SEI Reports Third-Quarter 2026 Financial Results

Operating income grew faster than revenue, while a $32.5 million one-time charge weighed on quarterly results.

Rhea-AI Summary

SEI (NASDAQ:SEIC) reported third-quarter 2026 diluted earnings per share of $1.38, up 6% from the same quarter last year. Revenue rose 14% to $662.043 million, operating income increased 24% to $197.999 million, and operating margin reached 30%, versus 28%. Net income attributable to SEI increased 2% to $168.258 million. Adjusted diluted EPS rose 24% to $1.64.

Net sales events totaled $46.8 million, bringing the year-to-date total to $157.4 million. Investment Advisors revenue grew 26%, while Institutional Investors revenue fell 2%. Results included a $32.5 million one-time charge associated with the Stratos termination agreement to purchase its Mexican subsidiary, NSC. SEI repurchased $215.1 million of shares and ended the quarter with $399.8 million in cash. On October 20, the board added $800 million to the repurchase program, leaving approximately $926 million authorized.

34 points · 0 major

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0 major · 11 points

How the balance works

Positive

• Moderate pointThird-quarter revenue rose 14% to $662.043 million from the same quarter in 2025.
• Moderate pointThird-quarter operating income increased 24% to $197.999 million year over year.
• Moderate pointThird-quarter operating margin increased to 30% from 28% a year earlier.
• Moderate pointThird-quarter diluted EPS rose 6% to $1.38 year over year.
• Moderate pointThird-quarter net income attributable to SEI increased 2% to $168.258 million year over year.
• Moderate pointAdjusted third-quarter diluted EPS increased 24% to $1.64 year over year.
• Moderate pointAdjusted third-quarter operating income grew 25% to $208.493 million year over year.
• Moderate pointRepurchase authorization increased by $800 million on October 20, leaving approximately $926 million available.
• Moderate pointThird-quarter share repurchases totaled $215.1 million for 2.0 million shares, averaging $105.24 per share. 1.7% of market cap
• Moderate pointThird-quarter net sales events reached $46.8 million, the second-highest quarterly total in SEI history.
• Moderate pointAssets under administration, on platform and under advisement increased 4% during the quarter.

23 minor points

• Minor pointAdjusted third-quarter operating margin reached 31%, versus 29% a year earlier.
• Minor pointYear-to-date net sales events totaled $157.4 million, surpassing SEI's previous highest full-year total.
• Minor pointInvestment Managers third-quarter revenue increased 14% to $235.817 million year over year.
• Minor pointInvestment Managers third-quarter operating profit rose 14% to $92.255 million, with margin unchanged at 39%.
• Minor pointInvestment Managers generated $32.0 million of third-quarter net sales events.
• Minor pointPrivate Banks third-quarter revenue increased 11% to $160.439 million year over year.
• Minor pointPrivate Banks third-quarter operating profit rose 38% to $32.164 million year over year.
• Minor pointPrivate Banks third-quarter operating margin increased to 20% from 16% a year earlier.
• Minor pointPrivate Banks generated $12.6 million of third-quarter net sales events.
• Minor pointInvestment Advisors third-quarter revenue increased 26% to $185.378 million year over year.
• Minor pointInvestment Advisors third-quarter operating profit increased 11% to $75.666 million year over year.
• Minor pointInvestment Advisors generated $2.4 million of third-quarter net sales events.
• Minor pointInvestment Advisors excluding Stratos posted third-quarter revenue growth of 10% and operating profit growth of 7%.
• Minor pointInvestments in New Businesses third-quarter revenue increased 20% to $9.771 million year over year.
• Minor pointInvestments in New Businesses quarterly operating loss narrowed 78% to $817,000 year over year.
• Minor pointCorporate overhead expenses fell 16% to $36.140 million in the third quarter year over year.
• Minor pointNine-month revenue increased 14% to $1,925.843 million year over year.
• Minor pointNine-month operating income grew 26% to $584.501 million year over year.
• Minor pointNine-month operating margin increased to 30% from 28% a year earlier.
• Minor pointNine-month diluted EPS increased 3% to $4.37 year over year.
• Minor pointAdjusted nine-month operating income grew 28% to $614.127 million year over year.
• Minor pointAdjusted nine-month diluted EPS increased 27% to $4.73 year over year.
• Minor pointAdjusted nine-month operating margin increased to 32% from 28% a year earlier.

Negative

• Moderate pointStratos termination agreement generated a $32.5 million one-time charge associated with purchasing its Mexican subsidiary, NSC.
• Moderate pointInvestment Advisors third-quarter operating margin fell to 41% from 46% a year earlier.
• Minor pointAdditional third-quarter incentive compensation expense totaled $6.4 million.
• Minor pointInstitutional Investors third-quarter revenue declined 2% to $70.638 million year over year.
• Minor pointInstitutional Investors third-quarter operating profit declined 3% to $32.837 million year over year.

