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SEI Investments Q3 adjusted EPS rises 24% to $1.64

The board’s authorization increase leaves approximately $925.6 million available under the share repurchase program.

Filing Impact
(High)
Filing Sentiment

Sentiment and the balance of points

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Form Type
8-K

Rhea-AI Filing Summary

SEI Investments Company reported third-quarter 2026 revenue of $662.043 million, up 14% from a year earlier, and operating income of $197.999 million, up 24%. Diluted earnings per share rose 6% to $1.38; adjusted diluted EPS rose 24% to $1.64, and adjusted operating income increased 25% to $208.493 million. Adjusted operating margin reached 31%, up 260 basis points from Q3 2025. Other expense included a $32.5 million one-time charge associated with a termination agreement with Stratos regarding the planned purchase of NSC, a Mexican-based subsidiary.

Investment Advisors revenue rose 26%, Investment Managers 14% and Private Banks 11%; Institutional Investors revenue declined 2%. Sales events totaled $46.8 million for the quarter and $157.4 million year to date. SEI repurchased 2.0 million shares for $215.1 million at an average $105.24 per share. The board approved another $800.0 million for the repurchase program, raising available authorization to approximately $925.6 million. Assets under management were $606.4 billion at quarter-end, down 0.1% from Q2; assets managed, advised or administered totaled approximately $2.1 trillion as of September 30, 2026.

2 points · 0 major

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Positive

  • Moderate pointThird-quarter revenue rose 14% and operating income rose 24% year over year.
  • Moderate pointAdjusted diluted EPS rose 24% year over year.

Negative

  • None.

Insights

Analyzing...

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Revenue $662.043 million Q3 2026; up 14% from Q3 2025
Income from operations $197.999 million Q3 2026; up 24% from Q3 2025
Diluted EPS $1.38 Q3 2026; up 6% from Q3 2025
Adjusted diluted EPS $1.64 Q3 2026; up 24% from Q3 2025
Sales events $46.8 million Third quarter 2026
Additional repurchase authorization $800.0 million Board-approved increase on October 20, 2026
Available repurchase authorization Approximately $925.6 million Under the program after the board-approved increase
One-time termination-related charge $32.5 million Included in other expense for Q3 2026
Adjusted operating margin financial
"adjusted operating margin increasing to 31%"
Adjusted operating margin shows how much profit a company makes from its core business activities, after removing unusual or one-time costs and income. It helps investors see the company's true profitability by providing a clearer picture, similar to removing unexpected expenses to understand the regular performance. This metric is useful for comparing companies or tracking performance over time, as it highlights consistent earning power.
Net sales events financial
"Third-quarter net sales events totaled $46.8 million"
Assets under advisement financial
"Client assets under advisement"
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.
Variable interest entities financial
"Cash and cash equivalents held at consolidated variable interest entities"
A variable interest entity (VIE) is a business that a company controls through contracts or special arrangements instead of owning a majority of its shares, like steering a puppet without holding its ticket. Investors care because these arrangements can hide who really bears the financial risks and rewards, affect how assets and liabilities appear on financial statements, and create extra legal or enforcement uncertainty that can change the value and risk of an investment.
Revenue $662.043 million +14% vs. Q3 2025
Income from operations $197.999 million +24% vs. Q3 2025
Diluted EPS $1.38 +6% vs. Q3 2025
Adjusted diluted EPS $1.64 +24% vs. Q3 2025

FAQ

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

What were SEIC’s revenue and earnings per share in Q3 2026?
SEI reported $662.043 million in revenue, up 14% from Q3 2025. Diluted EPS was $1.38, up 6%, and adjusted diluted EPS was $1.64, up 24%.

How much did SEIC increase its stock repurchase authorization?
SEI’s board approved an additional $800.0 million for the repurchase program, bringing available authorization to approximately $925.6 million.

What was SEIC’s $32.5 million Q3 charge for?
SEI reported a $32.5 million one-time charge associated with its mutually agreed termination agreement with Stratos concerning the planned purchase of the equity of a Mexican registered investment adviser owned by Stratos.

