SEI Investments (SEIC) 10-Q 28 Jul 23 2023 Q2 Quarterly report Financial data

Cover page

Cover page - shares	6 Months Ended
	Jun. 30, 2023	Jul. 13, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	0-10200
Entity Registrant Name	SEI INVESTMENTS COMPANY
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	23-1707341
Entity Address, Address Line One	1 Freedom Valley Drive
Entity Address, City or Town	Oaks
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19456
City Area Code	610
Local Phone Number	676-1000
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	SEIC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		132,358,055
Entity Central Index Key	0000350894
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false
Current Fiscal Year End Date	--12-31

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current Assets:
Cash and cash equivalents	$ 777,051	$ 853,008
Restricted cash	300	351
Receivables from investment products	56,304	62,014
Receivables, net of allowance for doubtful accounts of $936 and $901	521,600	457,084
Securities owned	31,040	32,148
Other current assets	55,610	48,703
Total Current Assets	1,441,905	1,453,308
Property and Equipment, net of accumulated depreciation of $458,119 and $440,861	180,503	181,029
Operating Lease Right-of-Use Assets	22,293	24,992
Capitalized Software, net of accumulated amortization of $599,557 and $586,744	242,525	237,302
Available for Sale and Equity Securities	116,791	128,201
Investments in Affiliated Funds, at fair value	6,772	6,366
Investment in Unconsolidated Affiliate	54,318	104,673
Goodwill	115,602	115,599
Intangible Assets, net of accumulated amortization of $36,450 and $30,261	49,621	55,532
Deferred Contract Costs	38,561	37,928
Deferred Income Taxes	17,464	4,936
Other Assets, net	38,609	33,687
Total Assets	2,324,964	2,383,553
Current Liabilities:
Accounts payable	7,220	13,283
Accrued liabilities	237,164	359,363
Current portion of long-term operating lease liabilities	11,076	10,344
Deferred revenue	14,913	14,893
Total Current Liabilities	270,373	397,883
Long-term Income Taxes Payable	803	803
Long-term Operating Lease Liabilities	16,032	18,786
Other Long-term Liabilities	14,203	12,257
Total Liabilities	301,411	429,729
Commitments and Contingencies
Shareholders' Equity:
Common stock, $0.01 par value, 750,000 shares authorized; 132,230 and 134,162 shares issued and outstanding	1,322	1,342
Capital in excess of par value	1,337,538	1,307,162
Retained earnings	724,672	694,287
Accumulated other comprehensive loss, net	(39,979)	(48,967)
Total Shareholders' Equity	2,023,553	1,953,824
Total Liabilities and Shareholders' Equity	$ 2,324,964	$ 2,383,553

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Receivables, allowance for doubtful accounts	$ 936	$ 901
Property and equipment, accumulated depreciation	458,119	440,861
Capitalized Software, accumulated amortization	599,557	586,744
Intangible Assets, accumulated amortization	$ 36,450	$ 30,261
Shareholders' Equity:
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	750,000,000	750,000,000
Common stock, shares issued (in shares)	132,230,000	134,162,000
Common stock, shares outstanding (in shares)	132,230,000	134,162,000

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues:
Revenues	$ 489,057	$ 481,670	$ 958,176	$ 1,063,113
Expenses:
Subadvisory, distribution and other asset management costs	47,247	50,023	94,626	103,151
Software royalties and other information processing costs	8,396	7,407	15,689	14,954
Compensation, benefits and other personnel	175,706	157,921	349,121	318,405
Stock-based compensation	7,405	10,007	15,479	20,573
Consulting, outsourcing and professional fees	61,312	63,271	122,416	125,762
Data processing and computer related	34,945	32,254	68,285	62,070
Facilities, supplies and other costs	23,034	20,133	41,826	37,760
Amortization	9,630	16,508	19,054	33,395
Depreciation	8,781	8,286	17,312	16,384
Total expenses	376,456	365,810	743,808	732,454
Income from operations	112,601	115,860	214,368	330,659
Net gain (loss) from investments	515	(2,620)	1,259	(3,109)
Interest and dividend income	9,550	1,853	18,328	2,701
Interest expense	(139)	(211)	(280)	(461)
Equity in earnings of unconsolidated affiliate	32,711	29,813	61,590	62,272
Income before income taxes	155,238	144,695	295,265	392,062
Income taxes	36,387	33,419	69,399	90,478
Net income	$ 118,851	$ 111,276	$ 225,866	$ 301,584
Basic earnings per common share (in USD per share)	$ 0.89	$ 0.82	$ 1.69	$ 2.20
Shares used to compute basic earnings per share (in shares)	132,854	136,435	133,437	137,185
Diluted earnings per common share (in USD per share)	$ 0.89	$ 0.81	$ 1.68	$ 2.17
Shares used to compute diluted earnings per share (in shares)	133,936	137,817	134,623	138,764
Dividends declared per common share (in USD per share)	$ 0.43	$ 0.40	$ 0.43	$ 0.40
Asset management, administration and distribution fees
Revenues:
Revenues	$ 378,821	$ 382,594	$ 750,650	$ 776,691
Information processing and software servicing fees
Revenues:
Revenues	$ 110,236	$ 99,076	$ 207,526	$ 286,422

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 118,851	$ 111,276	$ 225,866	$ 301,584
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	5,684	(14,623)	8,751	(19,181)
Unrealized gain (loss) on investments:
Unrealized (losses) gains during the period, net of income taxes of $342, $923, $(43) and $2,109	(1,143)	(3,088)	144	(7,057)
Reclassification adjustment for losses realized in net income, net of income taxes of $(18), $(39), $(29) and $(96)	58	129	93	318
Total other comprehensive income (loss), net of tax	4,599	(17,582)	8,988	(25,920)
Comprehensive income	$ 123,450	$ 93,694	$ 234,854	$ 275,664

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Unrealized gains during the period, taxes	$ 342	$ 923	$ (43)	$ 2,109
Reclassification adjustment for losses realized in net income, taxes	$ (18)	$ (39)	$ (29)	$ (96)

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Capital In Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2021		138,449
Beginning balance at Dec. 31, 2021	$ 1,860,763	$ 1,384	$ 1,246,608	$ 632,614	$ (19,843)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	301,584			301,584
Other comprehensive income (loss)	(25,920)				(25,920)
Purchase and retirement of common stock (in shares)		(3,683)
Purchase and retirement of common stock	(209,383)	$ (37)	(23,051)	(186,295)
Issuance of common stock under employee stock purchase plan (in shares)		45
Issuance of common stock under employee stock purchase plan	2,258	$ 1	2,257
Issuance of common stock under share-based award plans (in shares)		669
Issuance of common stock under share-based award plans	26,591	$ 7	26,584
Stock-based compensation	20,573		20,573
Dividends declared	(54,378)			(54,378)
Ending balance (in shares) at Jun. 30, 2022		135,480
Ending balance at Jun. 30, 2022	1,922,088	$ 1,355	1,272,971	693,525	(45,763)
Beginning balance (in shares) at Mar. 31, 2022		137,219
Beginning balance at Mar. 31, 2022	1,973,083	$ 1,372	1,266,320	733,572	(28,181)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	111,276			111,276
Other comprehensive income (loss)	(17,582)				(17,582)
Purchase and retirement of common stock (in shares)		(1,970)
Purchase and retirement of common stock	(109,293)	$ (20)	(12,328)	(96,945)
Issuance of common stock under employee stock purchase plan (in shares)		22
Issuance of common stock under employee stock purchase plan	1,090	$ 1	1,089
Issuance of common stock under share-based award plans (in shares)		209
Issuance of common stock under share-based award plans	7,885	$ 2	7,883
Stock-based compensation	10,007		10,007
Dividends declared	(54,378)			(54,378)
Ending balance (in shares) at Jun. 30, 2022		135,480
Ending balance at Jun. 30, 2022	$ 1,922,088	$ 1,355	1,272,971	693,525	(45,763)
Beginning balance (in shares) at Dec. 31, 2022	134,162	134,162
Beginning balance at Dec. 31, 2022	$ 1,953,824	$ 1,342	1,307,162	694,287	(48,967)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	225,866			225,866
Other comprehensive income (loss)	8,988				8,988
Purchase and retirement of common stock (in shares)		(2,651)
Purchase and retirement of common stock	(155,869)	$ (27)	(17,538)	(138,304)
Issuance of common stock under employee stock purchase plan (in shares)		45
Issuance of common stock under employee stock purchase plan	2,244	$ 0	2,244
Issuance of common stock under share-based award plans (in shares)		674
Issuance of common stock under share-based award plans	30,198	$ 7	30,191
Stock-based compensation	15,479		15,479
Dividends declared	$ (57,177)			(57,177)
Ending balance (in shares) at Jun. 30, 2023	132,230	132,230
Ending balance at Jun. 30, 2023	$ 2,023,553	$ 1,322	1,337,538	724,672	(39,979)
Beginning balance (in shares) at Mar. 31, 2023		133,268
Beginning balance at Mar. 31, 2023	2,014,334	$ 1,333	1,327,591	729,988	(44,578)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	118,851			118,851
Other comprehensive income (loss)	4,599				4,599
Purchase and retirement of common stock (in shares)		(1,290)
Purchase and retirement of common stock	(75,537)	$ (13)	(8,534)	(66,990)
Issuance of common stock under employee stock purchase plan (in shares)		21
Issuance of common stock under employee stock purchase plan	1,041		1,041
Issuance of common stock under share-based award plans (in shares)		231
Issuance of common stock under share-based award plans	10,037	$ 2	10,035
Stock-based compensation	7,405		7,405
Dividends declared	$ (57,177)			(57,177)
Ending balance (in shares) at Jun. 30, 2023	132,230	132,230
Ending balance at Jun. 30, 2023	$ 2,023,553	$ 1,322	$ 1,337,538	$ 724,672	$ (39,979)

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Equity (Unaudited) (Parenthetical) - $ / shares		3 Months Ended		6 Months Ended
	Mar. 31, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in USD per share)	$ 0.43	$ 0.43	$ 0.40	$ 0.43	$ 0.40

Consolidated Condensed Statemen

Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net income	$ 225,866	$ 301,584
Adjustments to reconcile net income to net cash provided by operating activities (See Note 1)	(43,412)	29,031
Net cash provided by operating activities	182,454	330,615
Cash flows from investing activities:
Additions to property and equipment	(16,470)	(19,821)
Additions to capitalized software	(18,036)	(13,809)
Purchases of marketable securities	(48,046)	(96,642)
Prepayments and maturities of marketable securities	60,829	90,553
Sales of marketable securities	893	106
Other investing activities	(4,979)	(2,903)
Net cash used in investing activities	(25,809)	(42,516)
Cash flows from financing activities:
Repayments under revolving credit facility	0	(40,000)
Payment of contingent consideration	(904)	(868)
Purchase and retirement of common stock	(156,174)	(210,324)
Proceeds from issuance of common stock	32,442	28,849
Payment of dividends	(114,829)	(109,830)
Net cash used in financing activities	(239,465)	(332,173)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	6,812	(15,660)
Net decrease in cash, cash equivalents and restricted cash	(76,008)	(59,734)
Cash, cash equivalents and restricted cash, beginning of period	853,359	831,758
Cash, cash equivalents and restricted cash, end of period	$ 777,351	$ 772,024