6 minor points

• Minor pointInstitutional Investors third-quarter operating margin fell to 46% from 47% a year earlier.
• Minor pointInstitutional Investors recorded negative $2.3 million in third-quarter net sales events.
• Minor pointEnding assets under management decreased 0.1% to $606.4 billion from the second quarter of 2026.
• Minor pointLSV assets declined 1% from the second quarter, with $5.3 billion of net outflows offsetting investment performance.
• Minor pointNine-month net income attributable to SEI declined 1% to $538.403 million year over year.
• Minor pointInvestments in New Businesses nine-month revenue declined 34% to $27.224 million year over year.

News Explained

SEI says its third-quarter repurchases of 2.0 million shares reduced its share count by 3%; that reduction has occurred, while the approximately $926 million authorization is available capacity, not completed purchases.

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Market Reaction – SEIC

$102.00 – $119.00 Day Range

$13.27B Mkt Cap at Last Price

On Oct 21, the day this news came out, the latest delayed price for SEIC is 1.96% above the previous close. The latest delayed price is $110.55.

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Key Figures

Revenue: $662,043 thousand; +14% Income from operations: $197,999 thousand; +24% Diluted EPS: $1.38; +6% +5 more

Revenue

$662,043 thousand; +14%

Q3 2026 vs. Q3 2025

Income from operations

$197,999 thousand; +24%

Q3 2026 vs. Q3 2025

Diluted EPS

$1.38; +6%

GAAP, Q3 2026 vs. Q3 2025

Operating margin

30%

GAAP, compared with 28% in Q3 2025

Adjusted income from operations

$208,493 thousand; +25%

Q3 2026 vs. Q3 2025

Adjusted diluted EPS

$1.64; +24%

Q3 2026 vs. Q3 2025

Adjusted operating margin

31%; up 260 basis points

Q3 2026 vs. Q3 2025

Additional share repurchase authorization

$800 million

Approved by the Board on October 20, 2026

Previous Earnings Reports

1 past event · Latest: Oct 22

Same Type 1 event

1. Oct 22

   Third-quarter earnings

   24h Move

   +0.1%

   Reported Q3 2025 revenue of $578.5 million, operating income of $160.0 million, and diluted EPS of $1.30.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

non-gaap, non-controlling interests, equity method investments, intangible amortization, +1 more

5 terms

non-gaap financial

"Non-GAAP Basis(1) Adjusted income from operations"

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

View in glossary

non-controlling interests financial

"Excludes non-controlling interests and other, net"

An ownership stake in a subsidiary held by outside shareholders rather than the parent company, representing the portion of that subsidiary’s assets and profits the parent does not control. For investors, it shows what part of consolidated earnings and equity belongs to others — like a roommate who owns part of a house — which affects how much value and profit per share are truly attributable to the parent company’s shareholders.

equity method investments financial

"non-controlling interest and earnings from equity method investments"

An equity method investment is an accounting approach used when a company owns a significant share of another company and can influence its decisions but does not fully control it; instead of listing the investment at cost, the investor records its share of the other company's profits or losses on its own income statement and adjusts the investment value on the balance sheet. For investors, this matters because it links the investor’s reported earnings and asset values directly to the financial performance of that partly-owned business, similar to how a partner’s gains affect a small business owner’s books.

intangible amortization financial

"including $7.3 million of acquired intangible amortization"

An accounting charge that spreads the cost of intangible assets—like patents, trademarks or customer lists—over their expected useful life, similar to slicing a single large bill into smaller annual portions. It lowers a company’s reported profit each year without directly using cash, so investors watch it to understand recurring earnings, asset values and how much of profit comes from real cash flow versus accounting allocations.

assets under advisement financial

"Assets under advisement increased 4% during the quarter"

Assets under advisement are the total value of investments for which a firm provides guidance or recommendations but does not have the authority to make trades or directly manage the money. Think of it like a paid consultant who advises on what to do with a homeowner’s portfolio but leaves final decisions and day-to-day control to the homeowner; for investors this metric shows a firm's market influence and potential for future fee growth, but those assets may be less sticky than funds the firm actually manages.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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OAKS, Pa., Oct 21, 2026 /PRNewswire/ -- SEI Investments Company (NASDAQ:SEIC) today announced financial results for the third quarter 2026. Relative to the third quarter 2025, EPS increased by 6%, and revenue and operating income grew by 14% and 24%, respectively, with operating margin increasing to 30%. On an adjusted basis, EPS and operating income grew 24% and 25%, respectively, with the adjusted operating margin increasing to 31%. In addition, on October 20, 2026, SEI's Board of Directors approved an increase in the stock repurchase program by an additional $800 million, increasing the available authorization under the program to approximately $926 million.

