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seic-20241022
0000350894FALSE00003508942024-10-222024-10-22

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________________________________
FORM 8-K
________________________________________
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
October 22, 2024
Date of report (Date of earliest event reported)
________________________________________
https://cdn.kscope.io/03ca221b93ea5f34d39d8daa29783fc0-GIF_sei_logo_final_black.gif
________________________________________
SEI INVESTMENTS COMPANY
(Exact name of registrant as specified in charter)
________________________________________
Pennsylvania 0-10200 23-1707341
(State or Other Jurisdiction
of Incorporation)
 (Commission
File Number)		 (I.R.S. Employer
Identification No.)
1 Freedom Valley Drive
Oaks, Pennsylvania 19456
(Address of Principal Executive Offices and Zip Code)
(610) 676-1000
(Registrants’ Telephone Number, Including Area Code)
________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Common Stock, par value $0.01 per shareSEICThe NASDAQ Stock Market LLC



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


Item 2.02.    Results of Operations and Financial Condition.
On Wednesday, October 23, 2024, SEI Investments Company (the "Company") issued a press release announcing its financial and operating results for the third quarter ended September 30, 2024. A copy of the press release is furnished as Exhibit 99.1 and incorporated in this Item 2.02 by reference. A recording of the earnings call referenced in the press release furnished as Exhibit 99.1 is available for replay on the Company’s website at seic.com/investor-relations.
As provided in General Instruction B.2 to Form 8-K, the information furnished in this Item 2.02 and Exhibit 99.1 hereto shall not be deemed “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing with the Securities and Exchange Commission, except as shall be expressly provided by specific reference in such filing.

Item 8.01.    Other Events.
On Tuesday, October 22, 2024, the Company's Board of Directors approved an increase in its stock repurchase program by an additional $400 million, increasing the available authorization under the program to approximately $429 million. A copy of the press release is furnished as Exhibit 99.2 and incorporated in this Item 8.01 by reference.

Item 9.01.    Financial Statements and Exhibits.
Exhibit No.Description
99.1
99.2
104  Cover Page Interactive Data File (embedded within the Inline XBRL document)



SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SEI INVESTMENTS COMPANY
Date:October 23, 2024By:/s/ Sean J. Denham
Sean J. Denham
Chief Financial Officer






Document
https://cdn.kscope.io/03ca221b93ea5f34d39d8daa29783fc0-headerimage_v1-01.jpg
Investor contact:                        Media contact:                        
Brad Burke                            Leslie Wojcik
SEI                                SEI                                
+1 610-676-5350                        +1 610-676-4191
bburke2@seic.com                        lwojcik@seic.com
Pages:        10

FOR IMMEDIATE RELEASE

SEI Reports Third-Quarter 2024 Financial Results
Net Sales Events, AUM, and AUA Drive Record Quarter
OAKS, Pa., Oct. 23, 2024 – SEI Investments Company (NASDAQ:SEIC) today announced financial results for the third quarter 2024. Relative to the third quarter 2023, EPS increased by 37%, and revenue and operating income grew by 13% and 33%, respectively, with operating margins increasing to 26.8%.
All business segments reported revenue and operating margin growth relative to both the third quarter 2023 and the second quarter 2024. Net sales events of $46 million represent the highest level ever achieved in a single quarter. Total assets under management, administration, and advisement grew to a record high of approximately $1.6 trillion.

Consolidated Overview
(In thousands, except earnings per share)For the Three Months Ended September 30,For the Nine Months Ended September 30,
20242023%20242023%
Revenues$537,396 $476,759 13%$1,567,961 $1,434,935 9%
Operating income143,832 108,472 33%406,197 322,840 26%
Operating margin26.8 %22.8 %18%25.9 %22.5 %15%
Net income 154,900 115,661 34%425,420 341,527 25%
Diluted earnings per share$1.19 $0.87 37%$3.23 $2.54 27%

