OAKS, Pa., April 15, 2019 /PRNewswire/ -- SEI (NASDAQ: SEIC)
today announced that the company's 7,400 Independent Advisor
Solutions clients in the U.S. are now live on the SEI Wealth
PlatformSM (the Platform), a fully-integrated,
single-infrastructure technology solution that supports an
end-to-end, seamless experience, including front-, middle- and
back-office services, for wealth management providers and their
clients. Over 340,000 accounts*, totalling over $58.7 billion in assets under management* (AUM),
converted to the Platform over a series of 12 migration
periods.
"Our 50-year heritage is founded upon our commitment to helping
our global clients transform their businesses, while transforming
our own. In recent years, we have turned challenges into tailwinds,
propelling us forward into new potential markets," said
Wayne Withrow, Executive Vice
President of SEI and Head of Independent Advisor Solutions by SEI.
"As the market's digital demands continue to increase, advisors are
seeking to retire legacy systems and upgrade infrastructure to meet
their clients' needs. The SEI Wealth Platform provides a modernized
solution that helps independent advisors adapt in our rapidly
evolving industry, remain competitive in the face of mounting
challenges – from fee compression to consolidation – and deliver an
enhanced, holistic wealth management experience for advisors to
help clients reach their financial goals."
Built from the ground up to support portfolio management and
construction – not products, the Platform features integrated and
simple, intuitive tools to support a truly robust, goals-based,
financial planning approach. SEI's business enterprise platform and
its dynamic dashboards are built around a customized advisor
experience, highlighted by the following:
- One of the only unified managed account structures that
provides an aggregated household view of the client and enables
advisors to manage multiple models within a single account
- Straight-through processing that alleviates manual trade and
settlement date reconciliation
- Web-based, real-time tax impact to support model
management
- Real-time, model management and "what if" analysis
- Customizable views of a firm's AUM, fee revenue and IRA
services
- Flexible reporting and streamlined communication for enhanced
oversight of and insight into clients' investments
"At a time when custodians and fintech businesses are looking to
integrate more technology into every advisory practice, it can be
challenging to sort through all the options. The SEI Wealth
Platform's breadth of capabilities within a single enterprise
platform truly makes it unique," said Jereme Ransick, Chief Operating Officer of
Principled Wealth Advisors of Covington,
Kentucky. "We are excited to continue our 15-year
relationship with SEI and have a strategic partner to support
streamlining our operations, overcoming market challenges, and
better serving our clients."
Anticipating a major shift in the global wealth management
industry, SEI launched the SEI Wealth Platform in the U.K. more
than a decade ago. With the addition of SEI's U.S.-based advisor
clients and SEI Private Wealth Management's ultra-high-net-worth
clients, the Platform continues to gain significant market
momentum. Of the 48 signed global private banking clients, 38 firms
are installed and another 10 U.S. banking clients are in various
stages of implementation.
*As of Dec. 31, 2018.
About Independent Advisor Solutions by SEI
Independent Advisor Solutions by SEI provides independent financial
advisors with wealth management services through outsourced
investment strategies, administration and technology services, and
practice management programs. It is through these services that SEI
helps advisors save time, grow revenues, and differentiate
themselves in the market. With a history of financial strength,
stability, and transparency, Independent Advisor Solutions has been
serving the independent financial advisor market for more than 25
years, has 7,400 advisors who work with SEI, and $61.3 billion in advisors' assets under
management (as of Dec. 31, 2018). The
SEI Advisor Network is a strategic business unit of SEI. For
more information, visit seic.com/advisors.
About the SEI Wealth PlatformSM
The SEI
Wealth Platform (the Platform) is an outsourcing solution for
wealth managers encompassing wealth processing services and wealth
management programs, combined with business process expertise. With
the Platform, SEI provides wealth management organizations with the
infrastructure, operations, and administrative support necessary to
capitalize on their strategic objectives in a constantly shifting
market. The SEI Wealth Platform supports trading and transactions
on 158 stock exchanges in 56 countries and 43 currencies, through
the use of straight-through processing and a single operating
infrastructure environment. For more information, visit:
seic.com/wealthplatform.
About SEI
After 50 years in business, SEI (NASDAQ:
SEIC) remains a leading global provider of investment processing,
investment management, and investment operations solutions that
help corporations, financial institutions, financial advisors, and
ultra-high-net-worth families create and manage wealth. As of
Dec. 31, 2018, through its
subsidiaries and partnerships in which the company has a
significant interest, SEI manages, advises or administers
$884 billion in hedge, private
equity, mutual fund and pooled or separately managed assets,
including $307 billion in assets
under management and $573 billion in
client assets under administration. For more information, visit
seic.com.
Company
Contact:
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Media
Contact:
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Leslie
Wojcik
|
Meredith
Mitchell
|
SEI
|
Prosek
Partners
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+1
610-676-4191
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+1
646-818-9268
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lwojcik@seic.com
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mmitchell@prosek.com
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SOURCE SEI