Consolidated Overview
(In thousands, except earnings per share)		For the Three Months Ended September 30,						For the Nine Months Ended September 30,
		2026		2025		%		2026		2025		%
U.S. GAAP Basis
Revenues		$662,043		$578,511		14 %		$1,925,843		$1,689,456		14 %
Income from operations		197,999		159,961		24 %		584,501		465,693		26 %
Operating margin		30 %		28 %		7 %		30 %		28 %		7 %
Net income attributable to SEI Investments		168,258		164,204		2 %		538,403		542,804		(1) %
Diluted earnings per share		$1.38		$1.30		6 %		$4.37		$4.25		3 %
Non-GAAP Basis(1)
Adjusted income from operations		$208,493		$166,896		25 %		$614,127		$480,054		28 %
Adjusted diluted earnings per share		$1.64		$1.32		24 %		$4.73		$3.71		27 %
Adjusted operating margin		31 %		29 %		7 %		32 %		28 %		14 %

(1) See Non-GAAP Information and Reconciliations on pgs 11-12

"SEI's third-quarter results reinforce our confidence in the strategy and operating model we have put in place. Our growth is broad-based, our client relationships are becoming deeper and more strategic, and our year-to-date sales results have already surpassed the highest full-year total in SEI's history," said CEO Ryan Hicke.

"We are increasingly engaging with clients not as a vendor, but as a growth and transformation partner, bringing together our technology, operations, data, investment solutions, and expertise to help them achieve their most important business objectives. We remain focused on executing with discipline, investing where we can create differentiated value, and building a more scalable business that can deliver durable growth for our clients and shareholders."

Summary of Third-Quarter Results by Business Segment
(In thousands)		For the Three Months Ended September 30,						For the Nine Months Ended September 30,
		2026		2025		%		2026		2025		%
Investment Managers:
Revenues		$235,817		$207,050		14 %		$684,213		$594,165		15 %
Expenses		143,562		125,934		14 %		413,479		364,781		13 %
Operating Profit		92,255		81,116		14 %		270,734		229,384		18 %
Operating Margin		39 %		39 %				40 %		39 %
Private Banks:
Revenues		160,439		143,994		11 %		469,580		423,157		11 %
Expenses		128,275		120,763		6 %		373,526		354,236		5 %
Operating Profit		32,164		23,231		38 %		96,054		68,921		39 %
Operating Margin		20 %		16 %				20 %		16 %
Investment Advisors:
Revenues		185,378		147,465		26 %		532,970		421,234		27 %
Expenses		107,678		79,128		36 %		305,901		227,384		35 %
Non-controlling interests and other, net (A)		2,034		—		NM*		4,732		—		NM
Operating Profit		75,666		68,337		11 %		222,337		193,850		15 %
Operating Margin		41 %		46 %				42 %		46 %
Institutional Investors:
Revenues		70,638		71,826		(2) %		211,856		209,675		1 %
Expenses		37,801		38,068		(1) %		111,764		109,795		2 %
Operating Profit		32,837		33,758		(3) %		100,092		99,880		— %
Operating Margin		46 %		47 %				47 %		48 %
Investments in New Businesses:
Revenues		9,771		8,176		20 %		27,224		41,225		(34) %
Expenses		10,588		11,863		(11) %		29,820		48,789		(39) %
Operating Loss		(817)		(3,687)		(78) %		(2,596)		(7,564)		(66) %
Totals:
Revenues		$662,043		$578,511		14 %		$1,925,843		$1,689,456		14 %
Expenses		427,904		375,756		14 %		1,234,490		1,104,985		12 %
Corporate Overhead Expenses		36,140		42,794		(16) %		106,852		118,778		(10) %
Income from operations (B)		$197,999		$159,961		24 %		$584,501		$465,693		26 %
Adjusted income from operations		$208,493		$166,896		25 %		$614,127		$480,054		28 %

(A) Primarily includes non-controlling interest and earnings from equity method investments.

(B) Excludes non-controlling interests and other, net

* Variances noted "NM" indicate the percent change is not meaningful.

Third-Quarter Business Highlights: 

• SEI delivered strong third-quarter results, with diluted EPS increasing 6% compared to the prior year. On an adjusted basis, diluted EPS increased 24% to $1.64, driven by revenue growth, margin expansion, and a 3% reduction in share count from SEI's share repurchase program.
  • Third-quarter operating income included $6.4 million of additional incentive compensation expense associated with the strength of year-to-date performance and the current outlook for the remainder of the year.
• Third-quarter net sales events totaled $46.8 million, the second-highest quarterly level in SEI history, bringing year-to-date net sales events to $157.4 million.
  • Investment Managers led the quarter with $32.0 million of net sales events, with contributions from both new client wins and expansions with existing clients.
  • Private Banks generated $12.6 million of net sales events, reflecting continued demand across enterprise transformation initiatives, professional services, Data Cloud capabilities, and asset management solutions.
  • Investment Advisors generated $2.4 million of net sales events, while Institutional Investors recorded negative $2.3 million of net sales events.
• Consolidated revenues and operating income increased by 14% and 24%, respectively, from Q3 2025. On an adjusted basis, operating income increased by 25% with adjusted operating margins increasing to 31%, up 260 basis points from Q3 2025.
  • Private Banking revenue increased 11% and operating profit increased 38%, demonstrating strong operating leverage as the business continues to grow, including increased adoption of professional services.
  • Investment Managers revenue and operating profit increased 14% as prior sales success continued to convert into revenue and demand for outsourcing solutions remained strong. Absent the elevated incentive compensation accrual, Investment Managers operating profit would have increased by 17% vs. the prior year.
  • Investment Advisors revenue increased 26% and operating profit increased 11%, benefiting from Stratos and growth in the underlying Advisors business. Stratos contributed $23.3 million of revenue and $4.4 million of operating profit, including $7.3 million of acquired intangible amortization. Excluding Stratos, Advisors revenue increased 10% and operating profit increased 7%. SEI's integrated cash program contributed $20.8 million during the quarter, matching Q3 2025.
  • Institutional Investors revenue declined 2% and operating profit declined 3%, reflecting prior client outflows.
• Ending assets under management decreased 0.1% to $606.4 billion from Q2 2026, as market values and net flows were little changed. Assets under administration, assets on platform, and assets under advisement increased 4% during the quarter, driven primarily by continued growth in Investment Managers, including funding from recently won mandates and additional client capital deployment.
• LSV assets declined 1% from Q2 as strong investment performance was offset by $5.3 billion of net outflows. Performance fees totaled $4.5 million during the quarter at SEI's share.
• SEI repurchased 2.0 million shares of common stock for $215.1 million at an average price of $105.24 per share. SEI ended the quarter with $399.8 million of cash and recently authorized an additional $800 million of share repurchase capacity.
• Other expenses consist of a $32.5 million one-time charge associated with the termination agreement with Stratos to purchase their Mexican based subsidiary, NSC.

