SEI Investments Company (SEIC) CEO Al West on Q4 2020 Results - Earnings Call Transcript

Jan. 28, 2021 12:46 AM ETSEI Investments Company (SEIC)
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SEI Investments Company (NASDAQ:SEIC) Q4 2020 Earnings Conference Call January 27, 2021 4:30 PM ET

Company Participants

Al West - Chairman and CEO

Dennis McGonigle - CFO

Kathy Heilig - Controller

Paul Klauder - EVP, Head of the Institutional Group

Steve Meyer - EVP, Head of Global Wealth Management Services

Wayne Withrow - EVP, Independent Advisor Solutions by SEI

Conference Call Participants

Ryan Kenny - Morgan Stanley

Chris Donat - Piper Sandler

Robert Lee - KBW

Chris Shutler - William Blair

Owen Lau - Oppenheimer

Ryan Bailey - Goldman Sachs

Operator

Ladies and gentlemen, thank you for your patience in holding, and welcome to the SEI Fourth Quarter of 2020 Earnings Call. [Operator Instructions] Just a brief reminder today’s conference is being recorded.

I'm now happy to turn the conference over to Chairman and CEO, Al West.

Al West

Thank you very much, and welcome, everyone. All of our segment leaders are here with me on the call, as well as Dennis McGonigle, SEI's CFO; and Kathy Heilig, SEI's Controller.

I'll start by recapping fourth quarter and full year 2020. I'll then turn it over to Dennis to cover LSV and the investment in new business segment. After that, each business segment leader will comment on the results of their segments. And finally, Kathy Heilig will provide you with some important company-wide statistics. As usual, we'll field questions at the end of each report.

So now let's turn our attention to the financial reports of the fourth quarter 2020. Fourth quarter earnings - excuse me, revenue grew 5% from a year ago. Fourth quarter earnings decreased by 2% from a year ago, and fourth quarter EPS of $0.86 grew by 2% from the $0.84 reported in 2019.

Fourth quarter asset balances grew by $27 billion, while LSV's balances grew by $11.6 billion. During the

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