Fair Value Measurements

6 Months Ended

Jun. 30, 2025

The fair value of the Company’s financial assets and liabilities is determined in accordance with the fair value hierarchy. The pricing policies and procedures applied to the Company's Level 1 and Level 2 financial assets during the six months ended June 30, 2025 were consistent with those as described in the Company's Annual Report on Form 10-K at December 31, 2024. The Company’s Level 1 financial assets consists mainly of investments in open-end and closed-end investment products that are quoted daily. Level 2 financial assets consist of Government National Mortgage Association (GNMA) mortgage-backed securities held by the Company's wholly-owned limited purpose federal thrift subsidiary, SEI Private Trust Company (SPTC), and Federal Home Loan Bank (FHLB) and other U.S. government agency short-term notes held by SIDCO. The financial assets held by SIDCO were purchased as part of a cash management program requiring only short term, top-tier investment grade government and corporate securities. The financial assets held by SPTC are debt securities issued by GNMA and are backed by the full faith and credit of the U.S. government. These securities were purchased for the sole purpose of satisfying applicable regulatory requirements and have maturity dates which range from 2027 to 2041. The Company's Level 3 financial liabilities at June 30, 2025 and December 31, 2024 consist entirely of the estimated fair value of the contingent considerations resulting from business acquisitions (See Note 12). The fair value of the contingent considerations were determined using a Monte-Carlo simulation model. There were no transfers of financial assets between levels within the fair value hierarchy during the six months ended June 30, 2025.

The fair value of the Company's investments in funds sponsored by LSV is measured using the net asset value per share (NAV) as a practical expedient. The NAVs of the funds are calculated by the funds' independent custodian and are derived from the fair values of the underlying investments as of the reporting date. The investment funds sponsored by LSV allow for investor redemptions at the end of each calendar month. The investments measured using the NAV as a practical expedient have not been classified in the fair value hierarchy but are presented in the tables below to permit reconciliation to the amounts presented on the accompanying Consolidated Balance Sheets.

The fair value of certain financial assets of the Company was determined using the following inputs:


	At June 30, 2025
	Level 1		Level 2		Level 3		NAV as a Practical Expedient		Total
Assets
Equity securities	$	52,674	$	—	$	—	$	—	$	52,674
Available-for-sale debt securities	—		156,374		—		—		156,374
Securities owned	—		31,682		—		—		31,682
Investment funds sponsored by LSV	—		—		—		9,273		9,273
Investments in limited partnership funds	—		—		—		367		367
Total assets measured at fair value	$	52,674	$	188,056	$	—	$	9,640	$	250,370

Liabilities
Contingent considerations	$	—	$	—	$	10,951	$	—	$	10,951
Total liabilities measured at fair value	$	—	$	—	$	10,951	$	—	$	10,951


	At December 31, 2024
	Level 1		Level 2		Level 3		NAV as a Practical Expedient		Total
Assets
Equity securities	$	40,530	$	—	$	—	$	—	$	40,530
Available-for-sale debt securities	—		143,126		—		—		143,126
Securities owned	—		29,583		—		—		29,583
Investment funds sponsored by LSV	—		—		—		8,129		8,129
Total assets measured at fair value	$	40,530	$	172,709	$	—	$	8,129	$	221,368

Liabilities
Contingent considerations	$	—	$	—	$	14,355	$	—	$	14,355
Total liabilities measured at fair value	$	—	$	—	$	14,355	$	—	$	14,355