Earnings Conference Call
A conference call and presentation to review earnings is scheduled for 5 p.m. Eastern time on
Wednesday, October 21, 2026. A live webcast of the call will be available on SEI's Investor Relations website at ir.seic.com/events-presentations/events, where a replay will also be posted following the call.

Participants may also access the call by telephone by dialing 877-407-8293 (in the U.S.) or +1 201-689-8349 (International). Please dial in at least 10 minutes prior to the start of the call.

About SEI^®
SEI (NASDAQ:SEIC) is a leading global provider of financial technology, operations, and asset management services within the financial services industry. SEI tailors its solutions and services to help clients more effectively deploy their capital—whether that's money, time, or talent—so they can better serve their clients and achieve their growth objectives. As of September 30, 2026, SEI manages, advises, or administers approximately $2.1 trillion in assets. For more information, visit seic.com.

This release contains forward-looking statements within the meaning of 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," "can," "expect," "believe," "remain," and "continue" or "appear." Our forward-looking statements include our current expectations as to:

• whether year-end performance will be of a level sufficient to justify incentive compensation awards consistent with increased accruals;
• the level of share buy-backs;
• the growth trajectory of our assets under administration and Private Banking business;
• the demand for outsourcing services and enterprise transformation initiatives; 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.

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. We undertake no obligation to update our forward-looking statements. 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 December 31, 2025, filed with the Securities and Exchange Commission.

Investor contact:		Media contact:
Brad Burke		Alicia Rudd
SEI		SEI
+1610-676-5350		+1 610-676-3887
bburke2@seic.com		arudd@seic.com

 

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,
		2026		2025		2026		2025
Asset management, admin. and distribution fees		$531,417		$461,964		$1,542,883		$1,331,650
Information processing and software servicing fees		130,626		116,547		382,960		357,806
Total revenues		662,043		578,511		1,925,843		1,689,456
Subadvisory, distribution and other asset mgmt. costs		61,194		55,072		177,920		152,313
Software royalties and other information processing costs		9,878		9,434		29,487		27,706
Compensation, benefits and other personnel		220,069		203,739		634,223		594,097
Stock-based compensation		16,000		13,956		46,809		41,985
Consulting, outsourcing and professional fees		58,394		54,401		169,066		167,344
Data processing and computer related		49,388		41,569		141,123		122,689
Facilities, supplies and other costs		22,318		20,982		64,093		61,481
Amortization		19,684		11,912		57,175		33,071
Depreciation		7,119		7,485		21,446		23,077
Total expenses		464,044		418,550		1,341,342		1,223,763
Income from operations		197,999		159,961		584,501		465,693
Net gain from investments		1,206		1,992		4,387		4,244
Interest and dividend income		6,866		10,207		21,040		29,711
Interest expense		(606)		(109)		(1,641)		(386)
Gain on sale of business		—		—		—		94,412
Other (expense) income		(32,500)		4,922		(32,050)		9,422
Equity in earnings of unconsolidated affiliates		39,819		31,903		110,989		94,290
Net gain from consolidated variable interest entities		1,809		1,845		11,363		1,845
Income before income taxes		214,593		210,721		698,589		699,231
Income taxes		43,346		46,135		151,015		156,045
Net income		$171,247		$164,586		$547,574		$543,186
Less: Net income attributable to non-controlling interests		2,989		382		9,171		382
Net income attributable to SEI Investments Company		$168,258		$164,204		$538,403		$542,804
Basic earnings per common share		$1.42		$1.33		$4.48		$4.35
Shares used to calculate basic earnings per share		118,415		123,099		120,138		124,710
Diluted earnings per common share		$1.38		$1.30		$4.37		$4.25
Shares used to calculate diluted earnings per share		122,012		126,325		123,280		127,684
Dividends declared per common share		$—		$—		$0.52		$0.49