How much were SEIC’s sales events in Q3 2026?
Third-quarter sales events totaled $46.8 million, the second-highest quarterly level in SEI history, and year-to-date sales events totaled $157.4 million.

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

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Available on EDGAR Accepted by SEC EDGAR
0000350894FALSE00003508942026-10-212026-10-21

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 21, 2026
Date of report (Date of earliest event reported)
________________________________________
GIF_sei_logo_final_black.gif
________________________________________
SEI INVESTMENTS COMPANY
(Exact name of registrant as specified in charter)
________________________________________
Pennsylvania0-1020023-1707341
(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 21, 2026, SEI Investments Company (the "Company") issued a press release announcing its financial and operating results for the third quarter ended September 30, 2026. 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 ir.seic.com/events-presentations/events.
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 7.01.    Regulation FD Information.
A copy of an earnings presentation that is intended to be used by representatives of the Company is furnished as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference.
The information furnished pursuant to Item 7.01 and Exhibit 99.2 hereof shall not be deemed “filed” for purposes of Section 18 of the Securities 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 20, 2026, the Board of Directors of SEI Investments Company approved an increase in its stock repurchase program by an additional $800.0 million, increasing the available authorization under the program to approximately $925.6 million.

Item 9.01.    Financial Statements and Exhibits.
Exhibit No.Description
99.1
Press Release dated October 21, 2026 of SEI Investments Company related to the Company's financial and operating results for the third quarter ended September 30, 2026
99.2
Earnings Presentation of SEI Investments Company for the third quarter ended September 30, 2026
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 21, 2026By:/s/ Sean J. Denham
Sean J. Denham
Chief Financial and Chief Operating Officer






headerimage_v1-01.jpg
SEI Reports Third-Quarter 2026 Financial Results

OAKS, Pa., Oct. 21, 2026 – 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.”
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,
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.
2


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.


3


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
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,
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 
5


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 
6


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 
7


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.
8


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.
9


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 


10


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.
11


(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.
12

SEI Investments Company (NASDAQ: SEIC) Q3 2026 Earnings Presentation

 

This presentation 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," "expect," "believe," ”remain” and "continue" or "appear." Our forward-looking statements include our current expectations as to: • whether our growth will broaden across the enterprise and the degree to which multiple business units will contribute to this growth; • the trajectory of our sales and the impact of this trajectory on fourth quarter results; • our clients’ willingness to speak positively about us; • the demand for retail alternatives; • the momentum of our newly-launched retail transfer agent; • the expected revenue from our combined transfer agency and fund administration activities; • the degree to which our professional services business will resonate across our client bases; • the adoption of our ETF strategies; • our conviction in independent financial advice; • whether the investments we have made in the future of our business will become meaningful contributors to our next phase of growth; • the normalized level of contribution of our net gains on investments and variable interest entities; • the interest of advisors in succession and continuity solutions and the potential benefits of this interest; • the expansion of private markets into retail and retirement channels and the degree to which we will benefit from this expansion, if any; • the traction from newer products and initiatives in our Advisors business unit; • the net outflows at LSV; • the benefits of new leadership, clearer accountability, and a renewed commercial focus in some of our initiatives; • our ability to expand our client opportunities into larger, more strategic, enterprise-wide engagements; • our ability to win large opportunities that leverage existing capabilities, require less incremental investment and contribute more quickly to financial results; • our level of engagement with our clients, including the largest and most sophisticated firms in our target markets; • our ability to convert sales events into revenue as well as the speed of this conversion; • the benefits, if any, of our operating discipline and cost controls; • the repeatability of our sales success; • the durability of and growth in demand for alternative investments; • the success of our re-contracting activity; • our ability to consistently execute against our strategy; • strength of the sales momentum in our businesses and whether this momentum will continue; • how we will use and deploy our capital and the reasons for our capital allocation methodologies; • the level of demand for outsourcing, investment advice and the margin sensitivity of these services; • the benefits that we and our stakeholders will receive as a consequence of our partnership with Stratos Wealth Management; 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, 2025, filed with the Securities and Exchange Commission. Past performance does not guarantee future results. Safe Harbor Statement 2 SEI Earnings PresentationQ3 2026 • our strategic priorities and focus; • the level of capital deployment by existing clients; • our 2026 priorities and commitment to these priorities; • the market dynamics affecting our businesses; • our ability to improve our consolidated margins; • our ability to deliver strong financial performance and fund future growth initiatives; • the robustness of activity in our IMS business; • the revenue we derive from alternative investment mandates; • the strength of our pipelines; • the level at which we return capital to shareholders and repurchase our stock; • the demand for our products and services; and • our ability to deliver significant value for clients, employees and shareholders.