“Over the last two years, we have made meaningful adjustments that have reinforced the foundation for executing our growth strategy—driving quality sales, increasing client engagement, and capitalizing on market opportunities. Our record third-quarter results highlight our market momentum and that we are running our company differently," said CEO Ryan Hicke.
“I am confident that SEI’s combination of stability, culture, balance sheet strength, client focus, and willingness to invest in innovation and scalable solutions will drive competitive differentiation and accelerated growth. We are focused on maximizing our enterprise value for our shareholders, and we are proud of our employees’ dedication and enthusiasm.”
1


Summary of Third-Quarter Results by Business Segment

(In thousands)For the Three Months Ended September 30,For the Nine Months Ended September 30,
20242023%20242023%
Private Banks:
Revenues$138,734 $119,664 16%$401,272 $372,980 8%
Expenses115,097 111,207 3%339,961 337,834 1%
Operating Profit23,637 8,457 179%61,311 35,146 74%
Operating Margin17 %7 %15 %9 %
Investment Advisors:
Revenues126,836 110,461 15%370,141 326,579 13%
Expenses70,152 64,280 9%206,063 192,004 7%
Operating Profit56,684 46,181 23%164,078 134,575 22%
Operating Margin45 %42 %44 %41 %
Institutional Investors:
Revenues71,626 70,479 2%214,911 219,914 (2)%
Expenses37,851 39,953 (5)%116,386 126,337 (8)%
Operating Profit33,775 30,526 11%98,525 93,577 5%
Operating Margin47 %43 %46 %43 %
Investment Managers:
Revenues184,607 162,982 13%537,128 476,683 13%
Expenses114,118 103,585 10%334,955 308,483 9%
Operating Profit70,489 59,397 19%202,173 168,200 20%
Operating Margin38 %36 %38 %35 %
Investments in New Businesses:
Revenues15,593 13,173 18%44,509 38,779 15%
Expenses18,440 18,265 1%55,403 52,919 5%
Operating Loss(2,847)(5,092)NM(10,894)(14,140)NM
Totals:
Revenues$537,396 $476,759 13%$1,567,961 $1,434,935 9%
Expenses355,658 337,290 5%1,052,768 1,017,577 3%
Corporate Overhead Expenses37,906 30,997 22%108,996 94,518 15%
Income from Operations$143,832 $108,472 33%$406,197 $322,840 26%
2


Third-Quarter Business Highlights:
•Diluted EPS of $1.19, up 37% from the prior year, represents the second-highest level in SEI’s history. SEI’s strong EPS growth is attributable to double-digit revenue growth, margin expansion in each segment, a one-time gain of $8.2 million, or $0.05 impact, due to the sale of property located in New York, and a large one-time performance fee from LSV, of which our portion was approximately $5.3 million, or $0.03 impact.
•Consolidated revenues increased by 13% from Q3 2023, with each business segment posting positive growth. Both the Private Banks and Investment Advisors segments realized double-digit revenue growth in the quarter.
◦Drivers of revenue growth were broad-based, with positive contributions from market appreciation, cross-sales to existing clients, and sales to new clients.
◦Private Banks revenue growth of 16% was driven by backlog implementations, converting new clients onto the SEI Wealth PlatformSM (SWP), and growth in the volume of assets processed on SWP.
◦Investment Advisors revenue growth of 15% was driven by a positive contribution from the FDIC program, which contributed $10.7 million to revenue in the quarter, and strong performance in separate account offerings.
•Average assets under administration increased by 2%, and average assets under management increased by 4%, relative to the second-quarter 2024. On a year-over-year basis, average AUA and AUM increased by 15% and 16%, respectively.
◦Combined assets under management, administration, and advisement reached a record balance of approximately $1.6 trillion at quarter-end.
◦Increases in assets were driven by a mix of market appreciation and positive net inflows, notably in the Investment Advisors and Investment Managers segments.
•Operating profit margins of 26.8% increased on both a year-over-year and sequential basis. Margins also increased for each of our business segments, also on a year-over-year and sequential basis. Margin improvement was driven by operating leverage on revenue growth in addition to focused cost management efforts, most notably in the Private Banks and Institutional Investors businesses.
•Net sales events during the third quarter 2024 were $46.4 million, a record level of net sales events for any single quarter. Net sales events in third quarter are expected to generate net annualized recurring revenues of approximately $34.9 million when contract values are completely realized (see the Sales Events schedule for further details).
•Earnings from LSV increased to $36.5 million in the third quarter 2024 as compared to $29.9 million in the third quarter 2023 due to market appreciation and higher performance fees. Net negative cash flows from existing clients and client losses partially offset the increase in earnings from LSV.
•SEI repurchased 1.3 million shares of common stock for $85.8 million during the third quarter 2024 at an average price of $67.40 per share.
•SEI recognized other income of $8.2 million, or $0.05 diluted earnings per share, in third quarter 2024 from the sale of property located in New York, NY, noted above.
3