 

SEI INVESTMENTS COMPANY CONSOLIDATED CONDENSED BALANCE SHEETS (In thousands) (Unaudited)
		September 30,		December 31,
		2026		2025
Assets
Current Assets:
Cash and cash equivalents		$399,766		$399,804
Receivables from investment products		59,278		63,317
Receivables, net		851,279		709,748
Securities owned		25,750		33,777
Other current assets		75,611		66,691
Total Current Assets		1,411,684		1,273,337
Property and Equipment, net		153,496		150,434
Operating Lease Right-of-Use Assets		30,186		26,447
Capitalized Software, net		224,189		234,272
Investments		335,895		428,004
Assets of Consolidated Variable Interest Entities		223,785		183,994
Goodwill		392,205		354,989
Intangible assets, net		481,727		368,272
Other Assets, net		181,472		240,095
Total Assets		$3,434,639		$3,259,844
Liabilities, Redeemable Non-controlling Interests and Equity
Current Liabilities:
Accounts payable		$13,905		$5,404
Accrued liabilities		284,920		359,823
Current portion of long-term debt		5,754		—
Current portion of long-term operating lease liabilities		9,124		8,677
Deferred revenue		13,648		13,307
Total Current Liabilities		327,351		387,211
Long-term Debt		30,951		—
Liabilities of Consolidated Variable Interest Entities		136,536		108,504
Other Long-term Liabilities		62,503		60,353
Total Liabilities		557,341		556,068
Redeemable Non-controlling Interests		323,105		243,959
Equity:
Shareholders' Equity:
Common stock, $0.01 par value, 750,000 shares authorized; 118,942 and 122,232 shares issued and outstanding		1,189		1,222
Capital in excess of par value		1,758,970		1,678,787
Retained earnings		785,633		792,280
Accumulated other comprehensive loss, net		(33,229)		(24,505)
Total SEI Shareholders' Equity		2,512,563		2,447,784
Non-controlling interests		41,630		12,033
Total Equity		$2,554,193		$2,459,817
Total Liabilities, Redeemable Non-controlling Interests and Equity		$3,434,639		$3,259,844

 

SEI INVESTMENTS COMPANY CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited)
		For the Nine Months  Ended September 30,
		2026		2025
Cash flows from operating activities:
Net income		$547,574		$543,186
Adjustments to reconcile net income to net cash provided by operating activities:		17,753		(61,922)
Net cash provided by operating activities		$565,327		$481,264
Net cash (used in) provided by investing activities		($32,087)		$40,497
Net cash used in financing activities		($512,509)		($516,474)
Effect of exchange rate changes on cash, cash equivalents		(6,103)		11,953
Net change in cash and cash equivalents and cash and cash equivalents held at consolidated variable interest entities		14,628		17,240
Cash, cash equivalents and cash and cash equivalents held at consolidated variable interest entities, beginning of period		470,595		840,193
Cash, cash equivalents and cash and cash equivalents held at consolidated variable interest entities, end of period		$485,223		$857,433
Reconciliation of Cash, cash equivalents and cash and cash equivalents held at consolidated variable interest entities to the Consolidated Balance Sheets:		September 30,		December 31,
		2026		2025
Cash and cash equivalents		$399,766		$399,804
Cash and cash equivalents held at consolidated variable interest entities		85,457		70,791
Total cash and cash equivalents and cash and cash equivalents held at consolidated variable interest entities		$485,223		$470,595

 

