v3.26.3
Revenues from Contracts with Customers
 9 Months Ended
Sep. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenues from Contracts with Customers Revenues from Contracts with Customers
The Company’s principal sources of revenues are: (1) asset management, administration and distribution fees primarily earned based upon a contractual percentage of net assets under management or administration; and (2) information
processing and software servicing fees that are either recurring and primarily earned based upon the number of trust accounts being serviced or a percentage of the market value of the clients' assets processed on the Company's platforms, or non-recurring and based upon project-oriented contractual agreements related to client implementations.
Disaggregation of Revenue
The following tables provide additional information pertaining to the Company's revenues disaggregated by major product line and primary geographic market based on the location of the use of the products or services for each of the business segments for the three months ended September 30, 2026 and 2025:
Investment
Managers		Private
Banks		Investment
Advisors		Institutional
Investors		Investments
In New
Businesses		Total
Major Product Lines:For the Three Months Ended September 30, 2026
Investment management fees from pooled investment products$241 $38,526 $62,169 $14,448 $524 $115,908 
Investment management fees from investment management agreements— 957 77,170 51,776 5,726 135,629 
Investment operations fees222,548 635 35,955 26 — 259,164 
Investment processing fees - PaaS1,518 86,833 1,781 282 13 90,427 
Investment processing fees - SaaS4 22,732 1,041 1,680 564 26,021 
Professional services fees2,145 10,169 — — — 12,314 
Account fees and other9,361 587 7,262 2,426 2,944 22,580 
Total revenues$235,817 $160,439 $185,378 $70,638 $9,771 $662,043 
Primary Geographic Markets:
United States$205,778 $104,593 $185,378 $58,668 $8,557 $562,974 
United Kingdom— 37,062 — 6,851 1,214 45,127 
Canada— 12,657 — 1,555 — 14,212 
Ireland17,619 6,127 — 3,564 — 27,310 
Luxembourg12,420 — — — — 12,420 
Total revenues$235,817 $160,439 $185,378 $70,638 $9,771 $662,043 
Investment
Managers		Private
Banks		Investment
Advisors		Institutional
Investors		Investments
In New
Businesses		Total
Major Product Lines:For the Three Months Ended September 30, 2025
Investment management fees from pooled investment products$163 $34,797 $57,724 $12,640 $406 $105,730 
Investment management fees from investment management agreements— 1,057 59,871 53,633 5,253 119,814 
Investment operations fees195,737 629 20,739 21 14 217,140 
Investment processing fees - PaaS1,387 79,837 1,717 316 11 83,268 
Investment processing fees - SaaS— 22,076 1,282 1,809 621 25,788 
Professional services fees1,231 4,856 — — — 6,087 
Account fees and other8,532 742 6,132 3,407 1,871 20,684 
Total revenues$207,050 $143,994 $147,465 $71,826 $8,176 $578,511 
Primary Geographic Markets:
United States$182,696 $94,224 $147,465 $59,335 $7,587 $491,307 
United Kingdom66 33,355 — 8,894 589 42,904 
Canada— 10,943 — 1,577 — 12,520 
Ireland14,716 5,472 — 2,020 — 22,208 
Luxembourg9,572 — — — — 9,572 
Total revenues$207,050 $143,994 $147,465 $71,826 $8,176 $578,511 
The following tables provide additional information pertaining to the Company's revenues disaggregated by major product line and primary geographic market based on the location of the use of the products or services for each of the Company’s business segments for the nine months ended September 30, 2026 and 2025:
Investment
Managers		Private
Banks		Investment
Advisors		Institutional
Investors		Investments
In New
Businesses		Total
Major Product Lines:For the Nine Months Ended September 30, 2026
Investment management fees from pooled investment products$697 $110,923 $180,372 $41,958 $1,429 $335,379 
Investment management fees from investment management agreements— 2,897 218,223 154,967 16,725 392,812 
Investment operations fees647,145 1,892 104,573 66 12 753,688 
Investment processing fees - PaaS4,399 257,880 5,232 1,107 35 268,653 
Investment processing fees - SaaS4 68,120 3,197 5,183 1,294 77,798 
Professional services fees6,409 25,940 — — — 32,349 
Account fees and other25,559 1,928 21,373 8,575 7,729 65,164 
Total revenues$684,213 $469,580 $532,970 $211,856 $27,224 $1,925,843 
Primary Geographic Markets:
United States$598,734 $307,587 $532,970 $174,806 $24,270 $1,638,367 
United Kingdom57 108,024 — 22,352 2,954 133,387 
Canada— 36,561 — 4,630 — 41,191 
Ireland51,226 17,408 — 10,068 — 78,702 
Luxembourg34,196 — — — — 34,196 
Total revenues$684,213 $469,580 $532,970 $211,856 $27,224 $1,925,843 
Investment
Managers		Private
Banks		Investment
Advisors		Institutional
Investors		Investments
In New
Businesses		Total
Major Product Lines:For the Nine Months Ended September 30, 2025
Investment management fees from pooled investment products$385 $98,093 $166,903 $36,161 $1,203 $302,745 
Investment management fees from investment management agreements— 3,077 165,862 158,383 15,036 342,358 
Investment operations fees560,970 1,871 62,296 48 1,999 627,184 
Investment processing fees - PaaS4,003 234,617 4,577 1,524 31 244,752 
Investment processing fees - SaaS— 65,742 4,075 5,545 12,886 88,248 
Professional services fees4,056 17,644 — — 1,614 23,314 
Account fees and other24,751 2,113 17,521 8,014 8,456 60,855 
Total revenues$594,165 $423,157 $421,234 $209,675 $41,225 $1,689,456 
Primary Geographic Markets:
United States$524,823 $280,629 $421,234 $174,508 $39,816 $1,441,010 
United Kingdom220 95,764 — 24,705 1,409 122,098 
Canada— 31,269 — 4,521 — 35,790 
Ireland43,116 15,495 — 5,941 — 64,552 
Luxembourg26,006 — — — — 26,006 
Total revenues$594,165 $423,157 $421,234 $209,675 $41,225 $1,689,456 
Investment management fees from pooled investment products - Revenues associated with clients' assets invested in Company-sponsored pooled investment products. Contractual fees are stated as a percentage of the market value of assets under management and collected on a monthly basis. Revenues are recognized in Asset management, administration and distribution fees on the accompanying Consolidated Statements of Operations.
