OAKS, Pa.,
April 24,
2024 /PRNewswire/ -- SEI Investments Company
(NASDAQ:SEIC) today announced financial results for the
first-quarter 2024. Diluted earnings per share were $0.99 in first-quarter 2024 compared to
$0.79 in first-quarter
2023.
|
Consolidated Overview
(In thousands, except
earnings per share)
|
|
|
|
For the Three
Months
Ended March 31,
|
|
|
2024
|
2023
|
%
|
|
Revenues
|
$511,579
|
$469,119
|
9 %
|
|
Net income
|
131,400
|
107,015
|
23 %
|
|
Diluted earnings per
share
|
$0.99
|
$0.79
|
25 %
|
"We entered 2024 with continued momentum, reflecting our
strategic focus on increasing sales and profitability across SEI.
In the first quarter, we delivered strong topline growth and margin
expansion—with notable sales and implementation activity in our
technology and investment processing businesses," said CEO
Ryan Hicke.
"We are well-positioned to capitalize on opportunities in the
markets we serve globally. Our strong financial position, unmatched
set of capabilities, and unique ability to connect the financial
services ecosystem enable us to deliver comprehensive solutions to
drive growth and deliver long-term value for our clients and
shareholders."
|
Summary of
First-Quarter Results by Business Segment
|
|
|
(In thousands)
|
For the Three
Months
Ended March 31,
|
|
|
2024
|
2023
|
%
|
|
Private Banks:
Revenues
|
$130,137
|
$120,902
|
8 %
|
|
Expenses
|
112,974
|
112,462
|
— %
|
|
Operating Profit
|
17,163
|
8,440
|
103 %
|
|
Operating Margin
|
13 %
|
7 %
|
|
|
Investment Advisors: Revenues
|
122,718
|
106,538
|
15 %
|
|
Expenses
|
66,958
|
63,546
|
5 %
|
|
Operating Profit
|
55,760
|
42,992
|
30 %
|
|
Operating Margin
|
45 %
|
40 %
|
|
|
Institutional Investors: Revenues
|
71,778
|
74,290
|
(3) %
|
|
Expenses
|
40,109
|
40,868
|
(2) %
|
|
Operating Profit
|
31,669
|
33,422
|
(5) %
|
|
Operating Margin
|
44 %
|
45 %
|
|
|
Investment Managers: Revenues
|
172,653
|
154,497
|
12 %
|
|
Expenses
|
109,550
|
101,685
|
8 %
|
|
Operating Profit
|
63,103
|
52,812
|
19 %
|
|
Operating Margin
|
37 %
|
34 %
|
|
|
Investments in New Businesses:
Revenues
|
14,293
|
12,892
|
11 %
|
|
Expenses
|
18,383
|
17,639
|
4 %
|
|
Operating Loss
|
(4,090)
|
(4,747)
|
NM
|
|
Totals:
Revenues
|
$511,579
|
$469,119
|
9 %
|
|
Expenses
|
347,974
|
336,200
|
4 %
|
|
Corporate Overhead Expenses
|
37,754
|
31,152
|
21 %
|
|
Income from
Operations
|
$125,851
|
$101,767
|
24 %
|
First-Quarter Business Highlights:
- Revenues from Assets under management, administration, and
distribution fees increased primarily from higher assets under
administration due to sales to new and existing alternative
investment clients of the Investment Managers segment.
Additionally, first-quarter 2024 revenues included fees of
$9.6 million from the SEI Integrated
Cash Program of the Investment Advisors segment launched in
December 2023.
- Market appreciation and positive cash flows into separately
managed account programs and Strategist programs of the Investment
Advisors segment also contributed to the increase in revenues. This
was partially offset by negative cash flows from SEI fund programs
in the Investment Advisors segment and client losses in the
Institutional Investors segment.
- Average assets under management in equity and fixed income
programs, excluding LSV, increased $8.1
billion, or 5%, to $175.9
billion during the first-quarter 2024, as compared to
$167.8 billion during the
first-quarter 2023 (see attached Average Asset Balances schedule
for further details).