ENDING ASSET BALANCES (In millions)  (Unaudited)
		Sep. 30		Dec. 31		Mar. 31		Jun. 30		Sep. 30
		2025		2025		2026		2026		2026
Investment Managers:
Collective trust fund programs (A)		$237,964		$243,244		$243,900		$265,265		$267,693
Liquidity funds		418		579		536		464		493
Total assets under management		$238,382		$243,823		$244,436		$265,729		$268,186
Client assets under administration		1,204,843		1,239,606		1,284,781		1,351,307		1,400,810
Total assets		$1,443,225		$1,483,429		$1,529,217		$1,617,036		$1,668,996
Private Banks:
Equity and fixed-income programs		$28,408		$29,832		$29,753		$32,520		$32,949
Collective trust fund programs		3		3		4		4		4
Liquidity funds		2,802		2,099		2,178		1,709		1,646
Total assets under management		$31,213		$31,934		$31,935		$34,233		$34,599
Client assets under administration		8,902		9,115		9,143		9,405		9,784
Total assets		$40,115		$41,049		$41,078		$43,638		$44,383
Investment Advisors:
Equity and fixed-income programs		$85,245		$86,879		$86,612		$94,390		$94,470
Liquidity funds		3,391		3,561		3,485		3,391		3,306
Total Platform assets under management		$88,636		$90,440		$90,097		$97,781		$97,776
Platform-only assets		32,152		33,582		34,070		38,308		38,464
Platform-only assets-deposit program		2,165		2,461		2,294		2,358		2,326
Total Platform assets		$122,953		$126,483		$126,461		$138,447		$138,566
Institutional Investors:
Equity and fixed-income programs		$82,676		$84,254		$82,195		$86,690		$84,533
Liquidity funds		1,580		1,604		1,503		1,559		1,485
Total assets under management		$84,256		$85,858		$83,698		$88,249		$86,018
Client assets under advisement		6,564		3,598		3,549		3,790		3,776
Total assets		$90,820		$89,456		$87,247		$92,039		$89,794
Investments in New Businesses:
Equity and fixed-income programs		$2,999		$3,044		$3,087		$3,351		$3,289
Liquidity funds		244		316		252		236		404
Total assets under management		$3,243		$3,360		$3,339		$3,587		$3,693
Client assets under advisement		2,452		2,389		2,185		2,506		2,613
Total assets		$5,695		$5,749		$5,524		$6,093		$6,306
LSV Asset Management:
Equity and fixed-income programs (B)		$95,801		$99,196		$100,567		$117,146		$116,080
Stratos Wealth Holdings (E)		$—		$38,637		$38,291		$41,889		$41,655
Total:
Equity and fixed-income programs (C)		$295,129		$303,205		$302,214		$334,097		$331,321
Collective trust fund programs		237,967		243,247		243,904		265,269		267,697
Liquidity funds		8,435		8,159		7,954		7,359		7,334
Total assets under management		$541,531		$554,611		$554,072		$606,725		$606,352
Client assets under advisement		9,016		5,987		5,734		6,296		6,389
Client assets under administration (D)		1,213,745		1,248,721		1,293,924		1,360,712		1,410,594
Platform-only assets		34,317		36,043		36,364		40,666		40,790
Stratos Wealth Holdings		—		38,637		38,291		41,889		41,655
Total assets		$1,798,609		$1,883,999		$1,928,385		$2,056,288		$2,105,780

(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 $1.4 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, 2026).
(C)	Equity and fixed-income programs include $9.0 billion of assets in various asset allocation funds (as of September 30, 2026).
(D)	In addition to the assets presented, SEI also administers an additional $16.1 billion in Funds of Funds assets on which SEI does not earn an administration fee (as of September 30, 2026).
(E)	Prior period asset balances have been revised to conform with the current period presentation.

 

AVERAGE ASSET BALANCES (In millions) (Unaudited)
		3rd Qtr.		4th Qtr.		1st Qtr.		2nd Qtr.		3rd Qtr.
		2025		2025		2026		2026		2026
Investment Managers:
Collective trust fund programs (A)		$231,088		$240,285		$248,851		$259,655		$267,834
Liquidity funds		385		492		565		506		569
Total assets under management		$231,473		$240,777		$249,416		$260,161		$268,403
Client assets under administration		1,174,961		1,225,392		1,280,581		1,332,630		1,386,909
Total assets		$1,406,434		$1,466,169		$1,529,997		$1,592,791		$1,655,312
Private Banks:
Equity and fixed-income programs		$28,051		$29,087		$30,696		$32,005		$33,201
Collective trust fund programs		3		3		3		4		4
Liquidity funds		2,834		2,371		2,150		1,717		1,680
Total assets under management		$30,888		$31,461		$32,849		$33,726		$34,885
Client assets under administration		8,665		8,977		9,282		9,455		9,602
Total assets		$39,553		$40,438		$42,131		$43,181		$44,487
Investment Advisors:
Equity and fixed-income programs		$82,735		$85,896		$88,403		$92,424		$95,439
Liquidity funds		3,378		3,418		3,518		3,338		3,292
Total Platform assets under management		$86,113		$89,314		$91,921		$95,762		$98,731
Platform-only assets		30,874		33,022		34,485		36,768		38,662
Platform-only assets-deposit program		2,136		2,135		2,309		2,273		2,297
Total Platform assets		$119,123		$124,471		$128,715		$134,803		$139,690
Institutional Investors:
Equity and fixed-income programs		$80,802		$83,739		$84,393		$85,302		$86,212
Liquidity funds		1,810		1,947		1,941		1,702		1,700
Total assets under management		$82,612		$85,686		$86,334		$87,004		$87,912
Client assets under advisement		6,274		5,413		3,657		3,703		3,852
Total assets		$88,886		$91,099		$89,991		$90,707		$91,764
Investments in New Businesses:
Equity and fixed-income programs		$2,934		$3,021		$3,106		$3,260		$3,317
Liquidity funds		255		288		319		258		407
Total assets under management		$3,189		$3,309		$3,425		$3,518		$3,724
Client assets under advisement		2,428		2,408		2,335		2,425		2,632
Total assets		$5,617		$5,717		$5,760		$5,943		$6,356
LSV Asset Management:
Equity and fixed-income programs (B)		$92,969		$97,304		$104,619		$115,862		$118,889
Stratos Wealth Holdings (E)		$—		$38,507		$39,317		$40,559		$41,902
Total:
Equity and fixed-income programs (C)		$287,491		$299,047		$311,217		$328,853		$337,058
Collective trust fund programs		231,091		240,288		248,854		259,659		267,838
Liquidity funds		8,662		8,516		8,493		7,521		7,648
Total assets under management		$527,244		$547,851		$568,564		$596,033		$612,544
Client assets under advisement		8,702		7,821		5,992		6,128		6,484
Client assets under administration (D)		1,183,626		1,234,369		1,289,863		1,342,085		1,396,511
Platform-only assets		33,010		35,157		36,794		39,041		40,959
Stratos Wealth Holdings		—		38,507		39,317		40,559		41,902
Total assets		$1,752,582		$1,863,705		$1,940,530		$2,023,846		$2,098,400

