstract]

Condensed financial information of LSV

These tables contain condensed financial information of LSV:


Condensed Statement of Operations	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Revenues	$	94,648	$	123,017	$	194,644	$	243,932
Net income	72,847		97,271		149,744		193,219


Condensed Balance Sheets	June 30, 2020		December 31, 2019
Current assets	$	114,909	$	144,547
Non-current assets	4,625		5,048
Total assets	$	119,534	$	149,595

Current liabilities	$	55,851	$	46,828
Non-current liabilities	4,980		5,326
Partners’ capital	58,703		97,441
Total liabilities and partners’ capital	$	119,534	$	149,595

Composition of Certain Financial Statement Captions (Tables)

6 Months Ended

Jun. 30, 2020

Items Included in Consolidated Statement of Financial Condition [Abstract]

Receivables

Receivables on the accompanying Consolidated Balance Sheets consist of:


	June 30, 2020		December 31, 2019
Trade receivables	$	89,183	$	86,043
Fees earned, not billed	252,541		240,239
Other receivables	10,969		15,277
	352,693		341,559
Less: Allowance for doubtful accounts	(1,079)		(1,201)
	$	351,614	$	340,358

Property And Equipment

Property and Equipment on the accompanying Consolidated Balance Sheets consists of:


	June 30, 2020		December 31, 2019
Buildings	$	162,999	$	162,882
Equipment	137,698		123,945
Land	10,830		10,830
Purchased software	145,816		143,705
Furniture and fixtures	20,032		18,835
Leasehold improvements	20,109		20,700
Construction in progress	52,466		33,415
	549,950		514,312
Less: Accumulated depreciation	(367,677)		(353,453)
Property and Equipment, net	$	182,273	$	160,859

Accrued Liabilities

Accrued liabilities on the accompanying Consolidated Balance Sheets consist of:


	June 30, 2020		December 31, 2019
Accrued employee compensation	$	50,858	$	96,991

Accrued consulting, outsourcing and professional fees	35,750		28,610
Accrued sub-advisory, distribution and other asset management fees	47,797		46,245

Accrued dividend payable	—		52,452
Accrued income taxes	24,739		2,010
Other accrued liabilities	51,567		46,493
Total accrued liabilities	$	210,711	$	272,801

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value Of Certain Financial Assets And Liabilities

The fair value of certain financial assets of the Company was determined using the following inputs:


			Fair Value Measurements at the End of the Reporting Period Using
Assets	June 30, 2020		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
Equity securities	$	11,194	$	11,194	$	—
Available-for-sale debt securities	94,167		—		94,167
Fixed-income securities owned	35,030		—		35,030
Investment funds sponsored by LSV (1)	4,749
	$	145,140	$	11,194	$	129,197


			Fair Value Measurements at the End of the Reporting Period Using
Assets	December 31, 2019		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
Equity securities	$	12,119	$	12,119	$	—
Available-for-sale debt securities	104,798		—		104,798
Fixed-income securities owned	33,486		—		33,486
Investment funds sponsored by LSV (1)	5,988
	$	156,391	$	12,119	$	138,284

Marketable Securities (Tables)

6 Months Ended

Jun. 30, 2020

Marketable Securities [Abstract]

Investments Available For Sale

Available For Sale and Equity Securities on the accompanying Consolidated Balance Sheets consist of:


	At June 30, 2020
	Cost Amount		Gross Unrealized Gains		Gross Unrealized (Losses)		Fair Value
Available-for-sale debt securities	$	91,666	$	2,501	$	—	$	94,167
SEI-sponsored mutual funds	7,514		72		(594)		6,992
Equities and other mutual funds	3,600		602		—		4,202
	$	102,780	$	3,175	$	(594)	$	105,361


	At December 31, 2019
	Cost Amount		Gross Unrealized Gains		Gross Unrealized (Losses)		Fair Value
Available-for-sale debt securities	$	104,193	$	605	$	—	$	104,798
SEI-sponsored mutual funds	7,564		125		(39)		7,650
Equities and other mutual funds	3,637		832		—		4,469
	$	115,394	$	1,562	$	(39)	$	116,917

Shareholders' Equity (Tables)

6 Months Ended

Jun. 30, 2020

Stockholders' Equity Note [Abstract]

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan

The Company recognized stock-based compensation expense in its Consolidated Financial Statements in the three and six months ended June 30, 2020 and 2019, respectively, as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Stock-based compensation expense	$	7,062	$	5,064	$	13,991	$	10,102
Less: Deferred tax benefit	(1,318)		(971)		(2,703)		(1,917)
Stock-based compensation expense, net of tax	$	5,744	$	4,093	$	11,288	$	8,185

Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2020

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule Of Accumulated Other Comprehensive Income (Loss), Net Of Tax

The components of Accumulated other comprehensive loss, net of tax, are as follows:


	Foreign Currency Translation Adjustments		Unrealized Gains (Losses) on Investments		Accumulated Other Comprehensive Loss
Balance, January 1, 2020	$	(23,969)	$	465	$	(23,504)

Other comprehensive loss before reclassifications	(12,136)		1,244		(10,892)
Amounts reclassified from accumulated other comprehensive loss	—		217		217
Net current-period other comprehensive loss	(12,136)		1,461		(10,675)

Balance, June 30, 2020	$	(36,105)	$	1,926	$	(34,179)

Business Segment Information (Tables)

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Schedule Of Financial Information About Business Segments

The following tables highlight certain financial information about each of the Company’s business segments for the three months ended June 30, 2020 and 2019:


	Private Banks		Investment Advisors		Institutional Investors		Investment Managers		Investments In New Businesses		Total
	For the Three Months Ended June 30, 2020
Revenues	$	107,726	$	93,708	$	76,523	$	119,340	$	3,349	$	400,646
Expenses	107,723		50,149		36,937		74,668		13,466		282,943
Operating profit (loss)	$	3	$	43,559	$	39,586	$	44,672	$	(10,117)	$	117,703


