Retirement Planners of America, a significant client of SEI Investments Co.'s investment advisers business, intends to terminate its relationship with the company and to move the majority of the assets managed by Retirement Planners of America, effective May 15, 2022.

Retirement Planners of America uses SEI's adviser-managed trust, and the funds in the trust are held by Retirement Planners of America clients only and not by any other company clients.

Certain assets currently managed by Retirement Planners of America will transfer to another investment adviser and continue to be invested using SEI's platform and investment products.

SEI currently estimates, assuming Retirement Planners of America liquidates on the expected date, that the impact to its investment advisers business will be approximately $9 million to $11 million in lost revenue in fiscal year 2022.