Earnings Conference Call
A conference call to review earnings is scheduled for 5 p.m. Eastern time on Oct. 23, 2024. Investors and the public may listen to the call and replay at seic.com/ir-events.

About SEI®
SEI (NASDAQ:SEIC) delivers technology and investment solutions that connect the financial services industry. With capabilities across investment processing, operations, and asset management, SEI works with corporations, financial institutions and professionals, and ultra-high-net-worth families to help drive growth, make confident decisions, and protect futures. As of Sept. 30, 2024, SEI manages, advises, or administers approximately $1.6 trillion in assets. For more information, visit seic.com.

This release contains forward-looking statements within the meaning or the rules and regulations of the Securities and Exchange Commission. In some cases you can identify forward-looking statements by terminology, such as "may," "will," "expect," "believe" and "continue" or "appear." Our forward-looking statements include our current expectations as to:
•the degree to which our combination of stability, culture, balance sheet strength, client focus, and willingness to invest in innovation and scalable solutions will drive competitive differentiation and accelerated growth; and
•when and if we will generate net annualized recurring revenues from sales events that occurred during the quarter, as well as the amount of any such revenue.
We anticipate that we may deliver forward-looking statements during today’s earnings call that include our current expectations as to the matters in this release and set forth above as well as:
•our strategic priorities and the strength of our execution against these priorities, including, without limitation, sales, client engagement, marketing and enterprise positioning, expanding our share of total addressable markets and the markets that we identify for expansion;
•our investment priorities;
•the opportunities available to us for growth and to gain share in the markets in which we currently, and seek to, participate;
•our opportunities for earnings growth, including the opportunities for growth for our Institutional business and delivering single products to our Institutional clients;
•the performance of our various businesses, including the margins and profitability of such businesses;
•the strength and elements of our balance sheet;
•the strength of our pipelines and the momentum that each may have;
•our run rate and the stability of the elements of that run rate;
•the effects of any change to the federal funds rate on our businesses or products and the revenue associated with these items;
•the effects of consolidation in the industries in which we participate;
•the demand for our products and services, including the outsourcing services of our Investment Managers business, Data Cloud and Integration Transition Services;
•platform adoption in the RIA space and the potential to win clients as a consequence of consolidation in the RIA space;
•the amount of revenue we may generate from the cash balances in our Integrated Cash Program and the volatility of these cash deposits;
•the amount, if any, of management fees that may be received by LSV and the contribution of such management fees to our equity income; and
•the market dynamics affecting our businesses.
You should not place undue reliance on our forward-looking statements, as they are based on the current beliefs and expectations of our management and subject to significant risks and uncertainties, many of which are beyond our control or are subject to change. Although we believe the assumptions upon which we base our forward-looking statements are reasonable, they could be inaccurate. Some of the risks and important factors that could cause actual results to differ from those described in our forward-looking statements can be found in the “Risk Factors” section of our Annual Report on Form 10-K for the year ended Dec. 31, 2023, filed with the Securities and Exchange Commission.
# # #
4