	Private Banks		Investment Advisors		Institutional Investors		Investment Managers		Investments In New Businesses		Total
	For the Three Months Ended June 30, 2019
Revenues	$	116,092	$	100,122	$	81,109	$	109,202	$	3,061	$	409,586
Expenses	107,790		50,558		39,361		68,371		6,797		272,877
Operating profit (loss)	$	8,302	$	49,564	$	41,748	$	40,831	$	(3,736)	$	136,709

The following tables highlight certain financial information about each of the Company’s business segments for the six months ended June 30, 2020 and 2019:


	Private Banks		Investment Advisors		Institutional Investors		Investment Managers		Investments In New Businesses		Total
	For the Six Months Ended June 30, 2020
Revenues	$	220,947	$	196,029	$	155,726	$	235,969	$	6,737	$	815,408
Expenses	218,376		102,581		75,204		148,957		24,376		569,494
Operating profit (loss)	$	2,571	$	93,448	$	80,522	$	87,012	$	(17,639)	$	245,914


	Private Banks		Investment Advisors		Institutional Investors		Investment Managers		Investments In New Businesses		Total
	For the Six Months Ended June 30, 2019
Revenues	$	234,351	$	194,883	$	161,222	$	213,851	$	6,099	$	810,406
Expenses	218,752		103,060		78,115		137,437		12,737		550,101
Operating profit (loss)	$	15,599	$	91,823	$	83,107	$	76,414	$	(6,638)	$	260,305

Reconciliation Of Total Operating Profit Reported For Business Segments To Income From Operations In Consolidated Statements Of Operations


	2020		2019
Total operating profit from segments	$	117,703	$	136,709
Corporate overhead expenses	(17,391)		(16,573)
Income from operations	$	100,312	$	120,136


	2020		2019
Total operating profit from segments	$	245,914	$	260,305
Corporate overhead expenses	(35,374)		(36,608)
Income from operations	$	210,540	$	223,697

Reconciliation of Other Significant Reconciling Items from Segments to Consolidated

The following tables provide additional information for the three months ended June 30, 2020 and 2019 pertaining to our business segments:


	Capital Expenditures (1)						Depreciation
	2020		2019		2020		2019
Private Banks	$	6,634	$	8,761	$	3,965	$	3,585
Investment Advisors	3,803		4,558		1,172		1,165
Institutional Investors	1,029		1,049		301		414
Investment Managers	7,259		4,875		1,869		1,820
Investments in New Businesses	332		344		76		110
Total from business segments	$	19,057	$	19,587	$	7,383	$	7,094
Corporate overhead	798		586		257		328
	$	19,855	$	20,173	$	7,640	$	7,422

(1) Capital expenditures include additions to property and equipment and capitalized software.


	Amortization
	2020		2019
Private Banks	$	7,464	$	7,217
Investment Advisors	2,664		2,550
Institutional Investors	427		427
Investment Managers	2,342		2,346
Investments in New Businesses	185		185
Total from business segments	$	13,082	$	12,725
Corporate overhead	58		56
	$	13,140	$	12,781

The following tables provide additional information for the six months ended June 30, 2020 and 2019 pertaining to our business segments:


	Capital Expenditures (1)						Depreciation
	2020		2019		2020		2019
Private Banks	$	16,559	$	17,222	$	7,847	$	7,134
Investment Advisors	9,193		8,505		2,323		2,344
Institutional Investors	2,387		1,920		603		819
Investment Managers	16,291		8,224		3,681		3,591
Investments in New Businesses	750		585		146		201
Total from business segments	$	45,180	$	36,456	$	14,600	$	14,089
Corporate Overhead	1,795		971		513		664
	$	46,975	$	37,427	$	15,113	$	14,753

(1) Capital expenditures include additions to property and equipment and capitalized software.


	Amortization
	2020		2019
Private Banks	$	14,885	$	14,358
Investment Advisors	5,316		5,073
Institutional Investors	854		860
Investment Managers	4,677		4,685
Investments in New Businesses	370		370
Total from business segments	$	26,102	$	25,346
Corporate Overhead	115		114
	$	26,217	$	25,460

Income Taxes (Tables)

6 Months Ended

Jun. 30, 2020

Income Tax Disclosure [Abstract]

Schedule Of Interest And Penalties


	June 30, 2020		December 31, 2019
Gross liability for unrecognized tax benefits, exclusive of interest and penalties	$	17,122	$	15,356
Interest and penalties on unrecognized benefits	2,387		1,962
Total gross uncertain tax positions	$	19,509	$	17,318
Amount included in Current liabilities	$	4,950	$	4,896
Amount included in Other long-term liabilities	14,559		12,422
	$	19,509	$	17,318

Schedule of Effective Income Tax Rate Reconciliation

The Company's effective income tax rate for the three and six months ended June 30, 2020 and 2019 differs from the federal income tax statutory rate due to the following:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Statutory rate	21.0	%	21.0	%	21.0	%	21.0	%
State taxes, net of federal tax benefit	3.3		2.6		3.2		2.6
Foreign tax expense and tax rate differential	(0.2)		(0.1)		(0.1)		(0.1)
Tax benefit from stock option exercises	(0.4)		(1.1)		(1.3)		(1.1)


Other, net	(0.4)		(0.3)		(0.4)		(0.3)
	23.3	%	22.1	%	22.4	%	22.1	%

Revenues from Contracts with Customers (Tables)

