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Form 8-K

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

April 20, 2007

Date of report (Date of earliest event reported)

SEI Investments Company

(Exact name of registrant as specified in its charter)

Pennsylvania

0-10200

23-1707341

(State or other jurisdiction

of incorporation)

(Commission File No.)

(I.R.S. Employer

Identification No.)

1 Freedom Valley Drive

Oaks, Pennsylvania 19456

(Address of principal executive offices) (Zip Code)

(610) 676-1000

(Registrants’ telephone number, including area code)

Not applicable

(Former name or former address, if changed since last report)

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))

Item 8.01.

Other Events.

Effective January 1, 2007, the Company reorganized some of its business segments. As a result, the business segment financial presentation, including assets under management and administration, will be reclassified in 2007 to conform to this reorganization. These reclassifications are being provided in this Form 8-K solely to provide information concerning what the effect of the reclassifications would have been on the 2006 quarterly periods had the reclassifications occurred on January 1, 2006 which may be considered in connection with the issuance of quarterly financial results reflecting the reclassifications during 2007. These changes did not affect the Company’s audited financial statements for the year ended December 31, 2006 or the historical results of operations, financial condition or liquidity of the Company.

Also effective January 1, 2007, the Company changed the names of three of its business segments. The Private Banking and Trust business segment was renamed as Private Banks, the Enterprises business segment was renamed as Institutional Investors, and the Money Managers business segment was renamed as Investment Managers.

The changes related to the business segment reorganization reflect the evolving nature of the Company’s businesses with respect to growth in the global private bank market. As a result, the Company’s global private banking business formerly reported in the Investments in New Businesses segment will be combined with the U.S. private banking business and reported in the Private Banks segment.

Item 9.01.

Financial Statements and Exhibits.

(d)

Exhibits.

99.1

Reclassification of 2006 Segments due to Business Segment Restructuring.

99.2

Reclassification of 2006 Assets Under Management & Administration by Business Segment due to Business Segment Restructuring.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	SEI Investments Company

Date: April 20, 2007	By:	/s/ Dennis J. McGonigle
		Dennis J. McGonigle
		Chief Financial Officer

EXHIBIT INDEX


Exhibit Number		Description
99.1		Reclassification of 2006 Segments due to Business Segment Restructuring.

99.2		Reclassification of 2006 Assets Under Management & Administration by Business Segment due to Business Segment Restructuring.

Reclassification of 2006 Segments

Exhibit 99.1

SEI INVESTMENTS COMPANY

Reclassification of 2006 Segments due to Business Segment Restructuring


	2006 First Qtr		reclass		Revised 2006 First Qtr		2006 Second Qtr		reclass		Revised 2006 Second Qtr		2006 Third Qtr		reclass		Revised 2006 Third Qtr		2006 4th Qtr		reclass		Revised 2006 4th Qtr		2006 YTD Dec		reclass		Revised 2006 YTD Dec
Private Banks
Revenues:
Information processing and software licensing fees	48,330		114		48,444		50,091		82		50,173		54,151		200		54,351		50,384		872		51,256		202,956		1,268		204,224
Asset Management, administration and distribution fees	11,062		19,147		30,209		11,301		20,527		31,828		11,196		20,620		31,816		11,884		22,564		34,448		45,443		82,858		128,301
Transaction-based and trade execution fees	9,602		47		9,649		8,777		38		8,815		7,878		13		7,891		8,535		34		8,569		34,792		132		34,924

Total Revenue	68,994		19,308		88,302		70,169		20,647		90,816		73,225		20,833		94,058		70,803		23,470		94,273		283,191		84,258		367,449

Expenses:	45,103		19,429		64,532		45,742		22,880		68,622		45,352		26,160		71,512		47,530		26,893		74,423		183,727		95,362		279,089

Operating Profit	23,891		(121	)	23,770		24,427		(2,233	)	22,194		27,873		(5,327	)	22,546		23,273		(3,423	)	19,850		99,464		(11,104	)	88,360
Profit Margin	34.6	%	-0.6	%	26.9	%	34.8	%	-10.8	%	24.4	%	38.1	%	-25.6	%	24.0	%	32.9	%	-14.6	%	21.1	%	35.1	%	-13.2	%	24.0	%

Investment Advisors
Revenues	55,297				55,297		55,232				55,232		55,117				55,117		60,070				60,070		225,716		0		225,716
Expenses:	26,217				26,217		28,993				28,993		27,535				27,535		29,162				29,162		111,907		0		111,907

