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SEI Investments Company reports developments across financial technology, operations and asset management services for the financial services industry. News about SEIC commonly covers quarterly results, client outsourcing demand, wealth-management infrastructure, fund administration, asset management activity and professional services.
Recurring company updates include new client selections for the SEI Wealth Platform, expansion of SEI Access for alternative investments, digital onboarding for collective investment trusts, private-market and retirement-channel partnerships, and enterprise automation initiatives. SEI also issues investor conference updates and earnings-call materials tied to its operating performance and service platforms.
SEI (NASDAQ: SEIC) has launched its Systematic Core Strategies, aiming to modernize passive investing by allowing independent advisors to purchase a subset of stocks from broad market indices. This initiative enhances transparency and personalizes investment options for clients. The strategies include the U.S. Large Cap Core, U.S. All Cap Core, and International Developed Core (ADR), focusing on cost-effectiveness and active tax management. SEI's offerings target improved after-tax returns and greater control for advisors, supporting tailored investment solutions.
SEI Investments Company (NASDAQ:SEIC) reported fourth-quarter 2020 earnings with diluted EPS at $0.86, a 2% increase from $0.84 in Q4 2019. Revenues rose 5% to $443.7 million, while net income decreased 2% to $125.9 million. For the year, revenues grew 2% to $1.68 billion, but net income fell 11% to $447.3 million.
Sales events totaled $8.8 million in Q4, expected to yield $4.9 million in annual recurring revenues. The average assets under administration increased 16% to $779.7 billion.
SEI Investments Company (NASDAQ: SEIC) is scheduled to release its fourth-quarter 2020 earnings on January 27, 2021, after market close. A conference call will follow at 4:30 p.m. ET to discuss the financial results. Interested parties can access the call via the company's website. As of September 30, 2020, SEI manages approximately $1 trillion in assets.
SEI (NASDAQ:SEIC) announced its enhanced global investment stewardship strategy, integrating sustainability into shareholder engagement and proxy voting for its $248.1 billion assets under management as of Sept. 30, 2020. This strategy builds on SEI's extensive stewardship history, particularly in Europe, and involves collaboration with Sustainalytics to focus on sustainability themes. SEI also joined Climate Action 100+, aiming to engage significant greenhouse gas emitters to mitigate climate change risks.
On December 14, 2020, Nuveen announced the launch of the Nuveen TIAA Lifecycle Index CIT series, expanding its target date fund offerings. This new series consists of 13 funds, including 12 target-date funds spaced five years apart, catering to retirement dates from 2010 to 2065, alongside a retirement income fund. The CIT series will be managed by Nuveen's award-winning portfolio management team, enhancing their ability to serve plan sponsors. Nuveen currently manages approximately $535 billion in defined contribution assets, solidifying its position as a leading player in the retirement market.
SEI (NASDAQ: SEIC) announced a redesigned user interface (UI) for its Archway Platform℠ on December 14, 2020. The update enhances front-end technology, enabling large-scale innovations and improved user engagement. Key features include a refreshed appearance, branding options, streamlined settings, simplified navigation, and enhanced mobile reporting. The Archway Platform is recognized for its capabilities in family office services, managing $400 billion in assets. The enhancements aim to provide a modern experience while maintaining familiarity, benefiting clients and their end-users.
On Dec. 8, 2020, SEI Investments Company (NASDAQ: SEIC) declared a semi-annual dividend of $0.37 per share. The dividend will be payable to shareholders on record as of Dec. 21, 2020, with a payment date set for Jan. 7, 2021. As of Sept. 30, 2020, SEI managed approximately $1 trillion in assets, including $330 billion in assets under management and $755 billion in client assets under administration. This highlights SEI's strong position in the investment management sector.
On November 18, 2020, SEI (NASDAQ:SEIC) announced that U.S. Bank will implement the SEI Wealth Platform (SWP) for its Wealth Management and Investment Services. This integration aims to modernize U.S. Bank's operations, replacing the legacy TRUST 3000 platform. SEI has a long-standing relationship with U.S. Bank, enhancing efficiency and client services globally. The SEI Wealth Platform facilitates operations across 137 stock exchanges and supports numerous currencies, further solidifying SEI's role in the wealth management sector.
SEI (NASDAQ:SEIC) has appointed Dr. Alison Vincent as an independent non-executive director of its U.K. subsidiary, SEI Investments (Europe) Limited. With over 30 years of experience in technology and financial services, Alison previously held significant roles at major companies like Cisco and HSBC. She will also contribute to various committees, enhancing the board's expertise in technology, cybersecurity, and software engineering. Her appointment is expected to strengthen SEI's leadership as the company continues to innovate in asset management and processing solutions.
SEI (NASDAQ: SEIC) has announced enhancements to its Archway Platform through a partnership with Canoe Intelligence. This collaboration aims to automate workflows for alternative investment data collection, improving efficiency for family offices and financial institutions. The integration will allow clients to streamline data aggregation for private equity and hedge funds. SEI Family Office Services manages $400 billion in assets on the platform, supporting ultra-high-net-worth families with advanced technological solutions.