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Nature of Operations SEI Investments Company (the Company), a Pennsylvania corporation, provides comprehensive platforms, services and infrastructure–encompassing technology, operational, and investment management services–to help wealth managers, financial advisors, investment managers, family offices, institutional and private investors create and manage wealth. Investment processing platforms provide technologies and business process outsourcing services for wealth managers. These solutions include investment advisory, client relationship, and other technology-enabled capabilities for the front office; administrative and investment services for the middle office; and accounting and processing services for the back office. Revenues from investment processing platforms are recognized in Information processing and software servicing fees on the accompanying Consolidated Statements of Operations. Investment operations platforms provide business process outsourcing services for investment managers and asset owners. These platforms support a broad range of traditional and alternative investments and provide technology-enabled information analytics and investor capabilities for the front office; administrative and investment services for the middle office; and fund administration and accounting services for the back office. Revenues from investment operations platforms are recognized in Asset management, administration and distribution fees on the accompanying Consolidated Statements of Operations. Investment management platforms provide comprehensive solutions for managing personal and institutional wealth. These platforms include goals-based investment strategies; SEI-sponsored investment products, including mutual funds, collective investment products, alternative investment portfolios and separately managed accounts (SMA); and other market-specific advice, technology and operational components. These platforms are offered to wealth managers as part of a complete goals-based investment program for their end-investors. For institutional investors, the Company provides Outsourced Chief Investment Officer (OCIO) solutions and Enhanced Chief Investment Officer (ECIO) solutions that include investment management programs, as well as advisory and administrative services. Revenues from investment management platforms are recognized in Asset management, administration and distribution fees on the accompanying Consolidated Statements of Operations. Basis of Presentation The accompanying Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America. Certain financial information and accompanying note disclosure normally included in the Company’s Annual Report on Form 10-K have been condensed or omitted. The interim financial information is unaudited but reflects all adjustments (consisting of only normal recurring adjustments) which are, in the opinion of management, necessary for a fair statement of financial position of the Company as of June 30, 2023, the results of operations for the three and six months ended June 30, 2023 and 2022, and cash flows for the six months ended June 30, 2023 and 2022. These interim Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and the Notes to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. There have been no significant changes in significant accounting policies during the six months ended June 30, 2023 as compared to the significant accounting policies described in the Company's Annual Report on Form 10-K for the year ended December 31, 2022. Variable Interest Entities The Company or its affiliates have created numerous investment products for its clients in various types of legal entity structures. The Company serves as the Manager, Administrator and Distributor for these investment products and may also serve as the Trustee for some of the investment products. The Company receives asset management, distribution, administration and custodial fees for these services. Clients are the equity investors and participate in proportion to their ownership percentage in the net income or loss and net capital gains or losses of the products, and, on liquidation, will participate in proportion to their ownership percentage in the remaining net assets of the products after satisfaction of outstanding liabilities. The Company has concluded that it is not the primary beneficiary of the entities and, therefore, is not required to consolidate any of the pooled investment vehicles for which it receives asset management, distribution, administration and custodial fees under the VIE model. The Company is a party to expense limitation agreements with certain SEI-sponsored money market funds subject to Rule 2a-7 of the Investment Company Act of 1940 which establish a maximum level of ordinary operating expenses incurred by the fund in any fiscal year including, but not limited to, fees of the administrator or its affiliates. Under the terms of these agreements, the Company waived $5,320 and $9,039 in fees during the three months ended June 30, 2023 and 2022, respectively. During the six months ended June 30, 2023 and 2022, the Company waived $10,881 and $20,224, respectively, in fees. Revenue Recognition Revenue is recognized when the transfer of control of promised goods or services under the terms of a contract with customers are satisfied in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those promised goods or services. Certain portions of the Company’s revenues involve a third party in providing goods or services to its customers. In such circumstances, the Company must determine whether the nature of its promise to the customer is to provide the underlying goods or services (the Company is the principal in the transaction and reports the transaction gross) or to arrange for a third party to provide the underlying goods or services (the entity is the agent in the transaction and reports the transaction net). See Note 13 for related disclosures regarding revenue recognition. Cash and Cash Equivalents Cash and cash equivalents includes $304,611 and $305,434 at June 30, 2023 and December 31, 2022, respectively, primarily invested in SEI-sponsored open-ended money market mutual funds. Restricted Cash Restricted cash includes $250 at June 30, 2023 and December 31, 2022 segregated for regulatory purposes related to trade-execution services conducted by SEI Investments (Europe) Limited. Restricted cash also includes $50 and $101 at June 30, 2023 and December 31, 2022, respectively, segregated in special reserve accounts for the benefit of customers of the Company’s broker-dealer subsidiary, SEI Investments Distribution Co. (SIDCO), in accordance with certain rules established by the Securities and Exchange Commission (SEC) for broker-dealers. Capitalized Software The Company capitalized $18,036 and $13,809 of software development costs during the six months ended June 30, 2023 and 2022, respectively. The Company's software development costs primarily relate to significant enhancements to the SEI Wealth Platform SM (SWP). As of June 30, 2023, the net book value of SWP was $222,853 . The net book value includes $3,127 of capitalized software development costs in-progress associated with future releases of SWP. Capitalized software development costs in-progress associated with future releases of SWP were $14,217 as of December 31, 2022. SWP has a weighted average remaining life of 9.4 years. Amortization expense for SWP was $12,516 and $23,859 during the six months ended June 30, 2023 and 2022, respectively. The Company also capitalized $8,642 of software development costs during the six months ended June 30, 2023 related to a new platform for the Investment Managers segment. Capitalized software development costs in-progress associated with this platform were $18,196 and $9,558 as of June 30, 2023 and December 31, 2022, respectively. The platform is not yet ready for use. Earnings per Share The calculations of basic and diluted earnings per share for the three and six months ended June 30, 2023 and 2022 are: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Net income $ 118,851 $ 111,276 $ 225,866 $ 301,584 Shares used to compute basic earnings per common share 132,854,000 136,435,000 133,437,000 137,185,000 Dilutive effect of stock options 1,082,000 1,382,000 1,186,000 1,579,000 Shares used to compute diluted earnings per common share 133,936,000 137,817,000 134,623,000 138,764,000 Basic earnings per common share $ 0.89 $ 0.82 $ 1.69 $ 2.20 Diluted earnings per common share $ 0.89 $ 0.81 $ 1.68 $ 2.17 During the three months ended June 30, 2023 and 2022, employee stock options to purchase 11,006,000 and 12,064,000 shares of common stock with an average exercise price of $61.29 and $60.27, respectively, were outstanding but not included in the computation of diluted earnings per common share. During the six months ended June 30, 2023 and 2022, employee stock options to purchase 11,140,000 and 12,141,000 shares of common stock with an average exercise price of $61.29 and $60.28, respectively, were outstanding but not included in the computation of diluted earnings per common share.These options for the three and six month periods were not included in the computation of diluted earnings per common share because either the performance conditions have not been satisfied or would not have been satisfied if the reporting date was the end of the contingency period or the options' exercise price was greater than the average market price of the Company’s common stock and the effect on diluted earnings per common share would have been anti-dilutive. Recently Adopted Accounting Pronouncements In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805) Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (ASU 2021-08). This update amends Topic 805 to add contract assets and contract liabilities to the list of exceptions to the recognition and measurement principles that apply to business combinations and to require that an entity (acquirer) recognize and measure contract assets and contract liabilities in accordance with ASC 606. The Company adopted ASU 2021-08 on January 1, 2023. There was no material impact to the Company's consolidated financial statements from the implementation of ASU 2021-08. Statements of Cash Flows For purposes of the Consolidated Statements of Cash Flows, the Company considers investment instruments purchased with an original maturity of three months or less to be cash equivalents. The following table provides the details of the adjustments to reconcile net income to net cash provided by operating activities for the six months ended June 30: 2023 2022 Net income $ 225,866 $ 301,584 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 17,312 16,384 Amortization 19,054 33,395 Equity in earnings of unconsolidated affiliate (61,590) (62,272) Distributions received from unconsolidated affiliate 61,452 69,824 Stock-based compensation 15,479 20,573 Provision for losses on receivables 35 350 Deferred income tax expense (12,600) (23,506) Net (gain) loss from investments (1,259) 3,109 Change in other long-term liabilities 1,946 1,998 Change in other assets (71) (3,111) Contract costs capitalized, net of amortization (633) 883 Other 2,443 (1,521) Change in current assets and liabilities (Increase) decrease in Receivables from investment products 5,710 4,125 Receivables (64,551) (25,523) Other current assets (6,907) (7,014) Advances due from unconsolidated affiliate 50,493 53,500 (Decrease) increase in Accounts payable (6,063) (7) Accrued liabilities (63,682) (55,734) Deferred revenue 20 3,578 Total adjustments (43,412) 29,031 Net cash provided by operating activities $ 182,454 $ 330,615

Investment In Unconsolidated Af

Investment In Unconsolidated Affiliate	6 Months Ended
	Jun. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
Investment In Unconsolidated Affiliate	Investment in Unconsolidated Affiliate LSV Asset Management The Company has an investment in LSV Asset Management (LSV), a registered investment advisor that provides investment advisory services primarily to institutions, including pension plans and investment companies. LSV is currently an investment sub-advisor for a limited number of SEI-sponsored investment products. The Company's partnership interest in LSV as of June 30, 2023 was 38.6%. The Company accounts for its interest in LSV using the equity method because of its less than 50% ownership. The Company’s interest in the net assets of LSV is reflected in Investment in unconsolidated affiliate on the accompanying Consolidated Balance Sheets and its interest in the earnings of LSV is reflected in Equity in earnings of unconsolidated affiliate on the accompanying Consolidated Statements of Operations. At June 30, 2023, the Company’s total investment in LSV was $54,318. The Company receives partnership distributions from LSV on a quarterly basis. The Company received partnership distributions from LSV of $61,452 and $69,824 in the six months ended June 30, 2023 and 2022, respectively. As such, the Company considers these distribution payments as returns on investment rather than returns of the Company's original investment in LSV and has therefore classified the associated cash inflows as an operating activity on the Consolidated Statements of Cash Flows. The Company’s proportionate share in the earnings of LSV was $32,711 and $29,813 during the three months ended June 30, 2023 and 2022, respectively. During the six months ended June 30, 2023 and 2022, the Company's proportionate share in the earnings of LSV was $61,590 and $62,272, respectively. These tables contain condensed financial information of LSV: Condensed Statement of Operations Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Revenues $ 108,836 $ 99,814 $ 207,028 $ 208,264 Net income 84,779 77,193 159,553 160,984 Condensed Balance Sheets June 30, 2023 December 31, 2022 Current assets $ 130,951 $ 158,326 Non-current assets 6,972 6,019 Total assets $ 137,923 $ 164,345 Current liabilities $ 50,950 $ 77,306 Non-current liabilities 2,625 3,050 Partners’ capital 84,348 83,989 Total liabilities and partners’ capital $ 137,923 $ 164,345

Composition of Certain Financia

Composition of Certain Financial Statement Captions	6 Months Ended
	Jun. 30, 2023
Items Included in Consolidated Statement of Financial Condition [Abstract]
Composition of Certain Financial Statement Captions	Composition of Certain Financial Statement Captions Receivables Receivables on the accompanying Consolidated Balance Sheets consist of: June 30, 2023 December 31, 2022 Trade receivables $ 136,677 $ 110,722 Fees earned, not billed 360,812 320,700 Other receivables 25,047 26,563 522,536 457,985 Less: Allowance for doubtful accounts (936) (901) $ 521,600 $ 457,084 Fees earned, not billed represents receivables from contracts with customers earned but unbilled and results from timing differences between services provided and contractual billing schedules. These billing schedules generally provide for fees to be billed on a quarterly basis. In addition, certain fees earned from investment operations services are calculated based on assets under administration that have an extended valuation process. Billings to these clients occur once the asset valuation processes are completed. Receivables from investment products on the accompanying Consolidated Balance Sheets primarily represent fees receivable for distribution, investment advisory, and administration services to various regulated investment companies and other investment products sponsored by SEI. Property and Equipment Property and Equipment on the accompanying Consolidated Balance Sheets consists of: June 30, 2023 December 31, 2022 Buildings $ 216,338 $ 210,626 Equipment 188,063 179,318 Land 26,439 26,439 Purchased software 162,987 160,714 Furniture and fixtures 22,599 21,956 Leasehold improvements 21,562 20,879 Construction in progress 634 1,958 638,622 621,890 Less: Accumulated depreciation (458,119) (440,861) Property and Equipment, net $ 180,503 $ 181,029 The Company recognized $17,312 and $16,384 in depreciation expense related to property and equipment for the six months ended June 30, 2023 and 2022, respectively. Deferred Contract Costs Deferred contract costs, which primarily consist of deferred sales commissions, were $38,561 and $37,928 as of June 30, 2023 and December 31, 2022, respectively. The Company deferred expenses related to contract costs of $3,225 and $1,543 during the three months ended June 30, 2023 and 2022, respectively. During the six months ended June 30, 2023 and 2022, the Company deferred expenses related to contract costs of $4,969 and $5,062, respectively. Amortization expense related to deferred contract costs were $4,336 and $5,945 during the six months ended June 30, 2023 and 2022, respectively. Amortization expense during the six months ended June 30, 2022 includes $1,784 in expense accelerated as a result of the termination of a contractual agreement with a significant client (See Note 13). Amortization expense related to deferred contract costs is included in Compensation, benefits and other personnel on the accompanying Consolidated Statements of Operations. There were no material impairment losses in relation to deferred contract costs during the six months ended June 30, 2023. Accrued Liabilities Accrued liabilities on the accompanying Consolidated Balance Sheets consist of: June 30, 2023 December 31, 2022 Accrued employee compensation $ 58,627 $ 100,566 Accrued employee benefits and other personnel 4,353 9,852 Accrued voluntary separation program 33,892 53,821 Accrued consulting, outsourcing and professional fees 38,106 37,009 Accrued sub-advisory, distribution and other asset management fees 50,259 52,916 Accrued dividend payable 291 58,051 Other accrued liabilities 51,636 47,148 Total accrued liabilities $ 237,164 $ 359,363

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value MeasurementsThe fair value of the Company’s financial assets and liabilities, except for the Company's investment funds sponsored by LSV, is determined in accordance with the fair value hierarchy. The fair value of the Company’s Level 1 financial assets consist mainly of investments in open-ended mutual funds that are quoted daily. Level 2 financial assets consist of 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 2023 to 2041. The fair value of the Company's investment 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 funds allow for investor redemptions at the end of each calendar month. This investment has not been classified in the fair value hierarchy but is presented in the tables below to permit reconciliation to the amounts presented on the accompanying Consolidated Balance Sheets. The valuation of the Company's Level 2 financial assets held by SIDCO and SPTC are based upon securities pricing policies and procedures utilized by third-party pricing vendors. The pricing policies and procedures applied for our Level 1 and Level 2 financial assets during the six months ended June 30, 2023 were consistent with those as described in the Company's Annual Report on Form 10-K at December 31, 2022. The Company had no Level 3 financial assets at June 30, 2023 or December 31, 2022 that were required to be measured at fair value on a recurring basis. There were no transfers of financial assets between levels within the fair value hierarchy during the six months ended June 30, 2023. The fair value of certain financial assets of the Company was determined using the following inputs: Fair Value Measurements at the End of the Reporting Period Using Assets June 30, 2023 Quoted Prices in Significant Equity securities $ 10,826 $ 10,826 $ — Available-for-sale debt securities 105,965 — 105,965 Fixed-income securities owned 31,040 — 31,040 Investment funds sponsored by LSV (1) 6,772 $ 154,603 $ 10,826 $ 137,005 Fair Value Measurements at the End of the Reporting Period Using Assets December 31, 2022 Quoted Prices in Significant Equity securities $ 10,900 $ 10,900 $ — Available-for-sale debt securities 117,301 — 117,301 Fixed-income securities owned 32,148 — 32,148 Investment funds sponsored by LSV (1) 6,366 $ 166,715 $ 10,900 $ 149,449