Investment management fees from investment management agreements - Revenues based on assets of clients of the Institutional Investors segment primarily invested in Company-sponsored products. Each client is charged an investment management fee that is stated as a percentage of the market value of all assets under management. The client is billed directly on a quarterly basis. Revenues are recognized in Asset management, administration and distribution fees on the accompanying Consolidated Statements of Operations.
Revenues associated with the separately managed account program offered through registered investment advisors located throughout the United States. The contractual fee is stated as a percentage of the market value of all assets invested in the separately managed account and collected on a quarterly basis. Revenues are recognized in Asset management, administration and distribution fees on the accompanying Consolidated Statements of Operations.
Investment operations fees - Revenues earned from accounting and administrative services, distribution support services and regulatory and compliance services to investment management firms and family offices. The Company contracts directly with the investment management firm or family office. The contractual fees are stated as a percentage of net assets under administration and billed when asset valuations are finalized. Also includes fees from client cash balances held in the FDIC-insured accounts through the SEI Integrated Cash program. Fees are based on client cash balances held in FDIC insured deposit accounts through a network of independent banks and are dependent on the prevailing market interest rates. The amount recognized is net of amounts paid to clients for their swept deposits.
Stratos provides a suite of infrastructure and operational support services to independent advisors. These services include practice management coaching, compliance and regulatory oversight, billing and administrative support, technology access, and marketing resources. Fees are primarily earned based on an agreed-upon percentage of qualified assets under management.
Revenues associated with Investment operations fees are recognized in Asset management, administration and distribution fees on the accompanying Consolidated Statements of Operations.
Investment processing fees - Platform as a Service - Revenues associated with clients that outsource their entire investment operation and back-office processing functions. Through the use of the Company's proprietary platforms, the
Company assumes all back-office investment processing services including investment processing, custody and safekeeping of assets, income collections, securities settlement and other related trust activities. The contractual fee is based on a monthly fee plus additional fees determined on a per-account or per-transaction basis. Contractual fees can also be stated as a percentage of the value of assets processed on the Company's platforms each month as long as the fee is in excess of a monthly contractual minimum. The client is billed directly on a monthly basis. Revenues are recognized in Information processing and software servicing fees on the accompanying Consolidated Statements of Operations.
Revenues associated with clients of the mutual fund trading solution are fees recognized for shareholder services and related services through the use of the Company's proprietary platform or through third-party vendor agreements. Contractual fees are stated as a percentage of the value of total assets or positions processed on the Company's platform or subject to third-party vendor agreements each month. Fees are billed and collected on a monthly and quarterly basis.
Investment processing fees - Software as a Service - Revenues associated with clients of the Private Banks segment for application software services. Clients retain responsibility for all investment operations, client administration and other back-office trust operations. The contractual fee is based on a monthly fee plus additional fees determined on a per-account or per-transaction basis. The client is billed directly on a monthly basis.
Revenues associated with former clients of the Investments in New Businesses segment processed on the Archway PlatformSM were fees for hosted technology services formerly offered to family offices and financial institutions. The Archway Platform is an integrated technology platform used for investment, operations, accounting and client reporting by these institutions. The contractual fee was based on a monthly subscription fee to access the Archway Platform along with additional fees on a per transaction basis.
Revenues associated with clients of the Institutional Investors segment processed on the SEI NovusSM portfolio intelligence tool are fees for data management, performance measurement, reporting, and risk analytics. The contractual fee is based on a fixed fee to access SEI Novus and includes fees for integration of historical fund data and custom reporting.
All revenues from investment processing fees are recognized in Information processing and software servicing fees on the accompanying Consolidated Statements of Operations.
Professional services fees - Revenues associated with the business services migration for investment processing clients of the Private Banks segment and investment operations clients of the Investment Managers segment. In addition, Professional services include other services such as business transformation consulting. Typically fees are stated as a contractual fixed fee. The client is billed directly and fees are collected according to the terms of the agreement.
Account fees and other - Revenues associated with custody account servicing, account terminations, reimbursements received for out-of-pocket expenses, and other fees for the provision of ancillary services.