- Average assets under administration increased $121.0 billion, or 14%, to $961.7 billion during the first-quarter 2024, as
compared to $840.7 billion during the
first-quarter 2023 (see attached Average Asset Balances schedules
for further details).
- Revenues from Information processing and software servicing
fees increased from new client conversions and growth from existing
SEI Wealth PlatformSM (SWP) clients.
- Net sales events in the Private Banks and Investment Managers
segments during the first- quarter 2024 were $24.5 million and are expected to generate net
annualized recurring revenues of approximately $20.7 million when contract values are completely
realized.
- Net sales events in asset management-related businesses of the
Investment Advisors and Institutional Investors segments and the
Asset Management Distribution (AMD) business in the Private Banks
segment during the first-quarter 2024 were negative $5.7 million.
- Net sales events for newer initiatives, which includes SEI
Family Office Services, SEI Private Wealth Management and SEI
Sphere, were $2.5 million during the
first-quarter 2024.
- The increase in operational expenses was due to higher
personnel costs from business growth, primarily in the Investment
Managers segment, severance costs of $6.2
million, and the impact of inflation on wages and services.
Cost containment measures related to consulting and other
outsourced vendor costs partially offset the increase in operating
expenses during the first-quarter 2024.
- Earnings from LSV increased to $31.6
million in the first-quarter 2024 as compared to
$28.9 million in the first-quarter
2023 due to market appreciation and increased performance fees. Net
negative cash flows from existing clients and client losses
partially offset the increase in earnings from LSV.
- Capitalized software development costs were $6.3 million in the first-quarter 2024, of which
$3.8 million was for continued
enhancements to SWP. Capitalized software development costs also
include $2.5 million in the
first-quarter 2024 for a new platform for the Investment Managers
segment.
- Effective tax rates were 22.9% in the first-quarter 2024 and
23.6% in the first-quarter 2023.
- Repurchased shares of SEI common stock were 808 thousand for
$56.0 million during the first-
quarter 2024 at an average price of $69.32 per share.
- Cash flow from operations was $112.3
million, and free cash flow was $92.9
million during the first-quarter 2024.
Earnings Conference Call
A conference call to review
earnings is scheduled for 4:30 p.m. Eastern
time on April 24, 2024.
Investors may listen to the call at seic.com/ir-events.
Investors may also listen to a replay by telephone at (USA) 866-207-1041; (International)
402-970-0847; Access Code: 3297429.
About SEI®
SEI (NASDAQ:SEIC) delivers
technology and investment solutions that connect the financial
services industry. With capabilities across investment processing,
operations, and asset management, SEI works with corporations,
financial institutions and professionals, and ultra-high-net-worth
families to help drive growth, make confident decisions, and
protect futures. As of March 31,
2024, SEI manages, advises, or administers approximately
$1.5 trillion in assets. For more
information, visit seic.com.
This release contains forward-looking statements within the
meaning or 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" and "continue" or "appear." Our forward-looking
statements include our current expectations as to:
- the momentum generated by our focus on increasing sales and
profitability and the benefits we may realize from such
momentum;
- the degree to which we are positioned to capitalize on
opportunities in the markets we serve;
- 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; and
- the degree to which our financial position, set of
capabilities, and ability to connect the financial services
ecosystem enable us to deliver comprehensive solutions to drive
growth and deliver long-term value for our clients and
shareholders.
We anticipate that we may deliver forward-looking statements
during today's earnings call that include our current expectations
as to the matters in this release and set forth above as well
as:
- what our strategic priorities will be;
- our ability to execute against our strategic priorities;
- the size of the markets that we identify as growth areas and
our ability to capture market share in these markets;
- the degree to which we are well-positioned for the future;
- whether we will pursue geographic expansion and the benefits
that such expansion may yield;
- our ability to align our cost structure to talent and the
benefits of such alignment;
- the degree to which our capabilities benefit our clients;
- our ability to accelerate growth and market share;
- the benefits we will derive from the businesses and/or assets
we acquire and our ability to successful integrate these assets in
order to drive the expected benefits, strategic and otherwise;
- the headwinds our businesses face and our ability to respond to
these headwinds;
- our ability to capitalize on our pipeline and opportunities,
manage expenses, and drive profit to the bottom line;
- the amount, if any, of our current backlog of sold but expected
to be installed revenue and recurring revenue in the next 18 months
that will actually be installed during such period, if ever;
- the market dynamics affecting our market units;
- the areas in which we will invest;
- our ability to expand the margins of our Private Banking
business and the degree to which this business is positioned for
growth;
- the amount of revenue and profit that our new FDIC cash sweep
program will generate during 2024; and
- our tax rate for the remainder of 2024.