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue


	Private Banks		Investment Advisors		Institutional Investors		Investment Managers		Investments In New Businesses		Total
Major Product Lines:	For the Three Months Ended June 30, 2020
Investment management fees from pooled investment products	$	30,307	$	62,251	$	12,894	$	163	$	348	$	105,963
Investment management fees from investment management agreements	292		26,545		62,924		—		2,908		92,669
Investment operations fees	438		—		—		109,078		—		109,516
Investment processing fees - PaaS	44,191		—		—		—		—		44,191
Investment processing fees - SaaS	28,047		—		—		3,392		—		31,439
Professional services fees	3,157		—		—		1,384		—		4,541
Account fees and other	1,294		4,912		705		5,323		93		12,327
Total revenues	$	107,726	$	93,708	$	76,523	$	119,340	$	3,349	$	400,646

Primary Geographic Markets:
United States	$	71,607	$	93,708	$	60,414	$	111,137	$	3,349	$	340,215
United Kingdom	22,345		—		12,280		—		—		34,625
Canada	9,726		—		1,431		—		—		11,157
Ireland	4,048		—		2,265		8,203		—		14,516
Other	—		—		133		—		—		133
Total revenues	$	107,726	$	93,708	$	76,523	$	119,340	$	3,349	$	400,646


	Private Banks		Investment Advisors		Institutional Investors		Investment Managers		Investments In New Businesses		Total
Major Product Lines:	For the Three Months Ended June 30, 2019
Investment management fees from pooled investment products	$	33,451	$	70,087	$	13,799	$	184	$	325	$	117,846
Investment management fees from investment management agreements	283		25,448		67,076		—		2,713		95,520
Investment operations fees	362		—		—		99,932		—		100,294
Investment processing fees - PaaS	43,156		—		—		—		—		43,156
Investment processing fees - SaaS	34,776		—		—		2,593		—		37,369
Professional services fees	2,586		—		—		1,548		—		4,134
Account fees and other	1,478		4,587		234		4,945		23		11,267
Total revenues	$	116,092	$	100,122	$	81,109	$	109,202	$	3,061	$	409,586

Primary Geographic Markets:
United States	$	74,889	$	100,122	$	63,653	$	101,794	$	3,061	$	343,519
United Kingdom	25,695		—		13,140		—		—		38,835
Canada	10,882		—		1,708		—		—		12,590
Ireland	4,626		—		2,356		7,408		—		14,390
Other	—		—		252		—		—		252
Total revenues	$	116,092	$	100,122	$	81,109	$	109,202	$	3,061	$	409,586


	Private Banks		Investment Advisors		Institutional Investors		Investment Managers		Investments In New Businesses		Total
Major Product Lines:	For the Six Months Ended June 30, 2020
Investment management fees from pooled investment products	$	63,151	$	132,431	$	26,211	$	356	$	707	$	222,856
Investment management fees from investment management agreements	639		53,965		128,634		—		5,871		189,109
Investment operations fees	913		—		—		215,279		—		216,192
Investment processing fees - PaaS	90,344		—		—		—		—		90,344
Investment processing fees - SaaS	57,216		—		—		6,643		—		63,859
Professional services fees	5,872		—		—		2,658		—		8,530
Account fees and other	2,812		9,633		881		11,033		159		24,518
Total revenues	$	220,947	$	196,029	$	155,726	$	235,969	$	6,737	$	815,408

Primary Geographic Markets:
United States	$	145,621	$	196,029	$	122,503	$	219,580	$	6,737	$	690,470
United Kingdom	46,704		—		25,104		—		—		71,808
Canada	20,127		—		3,029		—		—		23,156
Ireland	8,495		—		4,795		16,389		—		29,679
Other	—		—		295		—		—		295
Total revenues	$	220,947	$	196,029	$	155,726	$	235,969	$	6,737	$	815,408


	Private Banks		Investment Advisors		Institutional Investors		Investment Managers		Investments In New Businesses		Total
Major Product Lines:	For the Six Months Ended June 30, 2019
Investment management fees from pooled investment products	$	66,424	$	136,710	$	27,460	$	389	$	634	$	231,617
Investment management fees from investment management agreements	985		49,286		133,247		—		5,411		188,929
Investment operations fees	738		—		—		194,799		—		195,537
Investment processing fees - PaaS	87,067		—		—		—		—		87,067
Investment processing fees - SaaS	69,484		—		—		5,142		—		74,626
Professional services fees	6,363		—		—		2,965		—		9,328
Account fees and other	3,290		8,887		515		10,556		54		23,302
Total revenues	$	234,351	$	194,883	$	161,222	$	213,851	$	6,099	$	810,406

Primary Geographic Markets:
United States	$	152,343	$	194,883	$	125,978	$	199,852	$	6,099	$	679,155
United Kingdom	51,045		—		26,606		—		—		77,651
Canada	21,542		—		3,435		—		—		24,977
Ireland	9,421		—		4,667		13,999		—		28,087
Other	—		—		536		—		—		536
Total revenues	$	234,351	$	194,883	$	161,222	$	213,851	$	6,099	$	810,406

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Summary of Significant Accounting Policies [Line Items]
Cash and cash equivalents invested in SEI-sponsored money market funds	$ 758,276		$ 758,276		$ 841,446
Restricted cash	3,101		3,101		3,101
Capitalized software development costs			12,533	$ 19,188
Net book value of capitalized software	$ 284,341		$ 284,341		296,068
Anti-dilutive employee stock options (in shares)	8,154	6,244	7,781	6,284
Anti-dilutive employee stock options (in USD per share)	$ 58.26	$ 54.79	$ 58.50	$ 54.80
SEI Wealth Platform
Summary of Significant Accounting Policies [Line Items]
Capitalized software development costs			$ 11,785	$ 18,693
Net book value of capitalized software	$ 269,582		269,582
Capitalized software in progress	60,504		60,504		55,332
Amortization expense of capitalized software			$ 21,656	20,900
SEI Wealth Platform \| Weighted Average
Summary of Significant Accounting Policies [Line Items]
Weighted average estimated useful Llfe			8 years 4 months 24 days
SEI-Sponsored Open-Ended Money Market Mutual Funds
Summary of Significant Accounting Policies [Line Items]
Cash and cash equivalents invested in SEI-sponsored money market funds	335,676		$ 335,676		414,581
SEI Investments (Europe) Limited
Summary of Significant Accounting Policies [Line Items]
Restricted cash	3,000		3,000		3,000
SEI Investments Distribution Co. (SIDCO)
Summary of Significant Accounting Policies [Line Items]
Restricted cash	101		101		$ 101
SEI-Sponsored Open-Ended Money Market Mutual Funds
Summary of Significant Accounting Policies [Line Items]
Fees waived	$ 9,714	$ 6,796	$ 16,355	$ 14,701