Operating Profit	29,080		0		29,080		26,239		0		26,239		27,582		0		27,582		30,908		0		30,908		113,809		0		113,809
Profit Margin	52.6	%	0.0	%	52.6	%	47.5	%	0.0	%	47.5	%	50.0	%	0.0	%	50.0	%	51.5	%	0.0	%	51.5	%	50.4	%	0.0	%	50.4	%

Institutional Investors
Revenues	38,528				38,528		38,523				38,523		42,115				42,115		45,796				45,796		164,962		0		164,962
Expenses:	24,450				24,450		26,154				26,154		27,210				27,210		28,563				28,563		106,377		0		106,377

Operating Profit	14,078		0		14,078		12,369		0		12,369		14,905		0		14,905		17,233		0		17,233		58,585		0		58,585
Profit Margin	36.5	%	0.0	%	36.5	%	32.1	%	0.0	%	32.1	%	35.4	%	0.0	%	35.4	%	37.6	%	0.0	%	37.6	%	35.5	%	0.0	%	35.5	%

Investment Managers
Revenues	27,285				27,285		29,051				29,051		29,802				29,802		32,826				32,826		118,964		0		118,964
Expenses:	22,473				22,473		22,554				22,554		22,131				22,131		23,641				23,641		90,799		0		90,799

Operating Profit	4,812		0		4,812		6,497		0		6,497		7,671		0		7,671		9,185		0		9,185		28,165		0		28,165
Profit Margin	17.6	%	0.0	%	17.6	%	22.4	%	0.0	%	22.4	%	25.7	%	0.0	%	25.7	%	28.0	%	0.0	%	28.0	%	23.7	%	0.0	%	23.7	%

Investments in New Businesses
Revenues	20,995		(19,308	)	1,687		22,392		(20,647	)	1,745		22,747		(20,833	)	1,914		25,661		(23,470	)	2,191		91,795		(84,258	)	7,537
Expenses:	24,989		(19,429	)	5,560		28,045		(22,880	)	5,165		32,278		(26,160	)	6,118		32,941		(26,893	)	6,048		118,253		(95,362	)	22,891

Operating Loss	(3,994	)	121		(3,873	)	(5,653	)	2,233		(3,420	)	(9,531	)	5,327		(4,204	)	(7,280	)	3,423		(3,857	)	(26,458	)	11,104		(15,354	)
Profit Margin	-19.0	%	-0.6	%	-229.6	%	-25.2	%	-10.8	%	-196.0	%	-41.9	%	-25.6	%	-219.6	%	-28.4	%	-14.6	%	-176.0	%	-28.8	%	-13.2	%	-203.7	%

LSV
Revenues	66,034				66,034		69,651				69,651		75,078				75,078		80,358				80,358		291,121		0		291,121
Expenses:	40,938				40,938		42,840				42,840		45,990				45,990		48,959				48,959		178,727		0		178,727

Operating Profit	25,096		0		25,096		26,811		0		26,811		29,088		0		29,088		31,399		0		31,399		112,394		0		112,394
Profit Margin	38.0	%	0.0	%	38.0	%	38.5	%	0.0	%	38.5	%	38.7	%	0.0	%	38.7	%	39.1	%	0.0	%	39.1	%	38.6	%	0.0	%	38.6	%

Other	(35,616	)			(35,616	)	(38,199	)			(38,199	)	(40,749	)			(40,749	)	(44,051	)			(44,051	)	(158,615	)	0		(158,615	)

Consolidated
Revenues	277,133				277,133		285,018				285,018		298,084				298,084		315,514				315,514		1,175,749		0		1,175,749
Expenses:	148,554				148,554		156,129				156,129		159,747				159,747		166,745				166,745		631,175		0		631,175

Operating profit	128,579		0		128,579		128,889		0		128,889		138,337		0		138,337		148,769		0		148,769		544,574		0		544,574
Profit margin	46.4	%	0.0	%	46.4	%	45.2	%	0.0	%	45.2	%	46.4	%	0.0	%	46.4	%	47.2	%	0.0	%	47.2	%	46.3	%	0.0	%	46.3	%

Corporate overhead expenses	9,922				9,922		8,927				8,927		9,772				9,772		10,221				10,221		38,842		0		38,842
LSV Employee Group LLC expenses	1,806				1,806		1,805				1,805		1,806				1,806		1,864				1,864		7,281		0		7,281

Income before interest and taxes	116,851		0		116,851		118,157		0		118,157		126,759		0		126,759		136,684		0		136,684		498,451		0		498,451
Operating margin	42.2	%			42.2	%	41.5	%			41.5	%	42.5	%			42.5	%	43.3	%			43.3	%	42.4	%			42.4	%
Equity in LSV	—		—		0				—		0				—		0		0		—		0		0		0		0

