OAKS, Pa., Dec. 15, 2020 /PRNewswire/ -- SEI (NASDAQ:SEIC)
announced today that Pacific Premier Trust, a division of Pacific
Premier Bank, will convert their wealth business to the SEI Wealth
PlatformSM (SWP). Pacific Premier Trust will also
benefit from SEI's comprehensive integration strategy, including an
extensive API offering and an ecosystem of web services geared
toward wealth and asset management markets. 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, advanced
digital experience for wealth management organizations and their
clients.
"We are proud to welcome Pacific Premier Trust to the SEI family
and look forward to supporting their current needs and future
strategic growth initiatives through a simplified and truly modern
technology and processing environment," said Al Chiaradonna, Senior Vice President of North
America Private Banking at SEI. "Even during the pandemic's
disruption, the market's confidence in the SEI Wealth Platform
continues to grow. For decades, SEI has been a long-standing market
leader and innovator when it comes to providing core wealth
platforms and data integration solutions. By leveraging our
advanced API strategy, Pacific Premier Trust will be able to
further differentiate and grow their business more efficiently amid
an increasingly competitive landscape."
Another key driver in Pacific Premier Trust's decision was SEI's
vast expertise in outsourcing as a leading 30-year provider of
investment processing back-office services. Although Pacific
Premier Trust currently runs their business on a competitor's
technology platform, they have always run their operations in
house. This will be Pacific Premier Trust's first time outsourcing
any part of their back office. The conversion of Pacific Premier
Trust's wealth business to SWP is targeted to occur in the first
half of 2021.
"The SEI Wealth Platform and SEI's API integration offering will
significantly support our future growth aspirations, enabling us to
better serve and expand our current client base, while
differentiating our services to attract new clients," said
Rich Immesberger, President of
Pacific Premier Trust. "In addition to streamlining and simplifying
our business and technology infrastructure, we will enhance the
wealth management experience for our clients and advisors by more
efficiently delivering fully integrated services to them."
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. Pacific Premier Trust joins more than 50 other SEI
clients across the industry utilizing SWP as a core technology and
infrastructure to grow and modernize their wealth management
businesses.
This news was first announced on SEI's third-quarter 2020
earnings call.
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 137 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 Sept. 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 $330
billion in assets under management and $755 billion in client assets under
administration. For more information, visit seic.com.
About Pacific Premier Trust
Pacific Premier Trust
(formerly PENSCO Trust Company), a division of Pacific Premier
Bank, has been helping investors use their retirement account funds
to invest in real estate, private equity, and other non-exchange
traded assets since 1989. As the trusted custodian of approximately
$15.0 billion in assets and
approximately 45,000 client accounts, Pacific Premier Trust
works with financial institutions, capital raisers and financial
advisors, as well as self-directed investors who typically have a
point of view about alternative investments based on their own
knowledge or expertise and want to put tax-advantaged retirement
dollars to work in these opportunities. For additional information
about Pacific Premier Trust, visit their website:
www.PacificPremierTrust.com.
About Pacific Premier Bancorp, Inc.
Pacific Premier
Bancorp, Inc. (Nasdaq: PPBI) is the parent company of Pacific
Premier Bank, a California-based
commercial bank focused on serving small, middle-market, and
corporate businesses throughout the western United States in major metropolitan markets in
California, Washington, Oregon, Arizona, and Nevada. Founded in 1983, Pacific Premier Bank
has grown to become one of the largest banks in the western region
of the United States, with
approximately $20 billion in total
assets. Pacific Premier provides banking products and services,
including deposit accounts, digital banking, and treasury
management services, to businesses, professionals, entrepreneurs,
real estate investors, and nonprofit organizations. Pacific Premier
Bank also offers a wide array of loan products, such as commercial
business loans, lines of credit, SBA loans, commercial real estate
loans, agribusiness loans, franchise lending, home equity lines of
credit, and construction loans. Pacific Premier Bank offers
commercial escrow services and facilitates 1031 Exchange
transactions through its Commerce Escrow division. Pacific Premier
Bank offers clients IRA custodial services through its Pacific
Premier Trust division, which has approximately $15 billion of assets under custody and
approximately 45,000 client accounts comprised of self-directed
investors, financial institutions, capital syndicators, and
financial advisors. Additionally, Pacific Premier Bank provides
nationwide customized banking solutions to HOA and Property
Management companies. Pacific Premier Bank is an Equal Housing
Lender and Member FDIC. For additional information about Pacific
Premier Bancorp, Inc. and Pacific Premier Bank, visit our
website: www.ppbi.com.
Company
Contact:
|
Media
Contact:
|
Leslie
Wojcik
|
Eric
Hazard
|
SEI
|
Vested
|
+1
610-676-4191
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+1
917-765-8720
|
lwojcik@seic.com
|
eric@fullyvested.com
|
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SOURCE SEI Investments Company