Thank you, everyone. afternoon Al. Good
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quarterly for the million Our million quarter as compared profit segment of XXXX. second $X.X the increased to $X of
our This increase continued management. by driven was mainly expense
to sales million million approximately the million $X.X events Our to a is signed activities, second first in and $X profit recurring our during compared quarter up turning second sales sales And quarter, quarter. negative $X.X profit we processing in gross the events. in net as
one-time in million $X.X had events. we Additionally,
of as Banking Personal Wealth, recently earnings Wealth, power through the Wealth in reported of the conversion XXXX clients. we the currently migrate XXXX. following, and and the Group The of first business to plus our included book Personal an forged of signed existing SEI our reported XXXX platform between are Schroders in XXXX Wealth existing November will joint the ventures Lloyd's existing was SWP half book Platform in move had and QX extended Trust of Trust on in existing which competitors relationship press Fusion call. their new UK business until to Schroders events SWP for SEI scheduled XXXX These to to the new with
platform This to months. new next to over a of portion XX the event ventures scheduled the assets start highlights our to migrate
We've to due expect we before we delays we the to there be to mentioned additional have to events complicated expect growth be you We in long contract the to go market. – and through here. processes encountered this
which was a over, representing second of quarter no happy $XX.X report that to annualized was but signed different. I'm our the to after quarter million This new we net call revenue. deals in today, two prior total
is their of business the longtime existing first to middle was firm, law XXXX. Dorsey scheduled migrate The to the deal platform book with client of Whitney, & a who in
Commerce or solutions. The second Private wealth Bank were planning investment legacy institution. we North strategies is management, Wealth business Imperial financial private CIBC American Management, CIBC It's announce, a wealth U.S. pleased leading U.S. management offers and Canadian deal, of to
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be These our not are included with for quarter, events in sales will but QX our events. reported events this sales included
are We gaining in we're clients new business addition the these of and within the the segment. new momentum activity pleased with
go with well value a had during Trust they a our prove to the client very we ultimately XXXX to a SEI Trust ability an turning business, SEI increasingly notice their stay client the migrated previously XXXX conversions changed SWP quarter. and Platform. our our as XXXX, mind and competition. scale Legacy were to strategy Wealth XXXX. were Trust, update to re-converted. Both converted BBVA well to BBVA They in successfully proposition and And competitor, demonstrated provided decided to going since clients two Compass the but aggressive and second since went quarter that they implementation on as to against our increasingly
years re-contracted three greater. We clients three of terms contract or also with Trust
platform Also have these UK net who XXXX we be moving to of notice on acquirer’s reported current Trust for leaving Trust to Trust quarter. on move been this The we quarter, acquired in events and client, will by XXXX. from the losses are U.S. one businesses receive our will their who early XXXX. in one respective clients, we in the received two notice be impact SWP sales client the and in the During platform did from a planned SWP, to the
million, backlog, As include $XX an but signings backlog in SWP installed recent update approximately new after two million wealth the recurring on revenue you the or total if not is $XX.X most quarter. platform for the signed net our
$XX.X million. remain of management the management global at investors distribution see total increases and quarter-to-quarter ended marketplace year-over-year, $XXX cash under representing we did asset business in which flows the period cautious, mere Our negative while billion assets
strong We our continue to pipeline in global AMD business. build a
to the year, us As rest areas couple for focus we note. there of to of are look the important
momentum, are market and First encouraged our the our we seeing the we quarter on sales in are momentum and this pipeline. very
and I are in processes are for the like still As the we market. SWP. longer well clients as this, believe the have we our having foundation onto is sales focus than our while with Sustainable taking success growth would implementation we of
seeing We and maintained strong are activity.
forge risk we through platforms year, several in but our to the off of business the will we that as primarily lost broken Second as coming are our we that be judiciously discussed managing sounding initiatives. expenses us, record, will the previously the manage our growth headwinds like continue of we have facing impact headwinds, a remainder still had to continue
headwinds These both will term. an growth have bottom top the our line and to in near impact
backlog We XXXX continue a continuation you to to push our our accelerating as I are and lastly, for strategic themes, forward foundation And mentioned to these sustainable themes Two, before, clients, strategic building installed one, growth. be of to globally. further growing investments our provide and four solutions markets Three, monetizing in of and business to sold yet SWP. growth. our implementing our our expanding
that over of We may look prepared for reflect and this now we have. and turn the concludes this you remarks my That questions results to it themes I'll believe progress. quarter all continue these any of
