SEI INVESTMENTS CO. Files 10-K for Fiscal Year Ended December 31, 2023

Ticker: SEIC · Form: 10-K · Filed: Feb 20, 2024 · CIK: 350894

Sentiment: neutral

Topics: 10-K, Financials, SEI Investments, Annual Report, Fiscal Year End

TL;DR

<b>SEI Investments Co. has filed its annual 10-K report detailing financial performance and key metrics for the fiscal year ending December 31, 2023.</b>

AI Summary

SEI INVESTMENTS CO (SEIC) filed a Annual Report (10-K) with the SEC on February 20, 2024. SEI Investments Co. filed its 10-K report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. Key financial data points such as common stock, additional paid-in capital, retained earnings, and accumulated other comprehensive income are detailed for multiple fiscal years. The report includes specific fee-related data for 'AssetManagementAdministrationAndDistributionFeesMember' and 'InformationProcessingAndSoftwareServicingFeesMember' for the years 2021, 2022, and 2023. The company's fiscal year end is December 31.

Why It Matters

For investors and stakeholders tracking SEI INVESTMENTS CO, this filing contains several important signals. This 10-K filing provides a comprehensive overview of SEI Investments Co.'s financial health and operational performance for the fiscal year 2023, crucial for investors assessing the company's stability and growth prospects. The detailed breakdown of various financial components and fee structures offers insights into the company's revenue streams and capital management, enabling a deeper understanding of its business model.

Risk Assessment

Risk Level: medium — SEI INVESTMENTS CO shows moderate risk based on this filing. The filing is a standard 10-K, which is a comprehensive annual report. While it contains detailed financial information, it does not inherently signal immediate positive or negative developments beyond the typical disclosures of a public company.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-K to understand revenue drivers and potential areas of growth or concern for SEI Investments Co.

Revenue Breakdown

SegmentRevenueGrowth
AssetManagementAdministrationAndDistributionFeesMember
InformationProcessingAndSoftwareServicingFeesMember
SeiSponsoredOpenEndedMoneyMarketMutualFundsMember

Key Numbers

Key Players & Entities

FAQ

When did SEI INVESTMENTS CO file this 10-K?

SEI INVESTMENTS CO filed this Annual Report (10-K) with the SEC on February 20, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by SEI INVESTMENTS CO (SEIC).

Where can I read the original 10-K filing from SEI INVESTMENTS CO?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by SEI INVESTMENTS CO.

What are the key takeaways from SEI INVESTMENTS CO's 10-K?

SEI INVESTMENTS CO filed this 10-K on February 20, 2024. Key takeaways: SEI Investments Co. filed its 10-K report for the fiscal year ending December 31, 2023.. The filing covers the period from January 1, 2023, to December 31, 2023.. Key financial data points such as common stock, additional paid-in capital, retained earnings, and accumulated other comprehensive income are detailed for multiple fiscal years..

Is SEI INVESTMENTS CO a risky investment based on this filing?

Based on this 10-K, SEI INVESTMENTS CO presents a moderate-risk profile. The filing is a standard 10-K, which is a comprehensive annual report. While it contains detailed financial information, it does not inherently signal immediate positive or negative developments beyond the typical disclosures of a public company.

What should investors do after reading SEI INVESTMENTS CO's 10-K?

Review the detailed financial statements and segment performance within the 10-K to understand revenue drivers and potential areas of growth or concern for SEI Investments Co. The overall sentiment from this filing is neutral.

Key Dates

Filing Stats: 4,244 words · 17 min read · ~14 pages · Grade level 14.1 · Accepted 2024-02-20 13:40:03

Key Financial Figures

Filing Documents

Risk Factors. 14

Item 1A. Risk Factors. 14

Unresolved Staff Comments. 27

Item 1B. Unresolved Staff Comments. 27

Cybersecurity. 27

Item 1C. Cybersecurity. 27

Properties. 28

Item 2. Properties. 28

Legal Proceedings. 28

Item 3. Legal Proceedings. 28

Mine Safety Disclosures. 28

Item 4. Mine Safety Disclosures. 28 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. 29

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. 29

[Reserved] 30

Item 6. [Reserved] 30

Management's Discussion and Analysis of Financial Condition and Results of Operations. 31

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations. 31

Quantitative and Qualitative Disclosures About Market Risk. 49

Item 7A. Quantitative and Qualitative Disclosures About Market Risk. 49

Financial Statements and Supplementary Data. 50

Item 8. Financial Statements and Supplementary Data. 50

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure. 91

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure. 91

Controls and Procedures. 91

Item 9A. Controls and Procedures. 91

Other Information. 91

Item 9B. Other Information. 91

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 91

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 91 PART III

Directors, Executive Officers and Corporate Governance. 92

Item 10. Directors, Executive Officers and Corporate Governance. 92

Executive Compensation. 92

Item 11. Executive Compensation. 92

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 93

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 93

Certain Relationships and Related Transactions, and Director Independence. 95

Item 13. Certain Relationships and Related Transactions, and Director Independence. 95

Principal Accounting Fees and Services. 95

Item 14. Principal Accounting Fees and Services. 95 PART IV

Exhibit and Financial Statement Schedules. 96

Item 15. Exhibit and Financial Statement Schedules. 96

Form 10-K Summary. 96

Item 16. Form 10-K Summary. 96 1 PART I

Forward-looking Statements

Forward-looking Statements This Annual Report on Form 10-K contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve certain known and unknown risks, uncertainties and other factors, many of which are beyond our control, and are not limited to those discussed in Item 1A, Risk Factors. All statements that do not relate to historical or current facts are forward-looking statements. These statements may include words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "will," and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. In particular, these include statements relating to present or anticipated strategies, products and markets, future revenues, capital expenditures and uses, expansion plans, future financing and liquidity, personnel, and other statements regarding matters that are not historical facts or statements of current condition. Any or all forward-looking statements contained within this Annual Report on Form 10-K may turn out to be wrong. They can be affected by inaccurate assumptions we might make, or by known or unknown risks and uncertainties. Many factors mentioned in the discussion below will be important in determining future results. Consequently, we cannot guarantee any forward-looking statements. Actual future results may vary materially. Further information about factors that could materially affect its results of operations and financial condition include, but are not limited to, the discussion contained in Item 1A, Risk Factors, in this Annual Report on Form 10-K. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. You are advised, however, to consult any further disclosures we make on related subjects in our filin

Business

Item 1. Business. Corporate Overview SEI 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. SEI's four core business segments provide outsourcing services to banks, investment advisors, investment managers and institutional investors. We serve a broad range of client types of all sizes and complexity, including 10 of the top 20 U.S. banks and 48 of the top 100 investment managers worldwide. Investments in New Businesses is a fifth segment, focused on other businesses, ventures or research and development activities intended to expand our solutions to new or existing markets. SEI manages, advises, or administers approximately $1.4 trillion in assets. We are headquartered in Oaks, Pennsylvania and support clients globally from service centers primarily located in the United States, United Kingdom, Ireland, Canada, continental Europe, and South Africa. We were founded in 1968 and became a public company in 1981. Mission and Strategy SEI's mission is to build brave futures SM through the power of connection. The needs of wealth managers, investment managers, financial advisors, family offices, and investors continue to converge, particularly among larger firms and investors. They face increasing competitive and market pressures, ever-growing regulations, and the need to replace aging legacy technologies. They also seek to expand services, offer differentiated solutions, improve efficiencies, reduce risk, and better manage their businesses. With relationships across the financial services industry, we're uniquely positioned to meet our clients' emerging and converging needs, help them make confident decisions and transform their businesses, and capture growth opportunities

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