OAKS, Pa., Oct. 5, 2020 /PRNewswire/ -- SEI (NASDAQ: SEIC)
announced today that Dorsey & Whitney Trust Company LLC and
Hills Bank and Trust Company converted to the SEI Wealth
PlatformSM (SWP) after virtually transitioning from
SEI's legacy wealth management platform, TRUST 3000®, on
their originally scheduled implementation dates. SWP is a
fully-integrated, single-infrastructure technology solution that
enables organizational transformation, provides front-, middle-,
and back-office services, and supports an end-to-end, digital
experience for wealth management organizations and their clients.
SWP is part of SEI's Global Wealth Management Services business,
comprised of market-leading, innovative solutions designed to
support the future growth of investment and wealth managers
globally. This news was first announced on SEI's second-quarter
2020 earnings call.
"Previously, remote implementations were not something for which
you needed to plan," said Al
Chiaradonna, Senior Vice President of North America Private
Banking at SEI. "But at its core, the success of these conversions
was due to the strength of our strategic partnership with Dorsey
& Whitney Trust Company and Hills Bank and Trust Company, as
well as our collective readiness, adaptability and willingness to
take on procedural and technological challenges in order to meet
all milestones necessary to go live on schedule. During these
extraordinary times, we have remained focused on keeping
implementations on track, helping to ease the incremental expenses,
firmwide distraction and risk of disruption that can come with
delaying conversion dates."
"Having worked with SEI for 18 years, we felt comfortable that
we could accomplish comprehensive training, well-prepared dress
rehearsals and a live conversion in a completely virtual setting,
even though we had never done this before," said Carl Schmidtman, President of Dorsey &
Whitney. "We're excited to enhance our offering to our clients,
providing a modern, web-based solution that will transform their
overall experience, as well as enable us to serve our clients more
efficiently and grow our business."
Dorsey & Whitney Trust Company and Hills Bank and Trust
Company will benefit from SWP's ability to provide their clients
with increased efficiency and scale, user-friendly mobile access to
key client information, enhanced communication and automation
improvements.
The SEI Wealth Platform continues to gain significant market
momentum. Of the 53 signed global clients, 45 private banking firms
are installed, with another 8 clients in various stages of
implementation.
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 133 stock exchanges in 42
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 designed to help corporations, financial institutions,
financial advisors, and ultra-high-net-worth families create and
manage wealth. As of June 30, 2020,
through its subsidiaries and partnerships in which the company has
a significant interest, SEI manages, advises or administers
approximately $1 trillion in hedge,
private equity, mutual fund and pooled or separately managed
assets, including approximately $318
billion in assets under management and $693 billion in client assets under
administration. For more information, visit seic.com.
About Dorsey & Whitney Trust Company
We are a
full service trust company chartered in the State of South Dakota, wholly owned by Dorsey
& Whitney LLP, an international law firm with a 100-year
history of providing trusted counsel and representation to
individuals, businesses and charities. Our Trust Company is a
direct outgrowth of the role Dorsey's Trusts & Estates
attorneys have played for decades as trusted advisors to their
clients. The law firm established the Trust Company to provide
Dorsey clients and others with trust and estate administration and
wealth management services of the highest quality.
About Hills Bank and Trust Company
Hills Bank spans
19 locations with more than 500 co-workers across three eastern
Iowa counties. We have achieved
this growth by earning our customers' respect and connecting with
them, one at a time. With a large asset base and a local focus, we
can offer the services of a regional bank with the responsiveness
of a community bank, and advanced digital banking with a personal
touch.
Company
Contact:
|
Media
Contact:
|
Leslie
Wojcik
|
Jacqueline
Gogel
|
SEI
|
Vested
|
+1
610-676-4191
|
+1
917-765-8720
|
lwojcik@seic.com
|
jacqueline@fullyvested.com
|
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SOURCE SEI Investments Company