08:34 AM EDT, 07/18/2025 (MT Newswires) -- SEI (SEIC) said Friday it formed a partnership with Stratos Wealth and will make an investment in the company by acquiring a 57.5% stake in a newly-formed entity for about $527 million.

The company said the newly-formed entity will acquire operating entities that make up Statos' current business and that certain Stratos equity holders will continue to own 42.5% of the business. SEI also said it could result in owning 100% of the entity if it fully exercises put/call rights.

Based in Ohio, Stratos operates a network of over 360 advisors across 26 states and will continue under its current leadership and brand, the companies said.

The deal is expected to close in two phases through 2025 and 2026, the companies said, adding Emigrant Partners will exit its investment in Stratos as part of the transaction.