SEI Extends Long-term Relationship with Verso

LONDON, 24 May, 2023 – SEI^® (NASDAQ:SEIC) today announced that it has extended its strategic partnership until December 2027 with Verso Wealth Management (Verso), an independent financial advisor (IFA) consolidator focused on building a market-leading national wealth management group. Verso will continue to benefit from the modern, integrated wealth management infrastructure of the SEI Wealth Platform^SM, helping Verso achieve its goals of business scale and growth.

Verso’s decision to extend the strategic partnership was driven by SEI’s strength in supporting wealth management and IFA consolidator firms to achieve their acquisition objectives without disrupting clients’ operations as assets are migrated, including on-time and on-budget implementations with a streamlined process.

Andy Fay, CEO of Verso, said:

“As a business leader in wealth management, I have been working with SEI for well over a decade and continue to view them as a key strategic partner in powering our success. We have ambitious plans for building a market-leading national wealth management group in the UK, and SEI recognises the importance of scale in systems and process, as well as the need to minimise disruption as we grow.

“Our goal is to make financial advice and investment services available to everyone, and by utilising the SEI Wealth Platform’s wealth management infrastructure, we will be able to drive our growth as an IFA consolidator and provide a positive service to our clients. We look forward to continuing to work with them in the years to come.”

Jim London, Head of SEI’s UK Private Banking Business and COO of SEI Investments (Europe) Ltd., added:

“We are delighted that Verso have taken the decision to further their relationship with SEI. Andy Fay and Simon Redgrove are long-term supporters who have recognised the strategic business value of the SEI Wealth Platform over the last decade. The UK advisory market is undergoing huge change and consolidation and there has never been a greater need for independent financial advice.

“SEI is in a great position to power the future of wealth by working with companies like Verso to make advice more accessible to more people. We believe our track record in migrating assets efficiently, coupled with the SEI Wealth Platform’s scalability, make our proposition attractive to ambitious IFA consolidators. We are excited to continue building upon our relationship with Verso and play a part in powering their growth.”

About the SEI Wealth Platform^SM

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 131 stock exchanges in 45 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^®

SEI (NASDAQ:SEIC) delivers technology and investment solutions that connect the financial services industry. With capabilities across investment processing, operations, and asset management, SEI works with corporations, financial institutions and professionals, and ultra-high-net-worth families to solve problems, manage change and help protect assets—for growth today and in the future. As of March 31, 2023, SEI manages, advises, or administers approximately $1.3 trillion in assets. For more information, visit seic.com.