Marketable Securities

Marketable Securities	6 Months Ended
	Jun. 30, 2023
Marketable Securities [Abstract]
Marketable Securities	Marketable Securities Marketable securities include investments in money market funds and commercial paper classified as cash equivalents, available-for-sale debt securities, investments in SEI-sponsored and non-SEI-sponsored mutual funds, equities, investments in funds sponsored by LSV and securities owned by SIDCO. Cash Equivalents Investments in money market funds and commercial paper classified as cash equivalents had a fair value of $470,591 and $450,240 at June 30, 2023 and December 31, 2022, respectively. There were no material unrealized or realized gains or losses from these investments during the six months ended June 30, 2023 and 2022. Investments in money market funds and commercial paper are Level 1 assets. Available for Sale and Equity Securities Available For Sale and Equity Securities on the accompanying Consolidated Balance Sheets consist of: At June 30, 2023 Cost Gross Gross Fair Available-for-sale debt securities $ 117,727 $ — $ (11,762) $ 105,965 SEI-sponsored mutual funds 5,315 206 (29) 5,492 Equities and other mutual funds 5,044 290 — 5,334 $ 128,086 $ 496 $ (11,791) $ 116,791 At December 31, 2022 Cost Gross Gross Fair Available-for-sale debt securities $ 129,372 $ — $ (12,071) $ 117,301 SEI-sponsored mutual funds 6,207 — (176) 6,031 Equities and other mutual funds 5,026 — (157) 4,869 $ 140,605 $ — $ (12,404) $ 128,201 Net unrealized losses at June 30, 2023 of available-for-sale debt securities were $9,057 (net of income tax benefit of $2,705). Net unrealized losses at December 31, 2022 of available-for-sale debt securities were $9,294 (net of income tax benefit of $2,777). These unrealized losses are associated with the Company’s investments in mortgage-backed securities issued by GNMA and were caused by interest rate increases (See Note 4). The contractual cash flows of these securities are guaranteed by an agency of the U.S. government. Accordingly, it is expected that the securities would not be settled at a price less than the amortized cost bases of the Company's investments. The Company does not intend to sell the investments and it is not likely that the Company will be required to sell the investments before recovery of their amortized cost bases. These net unrealized losses are reported as a separate component of Accumulated other comprehensive loss on the accompanying Consolidated Balance Sheets. There were gross realized losses of $122 and $414 from available-for-sale debt securities during the six months ended June 30, 2023 and 2022, respectively. There were no gross realized gains from available-for-sale debt securities during the six months ended June 30, 2023 and 2022. Realized losses from available-for-sale debt securities, including amounts reclassified from accumulated comprehensive loss, are reflected in Net gain (loss) from investments on the accompanying Consolidated Statements of Operations. There were gross realized gains of $44 and gross realized losses of $49 from mutual funds and equities during the six months ended June 30, 2023. There were gross realized gains of $7 and gross realized losses of $658 from mutual funds and equities during the six months ended June 30, 2022. Gains and losses from mutual funds and equities are reflected in Net gain (loss) from investments on the accompanying Consolidated Statements of Operations. Investments in Affiliated Funds The Company has an investment in funds sponsored by LSV. The Company records this investment on the accompanying Consolidated Balance Sheets at fair value. Unrealized gains and losses from the change in fair value of these funds are recognized in Net gain (loss) from investments on the accompanying Consolidated Statements of Operations. The funds had a fair value of $6,772 and $6,366 at June 30, 2023 and December 31, 2022, respectively. The Company recognized unrealized gains of $235 and unrealized losses of $1,270 during the three months ended June 30, 2023 and 2022, respectively, from the change in fair value of the funds. The Company recognized unrealized gains of $406 and unrealized losses of $916 during the six months ended June 30, 2023 and 2022, respectively, from the change in fair value of the funds. Securities Owned The Company’s broker-dealer subsidiary, SIDCO, has investments in U.S. government agency securities with maturity dates less than one year. These investments are reflected as Securities owned on the accompanying Consolidated Balance Sheets. Due to specialized accounting practices applicable to investments by broker-dealers, the securities are reported at fair value and changes in fair value are recorded in current period earnings. The securities had a fair value of $31,040 and $32,148 at June 30, 2023 and December 31, 2022, respectively. There were no material net gains or losses related to the securities during the three and six months ended June 30, 2023 and 2022.

Line of Credit

Line of Credit	6 Months Ended
	Jun. 30, 2023
Line of Credit Facility [Abstract]
Line of Credit	Line of Credit The Company has a five-year $325,000 Credit Agreement (the Credit Facility) with Wells Fargo Bank, N.A., and a syndicate of other lenders. The Credit Facility is scheduled to expire in April 2026, at which time any aggregate principal amount of loans outstanding becomes payable in full. Any borrowings made under the Credit Facility will accrue interest at rates that, at the Company's option, are based on a base rate (the Base Rate) plus a premium that can range from 0.25% to 1.00% or the Adjusted Term Secured Overnight Financing Rate (SOFR) plus a premium that can range from 1.25% to 2.00% depending on the Company’s Leverage Ratio (a ratio of consolidated indebtedness to consolidated EBITDA for the four preceding fiscal quarters, all as defined in the related agreement). The Base Rate is defined as the highest of a) the Prime Rate, b) the Federal Funds Rate plus 0.50% and c) the Adjusted Term SOFR for a one-month tenor in effect on such day plus 1.00%. The Company also pays quarterly commitment fees based on the unused portion of the Credit Facility. The quarterly fees for the Credit Facility can range from 0.15% of the amount of the unused portion to 0.30%, depending on the Company’s Leverage Ratio. Certain wholly-owned subsidiaries of the Company have guaranteed the obligations of the Company under the agreement. The aggregate amount of the Credit Facility may be increased by an additional $100,000 under certain conditions set forth in the agreement. The Company may issue up to $15,000 in letters of credit under the terms of the Credit Facility. The Company pays a periodic commission fee of 1.25% plus an issuance fee of 0.20% of the aggregate face amount of the outstanding letters of credit issued under the Credit Facility. The Credit Facility contains covenants with restrictions on the ability of the Company to do transactions with affiliates other than wholly-owned subsidiaries or to incur liens or certain types of indebtedness as defined in the agreement. In the event of a default under the Credit Facility, the Company would also be restricted from paying dividends on, or repurchasing, its common stock without the approval of the lenders. Upon the occurrence of certain financial or economic events, significant corporate events, or certain other events of default constituting an event of default under the Credit Facility, all loans outstanding may be declared immediately due and payable and all commitments under the agreement may be terminated. On April 17, 2023, the Company and the lenders amended the Credit Facility to add SOFR as an alternative reference rate for borrowings in place of LIBOR. All other terms and conditions of the original agreement remain in effect. The Company was in compliance with all covenants of the Credit Facility during the six months ended June 30, 2023. As of July 13, 2023, the Company had outstanding letters of credit of $4,866 under the Credit Facility. These letters of credit were issued primarily for the expansion of the Company's headquarters and are scheduled to expire during 2023. The amount of the Credit Facility that is available for general corporate purposes as of July 13, 2023 was $320,134.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders’ Equity Stock-Based Compensation The Company has only non-qualified stock options and restricted stock units outstanding under its equity compensation plans. The Company recognized stock-based compensation expense in its Consolidated Financial Statements in the three and six months ended June 30, 2023 and 2022, respectively, as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Stock-based compensation expense $ 7,405 $ 10,007 $ 15,479 $ 20,573 Less: Deferred tax benefit (1,347) (1,839) (2,839) (3,934) Stock-based compensation expense, net of tax $ 6,058 $ 8,168 $ 12,640 $ 16,639 All outstanding stock options have performance-based vesting provisions specific to each option grant that tie the vesting of the applicable stock options to the Company’s financial performance. The Company’s stock options vest at a rate of 50% when a specified financial vesting target is achieved, and the remaining 50% when a second, higher specified financial vesting target is achieved. Options vest as a result of achievement of the financial vesting targets. Options granted in December 2017 and thereafter include a service condition which requires a minimum two period, or reversed. This may cause volatility in the recognition of stock-based compensation expense in future periods and could materially affect the Company’s earnings. The Company revised its estimate of when some vesting targets are expected to be achieved. This change in management's estimate resulted in a decrease of $2,776 in stock-based compensation expense during the six months ended June 30, 2023. As of June 30, 2023, there was approximately $99,899 of unrecognized compensation cost remaining related to unvested employee stock options and restricted stock units that management expects will vest and is being amortized. The Company issues new common shares associated with the exercise of stock options. The total intrinsic value of options exercised during the six months ended June 30, 2023 was $10,019. The total options exercisable as of June 30, 2023 had an intrinsic value of $67,512. The total intrinsic value for options exercisable is calculated as the difference between the market value of the Company’s common stock as of June 30, 2023 and the weighted average exercise price of the options. The market value of the Company’s common stock as of June 30, 2023 was $59.62 as reported by the Nasdaq Stock Market, LLC. The weighted average exercise price of the options exercisable as of June 30, 2023 was $53.17. Total options that were outstanding as of June 30, 2023 were 17,509,000 . Total options that were exercisable as of June 30, 2023 were 8,325,000 . Common Stock Buyback The Company’s Board of Directors, under multiple authorizations, has authorized the repurchase of common stock on the open market or through private transactions. The Company purchased 2,651,000 shares at a total cost of $155,869 during the six months ended June 30, 2023, which reduced the total shares outstanding of common stock. The cost of stock purchases during the period includes the cost of excise taxes applicable to stock repurchases and certain transactions that settled in the following quarter. On April 18, 2023, the Company's Board of Directors approved an increase in the stock repurchase program by an additional $250,000. As of June 30, 2023, the Company had approximately $186,983,274 of authorization remaining for the purchase of common stock under the program. The Company immediately retires its common stock when purchased. Upon retirement, the Company reduces Capital in excess of par value for the average capital per share outstanding and the remainder is charged against Retained earnings. If the Company reduces its Retained earnings to zero, any subsequent purchases of common stock will be charged entirely to Capital in excess of par value. Cash Dividend On May 31, 2023, the Board of Directors declared a cash dividend of $0.43 per share on the Company's common stock, which was paid on June 21, 2023, to shareholders of record on June 12, 2023. Cash dividends declared during the six months ended June 30, 2023 and 2022 were $57,177 and $54,378, respectively.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The components of Accumulated other comprehensive loss, net of tax, are as follows: Foreign Currency Translation Adjustments Unrealized Accumulated Other Comprehensive Loss Balance, January 1, 2023 $ (39,673) $ (9,294) $ (48,967) Other comprehensive income before reclassifications 8,751 144 8,895 Amounts reclassified from accumulated other comprehensive loss — 93 93 Net current-period other comprehensive income 8,751 237 8,988 Balance, June 30, 2023 $ (30,922) $ (9,057) $ (39,979)

Business Segment Information

Business Segment Information	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information The Company’s reportable business segments are: Private Banks – Provides outsourced investment processing and investment management platforms to banks and trust institutions, independent wealth advisers and financial advisors worldwide; Investment Advisors – Provides investment management and investment processing platforms to affluent investors through a network of independent registered investment advisors, financial planners and other investment professionals in the United States; Institutional Investors – Provides Outsourced Chief Investment Officer and Enhanced Chief Investment Officer solutions, including investment management and administrative outsourcing platforms to retirement plan sponsors, healthcare systems, higher education and other not-for-profit organizations worldwide; Investment Managers – Provides investment operations outsourcing platforms to fund companies, banking institutions, traditional and non-traditional investment managers worldwide and family offices in the United States; and Investments in New Businesses – Focuses on providing investment management solutions to ultra-high-net-worth families residing in the United States; developing network and data protection services; modularizing larger technology platforms; entering new markets; and conducting other research and development activities. The information in the following tables is derived from internal financial reporting used for corporate management purposes. There are no inter-segment revenues for the three and six months ended June 30, 2023 and 2022. Assets are not allocated to segments for internal reporting purposes. The accounting policies of the reportable business segments are the same as those described in Note 1 to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. The following tables highlight certain financial information about each of the business segments for the three months ended June 30, 2023 and 2022: Private Banks Investment Institutional Investment Investments Total For the Three Months Ended June 30, 2023 Revenues $ 134,099 $ 109,580 $ 75,145 $ 165,339 $ 4,894 $ 489,057 Expenses 116,061 64,178 45,516 107,761 10,571 344,087 Operating profit (loss) $ 18,038 $ 45,402 $ 29,629 $ 57,578 $ (5,677) $ 144,970 Private Investment Institutional Investment Investments Total For the Three Months Ended June 30, 2022 Revenues $ 124,184 $ 113,194 $ 83,483 $ 155,926 $ 4,883 $ 481,670 Expenses 121,060 63,375 43,925 100,807 12,844 342,011 Operating profit (loss) $ 3,124 $ 49,819 $ 39,558 $ 55,119 $ (7,961) $ 139,659 A reconciliation of the total operating profit reported for the business segments to income from operations in the Consolidated Statements of Operations for the three months ended June 30, 2023 and 2022 is as follows: 2023 2022 Total operating profit from segments $ 144,970 $ 139,659 Corporate overhead expenses (32,369) (23,799) Income from operations $ 112,601 $ 115,860 The following tables provide additional information for the three months ended June 30, 2023 and 2022 pertaining to the business segments: Capital Expenditures (1) Depreciation 2023 2022 2023 2022 Private Banks $ 8,001 $ 8,541 $ 5,450 $ 5,554 Investment Advisors 3,615 3,423 549 469 Institutional Investors 457 1,028 303 285 Investment Managers 2,592 4,113 2,210 1,755 Investments in New Businesses 202 208 63 44 Total from business segments $ 14,867 $ 17,313 $ 8,575 $ 8,107 Corporate overhead 362 445 206 179 $ 15,229 $ 17,758 $ 8,781 $ 8,286 (1) Capital expenditures include additions to property and equipment and capitalized software. Amortization 2023 2022 Private Banks $ 4,718 $ 8,261 Investment Advisors 1,945 3,158 Institutional Investors 1,829 2,257 Investment Managers 929 2,577 Investments in New Businesses 144 185 Total from business segments $ 9,565 $ 16,438 Corporate overhead 65 70 $ 9,630 $ 16,508 The following tables highlight certain financial information about each of business segment for the six months ended June 30, 2023 and 2022: Private Investment Institutional Investment Investments Total For the Six Months Ended June 30, 2023 Revenues $ 256,702 $ 216,118 $ 149,435 $ 326,025 $ 9,896 $ 958,176 Expenses 230,337 127,724 86,384 213,627 22,215 680,287 Operating profit (loss) $ 26,365 $ 88,394 $ 63,051 $ 112,398 $ (12,319) $ 277,889 Private Investment Institutional Investment Investments Total For the Six Months Ended June 30, 2022 Revenues $ 337,732 $ 232,424 $ 170,322 $ 312,827 $ 9,808 $ 1,063,113 Expenses 243,015 127,895 89,283 199,644 24,794 684,631 Operating profit (loss) $ 94,717 $ 104,529 $ 81,039 $ 113,183 $ (14,986) $ 378,482 A reconciliation of the total operating profit reported for the business segments to income from operations in the Consolidated Statements of Operations for the six months ended June 30, 2023 and 2022: 2023 2022 Total operating profit from segments $ 277,889 $ 378,482 Corporate overhead expenses (63,521) (47,823) Income from operations $ 214,368 $ 330,659 The following tables provide additional information for the six months ended June 30, 2023 and 2022: Capital Expenditures (2) Depreciation 2023 2022 2023 2022 Private Banks $ 17,072 $ 15,763 $ 10,804 $ 10,660 Investment Advisors 7,954 6,450 1,017 925 Institutional Investors 1,105 1,977 585 574 Investment Managers 7,198 8,137 4,365 3,775 Investments in New Businesses 544 413 131 88 Total from business segments $ 33,873 $ 32,740 $ 16,902 $ 16,022 Corporate Overhead 977 890 410 362 $ 34,850 $ 33,630 $ 17,312 $ 16,384 (2) Capital expenditures include additions to property and equipment and capitalized software. Amortization 2023 2022 Private Banks $ 9,364 $ 16,800 Investment Advisors 3,763 6,391 Institutional Investors 3,653 4,540 Investment Managers 1,856 5,153 Investments in New Businesses 289 370 Total from business segments $ 18,925 $ 33,254 Corporate Overhead 129 141 $ 19,054 $ 33,395

