Core Insights - SEI Investments reported an "exceptional" fourth quarter, achieving earnings per share (EPS) of $1.38, marking the highest quarterly earnings performance in the company's history [3][5] - The company experienced broad-based revenue and operating profit growth across all business segments compared to the prior year and quarter [1][5] Financial Performance - Total sales events reached $44 million, with $28 million from Private Banking and $20 million from Investment Manager Services (IMS) [5][7] - AUA (Assets Under Administration) grew by approximately 3%, while AUM (Assets Under Management) increased by about 2%, driven by market appreciation and strong win momentum [11][12] Segment Contributions - Private Banking's revenue was bolstered by recent professional services wins, which convert into revenue more quickly than recurring sales [1] - IMS benefited from a revenue accrual true-up, with meaningful revenue and margin increases driven by recent wins and modest market appreciation [1][6] Capital Allocation and Acquisitions - SEI repurchased $101 million in Q4 and $616 million for the year, representing about 6% of total shares outstanding [4][14] - The Stratos partnership contributed approximately $5 million in revenue and just under $1 million in operating income during Q4, with further acquisitions planned [4][15] Future Outlook - The company plans to focus on accelerating product launches and evolving IMS toward platform-level services, including shared tooling and workflow automation [17][18] - Management indicated that while they do not provide earnings guidance, several factors will affect early 2026 performance, including seasonality and compensation increases [16]

We're already seeing tangible benefits, including greater awareness of SEI across the RIA and broker-dealer channels, and renewed inbound interest in our capabilities. Our focus now is on integrating our technology and investment management strengths into Stratos' platform and continuing to learn from their team as we scale together. This is a long-term strategic partnership, and we're focused on adding value in ways that support rather than disrupt their impressive organic growth. Stepping back from the nu ...