Welcome to our dedicated page for Sei Invts news (Ticker: SEIC), a resource for investors and traders seeking the latest updates and insights on Sei Invts stock.
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.
On October 6, 2020, SEI (NASDAQ: SEIC) announced a new 'Estimated Taxes Saved' report aimed at independent financial advisors. This automated report helps advisors assess tax savings from SEI's Tax-Managed ETF Strategy and portfolio management. It provides insights into account gains, losses, and transactions impacting tax savings, and can be generated for various timeframes. The introduction of this report aims to strengthen advisor-client relationships by facilitating informed discussions regarding tax efficiency, especially during market volatility.
SEI (NASDAQ: SEIC) announced the successful transition of Dorsey & Whitney Trust Company and Hills Bank and Trust Company to the SEI Wealth Platform (SWP), replacing its legacy platform, TRUST 3000. The transition was executed remotely on schedule, demonstrating SEI's commitment to maintaining operations during challenging times. The SWP offers integrated technology solutions for wealth management, enhancing efficiency and client services. As of Q2 2020, SEI has 53 signed global clients for SWP, with 45 already installed.
SEI (NASDAQ: SEIC) announced its participation in the Morningstar's "Management Behind the Moat" virtual conference on Sept. 29, 2020. CFO Dennis McGonigle and CIO Ryan Hicke will engage in a fireside chat at 1 p.m. ET, focusing on SEI's five business segments and growth opportunities. One-on-one and group meetings will also be conducted. Interested analysts and portfolio managers are encouraged to register through Morningstar. A replay will be accessible on SEI's site until Dec. 28, 2020.
SEI (NASDAQ:SEIC) announced an expansion of services targeting institutional investors, introducing its Enhanced CIO offering. This suite supports in-house investment management by providing custom operational assistance, risk management tools, and performance reporting. SEI serves over 470 institutional clients globally, managing $1 trillion in assets as of June 30, 2020. The Enhanced CIO aims to streamline operational processes, allowing investors to concentrate on portfolio management. This strategic move aims to enhance SEI's competitive edge in the investment management sector.
SEI Investments Company (NASDAQ:SEIC) reported its second-quarter 2020 results with diluted earnings per share of $0.68, down 17% from $0.82 in Q2 2019. Total revenues decreased by 2% to $400.6 million, while net income fell 20% to $101.1 million. The firm noted notable declines in revenues from Private Banks and Investment Advisors by 7% and 6%, respectively. However, the Investment Managers segment experienced a 9% revenue increase, helping offset some losses. The company repurchased 1.6 million shares for $89.5 million during the quarter.
SEI Investments Company (NASDAQ: SEIC) will release its second-quarter 2020 earnings on July 22, 2020, after market closure. A conference call to discuss the results is scheduled for 4:30 p.m. Eastern time. As of March 31, 2020, SEI manages $920 billion in assets, including $283 billion in assets under management and $632 billion in client assets under administration. The public may access the call via this link and find replays at designated numbers.