Summary of Significant Accounting Policies (Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Accounting Policies [Abstract]
Net income	$ 101,066	$ 126,540	$ 210,308	$ 240,521
Shares used to compute basic earnings per common share (in shares)	147,478	151,863	148,473	152,587
Dilutive effect of stock options (in shares)	2,120	3,302	2,510	3,266
Shares used to compute diluted earnings per common share (in shares)	149,598	155,165	150,983	155,853
Basic earnings per common share (in USD per share)	$ 0.69	$ 0.83	$ 1.42	$ 1.58
Diluted earnings per common share (in USD per share)	$ 0.68	$ 0.82	$ 1.39	$ 1.54

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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+ Details

Summary of Significant Accounting Policies (Net Cash Provided by Operating Activities) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Accounting Policies [Abstract]
Net income	$ 101,066	$ 126,540	$ 210,308	$ 240,521
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	7,640	7,422	15,113	14,753
Amortization	13,140	12,781	26,217	25,460
Equity in earnings of unconsolidated affiliate	(28,276)	(37,832)	(58,183)	(75,149)
Distributions received from unconsolidated affiliate			84,502	77,288
Stock-based compensation	7,062	5,064	13,991	10,102
Provision for losses on receivables			(122)	383
Deferred income tax expense			(5,459)	(2,050)
Net loss (gain) from investments	$ (1,903)	$ (231)	2,086	(1,510)
Change in other long-term liabilities			(1,448)	1,129
Change in other assets			(6,135)	249
Contract costs capitalized, net of amortization			(2,117)	(1,125)
Other			(1,217)	122
(Increase) decrease in
Receivables from investment products			4,292	(2,538)
Receivables			(11,134)	(20,192)
Other current assets			(2,716)	3,708
(Decrease) increase in
Accounts payable			6,357	(5,426)
Accrued liabilities			(9,367)	(47,631)
Deferred revenue			(836)	(449)
Total adjustments			53,824	(22,876)
Net cash provided by operating activities			$ 264,132	$ 217,645

Investment In Unconsolidated Affiliate (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Apr. 01, 2020
Investments in and Advances to Affiliates [Line Items]
Distributions received from unconsolidated affiliate			$ 84,502	$ 77,288
Company's share in the earnings of equity method investee	$ 28,276	$ 37,832	$ 58,183	75,149
LSV Asset Management
Investments in and Advances to Affiliates [Line Items]
Equity method investment, ownership percentage	38.80%		38.80%		38.90%
Total investment in equity method investee	$ 41,094		$ 41,094
Distributions received from unconsolidated affiliate			84,502	77,288
Company's share in the earnings of equity method investee	$ 28,276	$ 37,832	$ 58,183	$ 75,149

Investment In Unconsolidated Affiliate (Statement of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Schedule of Equity Method Investments [Line Items]
Revenues	$ 400,646	$ 409,586	$ 815,408	$ 810,406
Equity Method Investment, Nonconsolidated Investee \| LSV Asset Management
Schedule of Equity Method Investments [Line Items]
Revenues	94,648	123,017	194,644	243,932
Net income	$ 72,847	$ 97,271	$ 149,744	$ 193,219

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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+ Details

Investment in Unconsolidated Affiliate (Balance Sheets) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Current assets	$ 1,232,899	$ 1,304,845
Total Assets	2,053,600	2,151,370
Current liabilities	236,125	293,565
Total Liabilities and Shareholders' Equity	2,053,600	2,151,370
Equity Method Investment, Nonconsolidated Investee \| LSV Asset Management
Schedule of Equity Method Investments [Line Items]
Current assets	114,909	144,547
Non-current assets	4,625	5,048
Total Assets	119,534	149,595
Current liabilities	55,851	46,828
Non-current liabilities	4,980	5,326
Partners’ capital	58,703	97,441
Total Liabilities and Shareholders' Equity	$ 119,534	$ 149,595

Composition of Certain Financial Statement Captions (Receivables) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Items Included in Consolidated Statement of Financial Condition [Abstract]
Trade receivables	$ 89,183	$ 86,043
Fees earned, not billed	252,541	240,239
Other receivables	10,969	15,277
Receivables, Gross, Current	352,693	341,559
Less: Allowance for doubtful accounts	(1,079)	(1,201)
Receivables, net	$ 351,614	$ 340,358

Composition of Certain Financial Statement Captions (Property And Equipment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Property and Equipment [Line Items]
Property and Equipment, gross	$ 549,950		$ 549,950		$ 514,312
Less: Accumulated depreciation	(367,677)		(367,677)		(353,453)
Property and Equipment, net	182,273		182,273		160,859
Depreciation expense	7,640	$ 7,422	15,113	$ 14,753
Buildings
Property and Equipment [Line Items]
Property and Equipment, gross	162,999		162,999		162,882
Equipment
Property and Equipment [Line Items]
Property and Equipment, gross	137,698		137,698		123,945
Land
Property and Equipment [Line Items]
Property and Equipment, gross	10,830		10,830		10,830
Purchased software
Property and Equipment [Line Items]
Property and Equipment, gross	145,816		145,816		143,705
Furniture and fixtures
Property and Equipment [Line Items]
Property and Equipment, gross	20,032		20,032		18,835
Leasehold improvements
Property and Equipment [Line Items]
Property and Equipment, gross	20,109		20,109		20,700
Construction in progress
Property and Equipment [Line Items]
Property and Equipment, gross	$ 52,466		$ 52,466		$ 33,415

