SEI Challenges Custody Giants With Transparent 0.10% Fee

SEI is seeking to differentiate itself in the financial-adviser custody market with a pricing model built around explicit fees. Large incumbent custodians often subsidize services through revenue streams such as payment for order flow, or PFOF, and markups on funds, arrangements that can obscure the full economics for advisers and their clients. SEI says its approach removes those potential conflicts while pairing custody with newer technology and broader service access.

The firm has introduced a one-page fee schedule charging 0.10% of assets held in custody, equivalent to $1,000 for every $1 million, without relying on PFOF or fund markups. SEI is pitching the structure to investment advisers frustrated by aging platforms and service constraints at traditional providers. The available report did not specify a launch date, but frames the fee rollout as SEI’s latest bid to win adviser relationships from much larger custody rivals.