This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

SEI Investments' CEO Discusses Q1 2012 Results - Earnings Call Transcript

While we are increasingly encouraged with our long-term growth opportunities with the rollout of GWP, we’re also working hard to improve the profitability of our Bank segment.

Our GWP efforts remain concentrated on capturing U.K. GWP markets, as well as launching GWP in the U.S. The next two GWP releases along with the most recent release will complete the baseline functionality for the U.S., significantly enhance the U.K. functionality and then help to improve our operational efficiencies and scale.

Now continue to be encouraged by the feedback I receive from our clients and prospects, and it’s confirmed by our fourth and first quarter sales events across all our markets.

Our investments in infrastructure and new service offerings are helping us differentiate ourselves from our competitors and we certainly expect to capitalize on this even in these challenging markets. Now, our new service offering coupled with our financial strength positions us well for the long-term.

Now this concludes my remarks, so I’ll now ask Dennis McGonigle to give you an update on LSV and the Investment in New Business segment and after that, I’ll turn it over to the other business segments. Dennis?

Dennis McGonigle

Thanks, Al. Good afternoon, everyone. I will cover the first quarter results for the Investments in New Business segment, make a few brief comments on LSV Asset Management.

During the first quarter of 2012, the Investments in New Business segment continued its focus on direct marketing and research activities directed to the ultra-high net worth investor and the further development of services.

During the quarter, the Investments in New Business segment incurred a loss of $2.8 million, which compares to a $2.2 million loss during the fourth quarter of 2011. This increase in loss is due to the costs associated with the acquisition and operating run rate of NorthStar, which approximated $750,000. As you’ll recall, we acquired the assets of NorthStar during the first quarter, we expect losses in this segment to continue in this range during 2012.

Regarding LSV, we continue to own approximately 41% of LSV in the first quarter. LSV contributed approximately $27.3 million in income to SEI during the quarter. This compares a $23.4 million in the fourth quarter 2011.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs