UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_________to ________ Commission File Number: 0-10200 ________________________________________ ________________________________________ SEI INVESTMENTS COMPANY (Exact name of R ...

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard. Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences. At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000 ...

Core Insights - SEI Investments is well positioned in the outsourcing market, with a strong pipeline described as the best in the company's history, as large managers seek to consolidate vendors and move towards outsourced models [1] - The Investment Managers Services (IMS) segment has shifted from a 70% traditional and 30% alternatives mix to an inverse mix, indicating a significant trend towards alternative strategies [2][5] - SEI's strategy focuses on the "three A's" of financial services: administration, asset management, and advice, with recent expansion into the advice channel through the Stratos acquisition [3][6] Investment Management Services - The IMS segment is experiencing record pipeline growth as large managers outsource fund administration, although there may be near-term margin pressure due to new implementations and technology investments [5][6] - SEI's private banking business has improved margins to around 18%, recovering from previous negative margins, aided by leadership changes [8] Asset Management - SEI's asset management segment is viewed as a significant opportunity, with new leadership leading to early recovery, including approximately $200 million in positive inflows after a year of large outflows [4][11] - Plans to launch 7-8 new ETFs in 2026 are underway, with $1.4 billion in ETF flows recorded in 2025 [4][12] Stratos Acquisition and AI - The Stratos acquisition aims to enhance SEI's exposure to the advice channel, which is less affected by pricing pressures compared to other areas [13] - SEI is exploring AI and automation to improve efficiency and reduce costs, with ongoing ventures in AI technology [14] Capital Allocation - SEI has historically maintained conservative leverage but is considering moving towards a net leverage of 0x to 1x over time, with intentions to return 90%-100% of free cash flow to shareholders [15]

Group 1 - The article does not provide any relevant content regarding the company or industry [1]

SEI Investments Conference Call Summary Company Overview - SEI Investments is positioned as the "connective tissue" of the financial services industry, providing administration platforms, asset management platforms, and advice services. The recent acquisition of Stratos, a large Registered Investment Advisor (RIA), has expanded SEI's footprint in the advice sector, enhancing its three revenue drivers: administration, asset management, and advice [3][4][39]. IMS Business Insights - The IMS (Investment Management Services) business is viewed as the crown jewel of SEI, experiencing steady double-digit growth. The client base includes some of the largest fund managers globally, with a significant shift from traditional to alternative investments, now comprising approximately 70% of the business [5][6]. - SEI has a strong pipeline of potential new business, with expectations to announce significant wins in Q1. The company is seeing a trend of insourcers moving to outsourced fund administration models, which positions SEI favorably [7][9]. - There is an anticipated near-term margin pressure due to investments in technology and manpower to support new fund launches and client onboarding [10][12][14]. Private Banking Business - The private banking segment has shown improvement, with a notable increase in non-recurring professional services, which are becoming more frequent and lucrative. Margins in this segment are currently around 18%, with professional services margins reaching approximately 40% [20][23]. - The pipeline for private banking is robust, with a focus on regional and community banks, which can make quicker decisions compared to larger institutions. This strategy has led to increased sales events and revenue [27][29]. Asset Management Challenges - The asset management business has faced challenges, particularly in light of previous negative flows. However, new leadership has been brought in to revitalize this segment, with early signs of positive inflows and new product launches, including several ETFs planned for 2026 [34][36]. - The company aims to move upmarket and has successfully secured significant asset management engagements that were previously not pursued [36][37]. Stratos Acquisition - The acquisition of Stratos is seen as a strategic move to enhance SEI's advisory capabilities. Early feedback from advisors has been positive, indicating interest in SEI's offerings. The integration aims to leverage Stratos' existing relationships without forcing advisors onto SEI's platform [40][42][43]. Technology and AI Initiatives - SEI is investing in AI and automation to improve operational efficiency and reduce labor intensity. The company has partnered with AI-focused firms to enhance its technology offerings and is exploring automation to streamline processes [51][54]. - The company acknowledges the potential risks posed by AI disruption but believes its established market position and regulatory barriers provide a strong defense [50][53]. Financial Performance and Capital Allocation - SEI has improved its margins by approximately 140 basis points in the past year, with a goal of continuing to enhance margins by 25-50 basis points annually. The focus is on scaling revenue without proportionately increasing headcount [65][66]. - The company has been active in stock buybacks and is open to leveraging debt for future investments, particularly to support the Stratos acquisition. However, it remains conservative regarding overall leverage [68][71][73]. Conclusion - SEI Investments is undergoing a significant transformation under new leadership, focusing on enhancing its service offerings, improving operational efficiency, and strategically positioning itself in the financial services market. The company is optimistic about future growth opportunities across its various business segments.

