Net Income Rises At SEI Investments

Editorial Staff

18 March 2024

, increased $5.0 billion, to $167.4 billion during the fourth-quarter 2023, compared with $162.4 billion during the fourth-quarter 2022. Average assets under administration rose $133.5 billion, or 17 per cent, to $923.4 billion during the fourth-quarter 2023, compared with $789.9 billion during the fourth-quarter 2022. The firm said revenues from information processing and software servicing fees rose from new client conversions and growth from existing SEI Wealth PlatformSM (SWP) clients.

SEI said net sales events in the private banks and investment managers segments during the fourth-quarter 2023 were $22.9 million. These are expected to generate net annualized recurring revenues of about $17.6 million when contract values are completely realized.