SEI INVESTMENTS COMPANY
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data) (Unaudited)
For the Three Months Ended September 30,For the Nine Months Ended September 30,
2024202320242023
Asset management, admin. and distribution fees$423,859 $380,594 $1,237,623 $1,131,244 
Information processing and software servicing fees113,537 96,165 330,338 303,691 
Total revenues537,396 476,759 1,567,961 1,434,935 
Subadvisory, distribution and other asset mgmt. costs47,969 47,531 141,279 142,157 
Software royalties and other information processing costs8,936 8,095 25,503 23,784 
Compensation, benefits and other personnel191,740 180,470 570,534 529,591 
Stock-based compensation13,696 7,979 37,224 23,458 
Consulting, outsourcing and professional fees53,291 54,203 159,258 176,619 
Data processing and computer related37,556 34,016 112,790 102,301 
Facilities, supplies and other costs21,622 16,999 58,795 58,825 
Amortization10,413 9,797 31,284 28,851 
Depreciation8,341 9,197 25,097 26,509 
Total expenses393,564 368,287 1,161,764 1,112,095 
Income from operations143,832 108,472 406,197 322,840 
Net gain (loss) from investments427 (206)3,349 1,053 
Interest and dividend income13,579 11,125 35,950 29,453 
Interest expense(141)(116)(419)(396)
Other income8,151 — 8,151 — 
Equity in earnings of unconsolidated affiliate36,513 29,927 102,375 91,517 
Income before income taxes202,361 149,202 555,603 444,467 
Income taxes47,461 33,541 130,183 102,940 
Net income$154,900 $115,661 $425,420 $341,527 
Basic earnings per common share$1.20 $0.87 $3.26 $2.57 
Shares used to calculate basic earnings per share129,418 132,231 130,550 133,035 
Diluted earnings per common share$1.19 $0.87 $3.23 $2.54 
Shares used to calculate diluted earnings per share130,671 133,504 131,830 134,250 
Dividends declared per common share$— $— $0.46 $0.43 
5


SEI INVESTMENTS COMPANY
CONSOLIDATED BALANCE SHEETS
(In thousands) (Unaudited)
September 30,December 31,
20242023
Assets
Current Assets:
Cash and cash equivalents$901,134 $834,697 
Restricted cash302 301 
Receivables from investment products54,585 55,886 
Receivables, net of allowance for doubtful accounts of $1,833 and $663
609,794 501,434 
Securities owned30,289 31,334 
Other current assets61,433 54,464 
Total Current Assets1,657,537 1,478,116 
Property and Equipment, net of accumulated depreciation of $489,143 and $474,034
164,927 171,364 
Operating Lease Right-of-Use Assets29,567 22,477 
Capitalized Software, net of accumulated amortization of $633,932 and $612,971
237,236 239,783 
Available for Sale and Equity Securities175,722 155,413 
Investments in Affiliated Funds, at fair value8,410 7,316 
Investment in Unconsolidated Affiliate49,675 110,781 
Goodwill138,085 137,333 
Intangible Assets, net of accumulated amortization of $52,964 and $42,520
74,041 82,443 
Deferred Contract Costs42,527 40,221 
Deferred Income Taxes58,373 37,709 
Other Assets, net48,329 37,047 
Total Assets$2,684,429 $2,520,003 
Liabilities and Equity
Current Liabilities:
Accounts payable$8,250 $10,618 
Accrued liabilities258,167 318,945 
Current portion of long-term operating lease liabilities7,926 8,118 
Deferred revenue11,330 15,366 
Total Current Liabilities285,673 353,047 
Long-term Income Taxes Payable803 803 
Long-term Operating Lease Liabilities24,647 17,235 
Other Long-term Liabilities18,896 17,090 
Total Liabilities330,019 388,175 
Shareholders' Equity:
Common stock, $0.01 par value, 750,000 shares authorized; 128,755 and 131,178 shares issued and outstanding
1,288 1,312 
Capital in excess of par value1,477,880 1,404,962 
Retained earnings901,908 762,586 
Accumulated other comprehensive loss, net(26,666)(37,032)
Total Shareholders' Equity2,354,410 2,131,828 
Total Liabilities and Shareholders' Equity$2,684,429 $2,520,003 
6