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The gross liability for unrecognized tax benefits at June 30, 2023 and December 31, 2022 was $16,741 and $15,204, respectively, exclusive of interest and penalties, of which $16,197 and $14,431 would affect the effective tax rate if the Company were to recognize the tax benefit. The Company classifies interest and penalties on unrecognized tax benefits as income tax expense. As of June 30, 2023 and December 31, 2022, the combined amount of accrued interest and penalties related to tax positions taken on tax returns was $1,630 and $1,118, respectively. June 30, 2023 December 31, 2022 Gross liability for unrecognized tax benefits, exclusive of interest and penalties $ 16,741 $ 15,204 Interest and penalties on unrecognized benefits 1,630 1,118 Total gross uncertain tax positions $ 18,371 $ 16,322 Amount included in Current liabilities $ 4,168 $ 4,065 Amount included in Other long-term liabilities 14,203 12,257 $ 18,371 $ 16,322 The effective income tax rate for the three and six months ended June 30, 2023 and 2022 differs from the federal income tax statutory rate due to the following: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Statutory rate 21.0 % 21.0 % 21.0 % 21.0 % State taxes, net of federal tax benefit 2.8 2.8 2.8 2.8 Foreign tax expense and tax rate differential (0.2) (0.1) (0.2) (0.1) Tax benefit from stock option exercises (0.1) (0.3) (0.2) (0.3) Other, net (0.1) (0.3) 0.1 (0.3) 23.4 % 23.1 % 23.5 % 23.1 % The increase in the Company's effective tax rate for the three and six months ended June 30, 2023 was primarily due to decreased tax benefits related to the lower volume of stock option exercises and a decrease in credits associated with research and development as compared to the prior year period. The Company files income tax returns in the United States on a consolidated basis and in many U.S. state and foreign jurisdictions. The Company is subject to examination of income tax returns by the Internal Revenue Service (IRS) and other domestic and foreign tax authorities. The Company is no longer subject to U.S. federal income tax examination for years before 2019 and is no longer subject to state, local or foreign income tax examinations by authorities for years before 2015. The Company estimates it will recognize $4,168 of gross unrecognized tax benefits. This amount is expected to be paid within one year or to be removed at the expiration of the statute of limitations and resolution of income tax audits and is netted against the current payable account. These unrecognized tax benefits are related to tax positions taken on certain federal, state, and foreign tax returns. However, the timing of the resolution of income tax examinations is highly uncertain, and the amounts ultimately paid, if any, upon resolution of the issues raised by the taxing authorities may differ materially from the amounts accrued for each year. While it is reasonably possible that some issues under examination could be resolved in the next twelve months, based upon the current facts and circumstances, the Company cannot reasonably estimate the timing of such resolution or the total range of potential changes as it relates to the current unrecognized tax benefits that are recorded as part of the Company’s financial statements.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesIn the ordinary course of business, the Company from time to time enters into contracts containing indemnification obligations of the Company. These obligations may require the Company to make payments to another party upon the occurrence of certain events including the failure by the Company to meet its performance obligations under the contract. These contractual indemnification provisions are often standard contractual terms of the nature customarily found in the type of contracts entered into by the Company. In many cases, there are no stated or notional amounts included in the indemnification provisions. The amounts recognized as of June 30, 2023 on the Consolidated Balance Sheet related to these indemnifications are not material. There are no amounts recognized on the Consolidated Balance Sheet as of December 31, 2022 related to these indemnifications. Legal Proceedings The Company is a party to various disputes, actions and claims that the Company does not believe are material. The Company believes that the ultimate resolution of these matters will not have a material adverse effect on the Company's financial position or the manner in which the Company conducts its business. Currently, the Company does not believe the amount of losses, if any, associated with these matters can be estimated. While the Company does not believe that the amount of such losses will, when liquidated or estimable, be material to its financial position, the assumptions upon which these beliefs are based may be incorrect and, if so, any such loss could have a material adverse effect on the Company's results of operations or the manner in which the Company conducts its business in the period(s) during which the underlying matters are resolved.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The changes in the carrying amount of the Company's goodwill by segment are as follows: Institutional Investors Investment Managers Investments in New Businesses Total Balance, December 31, 2022 $ 47,108 $ 56,992 $ 11,499 $ 115,599 Foreign currency translation adjustments — 3 — 3 Balance, June 30, 2023 $ 47,108 $ 56,995 $ 11,499 $ 115,602 In April 2018, the Company acquired all ownership interests of Huntington Steele, LLC (Huntington Steele). The total purchase price for Huntington Steele included a contingent purchase price payable to the sellers which is determined at various intervals occurring between 2019 and 2023. The Company made payments of $904 and $868 during the six months ended June 30, 2023 and 2022, respectively, to the sellers. As of June 30, 2023, the remaining amount of the contingent consideration of $8,177 is included in Accrued liabilities on the accompanying Balance Sheet. During July 2023, the Company exercised its option to settle the contingent consideration and made payments totaling $7,985 to the sellers. The Company recognized $6,113 and $6,496 of amortization expense related to acquired intangible assets during the six months ended June 30, 2023 and 2022, respectively.

Revenues from Contracts with Cu

Revenues from Contracts with Customers	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenues from Contracts with Customers	Revenues from Contracts with CustomersThe 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 our 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 June 30, 2023 and 2022: Private Banks Investment Institutional Investment Investments Total Major Product Lines: For the Three Months Ended June 30, 2023 Investment management fees from pooled investment products $ 32,092 $ 61,103 $ 13,154 $ 104 $ 352 $ 106,805 Investment management fees from investment management agreements 824 43,159 56,627 — 4,025 104,635 Investment operations fees 337 — — 152,713 — 153,050 Investment processing fees - PaaS 56,713 2,296 280 75 20 59,384 Investment processing fees - SaaS 28,581 — 2,790 4,296 — 35,667 Professional services fees (1) 14,589 — — 730 — 15,319 Account fees and other 963 3,022 2,294 7,421 497 14,197 Total revenues $ 134,099 $ 109,580 $ 75,145 $ 165,339 $ 4,894 $ 489,057 Primary Geographic Markets: United States $ 91,282 $ 109,580 $ 63,123 $ 150,533 $ 4,894 $ 419,412 United Kingdom 27,984 — 8,684 — — 36,668 Canada 10,148 — 1,447 — — 11,595 Ireland 4,685 — 1,891 8,978 — 15,554 Luxembourg — — — 5,828 — 5,828 Total revenues $ 134,099 $ 109,580 $ 75,145 $ 165,339 $ 4,894 $ 489,057 (1) Professional services fees of the Private Banks segment includes a one-time early contractual buyout fee of $10,457 recorded during the three months ended June 30, 2023 from an investment processing client acquired by an existing client. Private Investment Institutional Investment Investments Total Major Product Lines: For the Three Months Ended June 30, 2022 Investment management fees from pooled investment products $ 31,993 $ 67,490 $ 15,700 $ 123 $ 402 $ 115,708 Investment management fees from investment management agreements 616 40,398 63,212 — 4,073 108,299 Investment operations fees 344 — — 144,742 — 145,086 Investment processing fees - PaaS 56,378 — — — — 56,378 Investment processing fees - SaaS 29,845 — 3,021 3,911 — 36,777 Professional services fees 4,096 — — 635 — 4,731 Account fees and other 912 5,306 1,550 6,515 408 14,691 Total revenues $ 124,184 $ 113,194 $ 83,483 $ 155,926 $ 4,883 $ 481,670 Primary Geographic Markets: United States $ 96,115 $ 113,194 $ 68,702 $ 142,350 $ 4,883 $ 425,244 United Kingdom 13,036 — 11,283 — — 24,319 Canada 11,023 — 1,424 — — 12,447 Ireland 4,010 — 1,963 9,416 — 15,389 Luxembourg — — 4,160 4,160 Other — — 111 — — 111 Total revenues $ 124,184 $ 113,194 $ 83,483 $ 155,926 $ 4,883 $ 481,670 The following tables provide additional information pertaining to our 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 six months ended June 30, 2023 and 2022: Private Investment Institutional Investment Investments Total Major Product Lines: For the Six Months Ended June 30, 2023 Investment management fees from pooled investment products $ 64,313 $ 121,708 $ 24,437 $ 230 $ 690 $ 211,378 Investment management fees from investment management agreements 1,310 83,825 115,562 — 8,242 208,939 Investment operations fees 683 — — 299,907 — 300,590 Investment processing fees - PaaS 114,298 2,296 280 75 20 116,969 Investment processing fees - SaaS 55,398 — 5,441 8,417 — 69,256 Professional services fees (2) 18,675 — — 2,244 — 20,919 Account fees and other 2,025 8,289 3,715 15,152 944 30,125 Total revenues $ 256,702 $ 216,118 $ 149,435 $ 326,025 $ 9,896 $ 958,176 Primary Geographic Markets: United States $ 171,452 $ 216,118 $ 125,341 $ 296,805 $ 9,896 $ 819,612 United Kingdom 55,830 — 17,779 — — 73,609 Canada 20,238 — 2,816 — — 23,054 Ireland 9,182 — 3,499 18,003 — 30,684 Luxembourg — — — 11,217 — 11,217 Total revenues $ 256,702 $ 216,118 $ 149,435 $ 326,025 $ 9,896 $ 958,176 (2) Professional services fees of the Private Banks segment includes a one-time early contractual buyout fee of $10,457 recorded during during the three months ended June 30, 2023 from an investment processing client acquired by an existing client. Private Investment Institutional Investment Investments Total Major Product Lines: For the Six Months Ended June 30, 2022 Investment management fees from pooled investment products $ 65,111 $ 139,483 $ 29,566 $ 207 $ 769 $ 235,136 Investment management fees from investment management agreements 871 82,406 131,672 — 8,199 223,148 Investment operations fees 704 — — 290,121 — 290,825 Investment processing fees - PaaS 112,833 — — — — 112,833 Investment processing fees - SaaS 59,404 — 6,131 7,569 — 73,104 Professional services fees (3) 96,825 — — 1,024 — 97,849 Account fees and other 1,984 10,535 2,953 13,906 840 30,218 Total revenues $ 337,732 $ 232,424 $ 170,322 $ 312,827 $ 9,808 $ 1,063,113 Primary Geographic Markets: United States $ 177,001 $ 232,424 $ 139,265 $ 286,375 $ 9,808 $ 844,873 United Kingdom 129,699 — 24,032 — — 153,731 Canada 22,823 — 2,666 — — 25,489 Ireland 8,209 — 4,130 19,238 — 31,577 Luxembourg — — 7,214 7,214 Other — — 229 — — 229 Total revenues $ 337,732 $ 232,424 $ 170,322 $ 312,827 $ 9,808 $ 1,063,113 (3) Professional services fees of the Private Banks segment includes one-time early termination fees of $88,000 related to a contractual agreement with a significant client of the Company. In accordance with Accounting Standards Codification 606, the entire amount of the fees received were recorded during the three months ended March 31, 2022 as there were no future performance obligations of the Company related to the agreement upon termination. 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. Revenues 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. 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 clients of the Investment Managers segment processed on the Archway Platform SM are fees for hosted technology services 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 is 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 Novus SM 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.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On July 13, 2023, the Company announced that SEI Investments (Europe) Limited (SIEL), its wholly-owned operating subsidiary in the United Kingdom, has entered into an option agreement to acquire the outstanding equity of XPS Pensions (Nexus) Limited, principal employer and scheme funder of the National Pensions Trust (NPT), from its parent company, XPS Pensions Group PLC (XPS). The total cash consideration payable to XPS for Nexus is up to £42,500, comprised of a £35,000 initial consideration paid at closing and deferred consideration of up to £7,500 that may be earned over two years after the closing, subject to the achievement of certain post-closing performance measurements. The transaction is expected to close before year end, subject to applicable regulatory approval and other customary closing conditions.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of PresentationThe accompanying Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America.
Variable Interest Entities	Variable Interest Entities The Company or its affiliates have created numerous investment products for its clients in various types of legal entity structures. The Company serves as the Manager, Administrator and Distributor for these investment products and may also serve as the Trustee for some of the investment products. The Company receives asset management, distribution, administration and custodial fees for these services. Clients are the equity investors and participate in proportion to their ownership percentage in the net income or loss and net capital gains or losses of the products, and, on liquidation, will participate in proportion to their ownership percentage in the remaining net assets of the products after satisfaction of outstanding liabilities. The Company has concluded that it is not the primary beneficiary of the entities and, therefore, is not required to consolidate any of the pooled investment vehicles for which it receives asset management, distribution, administration and custodial fees under the VIE model. The Company is a party to expense limitation agreements with certain SEI-sponsored money market funds subject to Rule 2a-7 of the Investment Company Act of 1940 which establish a maximum level of ordinary operating expenses incurred by
Revenue Recognition	Revenue RecognitionRevenue is recognized when the transfer of control of promised goods or services under the terms of a contract with customers are satisfied in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those promised goods or services. Certain portions of the Company’s revenues involve a third party in providing goods or services to its customers. In such circumstances, the Company must determine whether the nature of its promise to the customer is to provide the underlying goods or services (the Company is the principal in the transaction and reports the transaction gross) or to arrange for a third party to provide the underlying goods or services (the entity is the agent in the transaction and reports the transaction net).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. 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. Revenues 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. 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 clients of the Investment Managers segment processed on the Archway Platform SM are fees for hosted technology services 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 is 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 Novus SM 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.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents includes $304,611 and $305,434 at June 30, 2023 and December 31, 2022, respectively, primarily invested in SEI-sponsored open-ended money market mutual funds. Statements of Cash Flows For purposes of the Consolidated Statements of Cash Flows, the Company considers investment instruments purchased with an original maturity of three months or less to be cash equivalents.
Restricted Cash	Restricted CashRestricted cash includes $250 at June 30, 2023 and December 31, 2022 segregated for regulatory purposes related to trade-execution services conducted by SEI Investments (Europe) Limited. Restricted cash also includes $50 and $101 at June 30, 2023 and December 31, 2022, respectively, segregated in special reserve accounts for the benefit of customers of the Company’s broker-dealer subsidiary, SEI Investments Distribution Co. (SIDCO), in accordance with certain rules established by the Securities and Exchange Commission (SEC) for broker-dealers.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805) Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (ASU 2021-08). This update amends Topic 805 to add contract assets and contract liabilities to the list of exceptions to the recognition and measurement principles that apply to business combinations and to require that an entity (acquirer) recognize and measure contract assets and contract liabilities in accordance with ASC 606. The Company adopted ASU 2021-08 on January 1, 2023. There was no material impact to the Company's consolidated financial statements from the implementation of ASU 2021-08.
Equity Method Investments	The Company accounts for its interest in LSV using the equity method because of its less than 50% ownership. The Company’s interest in the net assets of LSV is reflected in Investment in unconsolidated affiliate on the accompanying Consolidated Balance Sheets and its interest in the earnings of LSV is reflected in Equity in earnings of unconsolidated affiliate on the accompanying Consolidated Statements of Operations.
Fair Value of Financial Instruments	The fair value of the Company’s financial assets and liabilities, except for the Company's investment funds sponsored by LSV, is determined in accordance with the fair value hierarchy. The fair value of the Company’s Level 1 financial assets consist mainly of investments in open-ended mutual funds that are quoted daily. Level 2 financial assets consist of 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 2023 to 2041. The fair value of the Company's investment 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 funds allow for investor redemptions at the end of each calendar month. This investment has not been classified in the fair value hierarchy but is presented in the tables below to permit reconciliation to the amounts presented on the accompanying Consolidated Balance Sheets. The valuation of the Company's Level 2 financial assets held by SIDCO and SPTC are based upon securities pricing policies and procedures utilized by third-party pricing vendors.
Investments in Affiliated Funds	The fair value of the Company's investment 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 funds allow for investor redemptions at the end of each calendar month. This investment has not been classified in the fair value hierarchy but is presented in the tables below to permit reconciliation to the amounts presented on the accompanying Consolidated Balance Sheets.
Available-for-sale Securities	These net unrealized losses are reported as a separate component of Accumulated other comprehensive loss on the accompanying Consolidated Balance Sheets.
Securities Owned	Securities OwnedThe Company’s broker-dealer subsidiary, SIDCO, has investments in U.S. government agency securities with maturity dates less than one year. These investments are reflected as Securities owned on the accompanying Consolidated Balance Sheets. Due to specialized accounting practices applicable to investments by broker-dealers, the securities are reported at fair value and changes in fair value are recorded in current period earnings.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Schedule of Calculation of Basic and Diluted Earnings Per Share	The calculations of basic and diluted earnings per share for the three and six months ended June 30, 2023 and 2022 are: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Net income $ 118,851 $ 111,276 $ 225,866 $ 301,584 Shares used to compute basic earnings per common share 132,854,000 136,435,000 133,437,000 137,185,000 Dilutive effect of stock options 1,082,000 1,382,000 1,186,000 1,579,000 Shares used to compute diluted earnings per common share 133,936,000 137,817,000 134,623,000 138,764,000 Basic earnings per common share $ 0.89 $ 0.82 $ 1.69 $ 2.20 Diluted earnings per common share $ 0.89 $ 0.81 $ 1.68 $ 2.17
Schedule of Adjustments To Reconcile Net Income To Net Cash Provided By Operating Activities	The following table provides the details of the adjustments to reconcile net income to net cash provided by operating activities for the six months ended June 30: 2023 2022 Net income $ 225,866 $ 301,584 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 17,312 16,384 Amortization 19,054 33,395 Equity in earnings of unconsolidated affiliate (61,590) (62,272) Distributions received from unconsolidated affiliate 61,452 69,824 Stock-based compensation 15,479 20,573 Provision for losses on receivables 35 350 Deferred income tax expense (12,600) (23,506) Net (gain) loss from investments (1,259) 3,109 Change in other long-term liabilities 1,946 1,998 Change in other assets (71) (3,111) Contract costs capitalized, net of amortization (633) 883 Other 2,443 (1,521) Change in current assets and liabilities (Increase) decrease in Receivables from investment products 5,710 4,125 Receivables (64,551) (25,523) Other current assets (6,907) (7,014) Advances due from unconsolidated affiliate 50,493 53,500 (Decrease) increase in Accounts payable (6,063) (7) Accrued liabilities (63,682) (55,734) Deferred revenue 20 3,578 Total adjustments (43,412) 29,031 Net cash provided by operating activities $ 182,454 $ 330,615