Composition of Certain Financial Statement Captions (Deferred Contract Costs) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Items Included in Consolidated Statement of Financial Condition [Abstract]
Deferred contract costs	$ 33,108,000		$ 33,108,000		$ 30,991,000
Capitalized contract cost, amount capitalized during period	$ 1,752,000	$ 1,950,000	4,749,000	$ 3,076,000
Amortization of deferred contract costs			2,632,000	$ 1,951,000
Capitalized contract cost impairment			$ 0

Composition of Certain Financial Statement Captions (Accrued Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Items Included in Consolidated Statement of Financial Condition [Abstract]
Accrued employee compensation	$ 50,858	$ 96,991
Accrued consulting, outsourcing and professional fees	35,750	28,610
Accrued sub-advisory, distribution and other asset management fees	47,797	46,245
Accrued dividend payable	0	52,452
Accrued income taxes	24,739	2,010
Other accrued liabilities	51,567	46,493
Total accrued liabilities	$ 210,711	$ 272,801

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed-income securities owned	$ 35,030	$ 33,486
Assets, fair value	145,140	156,391
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed-income securities owned	0	0
Assets, fair value	11,194	12,119
Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed-income securities owned	35,030	33,486
Assets, fair value	129,197	138,284
Fair Value Measured at Net Asset Value Per Share
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment funds sponsored by LSV	4,749	5,988
Equity securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities	11,194	12,119
Equity securities \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities	11,194	12,119
Equity securities \| Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities	0	0
Available-for-sale debt securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities	94,167	104,798
Available-for-sale debt securities \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities	0	0
Available-for-sale debt securities \| Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities	$ 94,167	$ 104,798

Marketable Securities (Investments Available For Sale) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Investments Available for sale, Cost Amount	$ 102,780	$ 115,394
Investments Available for sale, Gross Unrealized Gains	3,175	1,562
Investments Available for sale, Gross Unrealized (Losses)	(594)	(39)
Investments Available for sale, Fair Value	105,361	116,917
Available-for-sale debt securities
Debt Securities, Available-for-sale [Line Items]
Debt securities, Cost Amount	91,666	104,193
Debt securities, Gross Unrealized Gains	2,501	605
Debt securities, Gross Unrealized (Losses)	0	0
Debt securities, Fair Value	94,167	104,798
SEI-sponsored mutual funds
Debt Securities, Available-for-sale [Line Items]
Equity securities, FV-NI, Cost Amount	7,514	7,564
Equity securities, FV-NI, Gross Unrealized Gains	72	125
Equity securities, FV-NI, Gross Unrealized (Losses)	(594)	(39)
Equity securities, FV-NI	6,992	7,650
Equities and other mutual funds
Debt Securities, Available-for-sale [Line Items]
Equity securities, FV-NI, Cost Amount	3,600	3,637
Equity securities, FV-NI, Gross Unrealized Gains	602	832
Equity securities, FV-NI, Gross Unrealized (Losses)	0	0
Equity securities, FV-NI	$ 4,202	$ 4,469

Marketable Securities (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
Marketable Securities (Narrative) (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Schedule of Investments [Line Items]
Cash and cash equivalents at fair value	$ 445,941,000		$ 445,941,000		$ 543,765,000
Net unrealized gains (losses) of available-for-sale debt securities	1,926,000		1,926,000		465,000
Unrealized gains (losses) during the period, income tax expense (benefit)	575,000		575,000		140,000
Available-for-sale securities, gross realized gains			0	$ 0
Mutual funds and equities, gross realized gains			196,000	56,000
Mutual funds and equities, realized loss			240,000	238,000
Other long-term investments	41,094,000		41,094,000		67,413,000
Securities owned	35,030,000		35,030,000		33,486,000
Available-for-sale debt securities
Schedule of Investments [Line Items]
Available-for-sale securities, gross realized losses			280,000	227,000
Investment Funds Sponsored by LSV
Schedule of Investments [Line Items]
Other long-term investments	4,749,000		4,749,000		$ 5,988,000
Unrealized gain (loss) on investments	$ 996,000	$ 95,000	$ (1,239,000)	$ 547,000

Line of Credit (Details)	6 Months Ended
Line of Credit (Details)	Jun. 30, 2020 USD ($)
Line of Credit Facility [Line Items]
Letters of credit outstanding amount	$ 11,553,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Credit facility term of agreement	5 years
Credit facility maximum borrowing capacity	$ 300,000,000
Credit facility stated percentage	0.00%
Credit facility accordion feature, increase limit	$ 100,000,000
Credit facility remaining borrowing capacity	$ 288,447,000
Revolving Credit Facility \| London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Credit facility variable interest rate basis spread	1.00%
Revolving Credit Facility \| Federal Funds Rate
Line of Credit Facility [Line Items]
Credit facility variable interest rate basis spread	0.50%
Revolving Credit Facility \| Minimum
Line of Credit Facility [Line Items]
Credit facility commitment fee per annum on daily unused portion	0.15%
Revolving Credit Facility \| Minimum \| Lender's Base Rate Plus Market Spread
Line of Credit Facility [Line Items]
Credit facility variable interest rate basis spread	0.25%
Revolving Credit Facility \| Minimum \| London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Credit facility variable interest rate basis spread	1.25%
Revolving Credit Facility \| Maximum
Line of Credit Facility [Line Items]
Credit facility commitment fee per annum on daily unused portion	0.30%
Revolving Credit Facility \| Maximum \| Lender's Base Rate Plus Market Spread
Line of Credit Facility [Line Items]
Credit facility variable interest rate basis spread	1.00%
Revolving Credit Facility \| Maximum \| London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Credit facility variable interest rate basis spread	2.00%
Letter of Credit
Line of Credit Facility [Line Items]
Credit facility maximum borrowing capacity	$ 15,000,000
Credit facility, commitment fee percentage	1.25%
Credit facility, fronting fee percentage	0.175%

Shareholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
	Jun. 03, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost		$ 59,935		$ 59,935
Total intrinsic value of options exercised				22,672
Aggregate intrinsic value of options exercisable		$ 127,233		$ 127,233
Market value of Company's common stock (in USD per share)		$ 54.98		$ 54.98
Weighted average exercise price per share (in USD per share)		$ 37.98		$ 37.98
Total options outstanding (in shares)		14,931		14,931
Total options exercisable (in shares)		7,483		7,483
Dividends declared per common share (in USD per share)	$ 0.35	$ 0.35	$ 0.33	$ 0.35	$ 0.33
Cash dividends declared		$ 51,462	$ 49,984	$ 51,462	$ 49,984
Common Stock Buyback
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares purchased and retired (in shares)				4,075
Company purchased, cost				$ 216,902
Remaining stock repurchase authorization amount		$ 150,627		$ 150,627
2014 Plan \| Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rate				50.00%
2014 Plan \| Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rate				50.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award waiting period				2 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award waiting period				4 years

Shareholders' Equity (Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Stockholders' Equity Note [Abstract]
Stock-based compensation expense	$ 7,062	$ 5,064	$ 13,991	$ 10,102
Less: Deferred tax benefit	(1,318)	(971)	(2,703)	(1,917)
Stock-based compensation expense, net of tax	$ 5,744	$ 4,093	$ 11,288	$ 8,185

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ 1,734,266	$ 1,636,550	$ 1,738,778	$ 1,593,147
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Other comprehensive loss before reclassifications			(10,892)
Amounts reclassified from accumulated other comprehensive loss			217
Net current-period other comprehensive loss	1,169	(2,020)	(10,675)	2,260
Ending balance	1,708,625	1,634,501	1,708,625	1,634,501
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			(23,969)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Other comprehensive loss before reclassifications			(12,136)
Amounts reclassified from accumulated other comprehensive loss			0
Net current-period other comprehensive loss			(12,136)
Ending balance	(36,105)		(36,105)
Unrealized Gains (Losses) on Investments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			465
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Other comprehensive loss before reclassifications			1,244
Amounts reclassified from accumulated other comprehensive loss			217
Net current-period other comprehensive loss			1,461
Ending balance	1,926		1,926
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(35,348)	(28,720)	(23,504)	(33,000)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Net current-period other comprehensive loss	1,169	(2,020)	(10,675)	2,260
Ending balance	$ (34,179)	$ (30,740)	$ (34,179)	$ (30,740)

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

Business Segment Information (Schedule of Financial Information About Business Segments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Revenues	$ 400,646	$ 409,586	$ 815,408	$ 810,406
Expenses	282,943	272,877	569,494	550,101
Operating profit (loss)	117,703	136,709	245,914	260,305
Private Banks
Segment Reporting Information [Line Items]
Revenues	107,726	116,092	220,947	234,351
Expenses	107,723	107,790	218,376	218,752
Operating profit (loss)	3	8,302	2,571	15,599
Investment Advisors
Segment Reporting Information [Line Items]
Revenues	93,708	100,122	196,029	194,883
Expenses	50,149	50,558	102,581	103,060
Operating profit (loss)	43,559	49,564	93,448	91,823
Institutional Investors
Segment Reporting Information [Line Items]
Revenues	76,523	81,109	155,726	161,222
Expenses	36,937	39,361	75,204	78,115
Operating profit (loss)	39,586	41,748	80,522	83,107
Investment Managers
Segment Reporting Information [Line Items]
Revenues	119,340	109,202	235,969	213,851
Expenses	74,668	68,371	148,957	137,437
Operating profit (loss)	44,672	40,831	87,012	76,414
Investments In New Businesses
Segment Reporting Information [Line Items]
Revenues	3,349	3,061	6,737	6,099
Expenses	13,466	6,797	24,376	12,737
Operating profit (loss)	$ (10,117)	$ (3,736)	$ (17,639)	$ (6,638)

- Definition

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
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-Subparagraph (c)
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Reference 2: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
-Topic 280
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-Paragraph 31
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 235
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-Section S99
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-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Business Segment Information (Reconciliation of Total Operating Profit) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Total operating profit from segments	$ 117,703	$ 136,709	$ 245,914	$ 260,305
Income from operations	100,312	120,136	210,540	223,697
Operating Segments
Segment Reporting Information [Line Items]
Total operating profit from segments	117,703	136,709	245,914	260,305
Corporate
Segment Reporting Information [Line Items]
Corporate overhead expenses	$ (17,391)	$ (16,573)	$ (35,374)	$ (36,608)

