SEI is buying a majority stake in Stratos Wealth Holdings, a multifaceted financial services firm that includes a large ...

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SEI Investments has agreed to take a majority stake in Stratos Wealth Holdings, a family of companies that supports a network of independent financial advisers, for about $527 million in cash.

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The transaction will see SEI effectively own 57.5% of Stratos' operating businesses as previous backer Emigrant Partners exits its position.