Investment In Unconsolidated _2

Investment In Unconsolidated Affiliate (Tables)	6 Months Ended
	Jun. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Equity Method Investments	These tables contain condensed financial information of LSV: Condensed Statement of Operations Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Revenues $ 108,836 $ 99,814 $ 207,028 $ 208,264 Net income 84,779 77,193 159,553 160,984 Condensed Balance Sheets June 30, 2023 December 31, 2022 Current assets $ 130,951 $ 158,326 Non-current assets 6,972 6,019 Total assets $ 137,923 $ 164,345 Current liabilities $ 50,950 $ 77,306 Non-current liabilities 2,625 3,050 Partners’ capital 84,348 83,989 Total liabilities and partners’ capital $ 137,923 $ 164,345

Composition of Certain Financ_2

Composition of Certain Financial Statement Captions (Tables)	6 Months Ended
	Jun. 30, 2023
Items Included in Consolidated Statement of Financial Condition [Abstract]
Schedule of Receivables	Receivables on the accompanying Consolidated Balance Sheets consist of: June 30, 2023 December 31, 2022 Trade receivables $ 136,677 $ 110,722 Fees earned, not billed 360,812 320,700 Other receivables 25,047 26,563 522,536 457,985 Less: Allowance for doubtful accounts (936) (901) $ 521,600 $ 457,084
Schedule of Property And Equipment	Property and Equipment on the accompanying Consolidated Balance Sheets consists of: June 30, 2023 December 31, 2022 Buildings $ 216,338 $ 210,626 Equipment 188,063 179,318 Land 26,439 26,439 Purchased software 162,987 160,714 Furniture and fixtures 22,599 21,956 Leasehold improvements 21,562 20,879 Construction in progress 634 1,958 638,622 621,890 Less: Accumulated depreciation (458,119) (440,861) Property and Equipment, net $ 180,503 $ 181,029
Schedule of Accrued Liabilities	Accrued liabilities on the accompanying Consolidated Balance Sheets consist of: June 30, 2023 December 31, 2022 Accrued employee compensation $ 58,627 $ 100,566 Accrued employee benefits and other personnel 4,353 9,852 Accrued voluntary separation program 33,892 53,821 Accrued consulting, outsourcing and professional fees 38,106 37,009 Accrued sub-advisory, distribution and other asset management fees 50,259 52,916 Accrued dividend payable 291 58,051 Other accrued liabilities 51,636 47,148 Total accrued liabilities $ 237,164 $ 359,363

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value Of Certain Financial Assets And Liabilities	The fair value of certain financial assets of the Company was determined using the following inputs: Fair Value Measurements at the End of the Reporting Period Using Assets June 30, 2023 Quoted Prices in Significant Equity securities $ 10,826 $ 10,826 $ — Available-for-sale debt securities 105,965 — 105,965 Fixed-income securities owned 31,040 — 31,040 Investment funds sponsored by LSV (1) 6,772 $ 154,603 $ 10,826 $ 137,005 Fair Value Measurements at the End of the Reporting Period Using Assets December 31, 2022 Quoted Prices in Significant Equity securities $ 10,900 $ 10,900 $ — Available-for-sale debt securities 117,301 — 117,301 Fixed-income securities owned 32,148 — 32,148 Investment funds sponsored by LSV (1) 6,366 $ 166,715 $ 10,900 $ 149,449

Marketable Securities (Tables)

Marketable Securities (Tables)	6 Months Ended
	Jun. 30, 2023
Marketable Securities [Abstract]
Schedule of Available For Sale and Equity Securities	Available For Sale and Equity Securities on the accompanying Consolidated Balance Sheets consist of: At June 30, 2023 Cost Gross Gross Fair Available-for-sale debt securities $ 117,727 $ — $ (11,762) $ 105,965 SEI-sponsored mutual funds 5,315 206 (29) 5,492 Equities and other mutual funds 5,044 290 — 5,334 $ 128,086 $ 496 $ (11,791) $ 116,791 At December 31, 2022 Cost Gross Gross Fair Available-for-sale debt securities $ 129,372 $ — $ (12,071) $ 117,301 SEI-sponsored mutual funds 6,207 — (176) 6,031 Equities and other mutual funds 5,026 — (157) 4,869 $ 140,605 $ — $ (12,404) $ 128,201

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan	The Company recognized stock-based compensation expense in its Consolidated Financial Statements in the three and six months ended June 30, 2023 and 2022, respectively, as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Stock-based compensation expense $ 7,405 $ 10,007 $ 15,479 $ 20,573 Less: Deferred tax benefit (1,347) (1,839) (2,839) (3,934) Stock-based compensation expense, net of tax $ 6,058 $ 8,168 $ 12,640 $ 16,639

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule Of Accumulated Other Comprehensive Income (Loss), Net Of Tax	The components of Accumulated other comprehensive loss, net of tax, are as follows: Foreign Currency Translation Adjustments Unrealized Accumulated Other Comprehensive Loss Balance, January 1, 2023 $ (39,673) $ (9,294) $ (48,967) Other comprehensive income before reclassifications 8,751 144 8,895 Amounts reclassified from accumulated other comprehensive loss — 93 93 Net current-period other comprehensive income 8,751 237 8,988 Balance, June 30, 2023 $ (30,922) $ (9,057) $ (39,979)

