SEI is acquiring a 57.5% majority stake in Stratos Wealth Holdings, a diversified financial services platform anchored by a large RIA network.
The $527 million transaction paves the way for full ownership, with structured put and call options enabling SEI to potentially purchase the remaining equity. Emigrant Partners, which previously held a stake in Stratos, will fully exit as part of this transaction.
The deal values Stratos’ U.S. business—representing 80% of the transaction—and is expected to close in the second half of 2025. The remainder, which includes operations in Mexico, is projected to finalize in early 2026.
Stratos Wealth Holdings is a major player in the independent advisor space, with affiliated advisors collectively overseeing more than $37 billion in assets. Its flagship RIA, Stratos Wealth Partners, operates as both an LPL-affiliated RIA and an office of supervisory jurisdiction. It reports $17.2 billion in total assets serviced, and $14.5 billion in regulatory AUM as of its latest ADV filing.
Post-transaction, Stratos will retain its brand and leadership. Founder and CEO Jeff Concepcion will continue to lead the firm as it becomes an affiliate of SEI. Stratos’ advisor support model and custodial relationships—including its relationship with LPL Financial—will remain intact. The firm confirmed it will continue to use LPL as both its broker-dealer and RIA custodian. LPL did not immediately comment on the acquisition.
For RIAs and wealth managers, the deal signals continued consolidation among advisor platforms—particularly those focused on scale, advisor autonomy, and growth capital. Concepcion said the SEI partnership will expand Stratos’ access to capital and technology, allowing it to deliver enhanced resources to its advisors.
“Working with SEI aligns with our strategic vision to empower independent advisors with the tools and flexibility they need to grow their practices,” Concepcion said. “SEI brings a deep bench of solutions that will allow us to scale efficiently while continuing to deliver a personalized service experience.”
SEI, known for its advisor technology and investment outsourcing platforms, is positioning the acquisition as a move to deepen its footprint in the independent wealth management ecosystem. CEO Ryan Hicke emphasized that Stratos brings a complementary culture focused on advisor success, coaching, and organic growth.
“Stratos has built a sophisticated understanding of what truly adds value to advisors,” said Hicke. “Their expertise in succession planning, business coaching, and client acquisition is highly aligned with SEI’s long-term mission to support the next generation of advisor-led firms.”
Hicke also noted that the partnership will help both organizations address some of the industry’s most persistent challenges—namely succession planning, scalability, and talent development. By combining Stratos’ field-level insight with SEI’s enterprise capabilities, the firms aim to offer RIAs a broader suite of growth-oriented solutions.
For independent advisors considering next steps in their strategic journey—whether succession, scale, or capital access—this transaction reinforces the growing trend of institutional firms like SEI partnering with advisor-led platforms to expand reach and deepen capabilities.
