SEI Investments (SEIC) Oppenheimer 27th Annual Technology, Internet & Communications Conference-Virtual summary

Business overview and differentiation

• Operates as a diversified tech operations and asset management partner for financial services, with four main segments and a focus on long-term client relationships.

• Revenue is generated through administering, processing, and advising on $1.4 trillion in assets, with a strong emphasis on recurring revenue streams.

• Differentiates through world-class operations, white glove service, and extremely low client turnover.

• Competitors vary by segment, including State Street, BNY Mellon, SS&C, Schwab, and others.

Revenue growth strategy and targets

• Previous goal to double revenue in 5-7 years is not on track organically, but focus remains on profitable growth rather than just top-line expansion.

• Four key revenue drivers: greenfield (new clients), white space (expansion within existing clients), pricing, and retention.

• Leadership is emphasizing horizontal integration across business units to drive synergy and efficiency.

• Inorganic growth, including M&A, is part of the strategy to achieve ambitious targets.

Market resilience and client engagement

• Revenue and profitability are largely insulated from market fluctuations due to the recurring nature of services.

• Sales pipeline remains strong, aided by an enterprise sales initiative and long-term client decision cycles.

• Clients view the company as a strategic partner, not just a vendor, often seeking help to reimagine their business operations.