SEI INVESTMENTS COMPANY
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
(In thousands) (Unaudited)
For the Nine Months Ended September 30,
20242023
Cash flows from operating activities:
Net income$425,420 $341,527 
Adjustments to reconcile net income to net cash provided by operating activities$1,654 $4,455 
Net cash provided by operating activities$427,074 $345,982 
Net cash used in investing activities($57,185)($48,237)
Net cash used in financing activities($310,392)($294,886)
Effect of exchange rate changes on cash, cash equivalents and restricted cash6,941 (1,474)
Net increase in cash, cash equivalents and restricted cash66,438 1,385 
Cash, cash equivalents and restricted cash, beginning of period834,998 853,359 
Cash, cash equivalents and restricted cash, end of period$901,436 $854,744 
7


ENDING ASSET BALANCES
(In millions) (Unaudited)
Sept. 30,Dec. 31,Mar. 31,Jun. 30,Sept. 30,
20232023202420242024
Private Banks:
Equity and fixed-income programs$23,039 $24,496 $25,282 $25,031 $26,565 
Collective trust fund programs6 4 5 5 5 
Liquidity funds3,636 3,916 2,733 2,699 2,948 
Total assets under management$26,681 $28,416 $28,020 $27,735 $29,518 
Client assets under administration4,399 7,267 8,024 7,813 8,349 
Total assets$31,080 $35,683 $36,044 $35,548 $37,867 
Investment Advisors:
Equity and fixed-income programs$66,911 $71,634 $74,715 $74,556 $78,361 
Liquidity funds5,175 4,812 4,722 4,301 2,790 
Total Platform assets under management$72,086 $76,446 $79,437 $78,857 $81,151 
Platform-only assets16,232 18,324 20,516 21,908 24,501 
Platform-only assets-deposit program— 843 897 894 2,447 
Total Platform assets$88,318 $95,613 $100,850 $101,659 $108,099 
Institutional Investors:
Equity and fixed-income programs$72,387 $77,208 $75,969 $75,542 $79,252 
Collective trust fund programs4 1 1 1 1 
Liquidity funds2,119 1,734 2,179 2,309 1,829 
Total assets under management$74,510 $78,943 $78,149 $77,852 $81,082 
Client assets under advisement4,085 6,120 6,862 7,886 8,038 
Total assets$78,595 $85,063 $85,011 $85,738 $89,120 
Investment Managers:
Collective trust fund programs (A)$146,991 $156,376 $161,660 $192,747 $204,429 
Liquidity funds180 114 202 221 233 
Total assets under management$147,171 $156,490 $161,862 $192,968 $204,662 
Client assets under administration871,385 920,757 959,904 998,315 1,022,515 
Total assets$1,018,556 $1,077,247 $1,121,766 $1,191,283 $1,227,177 
Investments in New Businesses:
Equity and fixed-income programs$2,017 $2,174 $2,269 $2,285 $2,825 
Liquidity funds202 209 223 631 246 
Total assets under management$2,219 $2,383 $2,492 $2,916 $3,071 
Client assets under advisement1,070 1,150 1,248 1,886 2,021 
Client assets under administration14,997 14,807 15,411 14,848 15,110 
Total assets$18,286 $18,340 $19,151 $19,650 $20,202 
LSV Asset Management:
Equity and fixed-income programs (B)$83,684 $89,312 $93,616 $90,197 $93,855 
Total:
Equity and fixed-income programs (C)$248,038 $264,824 $271,851 $267,611 $280,858 
Collective trust fund programs147,001 156,381 161,666 192,753 204,435 
Liquidity funds11,312 10,785 10,059 10,161 8,046 
Total assets under management$406,351 $431,990 $443,576 $470,525 $493,339 
Client assets under advisement5,155 7,270 8,110 9,772 10,059 
Client assets under administration (D)890,781 942,831 983,339 1,020,976 1,045,974 
Platform-only assets16,232 19,167 21,413 22,802 26,948 
Total assets$1,318,519 $1,401,258 $1,456,438 $1,524,075 $1,576,320 
(A)Collective trust fund program assets in the Investment Managers segment are included in assets under management since SEI is the trustee. Fees earned on this product are less than fees earned on customized asset management programs.
(B)Equity and fixed-income programs include $1.6 billion of assets managed by LSV in which fees are based solely on performance and are not calculated as an asset-based fee (as of September 30, 2024).
(C)Equity and fixed-income programs include $6.4 billion of assets invested in various asset allocation funds (as of September 30, 2024).
(D)    In addition to the assets presented, SEI also administers an additional $8.5 billion in Funds of Funds assets on which SEI does not earn an administration fee (as of September 30, 2024).
8