- Definition

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

+ References

+ Details

Business Segment Information (Schedule Of Additional Information Pertaining To Business Segments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Capital Expenditures	$ 19,855	$ 20,173	$ 46,975	$ 37,427
Depreciation	7,640	7,422	15,113	14,753
Amortization	13,140	12,781	26,217	25,460
Operating Segments
Segment Reporting Information [Line Items]
Capital Expenditures	19,057	19,587	45,180	36,456
Depreciation	7,383	7,094	14,600	14,089
Amortization	13,082	12,725	26,102	25,346
Operating Segments \| Private Banks
Segment Reporting Information [Line Items]
Capital Expenditures	6,634	8,761	16,559	17,222
Depreciation	3,965	3,585	7,847	7,134
Amortization	7,464	7,217	14,885	14,358
Operating Segments \| Investment Advisors
Segment Reporting Information [Line Items]
Capital Expenditures	3,803	4,558	9,193	8,505
Depreciation	1,172	1,165	2,323	2,344
Amortization	2,664	2,550	5,316	5,073
Operating Segments \| Institutional Investors
Segment Reporting Information [Line Items]
Capital Expenditures	1,029	1,049	2,387	1,920
Depreciation	301	414	603	819
Amortization	427	427	854	860
Operating Segments \| Investment Managers
Segment Reporting Information [Line Items]
Capital Expenditures	7,259	4,875	16,291	8,224
Depreciation	1,869	1,820	3,681	3,591
Amortization	2,342	2,346	4,677	4,685
Operating Segments \| Investments In New Businesses
Segment Reporting Information [Line Items]
Capital Expenditures	332	344	750	585
Depreciation	76	110	146	201
Amortization	185	185	370	370
Corporate
Segment Reporting Information [Line Items]
Capital Expenditures	798	586	1,795	971
Depreciation	257	328	513	664
Amortization	$ 58	$ 56	$ 115	$ 114

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Income Tax Contingency [Line Items]
Gross liability for unrecognized tax benefits, exclusive of interest and penalties	$ 17,122	$ 15,356
Unrecognized tax benefits that would affect effective tax rate	17,097	15,194
Interest and penalties on unrecognized benefits	2,387	$ 1,962
Settlement and Lapse of Statute
Income Tax Contingency [Line Items]
Unrecognized tax benefits within the next twelve months	$ 4,950

Income Taxes (Interest And Penalties) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Gross liability for unrecognized tax benefits, exclusive of interest and penalties	$ 17,122	$ 15,356
Interest and penalties on unrecognized benefits	2,387	1,962
Total gross uncertain tax positions	19,509	17,318
Amount included in Current liabilities	4,950	4,896
Amount included in Other long-term liabilities	$ 14,559	$ 12,422

Income Taxes (Effective Income Tax Rate Reconciliation) (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Statutory rate	21.00%	21.00%	21.00%	21.00%
State taxes, net of federal tax benefit	3.30%	2.60%	3.20%	2.60%
Foreign tax expense and tax rate differential	(0.20%)	(0.10%)	(0.10%)	(0.10%)
Tax benefit from stock option exercises	(0.40%)	(1.10%)	(1.30%)	(1.10%)
Other, net	(0.40%)	(0.30%)	(0.40%)	(0.30%)
Effective income tax rate	23.30%	22.10%	22.40%	22.10%

Commitments and Contingencies (Details)	Jun. 30, 2020 lawsuit
Loss Contingencies [Line Items]
Number of lawsuits filed	7
Cases with SPTC as Defendant
Loss Contingencies [Line Items]
Number of lawsuits filed	4
Claims for Violations of Louisiana Racketeering Act
Loss Contingencies [Line Items]
Number of lawsuits filed	2
Cases Remaining in Parish of East Baton Rouge Granted Indefinite Extensions to Respond
Loss Contingencies [Line Items]
Number of lawsuits filed	2
Cases Filed in East Baton Rouge
Loss Contingencies [Line Items]
Number of lawsuits filed	2

Goodwill and Intangible Assets (Details) - USD ($)	6 Months Ended		12 Months Ended
Goodwill and Intangible Assets (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Goodwill [Line Items]
Goodwill	$ 64,489,000		$ 64,489,000
Payment of contingent consideration	633,000	$ 0
Goodwill change during period	0
Amortization expense	1,842,000	$ 1,842,000
Huntington Steele, LLC
Goodwill [Line Items]
Goodwill	11,499,000
Payment of contingent consideration	633,000		$ 433,000
Contingent consideration, current	3,577,000
Contingent consideration, long-term	8,045,000
Archway
Goodwill [Line Items]
Goodwill	$ 52,990,000