 

Q3 2026 vs. Q3 '25 vs. Q2 '26 Revenues 662.0 14.4% 3.2% Operating Income 198.0 23.8% 0.5% Adjusted Operating Income 208.5 24.9% 0.7% EPS $1.38 6.2% -13.2% Adjusted EPS $1.64 24.2% -1.2% Net Sales Events 46.8 53.2% 7.7% Operating Margin 29.9% 2.3% -0.8% Adjusted Operating Margin 31.5% 2.6% -0.8% Assets Under Management ($B) 606.4 12.0% -0.1% Administration, Platform & Advisement ($B) 1,457.8 16.0% 3.6% % Change Q3 2026 highlights SEI Earnings PresentationQ3 2026 Strong financial performance: Revenue increased 14%, adjusted operating profit increased 25%, and adjusted EPS increased 24%, reflecting broad-based growth and operating leverage Record sales year continues: Net sales events totaled $47M, bringing year-to-date sales events to $157M, already exceeding SEI’s prior full-year record Margins remain near record levels: Adjusted operating margin increased 260 basis points despite a higher incentive compensation accrual during the quarter Strategic execution is driving growth: Enterprise transformation, alternative investments, professional services, and broader client relationships continue to build momentum $ in millions except EPS; AUM; and Assets under administration, platform-only, and advisement; and platform-only assets. Asset values exclude impact of Stratos acquisition closed in December 2025 Operating margin % change represents improvement or decline in margin rate vs. prior period Results reflect years of enterprise transformationQ3 2026 financial snapshot 3See the appendix to this presentation for a description and reconciliation of non-GAAP measures

 

Earnings per share SEI Earnings PresentationQ3 2026 Core operating performance drove results: Revenue growth, margin expansion, and a lower share count contributed to 24% adjusted EPS growth from Q3 2025 GAAP EPS included $33M charge: Other expense associated with terminating the planned acquisition of NSC reduced reported third- quarter net income Adjusted EPS declined $0.02 sequentially: Driven by lower investment gains and increased incentive compensation accrual Q3 2026 earnings summary Q3 2025 Private Banks Investment Advisors Institutional Investors Investment Managers LSV Income Corporate Overhead Tax Rate & Other Share Count Q3 2026 +6% Q2 2026 Private Banks Investment Advisors Institutional Investors Investment Managers LSV Income Corporate Overhead Tax Rate & Other Share Count Q3 2026 -13% Y e a r- O v e r- Y e a r Q u a rt e r- O v e r- Q u a rt e r 4 $1.30 $0.06 $0.05 $0.00 $0.07 $0.05 $0.04 -$0.22 $0.04 $1.38 $1.59 $0.00 $0.01 $0.00 $0.00 $0.01 -$0.01 -$0.24 $0.01 $1.38

 

Business unit performance SEI Earnings PresentationQ3 2026 Revenue ($M) Broad-based performance: Revenue increased in three of four businesses, with strong profit growth in Private Banking and Investment Managers Private Banking operating profit increased 38%, reflecting strong operating leverage on 11% revenue growth Investment Managers revenue and operating profit increased 14% driven by prior sales success Advisors revenue increased 26%, benefiting from Stratos, higher markets, and previously won clients Institutional modest revenue decline reflects impact of prior outflows Business unit highlightsOperating profit ($M) $144 $207 $147 $72 $157 $228 $178 $70 $160 $236 $185 $71 Private Banking Investment Managers Investment Advisors Institutional Investors Q3 2025 Q2 2026 Q3 2026 $23 $81 $68 $34 $32 $92 $75 $33$32 $92 $76 $33 Private Banking Investment Managers Investment Advisors Institutional Investors Q3 2025 Q2 2026 Q3 2026 +11% +14% +26% -2% +38% +14% +11% -3% 5

