SEI completed the acquisition of a 46.57% stake in Stratos Wealth for $441m.

SEI, a provider of financial technology, operations, and asset management solutions, completed the acquisition of a 46.57% stake in Stratos Wealth, a wealth management group, for $441m. "There are three core growth opportunities in wealth management: advice, asset management, and administration. We've built world-class administration and asset management platforms that enable the more effective delivery and execution of advice, and Stratos further enhances our ecosystem with an advice platform that respects advisor independence and capitalizes on trends in fee-based wealth management. We believe in the value of advice, and by combining our strengths in all three areas and fostering mutual learning across them, we can enhance the solutions and services we provide across all intermediaries, help them scale their businesses, and drive powerful, sustainable growth," Ryan Hicke, SEI CEO.