Business Segment Information (T

Business Segment Information (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule Of Financial Information About Business Segments	The following tables highlight certain financial information about each of the business segments for the three months ended June 30, 2023 and 2022: Private Banks Investment Institutional Investment Investments Total For the Three Months Ended June 30, 2023 Revenues $ 134,099 $ 109,580 $ 75,145 $ 165,339 $ 4,894 $ 489,057 Expenses 116,061 64,178 45,516 107,761 10,571 344,087 Operating profit (loss) $ 18,038 $ 45,402 $ 29,629 $ 57,578 $ (5,677) $ 144,970 Private Investment Institutional Investment Investments Total For the Three Months Ended June 30, 2022 Revenues $ 124,184 $ 113,194 $ 83,483 $ 155,926 $ 4,883 $ 481,670 Expenses 121,060 63,375 43,925 100,807 12,844 342,011 Operating profit (loss) $ 3,124 $ 49,819 $ 39,558 $ 55,119 $ (7,961) $ 139,659 The following tables highlight certain financial information about each of business segment for the six months ended June 30, 2023 and 2022: Private Investment Institutional Investment Investments Total For the Six Months Ended June 30, 2023 Revenues $ 256,702 $ 216,118 $ 149,435 $ 326,025 $ 9,896 $ 958,176 Expenses 230,337 127,724 86,384 213,627 22,215 680,287 Operating profit (loss) $ 26,365 $ 88,394 $ 63,051 $ 112,398 $ (12,319) $ 277,889 Private Investment Institutional Investment Investments Total For the Six Months Ended June 30, 2022 Revenues $ 337,732 $ 232,424 $ 170,322 $ 312,827 $ 9,808 $ 1,063,113 Expenses 243,015 127,895 89,283 199,644 24,794 684,631 Operating profit (loss) $ 94,717 $ 104,529 $ 81,039 $ 113,183 $ (14,986) $ 378,482
Schedule of Reconciliation of Total Operating Profit Reported for Business Segments to Income from Operations in Consolidated Statements of Operations	A reconciliation of the total operating profit reported for the business segments to income from operations in the Consolidated Statements of Operations for the three months ended June 30, 2023 and 2022 is as follows: 2023 2022 Total operating profit from segments $ 144,970 $ 139,659 Corporate overhead expenses (32,369) (23,799) Income from operations $ 112,601 $ 115,860 A reconciliation of the total operating profit reported for the business segments to income from operations in the Consolidated Statements of Operations for the six months ended June 30, 2023 and 2022: 2023 2022 Total operating profit from segments $ 277,889 $ 378,482 Corporate overhead expenses (63,521) (47,823) Income from operations $ 214,368 $ 330,659
Schedule of Additional Information Pertaining to Business Segments	The following tables provide additional information for the three months ended June 30, 2023 and 2022 pertaining to the business segments: Capital Expenditures (1) Depreciation 2023 2022 2023 2022 Private Banks $ 8,001 $ 8,541 $ 5,450 $ 5,554 Investment Advisors 3,615 3,423 549 469 Institutional Investors 457 1,028 303 285 Investment Managers 2,592 4,113 2,210 1,755 Investments in New Businesses 202 208 63 44 Total from business segments $ 14,867 $ 17,313 $ 8,575 $ 8,107 Corporate overhead 362 445 206 179 $ 15,229 $ 17,758 $ 8,781 $ 8,286 (1) Capital expenditures include additions to property and equipment and capitalized software. Amortization 2023 2022 Private Banks $ 4,718 $ 8,261 Investment Advisors 1,945 3,158 Institutional Investors 1,829 2,257 Investment Managers 929 2,577 Investments in New Businesses 144 185 Total from business segments $ 9,565 $ 16,438 Corporate overhead 65 70 $ 9,630 $ 16,508 The following tables provide additional information for the six months ended June 30, 2023 and 2022: Capital Expenditures (2) Depreciation 2023 2022 2023 2022 Private Banks $ 17,072 $ 15,763 $ 10,804 $ 10,660 Investment Advisors 7,954 6,450 1,017 925 Institutional Investors 1,105 1,977 585 574 Investment Managers 7,198 8,137 4,365 3,775 Investments in New Businesses 544 413 131 88 Total from business segments $ 33,873 $ 32,740 $ 16,902 $ 16,022 Corporate Overhead 977 890 410 362 $ 34,850 $ 33,630 $ 17,312 $ 16,384 (2) Capital expenditures include additions to property and equipment and capitalized software. Amortization 2023 2022 Private Banks $ 9,364 $ 16,800 Investment Advisors 3,763 6,391 Institutional Investors 3,653 4,540 Investment Managers 1,856 5,153 Investments in New Businesses 289 370 Total from business segments $ 18,925 $ 33,254 Corporate Overhead 129 141 $ 19,054 $ 33,395

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Schedule of Interest And Penalties	June 30, 2023 December 31, 2022 Gross liability for unrecognized tax benefits, exclusive of interest and penalties $ 16,741 $ 15,204 Interest and penalties on unrecognized benefits 1,630 1,118 Total gross uncertain tax positions $ 18,371 $ 16,322 Amount included in Current liabilities $ 4,168 $ 4,065 Amount included in Other long-term liabilities 14,203 12,257 $ 18,371 $ 16,322
Schedule of Effective Income Tax Rate Reconciliation	The effective income tax rate for the three and six months ended June 30, 2023 and 2022 differs from the federal income tax statutory rate due to the following: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Statutory rate 21.0 % 21.0 % 21.0 % 21.0 % State taxes, net of federal tax benefit 2.8 2.8 2.8 2.8 Foreign tax expense and tax rate differential (0.2) (0.1) (0.2) (0.1) Tax benefit from stock option exercises (0.1) (0.3) (0.2) (0.3) Other, net (0.1) (0.3) 0.1 (0.3) 23.4 % 23.1 % 23.5 % 23.1 %

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying amount of the Company's goodwill by segment are as follows: Institutional Investors Investment Managers Investments in New Businesses Total Balance, December 31, 2022 $ 47,108 $ 56,992 $ 11,499 $ 115,599 Foreign currency translation adjustments — 3 — 3 Balance, June 30, 2023 $ 47,108 $ 56,995 $ 11,499 $ 115,602

Revenues from Contracts with _2

Revenues from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following tables provide additional information pertaining to our 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 June 30, 2023 and 2022: Private Banks Investment Institutional Investment Investments Total Major Product Lines: For the Three Months Ended June 30, 2023 Investment management fees from pooled investment products $ 32,092 $ 61,103 $ 13,154 $ 104 $ 352 $ 106,805 Investment management fees from investment management agreements 824 43,159 56,627 — 4,025 104,635 Investment operations fees 337 — — 152,713 — 153,050 Investment processing fees - PaaS 56,713 2,296 280 75 20 59,384 Investment processing fees - SaaS 28,581 — 2,790 4,296 — 35,667 Professional services fees (1) 14,589 — — 730 — 15,319 Account fees and other 963 3,022 2,294 7,421 497 14,197 Total revenues $ 134,099 $ 109,580 $ 75,145 $ 165,339 $ 4,894 $ 489,057 Primary Geographic Markets: United States $ 91,282 $ 109,580 $ 63,123 $ 150,533 $ 4,894 $ 419,412 United Kingdom 27,984 — 8,684 — — 36,668 Canada 10,148 — 1,447 — — 11,595 Ireland 4,685 — 1,891 8,978 — 15,554 Luxembourg — — — 5,828 — 5,828 Total revenues $ 134,099 $ 109,580 $ 75,145 $ 165,339 $ 4,894 $ 489,057 (1) Professional services fees of the Private Banks segment includes a one-time early contractual buyout fee of $10,457 recorded during the three months ended June 30, 2023 from an investment processing client acquired by an existing client. Private Investment Institutional Investment Investments Total Major Product Lines: For the Three Months Ended June 30, 2022 Investment management fees from pooled investment products $ 31,993 $ 67,490 $ 15,700 $ 123 $ 402 $ 115,708 Investment management fees from investment management agreements 616 40,398 63,212 — 4,073 108,299 Investment operations fees 344 — — 144,742 — 145,086 Investment processing fees - PaaS 56,378 — — — — 56,378 Investment processing fees - SaaS 29,845 — 3,021 3,911 — 36,777 Professional services fees 4,096 — — 635 — 4,731 Account fees and other 912 5,306 1,550 6,515 408 14,691 Total revenues $ 124,184 $ 113,194 $ 83,483 $ 155,926 $ 4,883 $ 481,670 Primary Geographic Markets: United States $ 96,115 $ 113,194 $ 68,702 $ 142,350 $ 4,883 $ 425,244 United Kingdom 13,036 — 11,283 — — 24,319 Canada 11,023 — 1,424 — — 12,447 Ireland 4,010 — 1,963 9,416 — 15,389 Luxembourg — — 4,160 4,160 Other — — 111 — — 111 Total revenues $ 124,184 $ 113,194 $ 83,483 $ 155,926 $ 4,883 $ 481,670 The following tables provide additional information pertaining to our 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 six months ended June 30, 2023 and 2022: Private Investment Institutional Investment Investments Total Major Product Lines: For the Six Months Ended June 30, 2023 Investment management fees from pooled investment products $ 64,313 $ 121,708 $ 24,437 $ 230 $ 690 $ 211,378 Investment management fees from investment management agreements 1,310 83,825 115,562 — 8,242 208,939 Investment operations fees 683 — — 299,907 — 300,590 Investment processing fees - PaaS 114,298 2,296 280 75 20 116,969 Investment processing fees - SaaS 55,398 — 5,441 8,417 — 69,256 Professional services fees (2) 18,675 — — 2,244 — 20,919 Account fees and other 2,025 8,289 3,715 15,152 944 30,125 Total revenues $ 256,702 $ 216,118 $ 149,435 $ 326,025 $ 9,896 $ 958,176 Primary Geographic Markets: United States $ 171,452 $ 216,118 $ 125,341 $ 296,805 $ 9,896 $ 819,612 United Kingdom 55,830 — 17,779 — — 73,609 Canada 20,238 — 2,816 — — 23,054 Ireland 9,182 — 3,499 18,003 — 30,684 Luxembourg — — — 11,217 — 11,217 Total revenues $ 256,702 $ 216,118 $ 149,435 $ 326,025 $ 9,896 $ 958,176 (2) Professional services fees of the Private Banks segment includes a one-time early contractual buyout fee of $10,457 recorded during during the three months ended June 30, 2023 from an investment processing client acquired by an existing client. Private Investment Institutional Investment Investments Total Major Product Lines: For the Six Months Ended June 30, 2022 Investment management fees from pooled investment products $ 65,111 $ 139,483 $ 29,566 $ 207 $ 769 $ 235,136 Investment management fees from investment management agreements 871 82,406 131,672 — 8,199 223,148 Investment operations fees 704 — — 290,121 — 290,825 Investment processing fees - PaaS 112,833 — — — — 112,833 Investment processing fees - SaaS 59,404 — 6,131 7,569 — 73,104 Professional services fees (3) 96,825 — — 1,024 — 97,849 Account fees and other 1,984 10,535 2,953 13,906 840 30,218 Total revenues $ 337,732 $ 232,424 $ 170,322 $ 312,827 $ 9,808 $ 1,063,113 Primary Geographic Markets: United States $ 177,001 $ 232,424 $ 139,265 $ 286,375 $ 9,808 $ 844,873 United Kingdom 129,699 — 24,032 — — 153,731 Canada 22,823 — 2,666 — — 25,489 Ireland 8,209 — 4,130 19,238 — 31,577 Luxembourg — — 7,214 7,214 Other — — 229 — — 229 Total revenues $ 337,732 $ 232,424 $ 170,322 $ 312,827 $ 9,808 $ 1,063,113

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Summary of Significant Accounting Policies [Line Items]
Cash and cash equivalents invested in SEI-sponsored money market funds	$ 777,051		$ 777,051		$ 853,008
Restricted cash	300		300		351
Capitalized software development costs			18,036	$ 13,809
Net book value of capitalized software	$ 242,525		$ 242,525		237,302
Anti-dilutive employee stock options (in shares)	11,006	12,064	11,140	12,141
Anti-dilutive employee stock options (in USD per share)	$ 61.29	$ 60.27	$ 61.29	$ 60.28
Investment Managers
Summary of Significant Accounting Policies [Line Items]
Capitalized software development costs			$ 8,642
Capitalized software development costs in-progress			18,196		9,558
SEI Wealth Platform
Summary of Significant Accounting Policies [Line Items]
Net book value of capitalized software	$ 222,853		222,853
Capitalized software in progress	$ 3,127		3,127		14,217
Amortization expense related to the SEI Wealth Platform			$ 12,516	$ 23,859
SEI Wealth Platform | Weighted Average
Summary of Significant Accounting Policies [Line Items]
Estimated useful life of the SEI Wealth Platform	9 years 4 months 24 days		9 years 4 months 24 days
SEI-Sponsored Open-Ended Money Market Mutual Funds
Summary of Significant Accounting Policies [Line Items]
Cash and cash equivalents invested in SEI-sponsored money market funds	$ 304,611		$ 304,611		305,434
SEI Investments (Europe) Limited
Summary of Significant Accounting Policies [Line Items]
Restricted cash	250		250		250
SEI Investments Distribution Co. (SIDCO)
Summary of Significant Accounting Policies [Line Items]
Restricted cash	50		50		$ 101
SEI-Sponsored Open-Ended Money Market Mutual Funds
Summary of Significant Accounting Policies [Line Items]
Fees waived	$ 5,320	$ 9,039	$ 10,881	$ 20,224

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Accounting Policies [Abstract]
Net income	$ 118,851	$ 111,276	$ 225,866	$ 301,584
Shares used to compute basic earnings per common share (in shares)	132,854	136,435	133,437	137,185
Dilutive effect of stock options (in shares)	1,082	1,382	1,186	1,579
Shares used to compute diluted earnings per common share (in shares)	133,936	137,817	134,623	138,764
Basic earnings per common share (in USD per share)	$ 0.89	$ 0.82	$ 1.69	$ 2.20
Diluted earnings per common share (in USD per share)	$ 0.89	$ 0.81	$ 1.68	$ 2.17

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Net Cash Provided by Operating Activities) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Accounting Policies [Abstract]
Net income	$ 118,851	$ 111,276	$ 225,866	$ 301,584
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	8,781	8,286	17,312	16,384
Amortization	9,630	16,508	19,054	33,395
Equity in earnings of unconsolidated affiliate	(32,711)	(29,813)	(61,590)	(62,272)
Distributions received from unconsolidated affiliate			61,452	69,824
Stock-based compensation	7,405	10,007	15,479	20,573
Provision for losses on receivables			35	350
Deferred income tax expense			(12,600)	(23,506)
Net (gain) loss from investments	$ (515)	$ 2,620	(1,259)	3,109
Change in other long-term liabilities			1,946	1,998
Change in other assets			(71)	(3,111)
Contract costs capitalized, net of amortization			(633)	883
Other			2,443	(1,521)
Change in current assets and liabilities (Increase) decrease in
Receivables from investment products			5,710	4,125
Receivables			(64,551)	(25,523)
Other current assets			(6,907)	(7,014)
Advances due from unconsolidated affiliate			50,493	53,500
(Decrease) increase in
Accounts payable			(6,063)	(7)
Accrued liabilities			(63,682)	(55,734)
Deferred revenue			20	3,578
Total adjustments			(43,412)	29,031
Net cash provided by operating activities			$ 182,454	$ 330,615

Investment In Unconsolidated _3

Investment In Unconsolidated Affiliate (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Schedule of Equity Method Investments [Line Items]
Total investment in LSV	$ 54,318		$ 54,318
Distributions received from LSV			61,452	$ 69,824
Company's share in the earnings of LSV	$ 32,711	$ 29,813	$ 61,590	$ 62,272
L S V Asset Management
Schedule of Equity Method Investments [Line Items]
Ownership interest in LSV	38.60%		38.60%