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, 2023, filed with the Securities and Exchange
Commission.
# # #
|
SEI INVESTMENTS
COMPANY
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(Unaudited)
|
|
For the Three
Months
Ended March 31,
|
|
2024
|
2023
|
|
Asset management, admin.
and distribution fees
|
$404,366
|
$371,829
|
|
Information processing and software servicing fees
|
107,213
|
97,290
|
|
Total revenues
|
511,579
|
469,119
|
|
Subadvisory, distribution and other
asset mgmt. costs
|
46,768
|
47,379
|
|
Software royalties and
other information processing costs
|
8,471
|
7,293
|
|
Compensation, benefits and
other personnel
|
192,916
|
173,415
|
|
Stock-based compensation
|
11,059
|
8,074
|
|
Consulting, outsourcing and professional fees
|
51,976
|
61,104
|
|
Data processing and computer related
|
37,160
|
33,340
|
|
Facilities, supplies and
other costs
|
18,603
|
18,792
|
|
Amortization
|
10,386
|
9,424
|
|
Depreciation
|
8,389
|
8,531
|
|
Total expenses
|
385,728
|
367,352
|
|
Income from
operations
|
125,851
|
101,767
|
|
Net gain from
investments
|
2,256
|
744
|
|
Interest and dividend income
|
10,819
|
8,778
|
|
Interest expense
|
(139)
|
(141)
|
|
Equity in earnings of unconsolidated affiliate
|
31,643
|
28,879
|
|
Income before
income taxes
|
170,430
|
140,027
|
|
Income taxes
|
39,030
|
33,012
|
|
Net income
|
$131,400
|
$107,015
|
|
Basic earnings per common
share
|
$1.00
|
$0.80
|
|
Shares used to calculate basic earnings per share
|
131,417
|
134,020
|
|
Diluted earnings per common share
|
$0.99
|
$0.79
|
|
Shares used
to calculate diluted
earnings per share
|
132,745
|
135,311
|
|
CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)
|
|
March 31,
2024
|
December 31,
2023
|
|
Assets
|
|
|
|
Current Assets:
|
|
|
|
Cash and cash equivalents
|
$846,628
|
$834,697
|
|
Restricted cash
|
301
|
301
|
|
Receivables from investment products
|
55,606
|
55,886
|
|
Receivables, net of allowance for doubtful accounts of $1,165 and
$663
|
561,395
|
501,434
|
|
Securities owned
|
31,958
|
31,334
|
|
Other current
assets
|
59,136
|
54,464
|
|
Total Current
Assets
|
1,555,024
|
1,478,116
|
|
Property
and Equipment, net of accumulated depreciation of $475,832 and $474,034
|
168,204
|
171,364
|
|
Operating Lease Right-of-Use Assets
|
20,687
|
22,477
|
|
Capitalized Software, net of accumulated amortization of $619,875 and $612,971
|
239,156
|
239,783
|
|
Available for Sale and Equity Securities
|
164,027
|
155,413
|
|
Investments in Affiliated Funds,
at fair value
|
8,149
|
7,316
|
|
Investment in Unconsolidated Affiliate
|
57,291
|
110,781
|
|
Goodwill
|
137,204
|
137,333
|
|
Intangible Assets, net of accumulated amortization of $45,923 and $42,520
|
78,739
|
82,443
|
|
Deferred
Contract Costs
|
40,000
|
40,221
|
|
Deferred
Income Taxes
|
45,257
|
37,709
|
|
Other Assets,
net
|
54,699
|
37,047
|
|