Core Viewpoint - SEI Investments Company is hosting one-on-one or small group meetings for investors, indicating a proactive approach to investor relations and engagement [1] Group 1 - Denham and Brad Burke, Head of Investor Relations, will lead the meetings throughout the day, highlighting the company's commitment to direct communication with investors [1] - Investors interested in attending or requesting a meeting are encouraged to contact UBS, suggesting a structured process for engagement [1] - A replay of the webcast will be available in the Investor Relations section of SEI's website, providing additional resources for investors to access information post-conference [1]

Core Viewpoint - SEI Investments (SEIC) has shown a 5% gain over the past four weeks, with a mean price target of $109.5 indicating a potential upside of 27.2% from its current price of $86.1 [1] Price Targets and Analyst Estimates - The mean estimate consists of four short-term price targets with a standard deviation of $8.66, where the lowest estimate is $102.00 (an 18.5% increase) and the highest is $117.00 (a 35.9% increase) [2] - A low standard deviation suggests a high degree of agreement among analysts regarding the stock's price movement, which can serve as a starting point for further research [9] Earnings Estimates and Analyst Sentiment - Analysts are optimistic about SEIC's earnings prospects, as indicated by a positive trend in earnings estimate revisions, which has shown a 0.5% increase in the Zacks Consensus Estimate over the past month [11][12] - SEIC holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates, indicating strong potential for upside [13] Caution on Price Targets - While price targets are a commonly referenced metric, they should be approached with skepticism as they may not reliably indicate actual stock price movements [3][10] - Analysts may set overly optimistic price targets due to business incentives, which can lead to inflated estimates [8]

Core Insights - TIFIN Give has partnered with SEI to provide a white-labeled donor-advised fund (DAF) solution for SEI's bank and wealth clients, enhancing innovation and growth in the industry [1][2] Group 1: Partnership Details - The collaboration allows SEI to offer a branded charitable giving experience directly to clients, combining donor experience with administrative and investment flexibility [2] - TIFIN Give addresses the gap in modern DAF offerings for banks and trust organizations, enabling them to retain charitable assets and deepen client relationships [3] Group 2: Strategic Importance - Charitable giving is increasingly recognized as a vital part of holistic wealth planning, with banks needing to retain this service in-house to avoid losing clients to larger providers [4] - The partnership positions philanthropy as a strategic growth lever for SEI's clients, enhancing asset retention and client loyalty [5] Group 3: Platform Features - The TIFIN Give platform offers a fully digital experience that simplifies administration for banks while providing transparency and flexibility for donors [4] - The solution supports branded donor-advised funds and streamlined workflows, aimed at reducing operational friction and improving client experience [4] Group 4: Company Background - TIFIN Give is part of TIFIN, which focuses on applying AI in financial services, particularly in wealth management and philanthropy [6][7] - SEI is a leading provider of financial technology and asset management services, managing approximately $1.9 trillion in assets as of December 31, 2025 [8]

Core Insights - SEI Investments (SEIC) reported a revenue of $607.93 million for the quarter ended December 2025, reflecting a year-over-year increase of 9.1% and surpassing the Zacks Consensus Estimate by 2.04% [1] - The earnings per share (EPS) for the quarter was $1.38, up from $1.19 in the same quarter last year, resulting in an EPS surprise of 3.29% over the consensus estimate of $1.34 [1] Financial Performance Metrics - SEI's assets under management (AUM) in New Business were reported at $3.04 billion, below the average estimate of $3.16 billion from five analysts [4] - AUM for LSV - Equity and Fixed Income programs reached $86.5 billion, exceeding the estimated $82.09 billion [4] - AUM for Institutional Investors was $76.99 billion, lower than the average estimate of $85.14 billion [4] - AUM for Investment Advisors stood at $79.39 billion, compared to the estimated $97.05 billion [4] - AUM for Private Banks was reported at $28.22 billion, below the average estimate of $31.45 billion [4] Revenue Breakdown - Revenue from asset management, administration, and distribution fees was $485.43 million, exceeding the estimate of $472.28 million and showing a year-over-year increase of 10.5% [4] - Revenue from information processing and software servicing fees was $122.5 million, slightly below the estimate of $123.71 million, with a year-over-year increase of 4.1% [4] - Revenue from Investment Managers was $220.84 million, surpassing the average estimate of $212.14 million, reflecting a year-over-year increase of 15.5% [4] - Revenue from Investments in New Business was $8.32 million, below the estimate of $9.59 million, showing a significant year-over-year decline of 47.1% [4] - Revenue from Investment Advisors was $156.16 million, exceeding the estimate of $152.43 million, with a year-over-year increase of 12.1% [4] - Revenue from Institutional Investors was $72.82 million, slightly below the estimate of $73.04 million, reflecting a year-over-year increase of 2.8% [4] - Revenue from Private Banks was reported at $149.78 million, exceeding the estimate of $147.29 million, with a year-over-year increase of 6.9% [4] Stock Performance - SEI shares have returned +1.8% over the past month, outperforming the Zacks S&P 500 composite, which changed by +0.8% [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]

Group 1 - The article does not provide any relevant content regarding the company or industry [1]