Investment In Unconsolidated _4

Investment In Unconsolidated Affiliate (Condensed Statements of Operations of LSV) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Schedule of Equity Method Investments [Line Items]
Revenues	$ 489,057	$ 481,670	$ 958,176	$ 1,063,113
Equity Method Investment, Nonconsolidated Investee
Schedule of Equity Method Investments [Line Items]
Revenues	108,836	99,814	207,028	208,264
Net income	$ 84,779	$ 77,193	$ 159,553	$ 160,984

Investment in Unconsolidated _5

Investment in Unconsolidated Affiliate (Condensed Balance Sheets of LSV) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Current assets	$ 1,441,905	$ 1,453,308
Total Assets	2,324,964	2,383,553
Current liabilities	270,373	397,883
Total Liabilities and Shareholders' Equity	2,324,964	2,383,553
Equity Method Investment, Nonconsolidated Investee
Schedule of Equity Method Investments [Line Items]
Current assets	130,951	158,326
Non-current assets	6,972	6,019
Total Assets	137,923	164,345
Current liabilities	50,950	77,306
Non-current liabilities	2,625	3,050
Partners’ capital	84,348	83,989
Total Liabilities and Shareholders' Equity	$ 137,923	$ 164,345

Composition of Certain Financ_3

Composition of Certain Financial Statement Captions (Receivables) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Items Included in Consolidated Statement of Financial Condition [Abstract]
Trade receivables	$ 136,677	$ 110,722
Fees earned, not billed	360,812	320,700
Other receivables	25,047	26,563
Gross receivables	522,536	457,985
Less: Allowance for doubtful accounts	(936)	(901)
Receivables, net	$ 521,600	$ 457,084

Composition of Certain Financ_4

Composition of Certain Financial Statement Captions (Property And Equipment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Property and Equipment [Line Items]
Property and equipment, gross	$ 638,622		$ 638,622		$ 621,890
Less: Accumulated depreciation	(458,119)		(458,119)		(440,861)
Property and Equipment, net	180,503		180,503		181,029
Depreciation expense	8,781	$ 8,286	17,312	$ 16,384
Buildings
Property and Equipment [Line Items]
Property and equipment, gross	216,338		216,338		210,626
Equipment
Property and Equipment [Line Items]
Property and equipment, gross	188,063		188,063		179,318
Land
Property and Equipment [Line Items]
Property and equipment, gross	26,439		26,439		26,439
Purchased software
Property and Equipment [Line Items]
Property and equipment, gross	162,987		162,987		160,714
Furniture and fixtures
Property and Equipment [Line Items]
Property and equipment, gross	22,599		22,599		21,956
Leasehold improvements
Property and Equipment [Line Items]
Property and equipment, gross	21,562		21,562		20,879
Construction in progress
Property and Equipment [Line Items]
Property and equipment, gross	$ 634		$ 634		$ 1,958

Composition of Certain Financ_5

Composition of Certain Financial Statement Captions (Deferred Contract Costs) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Items Included in Consolidated Statement of Financial Condition [Abstract]
Deferred contract costs	$ 38,561,000		$ 38,561,000		$ 37,928,000
Capitalized contract cost, amount capitalized during period	$ 3,225,000	$ 1,543,000	4,969,000	$ 5,062,000
Amortization of deferred contract costs			4,336,000	5,945,000
Accelerated amortization of deferred contract costs				$ 1,784,000
Capitalized contract cost impairment			$ 0

Composition of Certain Financ_6

Composition of Certain Financial Statement Captions (Accrued Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Items Included in Consolidated Statement of Financial Condition [Abstract]
Accrued employee compensation	$ 58,627	$ 100,566
Accrued employee benefits and other personnel	4,353	9,852
Accrued voluntary separation program	33,892	53,821
Accrued consulting, outsourcing and professional fees	38,106	37,009
Accrued sub-advisory, distribution and other asset management fees	50,259	52,916
Accrued dividend payable	291	58,051
Other accrued liabilities	51,636	47,148
Total accrued liabilities	$ 237,164	$ 359,363

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed-income securities owned	$ 31,040	$ 32,148
Assets, fair value	154,603	166,715
Quoted Prices in Active  Markets for Identical Assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed-income securities owned	0	0
Assets, fair value	10,826	10,900
Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed-income securities owned	31,040	32,148
Assets, fair value	137,005	149,449
Equity securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities	10,826	10,900
Equity securities | Quoted Prices in Active  Markets for Identical Assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities	10,826	10,900
Equity securities | Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities	0	0
Available-for-sale debt securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities	105,965	117,301
Available-for-sale debt securities | Quoted Prices in Active  Markets for Identical Assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities	0	0
Available-for-sale debt securities | Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities	105,965	117,301
Investment Funds sponsored by LSV
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment funds sponsored by LSV	$ 6,772	$ 6,366

Marketable Securities (Narrativ

Marketable Securities (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Schedule of Investments [Line Items]
Cash equivalents at fair value	$ 470,591,000		$ 470,591,000		$ 450,240,000
Net unrealized loss	9,057,000		9,057,000		9,294,000
Net unrealized gains (losses) income tax expense (benefit)	(2,705,000)		(2,705,000)		(2,777,000)
Available-for-sale securities, gross realized gains			0	$ 0
Mutual funds and equities, gross realized gains			44,000	7,000
Mutual funds and equities, gross realized loss			49,000	658,000
Other long-term investments	54,318,000		54,318,000		104,673,000
Securities owned	31,040,000		31,040,000		32,148,000
Available-for-sale debt securities
Schedule of Investments [Line Items]
Available-for-sale securities, gross realized losses			122,000	414,000
Investment Funds Sponsored by LSV
Schedule of Investments [Line Items]
Other long-term investments	6,772,000		6,772,000		$ 6,366,000
Unrealized gains (losses) on investments	$ 235,000	$ (1,270,000)	$ 406,000	$ (916,000)

Marketable Securities (Investme

Marketable Securities (Investments Available For Sale) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Available for sale and equity securities, cost	$ 128,086	$ 140,605
Available for sale and equity securities, gross unrealized gains	496	0
Available for sale and equity securities, gross unrealized (losses)	(11,791)	(12,404)
Available for sale and equity securities, fair value	116,791	128,201
Available-for-sale debt securities
Debt Securities, Available-for-sale [Line Items]
Available for sale debt securities, cost	117,727	129,372
Available for sale debt securities, gross unrealized gains	0	0
Available for sale debt securities, gross unrealized (losses)	(11,762)	(12,071)
Available for sale debt securities, fair value	105,965	117,301
SEI-sponsored mutual funds
Debt Securities, Available-for-sale [Line Items]
Equity securities, FV-NI, cost	5,315	6,207
Equity securities, FV-NI, gross unrealized gains	206	0
Equity securities, FV-NI, gross unrealized (losses)	(29)	(176)
Equity securities, FV-NI, fair value	5,492	6,031
Equities and other mutual funds
Debt Securities, Available-for-sale [Line Items]
Equity securities, FV-NI, cost	5,044	5,026
Equity securities, FV-NI, gross unrealized gains	290	0
Equity securities, FV-NI, gross unrealized (losses)	0	(157)
Equity securities, FV-NI, fair value	$ 5,334	$ 4,869

Line of Credit (Details)

Line of Credit (Details) - 2021 Credit Facility	Apr. 23, 2021 USD ($) fiscalQuarter	Jul. 13, 2023 USD ($)
Line of Credit Facility [Line Items]
Debt interest rate accrual term, number of preceding fiscal quarters | fiscalQuarter	4
Subsequent Event
Line of Credit Facility [Line Items]
Letters of credit outstanding amount		$ 4,866,000
Line of Credit
Line of Credit Facility [Line Items]
Credit facility term of agreement	5 years
Credit facility maximum borrowing capacity	$ 325,000,000
Credit facility accordion feature, increase limit	$ 100,000,000
Line of Credit | Subsequent Event
Line of Credit Facility [Line Items]
Credit facility remaining borrowing capacity		$ 320,134,000
Line of Credit | LIBOR
Line of Credit Facility [Line Items]
Credit facility variable interest rate basis spread	1%
Line of Credit | Federal Funds Rate
Line of Credit Facility [Line Items]
Credit facility variable interest rate basis spread	0.50%
Line of Credit | Minimum
Line of Credit Facility [Line Items]
Credit facility commitment fee per annum on daily unused portion	0.15%
Line of Credit | Minimum | Lender's Base Rate Plus Market Spread
Line of Credit Facility [Line Items]
Credit facility variable interest rate basis spread	0.25%
Line of Credit | Minimum | LIBOR
Line of Credit Facility [Line Items]
Credit facility variable interest rate basis spread	1.25%
Line of Credit | Maximum
Line of Credit Facility [Line Items]
Credit facility commitment fee per annum on daily unused portion	0.30%
Line of Credit | Maximum | Lender's Base Rate Plus Market Spread
Line of Credit Facility [Line Items]
Credit facility variable interest rate basis spread	1%
Line of Credit | Maximum | LIBOR
Line of Credit Facility [Line Items]
Credit facility variable interest rate basis spread	2%
Letter of Credit
Line of Credit Facility [Line Items]
Credit facility maximum borrowing capacity	$ 15,000,000
Credit facility, commitment fee percentage	1.25%
Credit facility, fronting fee percentage	0.20%

Shareholders' Equity (Stock-Bas

Shareholders' Equity (Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Stock-based compensation expense	$ 7,405	$ 10,007	$ 15,479	$ 20,573
Less: Deferred tax benefit	(1,347)	(1,839)	(2,839)	(3,934)
Stock-based compensation expense, net of tax	$ 6,058	$ 8,168	$ 12,640	$ 16,639

Shareholders' Equity (Narrative

Shareholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
	Mar. 31, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Apr. 18, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase (decrease) in stock-based compensation from change in management's estimate				$ 2,776
Unrecognized compensation cost		$ 99,899		99,899
Total intrinsic value of options exercised				10,019
Aggregate intrinsic value of options exercisable		$ 67,512		$ 67,512
Market value of Company's common stock (in USD per share)		$ 59.62		$ 59.62
Weighted average exercise price per share (in USD per share)		$ 53.17		$ 53.17
Total options outstanding (in shares)		17,509		17,509
Total options exercisable (in shares)		8,325		8,325
Dividends declared per common share (in USD per share)	$ 0.43	$ 0.43	$ 0.40	$ 0.43	$ 0.40
Cash dividends declared		$ 57,177	$ 54,378	$ 57,177	$ 54,378
Common Stock Buyback
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares purchased and retired (in shares)				2,651
Company purchased, cost				$ 155,869
Additional authorized amount						$ 250,000
Remaining stock repurchase authorization amount						$ 186,983,274
2014 Plan | Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rate				50%
2014 Plan | Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rate				50%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award waiting period				2 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award waiting period				4 years

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ 2,014,334	$ 1,973,083	$ 1,953,824	$ 1,860,763
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Other comprehensive income before reclassifications			8,895
Amounts reclassified from accumulated other comprehensive loss			93
Total other comprehensive income (loss), net of tax	4,599	(17,582)	8,988	(25,920)
Ending balance	2,023,553	1,922,088	2,023,553	1,922,088
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(44,578)	(28,181)	(48,967)	(19,843)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Total other comprehensive income (loss), net of tax	4,599	(17,582)	8,988	(25,920)
Ending balance	(39,979)	$ (45,763)	(39,979)	$ (45,763)
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			(39,673)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Other comprehensive income before reclassifications			8,751
Amounts reclassified from accumulated other comprehensive loss			0
Total other comprehensive income (loss), net of tax			8,751
Ending balance	(30,922)		(30,922)
Unrealized Gains (Losses) on Investments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			(9,294)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Other comprehensive income before reclassifications			144
Amounts reclassified from accumulated other comprehensive loss			93
Total other comprehensive income (loss), net of tax			237
Ending balance	$ (9,057)		$ (9,057)

Business Segment Information (N

Business Segment Information (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Revenues	$ 489,057,000	$ 481,670,000	$ 958,176,000	$ 1,063,113,000
Intersegment
Segment Reporting Information [Line Items]
Revenues	$ 0	$ 0	$ 0	$ 0

Business Segment Information (S

Business Segment Information (Schedule of Financial Information About Business Segments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Revenues	$ 489,057	$ 481,670	$ 958,176	$ 1,063,113
Expenses	344,087	342,011	680,287	684,631
Operating profit (loss)	144,970	139,659	277,889	378,482
Private Banks
Segment Reporting Information [Line Items]
Revenues	134,099	124,184	256,702	337,732
Expenses	116,061	121,060	230,337	243,015
Operating profit (loss)	18,038	3,124	26,365	94,717
Investment Advisors
Segment Reporting Information [Line Items]
Revenues	109,580	113,194	216,118	232,424
Expenses	64,178	63,375	127,724	127,895
Operating profit (loss)	45,402	49,819	88,394	104,529
Institutional Investors
Segment Reporting Information [Line Items]
Revenues	75,145	83,483	149,435	170,322
Expenses	45,516	43,925	86,384	89,283
Operating profit (loss)	29,629	39,558	63,051	81,039
Investment Managers
Segment Reporting Information [Line Items]
Revenues	165,339	155,926	326,025	312,827
Expenses	107,761	100,807	213,627	199,644
Operating profit (loss)	57,578	55,119	112,398	113,183
Investments In New Businesses
Segment Reporting Information [Line Items]
Revenues	4,894	4,883	9,896	9,808
Expenses	10,571	12,844	22,215	24,794
Operating profit (loss)	$ (5,677)	$ (7,961)	$ (12,319)	$ (14,986)

Business Segment Information (R

Business Segment Information (Reconciliation of Total Operating Profit) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Total operating profit from segments	$ 144,970	$ 139,659	$ 277,889	$ 378,482
Corporate overhead expenses	(32,369)	(23,799)
Income from operations	$ 112,601	$ 115,860	214,368	330,659
Operating Segments
Segment Reporting Information [Line Items]
Total operating profit from segments			277,889	378,482
Corporate overhead
Segment Reporting Information [Line Items]
Corporate overhead expenses			$ (63,521)	$ (47,823)

