SEI Welcomes 7,400 Advisor Clients to the SEI Wealth Platform

15 April 2019

Landmark Milestone Underscores Strength and Success of SEI’s Global Wealth Management Solution

OAKS, Pa., April 15, 2019 – 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. 

"The SEI Wealth Platform’s breadth of capabilities within a single enterprise platform truly makes it unique."

“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 modernised 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 customised 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
  • Customisable 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. 

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.

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.