SEI Investments Company reported Q4 2025 revenues of $607.9 million, up 9% from $557.2 million a year earlier, driven by broad-based growth across its five business segments. Operating income rose 11% to $161.6 million, lifting the operating margin to 26.6% from 26.1% in Q4 2024. Diluted earnings per share climbed 16% to $1.38, marking the sixth consecutive quarter of double-digit EPS growth. For the full year, revenues reached $2.30 billion (up 8%) and operating income totaled $627.3 million (up 14%), with net income attributable to SEI growing 23% to $715.3 million and full-year EPS of $5.63, a 28% increase versus 2024.

Investment Managers led segment growth with Q4 revenues of $220.8 million (+15%) and a 41% operating margin, reflecting strong demand from U.S. alternative asset managers and a $3.3 million revenue true-up benefit. Private Banks generated $149.8 million in revenues (+7%) and saw operating profit jump 47% to $29.1 million, as a record $27.5 million of net sales events boosted margin to 19%. Investment Advisors posted 12% revenue growth to $156.2 million and a 46% margin, while Institutional Investors held revenues near prior year at $72.8 million and expanded margin to 47%. Investments in New Businesses revenues declined 47%, but losses narrowed 13% to $3.1 million as integration costs for emerging ventures stabilized.

SEI recorded Q4 net sales events of $43.6 million, bringing full-year net sales to a record $149.9 million. Private Banks led with $27.5 million in the quarter, driven by SWP software-as-a-service and professional services wins. Investment Managers contributed $20.5 million, with two-thirds coming from U.S. alternative managers, while Advisors net flows were flat as ETF inflows offset mutual fund outflows. Institutional Investors saw a $5.0 million outflow, mainly in the U.K. Assets under administration rose 3% sequentially, and assets under management increased 2%, underscoring positive market appreciation and win momentum across SEI’s integrated enterprise platform.

During Q4, SEI closed the first and largest tranche of its Stratos acquisition for $440.8 million in cash, expanding its advisory capabilities across RIA and broker-dealer channels. Corporate overhead expenses rose by $23.4 million to $62.1 million, reflecting $20.1 million in severance and M&A fees linked to the deal. The company repurchased 1.2 million shares for $101.0 million in the quarter, bringing total buybacks to 7.5 million shares for the year. CEO Ryan Hicke highlighted that these strategic investments position SEI to capitalize on long-term outsourcing trends, the convergence of public and private markets, and sustained demand for high-quality advice as the firm enters 2026 with strong momentum.