BMO Wealth Management Adopts SEI Wealth Platform

March 21, 2018

Unified Platform Continues Market Momentum in 2018, Providing Scalable Solution to Support Firm’s Focus on Growth

OAKS, Pa., March 21, 2018 – SEI (NASDAQ:SEIC) today announced that BMO Wealth Management (U.S.) will adopt the SEI Wealth PlatformSM (the Platform) to enhance its technology footprint and provide a seamless experience for their advisors and end-clients. The Platform is a fully-integrated, single-infrastructure wealth management solution developed to support client relationship management, including front-, middle-, and back-office services.  

“BMO Wealth Management’s strategic focus on wealth advisory services aligns with growing industry trends to upgrade enterprise technology, and we are proud to be a part of their journey,” said Al Chiaradonna, Senior Vice President of Private Banking at SEI. “There is an increased market need for modernization through extended capabilities that provide integrated digital tools and automation, and this is evidenced by the consistently growing number of clients going live on the SEI Wealth Platform each year.” 

“The SEI Wealth Platform provides a comprehensive and unified solution that will enable our teams to engage in deeper collaborations to help our clients better achieve their financial goals.” - Sandra Henderson, Chief Operating Officer, BMO Wealth Management U.S.

An SEI client since 2005, BMO Wealth Management will migrate their existing book of business, currently on SEI’s legacy platform, TRUST 3000®, to the SEI Wealth Platform in 2019. The Platform’s flexible architecture enables smooth integration of its automated workflows and state-of-the-art technology, cultivating holistic digital experiences for wealth managers and their clients.

“Technology investments play a critical role in our growth initiatives and commitment to making our clients’ wealth management experience more intuitive,” said Sandra Henderson, Chief Operating Officer, BMO Wealth Management U.S. “The SEI Wealth Platform provides a comprehensive and unified solution that will enable our teams to engage in deeper collaborations to help our clients better achieve their financial goals.”

The SEI Wealth Platform has gained significant market momentum since its 2013 U.S. launch. Twenty-one clients have signed on to adopt the Platform, which includes 12 private banking firms that have already installed and another nine clients, including BMO Wealth Management, in various stages of implementation. Seven firms are scheduled to go live on the Platform this year, and SEI is currently filling implementation queue slots for 2019 and beyond, as this year is sold out. 

About BMO Wealth Management

BMO Wealth Management serves mass affluent, high net worth and ultra-high net worth individuals and families with a full suite of wealth management solutions including wealth planning, banking and borrowing, investment management, retirement planning, trust and estate services, philanthropy, insurance and risk management, tax planning and ultra-high net worth services.  With over 140 offices across 16 states and international offices in Canada, Hong Kong, and Singapore, BMO Wealth Management provides guidance and planning advice combined with individualized service and local experience. As of January 31, 2018, BMO Wealth Management had assets under management of US$49 billion and assets under administration of US$80 billion. BMO Wealth Management is supported by the resources and stability of one of North America’s premier financial services organizations—BMO Financial Group. Visit bmowealthmanagement.com.

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 156 stock exchanges in 55 countries and 43 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 December 31, 2017, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages, advises or administers $861 billion in hedge, private equity, mutual fund and pooled or separately managed assets, including $337 billion in assets under management and $518 billion in client assets under administration.