SEI Investments Co.’s SEIC second-quarter 2020 earnings of 68 cents per share lagged the Zacks Consensus Estimate of 69 cents. Moreover, the figure reflects a decline of 17.1% from the prior-year quarter.Results were primarily hurt by a rise in expenses and lower revenues. Moreover, a decline in assets under management (AUM) was a headwind.Net income was $101.1 million, down 20.1% from the year-ago quarter.Revenues & AUM Decline, Expenses RiseTotal revenues were $400.6 million, down 2.2% year over year. The fall reflected a decline in both components of revenues. Moreover, the reported figure lagged the Zacks Consensus Estimate of $403.2 million.Total expenses were $300.3 million, up 3.8% year over year. The rise was due to an increase in stock-based compensation costs, consulting, outsourcing and professional fees, data processing and computer-related costs, amortization expenses, and depreciation costs.Operating income declined 16.5% year over year to $100.3 million.As of Jun 30, 2020, AUM was $317.8 billion, reflecting a decline of 5.2% from the prior-year quarter. Client assets under administration (AUA) were $692.5 billion, up 9.8% year over year. Note that client AUA does not include $11.3 billion related to Funds of Funds assets that were reported on Jun 30, 2020.Share RepurchasesIn the reported quarter, SEI Investments bought back 1.6 million shares for $89.5 million.Our TakeThe company’s diversified product offerings are expected to continue to aid financials. Also, rising demand for the SEI Wealth Platform (“SWP”) across several financial institutions will likely support profitability.SEI Investments Company Price, Consensus and EPS Surprise SEI Investments Company price-consensus-eps-surprise-chart | SEI Investments Company QuoteCurrently, SEI Investments sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Performance & Earnings Release Dates of Other CompaniesBlackRock, Inc.’s BLK second-quarter 2020 adjusted earnings of $7.85 per share hugely surpassed the Zacks Consensus Estimate of $6.90. The figure reflects a rise of 22.5% from the year-ago quarter’s number.Affiliated Managers Group, Inc. AMG and Waddell & Reed Financial, Inc. WDR are scheduled to announce quarterly results on Jul 27 and Jul 28, respectively.The Hottest Tech Mega-Trend of AllLast year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Waddell Reed Financial, Inc. (WDR): Free Stock Analysis Report BlackRock, Inc. (BLK): Free Stock Analysis Report Affiliated Managers Group, Inc. (AMG): Free Stock Analysis Report SEI Investments Company (SEIC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research