Net (loss) gain on investments	(242	)			(242	)	602				602		(2,226	)			(2,226	)	(512	)			(512	)	(2,378	)	0		(2,378	)
Interest income	2,654				2,654		3,098				3,098		3,397				3,397		4,372				4,372		13,521		0		13,521
Interest expense	(1,155	)			(1,155	)	(1,448	)			(1,448	)	(1,475	)			(1,475	)	(1,386	)			(1,386	)	(5,464	)	0		(5,464	)
Minority Interest	(32,956	)			(32,956	)	(35,171	)			(35,171	)	(37,731	)			(37,731	)	(41,104	)			(41,104	)	(146,962	)	0		(146,962	)
Other income	1,588				1,588		—				0		—				0		0				0		1,588		0		1,588

Income before taxes	86,740		0		86,740		85,238		0		85,238		88,724		0		88,724		98,054		0		98,054		358,756		0		358,756

Tax provision	31,834				31,834		27,327				27,327		28,175				28,175		34,430				34,430		121,766		0		121,766

Net income	54,906		0		54,906		57,911		0		57,911		60,549		0		60,549		63,624		0		63,624		236,990		0		236,990

Diluted earnings per share	0.54				0.54		0.57				0.57		0.60				0.60		0.62				0.62		2.33				2.33

Diluted shares outstanding	101,311				101,311		101,263				101,263		101,630				101,630		102,330				102,330		101,633				101,633

Basic earnings per share	0.56				0.56		0.59				0.59		0.61				0.61		0.64				0.64		2.40				2.40

Basic shares outstanding	98,758				98,758		98,495				98,495		98,572				98,572		98,904				98,904		98,682				98,682

Reclassification of 2006 Assets Under Management & Administration

Exhibit 99.2

SEI Investments Company

Reclassification of 2006 Assets Under Management & Administration (in thousands)

By Business Segment due to Business Segment Restructuring


	Mar 31, 2006		Jun 30, 2006		Sept 30, 2006		Dec 31, 2006
Private Banks:
Equity/Fixed Income prgms.	$	14,322	$	14,517	$	15,055	$	16,806
Collective Trust Fund prgm.		1,581		1,459		1,460		1,251
Liquidity Funds		7,139		7,627		7,707		8,513

Total assets under mgmt.	$	23,042	$	23,603	$	24,222	$	26,570
Client assets under admin.		19,775		19,210		15,001		14,738

Total assets under admin.	$	42,817	$	42,813	$	39,223	$	41,308
Investment Advisors:
Equity/Fixed Income prgms.	$	31,815	$	30,948	$	32,205	$	34,096
Collective Trust Fund prgm.		2,482		2,473		2,425		2,480
Liquidity Funds		1,017		1,306		1,263		1,421

Total assets under mgmt.	$	35,314	$	34,727	$	35,893	$	37,997
Institutional Investors:
Equity/Fixed Income prgms.	$	32,083	$	32,709	$	34,674	$	37,720
Collective Trust Fund prgm.		1,157		1,147		1,150		1,081
Liquidity Funds		4,076		3,823		4,167		3,371

Total assets under mgmt.	$	37,316	$	37,679	$	39,991	$	42,172
Investment Managers:
Equity/Fixed Income prgms.	$	33	$	34	$	34	$	30
Collective Trust Fund prgm.		9,096		8,923		9,009		8,675
Liquidity Funds		505		363		253		215

Total assets under mgmt.	$	9,634	$	9,320	$	9,296	$	8,920
Client assets under admin.		151,688		153,406		161,000		170,344

Total assets under admin.	$	161,322	$	162,726	$	170,296	$	179,264
Investments in New Businesses:
Total assets under mgmt.	$	617	$	626	$	685	$	805
Liquidity Funds		67		49		64		53

Total assets under admin.	$	684	$	675	$	749	$	858
LSV Asset Management:
Equity/Fixed Income prgms.		54,128		55,687		58,785		64,970

Consolidated:
Equity/Fixed Income prgms	$	132,998	$	134,521	$	141,438	$	154,427
Collective Trust Fund prgm.		14,316		14,002		14,044		13,487
Liquidity Funds		12,804		13,168		13,454		13,573

Total assets under mgmt.	$	160,118	$	161,691	$	168,936	$	181,487
Client assets under admin.		171,463		172,616		176,001		185,082

Total assets	$	331,581	$	334,307	$	344,937	$	366,569