Fusion Wealth Expands Relationship with SEI

13 November 2018

Contract will run until at least 2025

LONDON, 13 Nov., 2018 – Fusion Wealth, the bespoke platform solutions provider for wealth managers and large-scale financial planners, has extended its existing long-term relationship with SEI (NASDAQ:SEIC) through a new deal that will see the pair work together until at least 2025.

Fusion Wealth first appointed the SEI Wealth PlatformSM in 2011 to provide an integrated wealth-management infrastructure for its growing client base. Since then, the business has expanded considerably and now provides a core solution for some of the leading wealth management and financial planning firms in the UK.

Both SEI and Fusion Wealth are focused on leveraging the benefits of their award-winning collaboration. The extended and expanded contract will facilitate the delivery of new solutions to market, including next-generation retirement savings; improved adviser and customer services through the use of advanced and innovative digital services; and an enhanced customer reporting suite.

The decision to extend its relationship with SEI follows news that Fusion Wealth, owned by Benchmark Capital and powered by SEI, will provide the technology for the financial planning joint venture announced last month by Lloyds Banking Group and Schroders.

Ian Cooke, Chief Executive, Benchmark Capital, parent company of Fusion Wealth, said:

"Our relationship with SEI has already been a long and hugely successful one, allowing us to deliver a completely seamless end-to-end proposition to our clients. By extending our existing contract in this way, we are confirming our commitment to the partnership whilst also being able to add considerable strength and depth to our offering at what is a hugely exciting time for Fusion and Benchmark Capital. SEI and Fusion share a commitment to innovation, and we look forward to working together to provide the best possible solutions for both our existing clients and the new joint venture between Lloyds Banking Group and Schroders.”

Brett Williams, Managing Director, SEI Wealth Platform, UK Private Banking, added: 

“Fusion’s decision to extend and expand its commitment to us is testament to the success of the relationship to date. This announcement shows great confidence from Ian and the team that SEI is the right partner to power their ambitious growth plans. We enjoy working with Fusion and share a common dedication to improving the end-customer experience through our approach, which combines people, process and technology.”

About Fusion Wealth

Launched in 2011, Fusion Wealth has grown rapidly to become an industry leader in the provision of platform and discretionary services. A wholly owned subsidiary of Benchmark Capital Limited, Fusion Wealth utilises leading-edge technology and its own discretionary permissions to deliver integrated, flexible platform and investment solutions to high quality Wealth Management and Financial Planning firms. In 2016 Schroders purchased a strategic stake in Benchmark Capital, providing further financial strength and institutional scale to drive strong growth across the group.

About the SEI Wealth Platform

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 138 stock exchanges in 52 countries and 40 currencies, through the use of straight-through processing and a single operating infrastructure environment.

About SEI

Now in its 50th year of business, SEI (NASDAQ:SEIC) is 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 Sept. 30, 2018, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages, advises or administers $920 billion in hedge, private equity, mutual fund and pooled or separately managed assets, including $339 billion in assets under management and $576 billion in client assets under administration.