secwatch.observer — SEC 8-K summary
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Issuer:     SEI INVESTMENTS CO (SEIC)
CIK:        0000350894
Form:       8-K
Filed at:   2024-04-23T23:59:59+00:00
Accession:  0000350894-24-000076
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SEI Investments reorganizes business segments effective Jan 1, 2024; provides reclassified historical financials
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- Effective Jan 1, 2024: Private Banks client moved to Investment Managers; family office services moved to Investments in New Businesses.
- Reclassified segment results for 2022 and 2023 show no change to total revenues ($1.991B in 2022; $1.920B in 2023) or income from operations.
- Private Banks revenue restated to $570M (2022) and $496M (2023), including $88M one-time termination fee in 2022.
- Investment Managers revenue restated to $600M (2022) and $645M (2023); Investments in New Businesses operating loss improved to -$18.5M in 2023.
- Historical asset balances and averages reclassified for all periods; total assets under management rose to $432B at Dec 31, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/350894/000035089424000076/0000350894-24-000076-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/350894/000035089424000076/seic-20240423.htm
  HTML page:      https://secwatch.observer/filing/0000350894-24-000076

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