AVERAGE ASSET BALANCES
(In millions) (Unaudited)
3rd Qtr.4th Qtr.1st Qtr.2nd Qtr.3rd Qtr.
20232023202420242024
Private Banks:
Equity and fixed-income programs$23,920 $23,309 $24,593 $24,859 $25,823 
Collective trust fund programs6 5 4 5 5 
Liquidity funds3,585 3,808 3,902 2,734 2,858 
Total assets under management$27,511 $27,122 $28,499 $27,598 $28,686 
Client assets under administration4,221 7,083 7,753 7,884 8,074 
Total assets$31,732 $34,205 $36,252 $35,482 $36,760 
Investment Advisors:
Equity and fixed-income programs$69,309 $68,369 $72,689 $73,793 $76,111 
Liquidity funds4,990 5,046 4,649 4,348 4,264 
Total Platform assets under management$74,299 $73,415 $77,338 $78,141 $80,375 
Platform-only assets16,544 17,201 19,198 20,897 23,194 
Platform-only assets-deposit program— 281 849 886 1,176 
Total Platform assets$90,843 $90,897 $97,385 $99,924 $104,745 
Institutional Investors:
Equity and fixed-income programs$75,023 $73,644 $76,414 $75,203 $77,473 
Collective trust fund programs4 3 1 1 1 
Liquidity funds1,611 1,682 1,812 1,893 2,046 
Total assets under management$76,638 $75,329 $78,227 $77,097 $79,520 
Client assets under advisement4,294 4,607 6,498 7,508 7,925 
Total assets$80,932 $79,936 $84,725 $84,605 $87,445 
Investment Managers:
Collective trust fund programs (A)$150,379 $149,551 $156,737 $189,884 $198,839 
Liquidity funds237 205 207 227 245 
Total assets under management$150,616 $149,756 $156,944 $190,111 $199,084 
Client assets under administration873,821 901,487 938,804 982,806 1,005,111 
Total assets$1,024,437 $1,051,243 $1,095,748 $1,172,917 $1,204,195 
Investments in New Businesses:
Equity and fixed-income programs$2,096 $2,069 $2,200 $2,234 $2,432 
Liquidity funds211 197 214 471 546 
Total assets under management$2,307 $2,266 $2,414 $2,705 $2,978 
Client assets under advisement1,101 1,080 1,194 2,014 1,885 
Client assets under administration15,682 14,781 15,147 14,713 14,973 
Total assets$19,090 $18,127 $18,755 $19,432 $19,836 
LSV Asset Management:
Equity and fixed-income programs (B)$86,671 $84,492 $90,708 $90,849 $93,195 
Total:
Equity and fixed-income programs (C)$257,019 $251,883 $266,604 $266,938 $275,034 
Collective trust fund programs150,389 149,559 156,742 189,890 198,845 
Liquidity funds10,634 10,938 10,784 9,673 9,959 
Total assets under management$418,042 $412,380 $434,130 $466,501 $483,838 
Client assets under advisement5,395 5,687 7,692 9,522 9,810 
Client assets under administration (D)893,724 923,351 961,704 1,005,403 1,028,158 
Platform-only assets16,544 17,482 20,047 21,783 24,370 
Total assets$1,333,705 $1,358,900 $1,423,573 $1,503,209 $1,546,176 
(A)    Collective trust fund program average assets in the Investment Managers segment are included in assets under management since SEI is the trustee. Fees earned on this product are less than fees earned on customized asset management programs.
(B)    Equity and fixed-income programs during third-quarter 2024 include $1.7 billion of average assets managed by LSV in which fees are based solely on performance and are not calculated as an asset-based fee.
(C)    Equity and fixed-income programs include $6.3 billion of average assets invested in various asset allocation funds during third-quarter 2024.
(D)    In addition to the assets presented, SEI also administers an additional $8.5 billion of average assets in Funds of Funds assets during third-quarter 2024 on which SEI does not earn an administration fee.
9