Total Assets
|
$2,568,437
|
$2,520,003
|
|
Liabilities and Equity
|
|
|
|
Current
Liabilities:
|
|
|
|
Accounts
payable
|
$10,290
|
$10,618
|
|
Accrued
liabilities
|
242,856
|
318,945
|
|
Current
portion of long-term operating lease liabilities
|
7,562
|
8,118
|
|
Deferred revenue
|
15,274
|
15,366
|
|
Total Current
Liabilities
|
275,982
|
353,047
|
|
Long-term Income Taxes Payable
|
803
|
803
|
|
Long-term Operating Lease Liabilities
|
15,599
|
17,235
|
|
Other Long-term Liabilities
|
16,999
|
17,090
|
|
Total Liabilities
|
309,383
|
388,175
|
|
Shareholders' Equity:
|
|
|
|
Common stock,
$0.01 par value,
750,000 shares authorized; 131,329 and 131,178
shares issued and outstanding
|
1,313
|
1,312
|
|
Capital
in excess of par value
|
1,455,162
|
1,404,962
|
|
Retained
earnings
|
843,870
|
762,586
|
|
Accumulated other
comprehensive loss, net
|
(41,291)
|
(37,032)
|
|
Total Shareholders' Equity
|
2,259,054
|
2,131,828
|
|
Total Liabilities and Shareholders' Equity
|
$2,568,437
|
$2,520,003
|
|
ENDING ASSET BALANCES
(In millions) (Unaudited)
|
|
Mar. 31,
2023
|
Jun. 30,
2023
|
Sept. 30,
2023
|
Dec. 31,
2023
|
Mar. 31,
2024
|
|
Private Banks:
Equity
and fixed-income programs
|
$23,653
|
$24,091
|
$23,039
|
$24,496
|
$25,282
|
|
Collective trust fund programs
|
6
|
7
|
6
|
4
|
5
|
|
Liquidity funds
|
3,427
|
3,433
|
3,636
|
3,916
|
2,733
|
|
Total assets
under management
|
$27,086
|
$27,531
|
$26,681
|
$28,416
|
$28,020
|
|
Client assets
under administration
|
4,299
|
4,154
|
4,399
|
7,267
|
8,024
|
|
Total assets
|
$31,385
|
$31,685
|
$31,080
|
$35,683
|
$36,044
|
|
Investment Advisors:
Equity
and fixed-income programs
|
$68,065
|
$69,439
|
$66,911
|
$71,634
|
$74,715
|
|
Liquidity funds
|
4,965
|
4,968
|
5,175
|
4,812
|
4,722
|
|
Total Platform assets under management
|
$73,030
|
$74,407
|
$72,086
|
$76,446
|
$79,437
|
|
Platform-only assets
|
14,980
|
16,103
|
16,232
|
18,324
|
20,516
|
|
Platform-only assets-deposit program
|
—
|
—
|
—
|
843
|
897
|
|
Total Platform assets
|
$88,010
|
$90,510
|
$88,318
|
$95,613
|
$100,850
|
|
Institutional Investors:
Equity
and fixed-income programs
|
$74,939
|
$75,854
|
$72,387
|
$77,208
|
$75,969
|
|
Collective trust fund programs
|
4
|
4
|
4
|
1
|
1
|
|
Liquidity funds
|
1,576
|
1,353
|
2,119
|
1,734
|
2,179
|
|
Total assets
under management
|
$76,519
|
$77,211
|
$74,510
|
$78,943
|
$78,149
|
|
Client assets
under advisement
|
4,559
|
4,368
|
4,085
|
6,120
|
6,862
|
|
Total assets
|
$81,078
|
$81,579
|
$78,595
|
$85,063
|
$85,011
|
|
Investment Managers:
Collective trust fund programs (A)
|
$146,176
|
$149,779
|
$146,991
|
$156,376
|
$161,660
|
|
Liquidity funds
|
203
|
249
|
180
|
114
|
202
|
|
Total assets
under management
|
$146,379
|
$150,028
|
$147,171
|
$156,490
|
$161,862
|
|
Client assets
under administration
|
829,352
|
857,801
|
871,385
|
920,757
|
959,904
|
|
Total assets
