SEI Investments Management Corp is a large financial advisor firm located in Oaks, Pennslyvania. The firm manages over $200 billion in assets for a massive client base that includes both individual and institutional investors.
SEI and its advisors provide a wide range of financial services to clients, including investment portfolio management, investment advice, financial planning and more.
SEI is a fee-only firm whose revenue comes from the fees that clients pay for advisory services, not commissions for selling third-party products and services. This is a different fee structure than a fee-based firm, whose advisors may earn commissions for recommending certain securities or insurance products.
SEI Investments Management Corp Background
SEI Investments Management Corp is an indirect, wholly-owned subsidiary of SEI Investments Company, which has been in business since 1969. Alfred P. West Jr. is the firm's founder, chairman and CEO.
This firm has close to 200 financial advisors, many of whom hold financial certifications such as the chartered financial analyst (CFA). Because of the size of this staff, there are several different dedicated teams and branches within the company.
SEI Investments Management Corp Client Types and Minimum Account Sizes
SEI Investments Management Corp's client base mainly consists of individuals (of varying net worths) and families. It also works with various types of retirement plans, endowments, charitable foundations, hospital organizations, banks, trust departments, registered investment advisors (RIAs), trusts, estates, corporations, pooled investment vehicles, mutual funds, hedge funds, private equity funds, collective investment trusts and offshore investment funds.
This firm has no account minimums for its advisory services. However, the firm typically requires a minimum investment of between $50,000 and $1,000,000 for its Managed Account Solutions wrap-fee programs and other services.
Services Offered by SEI Investments Management Corp
SEI Investments Management Corp offers four specific sets of services to clients:
- SEI Private Wealth Management: This program provides individuals and families with financial goal-setting, planning and wealth management services. SEI also offers this as a wrap fee program.
- SEI Institutional Group: This program offers investment management services to institutional clients through SEI’s business called Institutional Investors. Advisors deliver healthcare, retirement and nonprofit investment advice.
- SEI Private Banking: This program is centered around investment advisory services for RIAs, like banks, trust companies, insurance companies and independent advisors.
- Independent Advisor Solutions by SEI: RIAs, broker-dealers and other financial institutions utilize this program for its wealth management, administrative, technology, and practice management services. This also comes as a wrap fee program.
SEI Investments Management Corp Investment Philosophy
When it comes to individual wealth management at SEI Investments Management Corp, advisors may use a range of securities to craft client portfolios. There are seven different categories of investment styles, including exchange-traded fund (ETF) strategies, emerging markets and small- and large-cap equities. The firm may also choose to incorporate SEI pooled investment vehicles, SEI mutual funds or SEI alternative funds within your portfolio.
Advisors always seek to tailor investment advice to the individual needs and objectives of clients as they relate to their risk tolerance, time horizon and financial goals. In general, the firm tends to prioritize long-term returns over all else.
Fees Under SEI Investments Management Corp
Investment management fees at SEI are negotiated on a case-by-case basis. Specific fee rates depend upon the type of services the client is looking for, while certain accounts include performance-based fees too. In some instances, the firm may decide to charge clients a flat fee, but more often than not, advisory fees are based on a percentage of each client's assets under management (AUM).
Amongst the total investment styles, fees can range from 0.10% to 1.25% of the account's AUM. Fees decrease as a client's total AUM increases.
What to Watch Out For
SEI Investments Management Corp has three disclosures of regulatory actions involving the firm and/or advisory affiliates, according to the Form ADV filed most recently with the U.S. Securities and Exchange Commission.
In 2020, the firm's parent company, SEI Investments Co., paid $6.8 million to settle a class action lawsuit filed by participants of its retirement plan. The federal lawsuit accused the company of breaching fiduciary duty under ERISA "with respect to selecting and monitoring the plan's investment options and by retaining affiliated investment products in the plan," SEC records indicate.
Opening an Account With SEI Investments Management Corp
To become a client of SEI Investments Management Corp, start by calling the firm at (610) 676-1000 or sending an email to firstname.lastname@example.org.
All information is accurate as of the writing of this article.
Tips for Financial Planning
- When putting together your own financial plan, it can be helpful to work with a financial advisor that has done it before. Luckily, finding the right advisor that fits your needs doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
- Wondering what kind of returns you can expect to see from your investments. Try using SmartAsset’s investment calculator to see how your money can work for you.