(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 2026 include $1.4 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 $8.9 billion of average assets in various asset allocation funds during third-quarter 2026.
(D)	In addition to the assets presented, SEI also administers an additional $15.2 billion of average assets in Funds of Funds assets during third-quarter 2026 on which SEI does not earn an administration fee.
(E)	Prior period average assets have been revised to conform with the current period presentation.

 

SALES EVENTS (In thousands) (Unaudited)
Net Recurring Sales Events
		3rd Qtr.		4th Qtr.		1st Qtr.		2nd Qtr.		3rd Qtr.
		2025		2025		2026		2026		2026
Investment Processing-related Businesses:
Investment Managers		$27,460		$19,150		$46,848		$27,856		$28,606
Private Banks		(6,713)		5,670		1,571		4,207		5,598
Total Investment Processing-related Businesses		$20,747		$24,820		$48,419		$32,063		$34,204
Asset Management-related Businesses:
Private Banks-AMD		($1,674)		($1,567)		$1,983		$2,938		$2,462
Investment Advisors		1,230		(728)		7,044		(1,685)		2,440
Institutional Investors		(594)		(5,025)		(2,935)		(1,102)		(2,315)
Total Asset Management-related Businesses		($1,038)		($7,320)		$6,092		$151		$2,587
Newer Initiatives:
Investments in New Businesses		$1,208		$1,248		$2,631		$361		$1,811
Total Net Recurring Sales Events		$20,917		$18,748		$57,142		$32,575		$38,602
Professional Services Sales Events
		3rd Qtr.		4th Qtr.		1st Qtr.		2nd Qtr.		3rd Qtr.
		2025		2025		2026		2026		2026
Investment Processing-related Businesses:
Investment Managers		$2,465		$1,347		$3,672		$4,179		$3,406
Private Banks		7,087		23,409		4,950		5,934		4,514
Total Investment Processing-related Businesses		$9,552		$24,756		$8,622		$10,113		$7,920
Newer Initiatives:
Investments in New Businesses		$71		$95		$1,389		$768		$272
Total Professional Services Sales Events		$9,623		$24,851		$10,011		$10,881		$8,192
Total Sales Events
		3rd Qtr.		4th Qtr.		1st Qtr.		2nd Qtr.		3rd Qtr.
		2025		2025		2026		2026		2026
Investment Processing-related Businesses:
Investment Managers		$29,925		$20,497		$50,520		$32,035		$32,012
Private Banks		374		29,079		6,521		10,141		10,112
Total Investment Processing-related Businesses		$30,299		$49,576		$57,041		$42,176		$42,124
Asset Management-related Businesses:
Private Banks-AMD		($1,674)		($1,567)		$1,983		$2,938		$2,462
Investment Advisors		1,230		(728)		7,044		(1,685)		2,440
Institutional Investors		(594)		(5,025)		(2,935)		(1,102)		(2,315)
Total Asset Management-related Businesses		($1,038)		($7,320)		$6,092		$151		$2,587
Newer Initiatives:
Investments in New Businesses		$1,279		$1,343		$4,020		$1,129		$2,083
Total Sales Events		$30,540		$43,599		$67,153		$43,456		$46,794

 

Non-GAAP Information & Reconciliations
(In thousands, except per share data) (Unaudited)

We present certain non‑GAAP financial measures to supplement the consolidated financial statements prepared in accordance with GAAP. Management believes these measures provide useful information to investors by enhancing the understanding of our core operating performance and facilitating comparisons across reporting periods. These non‑GAAP measures are also used by our management to evaluate operating results, allocate resources, and assess performance against strategic objectives.

These non-GAAP financial measures should be viewed in addition to, and not as a substitute for, reported results prepared in accordance with GAAP.

The following schedules reconcile U.S. GAAP financial measures to non-GAAP financial measures for the three and nine months ended September 30, 2026 and 2025:

