SEI Acquires Majority of Stratos Wealth in $527 Million Deal

SEI® (NASDAQ: SEIC), a financial services technology and investment solutions company, has agrees to acquire a majority stake of independent wealth management firm Stratos Wealth Holdings. SEI will make a strategic investment in the Stratos business, a family of companies focused on supporting financial advisers across business models and affiliation structures.

Under the agreement, SEI will pay approximately $527 million in cash for a 57.5 percent stake in a newly formed entity that will hold Stratos’ operating businesses. The remaining 42.5 percent will be retained by certain legacy Stratos equity holders, with provisions that may allow SEI to acquire full ownership in the future. As part of the transaction, Emigrant Partners will exit their investment in Stratos at closing.

Founder and CEO Jeff Concepcion will continue to lead the Stratos business, which will operate under its recognized brand and as an affiliated business of SEI. Stratos’ existing business and client service model, including custodial relationships, will continue, and its current offerings will be reinforced by SEI’s capabilities across technology, custody, operations, and asset management.

“As we strive to impact advisers’ success, we were seeking a partner that would not only provide investment capital, but also the expertise to help power growth. Working with SEI is a key aspect of our ongoing strategic vision, which provides advisers with the flexibility they need to achieve their goals,” Concepcion said. “We’re excited about this partnership because it strengthens our offerings. SEI’s robust set of solutions and services will enhance our ability to operate at scale, while delivering advisers a highly personalized level of service.”

Ryan Hicke, CEO of SEI, added, “We’re making a strategic investment that reinforces our unwavering belief in financial advisers and their delivery of advice, and Stratos brings an intimate understanding of what adds value to an adviser’s business. Their approach to coaching, building sustainable value, and focusing on client acquisition and service can help advisers scale their businesses, drive more organic growth, and address the industry’s most prevalent challenges.”

Subject to applicable regulatory approval and other customary closing conditions, the transaction is expected to close in two stages: The U.S.-based Stratos business, representing approximately 80% of the transaction value, is expected to close in the second half of 2025, and the Mexico-based NSC business is expected to close in the first half of 2026.

Goldman Sachs & Co. LLC served as financial adviser to Stratos, and Alston & Bird LLP served as legal counsel to Stratos. Wells Fargo served as financial adviser to SEI, and Holland & Knight served as legal counsel to SEI.

The partnership between SEI and Stratos follows closely on SEI’s recent RIA launch with financial advisory Summit Wealth.

SEI is a leading global provider of financial technology, operations, and asset management services within the financial services industry. As of March 31, 2025, SEI manages, advises, or administers approximately $1.6 trillion in assets.

Stratos is a family of companies, including affiliated registered investment advisers. Financial advisers associated through the Stratos network of registered investment advisers advise and service more than $37 billion in client assets.

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