|
$975,731
|
$1,007,829
|
$1,018,556
|
$1,077,247
|
$1,121,766
|
|
Investments in New
Businesses:
Equity and fixed-income programs
|
$2,031
|
$2,104
|
$2,017
|
$2,174
|
$2,269
|
|
Liquidity funds
|
217
|
217
|
202
|
209
|
223
|
|
Total assets
under management
|
$2,248
|
$2,321
|
$2,219
|
$2,383
|
$2,492
|
|
Client assets under advisement
|
1,081
|
1,098
|
1,070
|
1,150
|
1,248
|
|
Client assets
under administration
|
16,476
|
15,769
|
14,997
|
14,807
|
15,411
|
|
Total assets
|
$19,805
|
$19,188
|
$18,286
|
$18,340
|
$19,151
|
|
LSV Asset
Management:
Equity and fixed-income programs (B)
|
$84,964
|
$86,469
|
$83,684
|
$89,312
|
$93,616
|
|
Total:
Equity
and fixed-income programs (C)
|
$253,652
|
$257,957
|
$248,038
|
$264,824
|
$271,851
|
|
Collective trust fund programs
|
146,186
|
149,790
|
147,001
|
156,381
|
161,666
|
|
Liquidity funds
|
10,388
|
10,220
|
11,312
|
10,785
|
10,059
|
|
Total assets
under management
|
$410,226
|
$417,967
|
$406,351
|
$431,990
|
$443,576
|
|
Client assets under advisement
|
5,640
|
5,466
|
5,155
|
7,270
|
8,110
|
|
Client assets under
administration (D)
|
850,127
|
877,724
|
890,781
|
942,831
|
983,339
|
|
Platform-only assets
|
14,980
|
16,103
|
16,232
|
19,167
|
21,413
|
|
Total assets
|
$1,280,973
|
$1,317,260
|
$1,318,519
|
$1,401,258
|
$1,456,438
|
|
(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 $2.0 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 March 31, 2024).
|
|
(C)
|
Equity and fixed-income
programs include $6.4 billion of assets invested in various asset
allocation funds (as of March 31, 2024).
|
|
(D)
|
In addition to the
assets presented, SEI also administers an additional
$11.0 billion in Funds of Funds assets on which SEI does not
earn an administration fee (as of March 31, 2024).
|
|
AVERAGE ASSET BALANCES
(In millions) (Unaudited)
|
|
1st Qtr.
2023
|
2nd Qtr.
2023
|
3rd Qtr.
2023
|
4th Qtr.
2023
|
1st Qtr.
2024
|
|
Private Banks:
Equity
and fixed-income programs
|
$23,576
|
$23,748
|
$23,920
|
$23,309
|
$24,593
|
|
Collective trust fund programs
|
7
|
7
|
6
|
5
|
4
|
|
Liquidity funds
|
3,253
|
3,500
|
3,585
|
3,808
|
3,902
|
|
Total assets
under management
|
$26,836
|
$27,255
|
$27,511
|
$27,122
|
$28,499
|
|
Client assets
under administration
|
4,316
|
4,282
|
4,221
|
7,083
|
7,753
|
|
Total assets
|
$31,152
|
$31,537
|
$31,732
|
$34,205
|
$36,252
|
|
Investment Advisors:
Equity
and fixed-income programs
|
$67,578
|
$68,371
|
$69,309
|
$68,369
|
$72,689
|
|
Liquidity funds
|
4,995
|
4,808
|
4,990
|
5,046
|
4,649
|
|
Total Platform assets under management
|
$72,573
|
$73,179
|
$74,299
|
$73,415
|
$77,338
|
|
Platform-only assets
|
14,812
|
15,548
|
16,544
|
17,201
|
19,198
|
|
Platform-only assets-deposit program
|
—
|
—
|
—
|
281
|
849
|
|
Total Platform assets
|
$87,385
|
$88,727
|
$90,843
|
$90,897
|
$97,385
|
|
Institutional Investors:
Equity