Business Segment Information _2

Business Segment Information (Schedule Of Additional Information Pertaining To Business Segments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Capital expenditure	$ 15,229	$ 17,758	$ 34,850	$ 33,630
Depreciation	8,781	8,286	17,312	16,384
Amortization	9,630	16,508	19,054	33,395
Operating Segments
Segment Reporting Information [Line Items]
Capital expenditure	14,867	17,313	33,873	32,740
Depreciation	8,575	8,107	16,902	16,022
Amortization	9,565	16,438	18,925	33,254
Operating Segments | Private Banks
Segment Reporting Information [Line Items]
Capital expenditure	8,001	8,541	17,072	15,763
Depreciation	5,450	5,554	10,804	10,660
Amortization	4,718	8,261	9,364	16,800
Operating Segments | Investment Advisors
Segment Reporting Information [Line Items]
Capital expenditure	3,615	3,423	7,954	6,450
Depreciation	549	469	1,017	925
Amortization	1,945	3,158	3,763	6,391
Operating Segments | Institutional Investors
Segment Reporting Information [Line Items]
Capital expenditure	457	1,028	1,105	1,977
Depreciation	303	285	585	574
Amortization	1,829	2,257	3,653	4,540
Operating Segments | Investment Managers
Segment Reporting Information [Line Items]
Capital expenditure	2,592	4,113	7,198	8,137
Depreciation	2,210	1,755	4,365	3,775
Amortization	929	2,577	1,856	5,153
Operating Segments | Investments In New Businesses
Segment Reporting Information [Line Items]
Capital expenditure	202	208	544	413
Depreciation	63	44	131	88
Amortization	144	185	289	370
Corporate overhead
Segment Reporting Information [Line Items]
Capital expenditure	362	445	977	890
Depreciation	206	179	410	362
Amortization	$ 65	$ 70	$ 129	$ 141

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Income Tax Contingency [Line Items]
Gross liability for unrecognized tax benefits, exclusive of interest and penalties	$ 16,741	$ 15,204
Unrecognized tax benefits that would affect effective tax rate	16,197	14,431
Interest and penalties on unrecognized benefits	1,630	$ 1,118
Settlement and Lapse of Statute
Income Tax Contingency [Line Items]
Unrecognized tax benefits within the next twelve months	$ 4,168

Income Taxes (Interest And Pena

Income Taxes (Interest And Penalties) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Gross liability for unrecognized tax benefits, exclusive of interest and penalties	$ 16,741	$ 15,204
Interest and penalties on unrecognized benefits	1,630	1,118
Total gross uncertain tax positions	18,371	16,322
Amount included in Current liabilities	4,168	4,065
Amount included in Other long-term liabilities	14,203	12,257
Total gross uncertain tax positions	$ 18,371	$ 16,322

Income Taxes (Effective Income

Income Taxes (Effective Income Tax Rate Reconciliation) (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Statutory rate	21%	21%	21%	21%
State taxes, net of federal tax benefit	2.80%	2.80%	2.80%	2.80%
Foreign tax expense and tax rate differential	(0.20%)	(0.10%)	(0.20%)	(0.10%)
Tax benefit from stock option exercises	(0.10%)	(0.30%)	(0.20%)	(0.30%)
Other, net	(0.10%)	(0.30%)	0.10%	(0.30%)
Effective income tax rate	23.40%	23.10%	23.50%	23.10%

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Schedule of Goodwill) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 115,599
Foreign currency translation adjustments	3
Goodwill, ending balance	115,602
Institutional Investors
Goodwill [Roll Forward]
Goodwill, beginning balance	47,108
Foreign currency translation adjustments	0
Goodwill, ending balance	47,108
Investment Managers
Goodwill [Roll Forward]
Goodwill, beginning balance	56,992
Foreign currency translation adjustments	3
Goodwill, ending balance	56,995
Investments In New Businesses
Goodwill [Roll Forward]
Goodwill, beginning balance	11,499
Foreign currency translation adjustments	0
Goodwill, ending balance	$ 11,499

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets (Additional Information) (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Jul. 31, 2023	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Goodwill [Line Items]
Goodwill		$ 115,602		$ 115,599
Payment of contingent consideration		904	$ 868
Amortization expense		6,113	6,496
Huntington Steele, LLC
Goodwill [Line Items]
Payment of contingent consideration		904	$ 868
Contingent consideration, long-term		$ 8,177
Huntington Steele, LLC | Subsequent Event
Goodwill [Line Items]
Payment for contingent consideration	$ 7,985

Revenues from Contracts with _3

Revenues from Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Revenues	$ 489,057	$ 481,670	$ 958,176	$ 1,063,113
United States
Disaggregation of Revenue [Line Items]
Revenues	419,412	425,244	819,612	844,873
United Kingdom
Disaggregation of Revenue [Line Items]
Revenues	36,668	24,319	73,609	153,731
Canada
Disaggregation of Revenue [Line Items]
Revenues	11,595	12,447	23,054	25,489
Ireland
Disaggregation of Revenue [Line Items]
Revenues	15,554	15,389	30,684	31,577
Luxembourg
Disaggregation of Revenue [Line Items]
Revenues	5,828	4,160	11,217	7,214
Other
Disaggregation of Revenue [Line Items]
Revenues		111		229
Investment management fees from pooled investment products
Disaggregation of Revenue [Line Items]
Revenues	106,805	115,708	211,378	235,136
Investment management fees from investment management agreements
Disaggregation of Revenue [Line Items]
Revenues	104,635	108,299	208,939	223,148
Investment operations fees
Disaggregation of Revenue [Line Items]
Revenues	153,050	145,086	300,590	290,825
Investment processing fees - PaaS
Disaggregation of Revenue [Line Items]
Revenues	59,384	56,378	116,969	112,833
Investment processing fees - SaaS
Disaggregation of Revenue [Line Items]
Revenues	35,667	36,777	69,256	73,104
Professional services fees
Disaggregation of Revenue [Line Items]
Revenues	15,319	4,731	20,919	97,849
Account fees and other
Disaggregation of Revenue [Line Items]
Revenues	14,197	14,691	30,125	30,218
Private Banks
Disaggregation of Revenue [Line Items]
Revenues	134,099	124,184	256,702	337,732
Private Banks | United States
Disaggregation of Revenue [Line Items]
Revenues	91,282	96,115	171,452	177,001
Private Banks | United Kingdom
Disaggregation of Revenue [Line Items]
Revenues	27,984	13,036	55,830	129,699
Private Banks | Canada
Disaggregation of Revenue [Line Items]
Revenues	10,148	11,023	20,238	22,823
Private Banks | Ireland
Disaggregation of Revenue [Line Items]
Revenues	4,685	4,010	9,182	8,209
Private Banks | Luxembourg
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Private Banks | Other
Disaggregation of Revenue [Line Items]
Revenues		0		0
Private Banks | Investment management fees from pooled investment products
Disaggregation of Revenue [Line Items]
Revenues	32,092	31,993	64,313	65,111
Private Banks | Investment management fees from investment management agreements
Disaggregation of Revenue [Line Items]
Revenues	824	616	1,310	871
Private Banks | Investment operations fees
Disaggregation of Revenue [Line Items]
Revenues	337	344	683	704
Private Banks | Investment processing fees - PaaS
Disaggregation of Revenue [Line Items]
Revenues	56,713	56,378	114,298	112,833
Private Banks | Investment processing fees - SaaS
Disaggregation of Revenue [Line Items]
Revenues	28,581	29,845	55,398	59,404
Private Banks | Professional services fees
Disaggregation of Revenue [Line Items]
Revenues	14,589	4,096	18,675	96,825
Private Banks | Account fees and other
Disaggregation of Revenue [Line Items]
Revenues	963	912	2,025	1,984
Private Banks | Professional services fees, one-time early termination fees
Disaggregation of Revenue [Line Items]
Revenues	10,457		10,457	88,000
Investment Advisors
Disaggregation of Revenue [Line Items]
Revenues	109,580	113,194	216,118	232,424
Investment Advisors | United States
Disaggregation of Revenue [Line Items]
Revenues	109,580	113,194	216,118	232,424
Investment Advisors | United Kingdom
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investment Advisors | Canada
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investment Advisors | Ireland
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investment Advisors | Luxembourg
Disaggregation of Revenue [Line Items]
Revenues	0		0
Investment Advisors | Other
Disaggregation of Revenue [Line Items]
Revenues		0		0
Investment Advisors | Investment management fees from pooled investment products
Disaggregation of Revenue [Line Items]
Revenues	61,103	67,490	121,708	139,483
Investment Advisors | Investment management fees from investment management agreements
Disaggregation of Revenue [Line Items]
Revenues	43,159	40,398	83,825	82,406
Investment Advisors | Investment operations fees
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investment Advisors | Investment processing fees - PaaS
Disaggregation of Revenue [Line Items]
Revenues	2,296	0	2,296	0
Investment Advisors | Investment processing fees - SaaS
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investment Advisors | Professional services fees
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investment Advisors | Account fees and other
Disaggregation of Revenue [Line Items]
Revenues	3,022	5,306	8,289	10,535
Institutional Investors
Disaggregation of Revenue [Line Items]
Revenues	75,145	83,483	149,435	170,322
Institutional Investors | United States
Disaggregation of Revenue [Line Items]
Revenues	63,123	68,702	125,341	139,265
Institutional Investors | United Kingdom
Disaggregation of Revenue [Line Items]
Revenues	8,684	11,283	17,779	24,032
Institutional Investors | Canada
Disaggregation of Revenue [Line Items]
Revenues	1,447	1,424	2,816	2,666
Institutional Investors | Ireland
Disaggregation of Revenue [Line Items]
Revenues	1,891	1,963	3,499	4,130
Institutional Investors | Luxembourg
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Institutional Investors | Other
Disaggregation of Revenue [Line Items]
Revenues		111		229
Institutional Investors | Investment management fees from pooled investment products
Disaggregation of Revenue [Line Items]
Revenues	13,154	15,700	24,437	29,566
Institutional Investors | Investment management fees from investment management agreements
Disaggregation of Revenue [Line Items]
Revenues	56,627	63,212	115,562	131,672
Institutional Investors | Investment operations fees
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Institutional Investors | Investment processing fees - PaaS
Disaggregation of Revenue [Line Items]
Revenues	280	0	280	0
Institutional Investors | Investment processing fees - SaaS
Disaggregation of Revenue [Line Items]
Revenues	2,790	3,021	5,441	6,131
Institutional Investors | Professional services fees
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Institutional Investors | Account fees and other
Disaggregation of Revenue [Line Items]
Revenues	2,294	1,550	3,715	2,953
Investment Managers
Disaggregation of Revenue [Line Items]
Revenues	165,339	155,926	326,025	312,827
Investment Managers | United States
Disaggregation of Revenue [Line Items]
Revenues	150,533	142,350	296,805	286,375
Investment Managers | United Kingdom
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investment Managers | Canada
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investment Managers | Ireland
Disaggregation of Revenue [Line Items]
Revenues	8,978	9,416	18,003	19,238
Investment Managers | Luxembourg
Disaggregation of Revenue [Line Items]
Revenues	5,828	4,160	11,217	7,214
Investment Managers | Other
Disaggregation of Revenue [Line Items]
Revenues		0		0
Investment Managers | Investment management fees from pooled investment products
Disaggregation of Revenue [Line Items]
Revenues	104	123	230	207
Investment Managers | Investment management fees from investment management agreements
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investment Managers | Investment operations fees
Disaggregation of Revenue [Line Items]
Revenues	152,713	144,742	299,907	290,121
Investment Managers | Investment processing fees - PaaS
Disaggregation of Revenue [Line Items]
Revenues	75	0	75	0
Investment Managers | Investment processing fees - SaaS
Disaggregation of Revenue [Line Items]
Revenues	4,296	3,911	8,417	7,569
Investment Managers | Professional services fees
Disaggregation of Revenue [Line Items]
Revenues	730	635	2,244	1,024
Investment Managers | Account fees and other
Disaggregation of Revenue [Line Items]
Revenues	7,421	6,515	15,152	13,906
Investments In New Businesses
Disaggregation of Revenue [Line Items]
Revenues	4,894	4,883	9,896	9,808
Investments In New Businesses | United States
Disaggregation of Revenue [Line Items]
Revenues	4,894	4,883	9,896	9,808
Investments In New Businesses | United Kingdom
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investments In New Businesses | Canada
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investments In New Businesses | Ireland
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investments In New Businesses | Luxembourg
Disaggregation of Revenue [Line Items]
Revenues	0		0
Investments In New Businesses | Other
Disaggregation of Revenue [Line Items]
Revenues		0		0
Investments In New Businesses | Investment management fees from pooled investment products
Disaggregation of Revenue [Line Items]
Revenues	352	402	690	769
Investments In New Businesses | Investment management fees from investment management agreements
Disaggregation of Revenue [Line Items]
Revenues	4,025	4,073	8,242	8,199
Investments In New Businesses | Investment operations fees
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investments In New Businesses | Investment processing fees - PaaS
Disaggregation of Revenue [Line Items]
Revenues	20	0	20	0
Investments In New Businesses | Investment processing fees - SaaS
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investments In New Businesses | Professional services fees
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Investments In New Businesses | Account fees and other
Disaggregation of Revenue [Line Items]
Revenues	$ 497	$ 408	$ 944	$ 840

Subsequent Events (Details)

Subsequent Events (Details) - XPS Pensions (Nexus) Limited - Subsequent Event € in Thousands	Jul. 13, 2023 EUR (€)
Subsequent Event [Line Items]
Business combination, consideration transferred	€ 42,500
Payments to acquire business	35,000
Business combination, contingent consideration, liability	€ 7,500
Contingent consideration, earning period	2 years