SALES EVENTS
(In thousands) (Unaudited)
Net Recurring Sales Events
3rd Qtr.4th Qtr.1st Qtr.2nd Qtr.3rd Qtr.
20232023202420242024
Investment Processing-related Businesses:
Private Banks$2,176 $2,210 $247 $4,331 $9,417 
Investment Managers16,371 15,314 20,407 17,180 23,319 
Total Investment Processing-related Businesses$18,547 $17,524 $20,654 $21,511 $32,736 
Asset Management-related Businesses:
Private Banks-AMD$(543)$(1,068)$(85)$(494)$(854)
Investment Advisors(1,238)(5,277)(942)(3,299)2,686 
Institutional Investors(5,780)(4,151)(4,649)(1,787)(576)
Total Asset Management-related Businesses$(7,561)$(10,496)$(5,676)$(5,580)$1,256 
Newer Initiatives:
Investments in New Businesses$161 $1,432 $1,494 $(43)$936 
Total Net Recurring Sales Events$11,147 $8,460 $16,472 $15,888 $34,928 
Non-Recurring Sales Events
3rd Qtr.4th Qtr.1st Qtr.2nd Qtr.3rd Qtr.
20232023202420242024
Investment Processing-related Businesses:
Private Banks$1,162 $3,489 $2,613 $4,431 $8,796 
Investment Managers839 1,000 1,213 930 712 
Total Investment Processing-related Businesses$2,001 $4,489 $3,826 $5,361 $9,508 
Newer Initiatives:
Investments in New Businesses$1,307 $770 $987 $717 $1,976 
Total Non-Recurring Sales Events$3,308 $5,259 $4,813 $6,078 $11,484 
Total Sales Events
3rd Qtr.4th Qtr.1st Qtr.2nd Qtr.3rd Qtr.
20232023202420242024
Investment Processing-related Businesses:
Private Banks$3,338 $5,699 $2,860 $8,762 $18,213 
Investment Managers17,210 16,314 21,620 18,110 24,031 
Total Investment Processing-related Businesses$20,548 $22,013 $24,480 $26,872 $42,244 
Asset Management-related Businesses:
Private Banks-AMD$(543)$(1,068)$(85)$(494)$(854)
Investment Advisors(1,238)(5,277)(942)(3,299)2,686 
Institutional Investors(5,780)(4,151)(4,649)(1,787)(576)
Total Asset Management-related Businesses$(7,561)$(10,496)$(5,676)$(5,580)$1,256 
Newer Initiatives:
Investments in New Businesses$1,468 $2,202 $2,481 $674 $2,912 
Total Sales Events$14,455 $13,719 $21,285 $21,966 $46,412 
10

exh992seistockrepurchase
© 2024 SEI 1 Investor Relations Contact: Media Contact: Brad Burke Leslie Wojcik SEI SEI +1 610-676-5350 +1 610-676-4191 bburke2@seic.com lwojcik@seic.com Pages: 1 FOR IMMEDIATE RELEASE SEI Increases Stock Share Repurchase Program by $400 Million OAKS, Pa., Oct. 22, 2024 – The Board of Directors of SEI Investments Company approved an increase in its stock repurchase program by an additional $400 million, increasing the available authorization under the program to approximately $429 million, which includes $29 million remaining under the company existing share repurchase authorization. About SEI® SEI (NASDAQ:SEIC) delivers technology and investment solutions that connect the financial services industry. With capabilities across investment processing, operations, and asset management, SEI works with corporations, financial institutions and professionals, and ultra-high-net-worth families to solve problems, manage change, and help protect assets—for growth today and in the future. As of June 30, 2024, SEI manages, advises, or administers approximately $1.5 trillion in assets. For more information, please visit seic.com. ### Press Release.