 

Operating margins SEI Earnings PresentationQ3 2026 -6.0% -4.0% -2.0% 0.0% 2.0% 4.0% 6.0% Private Banking Investment Managers Investment Advisors Institutional Investors Quarter-Over-Quarter Year-Over-Year Business unit margin changes HighlightsConsolidated operating margin 15.0% 25.0% 35.0% Q3 2025 Q2 2026 Q3 2026 GAAP Adjusted Operating leverage remains strong: Adjusted operating margin increased 260 basis points from the prior year while SEI continued investing in talent, technology, and products Higher compensation affected sequential margins: The increased incentive compensation accrual reduced adjusted operating margin by roughly 100 basis points during the quarter Underlying margins continued to improve: Excluding the compensation adjustment, adjusted operating margin increased roughly 20 basis points from the second quarter 6 See the appendix to this presentation for a description and reconciliation of non-GAAP measures

 

Net sales events SEI Earnings PresentationQ3 2026 $36.8 $24.1 $20.9 $18.7 $57.1 $32.6 $38.6 $9.7 $5.0 $9.6 $24.9 $10.0 $10.9 $8.2 Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26 Q3 '26 Recurring Professional Services Total net sales events ($M) Record sales year continues: Q3 net sales events totaled $47M, bringing year-to-date sales events to $157M, already exceeding SEI’s prior full-year record IMS activity remained robust: IMS generated $32M of sales events, with contributions from new clients and expanded relationships with existing clients Alternatives continued to drive demand: Alternative asset managers accounted for nearly 90% of IMS sales events during the quarter Private Banking momentum continued: Sales events totaled $13M, reflecting enterprise transformation, professional services, Data Cloud, and broader strategic engagements Enterprise engagement continues to expand 7

 

Client asset summary SEI Earnings PresentationQ3 2026 AUA and assets on platform ($B)* AUM ($B) $1,257 $1,408 $1,458 Q3 2025 Q2 2026 Q3 2026 +16% +4% $542 $607 $606 Q3 2025 Q2 2026 Q3 2026 +12% -0% Highlights • Quarter-end AUM was flat with Q2, with limited impact from both market movements and net flows. Modest inflows in Advisors largely offset similar outflows in Institutional • Newer asset management initiatives continued to gain traction, including ETFs, SMAs, strategic partnerships, and increased advisor engagement • AUA increased 4% sequentially, driven by IMS expansion, the funding of recently won mandates, and continued capital deployment by existing clients • LSV assets declined 1% as strong investment performance was offset by $5B of net outflows; expected to improve going forward. LSV performance fees totaled $4.5M at SEI’s share during the third quarter *Assets under administration, advisement and platform-only 8

 

Capital allocation, liquidity, and capitalization SEI Earnings PresentationQ3 2026 Capital returned to shareholders ($M) Liquidity and capitalization ($M) $400 $31 $12,400 Cash Long-Term Debt Market Capitalization Ended the quarter with $400M of cash while continuing to invest in growth and return capital to shareholders Repurchased $215M of stock at an average price of $105 Current outlook supports a similar level of repurchases in Q4 Additional $800M authorization provides capacity to remain active well into 2027 Highlights 9 $215 $637 $0 $126 Q3 '26 TTM Q3 '26 Buybacks Dividends 1Excludes $85M of consolidated cash associated with LSV Variable Interest Entity 2Notes payable to Stratos advisors; already collateralized by escrow balances funded in December 2025 1 2

 

For institutional investor and financial advisor use only. Not for distribution to general public. Thank you 10

 

For institutional investor and financial advisor use only. Not for distribution to general public. Appendix 11

 

Non-GAAP Reconciliation SEI Earnings PresentationQ3 2026 12

 

Non-GAAP Reconciliation SEI Earnings PresentationQ3 2026 13

 

Source: View Original Filing on SEC EDGAR

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