and fixed-income programs
|
$74,653
|
$74,865
|
$75,023
|
$73,644
|
$76,414
|
|
Collective trust fund programs
|
5
|
4
|
4
|
3
|
1
|
|
Liquidity funds
|
1,715
|
1,537
|
1,611
|
1,682
|
1,812
|
|
Total assets
under management
|
$76,373
|
$76,406
|
$76,638
|
$75,329
|
$78,227
|
|
Client assets
under advisement
|
4,431
|
4,583
|
4,294
|
4,607
|
6,498
|
|
Total assets
|
$80,804
|
$80,989
|
$80,932
|
$79,936
|
$84,725
|
|
Investment Managers:
Collective trust fund programs (A)
|
$144,914
|
$147,543
|
$150,379
|
$149,551
|
$156,737
|
|
Liquidity funds
|
317
|
286
|
237
|
205
|
207
|
|
Total assets
under management
|
$145,231
|
$147,829
|
$150,616
|
$149,756
|
$156,944
|
|
Client assets
under administration
|
820,014
|
843,065
|
873,821
|
901,487
|
938,804
|
|
Total assets
|
$965,245
|
$990,894
|
$1,024,437
|
$1,051,243
|
$1,095,748
|
|
Investments in New
Businesses:
Equity and fixed-income programs
|
$1,991
|
$2,057
|
$2,096
|
$2,069
|
$2,200
|
|
Liquidity funds
|
212
|
199
|
211
|
197
|
214
|
|
Total assets
under management
|
$2,203
|
$2,256
|
$2,307
|
$2,266
|
$2,414
|
|
Client assets under advisement
|
1,098
|
1,075
|
1,101
|
1,080
|
1,194
|
|
Client assets
under administration
|
16,396
|
16,231
|
15,682
|
14,781
|
15,147
|
|
Total assets
|
$19,697
|
$19,562
|
$19,090
|
$18,127
|
$18,755
|
|
LSV Asset
Management:
Equity and fixed-income programs (B)
|
$86,987
|
$84,492
|
$86,671
|
$84,492
|
$90,708
|
|
Total:
Equity
and fixed-income programs (C)
|
$254,785
|
$253,533
|
$257,019
|
$251,883
|
$266,604
|
|
Collective trust fund programs
|
144,926
|
147,554
|
150,389
|
149,559
|
156,742
|
|
Liquidity funds
|
10,492
|
10,330
|
10,634
|
10,938
|
10,784
|
|
Total assets
under management
|
$410,203
|
$411,417
|
$418,042
|
$412,380
|
$434,130
|
|
Client assets under advisement
|
5,529
|
5,658
|
5,395
|
5,687
|
7,692
|
|
Client assets under
administration (D)
|
840,726
|
863,578
|
893,724
|
923,351
|
961,704
|
|
Platform-only assets
|
14,812
|
15,548
|
16,544
|
17,482
|
20,047
|
|
Total assets
|
$1,271,270
|
$1,296,201
|
$1,333,705
|
$1,358,900
|
$1,423,573
|
|
(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 first-quarter 2024 include $1.9 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 $6.3 billion of average assets invested in various
asset allocation funds during first-quarter 2024.
|
|
(D)
|
In addition to the
assets presented, SEI also administers an additional
$11.1 billion of average assets in Funds of Funds assets during
first-quarter 2024 on which SEI does not earn an
administration fee.
|
|
Investor Contact:
|
Media Contact:
|
|
|
|
Alex Whitelam
|
Leslie
Wojcik
|
|
SEI
|
SEI
|
|
+1 610-676-4924
|
+1
610-676-4191
|
|
awhitelam@seic.com
|
lwojcik@seic.com
|
View original
content:https://www.prnewswire.com/news-releases/sei-reports-first-quarter-2024-financial-results-302126616.html
SOURCE SEI Investments Company