Revenues from Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Revenues	$ 400,646	$ 409,586	$ 815,408	$ 810,406
United States
Disaggregation of Revenue [Line Items]
Revenues	340,215	343,519	690,470	679,155
United Kingdom
Disaggregation of Revenue [Line Items]
Revenues	34,625	38,835	71,808	77,651
Canada
Disaggregation of Revenue [Line Items]
Revenues	11,157	12,590	23,156	24,977
Ireland
Disaggregation of Revenue [Line Items]
Revenues	14,516	14,390	29,679	28,087
Other
Disaggregation of Revenue [Line Items]
Revenues	133	252	295	536
Investment management fees from pooled investment products
Disaggregation of Revenue [Line Items]
Revenues	105,963	117,846	222,856	231,617
Investment management fees from investment management agreements
Disaggregation of Revenue [Line Items]
Revenues	92,669	95,520	189,109	188,929
Investment operations fees
Disaggregation of Revenue [Line Items]
Revenues	109,516	100,294	216,192	195,537
Investment processing fees - PaaS
Disaggregation of Revenue [Line Items]
Revenues	44,191	43,156	90,344	87,067
Investment processing fees - SaaS
Disaggregation of Revenue [Line Items]
Revenues	31,439	37,369	63,859	74,626
Professional services fees
Disaggregation of Revenue [Line Items]
Revenues	4,541	4,134	8,530	9,328
Account fees and other
Disaggregation of Revenue [Line Items]
Revenues	12,327	11,267	24,518	23,302
Private Banks
Disaggregation of Revenue [Line Items]
Revenues	107,726	116,092	220,947	234,351
Private Banks \| United States
Disaggregation of Revenue [Line Items]
Revenues	71,607	74,889	145,621	152,343
Private Banks \| United Kingdom
Disaggregation of Revenue [Line Items]
Revenues	22,345	25,695	46,704	51,045
Private Banks \| Canada
Disaggregation of Revenue [Line Items]
Revenues	9,726	10,882	20,127	21,542
Private Banks \| Ireland
Disaggregation of Revenue [Line Items]
Revenues	4,048	4,626	8,495	9,421
Private Banks \| Other
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Private Banks \| Investment management fees from pooled investment products
Disaggregation of Revenue [Line Items]
Revenues	30,307	33,451	63,151	66,424
Private Banks \| Investment management fees from investment management agreements
Disaggregation of Revenue [Line Items]
Revenues	292	283	639	985
Private Banks \| Investment operations fees
Disaggregation of Revenue [Line Items]
Revenues	438	362	913	738
Private Banks \| Investment processing fees - PaaS
Disaggregation of Revenue [Line Items]
Revenues	44,191	43,156	90,344	87,067
Private Banks \| Investment processing fees - SaaS
Disaggregation of Revenue [Line Items]
Revenues	28,047	34,776	57,216	69,484
Private Banks \| Professional services fees
Disaggregation of Revenue [Line Items]
Revenues	3,157	2,586	5,872	6,363
Private Banks \| Account fees and other
Disaggregation of Revenue [Line Items]
Revenues	1,294	1,478	2,812	3,290
Investment Advisors
Disaggregation of Revenue [Line Items]
Revenues	93,708	100,122	196,029	194,883
Investment Advisors \| United States
Disaggregation of Revenue [Line Items]
Revenues	93,708	100,122	196,029	194,883
Investment Advisors \| United Kingdom
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investment Advisors \| Canada
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investment Advisors \| Ireland
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investment Advisors \| Other
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investment Advisors \| Investment management fees from pooled investment products
Disaggregation of Revenue [Line Items]
Revenues	62,251	70,087	132,431	136,710
Investment Advisors \| Investment management fees from investment management agreements
Disaggregation of Revenue [Line Items]
Revenues	26,545	25,448	53,965	49,286
Investment Advisors \| Investment operations fees
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investment Advisors \| Investment processing fees - PaaS
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investment Advisors \| Investment processing fees - SaaS
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investment Advisors \| Professional services fees
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investment Advisors \| Account fees and other
Disaggregation of Revenue [Line Items]
Revenues	4,912	4,587	9,633	8,887
Institutional Investors
Disaggregation of Revenue [Line Items]
Revenues	76,523	81,109	155,726	161,222
Institutional Investors \| United States
Disaggregation of Revenue [Line Items]
Revenues	60,414	63,653	122,503	125,978
Institutional Investors \| United Kingdom
Disaggregation of Revenue [Line Items]
Revenues	12,280	13,140	25,104	26,606
Institutional Investors \| Canada
Disaggregation of Revenue [Line Items]
Revenues	1,431	1,708	3,029	3,435
Institutional Investors \| Ireland
Disaggregation of Revenue [Line Items]
Revenues	2,265	2,356	4,795	4,667
Institutional Investors \| Other
Disaggregation of Revenue [Line Items]
Revenues	133	252	295	536
Institutional Investors \| Investment management fees from pooled investment products
Disaggregation of Revenue [Line Items]
Revenues	12,894	13,799	26,211	27,460
Institutional Investors \| Investment management fees from investment management agreements
Disaggregation of Revenue [Line Items]
Revenues	62,924	67,076	128,634	133,247
Institutional Investors \| Investment operations fees
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Institutional Investors \| Investment processing fees - PaaS
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Institutional Investors \| Investment processing fees - SaaS
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Institutional Investors \| Professional services fees
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Institutional Investors \| Account fees and other
Disaggregation of Revenue [Line Items]
Revenues	705	234	881	515
Investment Managers
Disaggregation of Revenue [Line Items]
Revenues	119,340	109,202	235,969	213,851
Investment Managers \| United States
Disaggregation of Revenue [Line Items]
Revenues	111,137	101,794	219,580	199,852
Investment Managers \| United Kingdom
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investment Managers \| Canada
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investment Managers \| Ireland
Disaggregation of Revenue [Line Items]
Revenues	8,203	7,408	16,389	13,999
Investment Managers \| Other
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investment Managers \| Investment management fees from pooled investment products
Disaggregation of Revenue [Line Items]
Revenues	163	184	356	389
Investment Managers \| Investment management fees from investment management agreements
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investment Managers \| Investment operations fees
Disaggregation of Revenue [Line Items]
Revenues	109,078	99,932	215,279	194,799
Investment Managers \| Investment processing fees - PaaS
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investment Managers \| Investment processing fees - SaaS
Disaggregation of Revenue [Line Items]
Revenues	3,392	2,593	6,643	5,142
Investment Managers \| Professional services fees
Disaggregation of Revenue [Line Items]
Revenues	1,384	1,548	2,658	2,965
Investment Managers \| Account fees and other
Disaggregation of Revenue [Line Items]
Revenues	5,323	4,945	11,033	10,556
Investments In New Businesses
Disaggregation of Revenue [Line Items]
Revenues	3,349	3,061	6,737	6,099
Investments In New Businesses \| United States
Disaggregation of Revenue [Line Items]
Revenues	3,349	3,061	6,737	6,099
Investments In New Businesses \| United Kingdom
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investments In New Businesses \| Canada
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investments In New Businesses \| Ireland
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investments In New Businesses \| Other
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investments In New Businesses \| Investment management fees from pooled investment products
Disaggregation of Revenue [Line Items]
Revenues	348	325	707	634
Investments In New Businesses \| Investment management fees from investment management agreements
Disaggregation of Revenue [Line Items]
Revenues	2,908	2,713	5,871	5,411
Investments In New Businesses \| Investment operations fees
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investments In New Businesses \| Investment processing fees - PaaS
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investments In New Businesses \| Investment processing fees - SaaS
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investments In New Businesses \| Professional services fees
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investments In New Businesses \| Account fees and other
Disaggregation of Revenue [Line Items]
Revenues	$ 93	$ 23	$ 159	$ 54