		For the Three Months Ended September 30,				For the Nine Months Ended September 30,
		2026		2025		2026		2025
Net income attributable to SEI Investments Company (U.S. GAAP basis)		$168,258		$164,204		$538,403		$542,804
Non-GAAP adjustments:
Acquisition-related:
Third party costs (A)		—		3,767		—		4,587
Intangible assets amortization & impairments (B)		7,379		3,168		21,070		9,774
Total acquisition-related		7,379		6,935		21,070		14,361
Gain on sale of asset/business (C)		—		—		—		(94,412)
Litigation settlements and insurance proceeds (D)		—		(4,350)		3,808		(8,850)
Other individually significant items (E)		32,500		—		32,500		—
Income tax effect (F)		(8,167)		(567)		(12,058)		19,787
Adjusted net income attributable to SEI Investments Company (non- GAAP basis)		$199,970		$166,222		$583,723		$473,690
Diluted EPS (U.S. GAAP basis)		$1.38		$1.30		$4.37		$4.25
Adjusted diluted EPS (non-GAAP basis)		$1.64		$1.32		$4.73		$3.71
Diluted weighted average shares outstanding		122,012		126,325		123,280		127,684
Income from operations (U.S. GAAP Basis)		$197,999		$159,961		$584,501		$465,693
Operating margin (U.S. GAAP Basis)		30 %		28 %		30 %		28 %
Non-GAAP adjustments:
Acquisition-related:
Third party costs (A)		—		3,767		—		4,587
Intangible assets amortization & impairments (B)		10,494		3,168		29,626		9,774
Total acquisition-related		10,494		6,935		29,626		14,361
Adjusted income from operations (non-GAAP Basis)		$208,493		$166,896		$614,127		$480,054
Adjusted operating margin (non-GAAP basis)		31 %		29 %		32 %		28 %

(A)	This non-GAAP adjustment removes incremental and directly attributable costs incurred to execute acquisitions, such as third-party advisory, legal, accounting, valuation, and due diligence. For 2025, this non-GAAP adjustment consisted of the legal costs, advisory fees, and due diligence fees in relation to the Stratos acquisition. Management believes adjusting for these charges helps the reader's ability to understand our core operating results and increases comparability quarter to quarter.
(B)	This non-GAAP adjustment removes the impact of amortization expense associated with acquired intangible assets (e.g., customer relationships, technology, trade names). This non-GAAP adjustment removes only amortization recorded in the current period related to acquired intangibles from prior acquisitions. The non-GAAP adjustments in 2026 include the amortization of the acquired intangibles from the Stratos acquisition, which closed in December 2025. Management included the Stratos related amortization expense net of the 42.5% NCI adjustment for the adjusted EPS calculation. However, this adjustment is not inclusive of the NCI portion for adjusted operating margin. The associated revenues are not adjusted. Management believes adjusting for these charges helps the reader's ability to understand our core operating results and increases comparability quarter to quarter.
(C)	This non-GAAP adjustment removes realized gains on the sale of assets owned or entities under our control, out of the normal course of business. In 2025, the adjustment consisted of the realized gain from the sale of Family Office Services (FOS). Management believes adjusting for these gains helps the reader's ability to understand our core operating results and increases comparability quarter to quarter.
(D)	This non-GAAP adjustment removes individually significant litigation settlements and insurance proceeds. In 2026, this non-GAAP adjustment was related to litigation settlements. In 2025, this non-GAAP adjustment consisted of a $4.5M settlement related to a vendor matter and a $4.4M insurance recovery. Management included both of these transactions as non-GAAP adjustments since they were both out of the normal course of business. Management believes adjusting for these items helps the reader's ability to understand our core operating results and increases comparability quarter to quarter.
(E)	This non-GAAP adjustment removes other items that are individually significant and highly unusual. In 2026, this non-GAAP adjustment consisted of the amount recognized related to the mutually agreed Termination Agreement between the Company and Stratos with respect to the previously reported obligations to proceed with the closing of the purchase of the equity of a Mexican RIA owned by Stratos. Management believes this charge is outside the normal course of business and not indicative of ongoing operating performance. Excluding this item enhances comparability between periods and assists investors in evaluating SEI's core operating results.
(F)	Income tax effects are presented as a separate reconciling item (not netted within each adjustment). For performance measures, the tax effect reflects current and deferred tax expense commensurate with the adjusted measure of profitability. The methodology used (e.g., statutory rate, effective rate, or discrete item approach) is consistently applied. All of the above items use a systematic approach.

 

View original content:https://www.prnewswire.com/news-releases/sei-reports-third-quarter-2026-financial-results-302915961.html

SOURCE SEI Investments Company

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were SEI's third-quarter 2026 earnings and revenue?

SEI reported diluted EPS of $1.38 and revenue of $662.043 million for the third quarter of 2026. EPS increased 6% and revenue increased 14% from the third quarter of 2025. Adjusted diluted EPS was $1.64, up 24% year over year.

How much did SEI increase its share repurchase authorization?

SEI's board approved an additional $800 million of repurchase authorization on October 20, 2026, bringing available authorization to approximately $926 million. During the third quarter, SEI repurchased 2.0 million common shares for $215.1 million at an average price of $105.24 per share.

How much did Stratos contribute to SEI's third-quarter 2026 results?

Stratos contributed $23.3 million of revenue and $4.4 million of operating profit in the third quarter, including $7.3 million of acquired intangible amortization. Excluding Stratos, Investment Advisors revenue increased 10% and operating profit increased 7% year over year.

How much did SEI's integrated cash program contribute in the third quarter of 2026?

SEI's integrated cash program contributed $20.8 million during the third quarter of 2026, matching its contribution in the third quarter of 2025.