OAKS, PA — SEI® (NASDAQ: SEIC) completed the first phase of its strategic investment in Stratos Wealth Holdings, acquiring the U.S.-based portion of the business for approximately $441 million. The transaction gives SEI an 81 percent economic stake in the newly formed SEI-Eclipse Holding Company, with plans to complete the second phase — the purchase of Stratos’ Mexico-based NSC business — in 2026, pending regulatory approval.
Stratos, a national network of more than 350 financial advisors across 29 states, will continue to operate under its existing brand and leadership. Founder and CEO Jeff Concepcion will remain in place as the company becomes an affiliated business within SEI’s broader ecosystem. Stratos’ custodial relationships and service model will remain intact while being reinforced by SEI’s technology, custody, operations and asset-management capabilities.
SEI CEO Ryan Hicke said the acquisition strengthens the company’s position across three major growth areas in wealth management: advice, asset management and administration. He emphasized that SEI’s administration and investment platforms are built to support advisors, and the addition of Stratos provides a scalable advice platform aligned with the accelerating shift toward fee-based planning.
Hicke said combining the two firms’ strengths enables SEI to deliver more integrated solutions to intermediaries and to help advisory firms grow more efficiently.
Concepcion said the partnership supports Stratos’ continued focus on advisor independence, personalized service and the flexibility needed for advisory practices to expand. He highlighted SEI’s capabilities in areas such as alternative investments and outsourced CIO services as key enhancers of Stratos’ offering.
Under the terms of the deal, SEI will ultimately pay about $544 million in cash for 57.5 percent of SEI-Eclipse Holding Company. Legacy Stratos equity holders retain 42.5 percent, subject to put and call rights that could eventually give SEI full ownership.
Goldman Sachs & Co. LLC advised Stratos in the transaction, with Alston & Bird LLP serving as legal counsel. Wells Fargo served as financial advisor to SEI, and Holland & Knight acted as its legal counsel.
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