OAKS, Pa., Aug. 16, 2018 – SEI (NASDAQ:SEIC) today announced that Legacy Trust, a private trust company, will adopt the SEI Wealth PlatformSM (the Platform) to enhance its technology infrastructure, increase business efficiency, and provide a unique, streamlined user experience for employees and clients. The Platform is a fully-integrated, single-infrastructure wealth management technology solution developed to support client relationship management, including front-, middle, and back-office services. This news was first announced during SEI’s second-quarter 2018 earnings call. 

“We’re proud of our 14-year relationship with Legacy Trust, and we look forward to helping them achieve long-term growth as they adopt the SEI Wealth Platform,” said Al Chiaradonna, Senior Vice President of Private Banking at SEI. “As the consumer demand for a holistic, digital experience continues to increase, wealth management organizations are recognizing the need to improve their technology infrastructures in order to provide their clients a comprehensive, web-based solution. We are honored Legacy Trust selected the Platform to help them improve efficiency and transparency within their organization and enable their future success.”

“Our clients come first, and the SEI Wealth Platform will further enhance our ability to take them through a streamlined wealth advice process.”

Legacy Trust will migrate their existing book of business from SEI’s legacy platform, TRUST 3000®, to the SEI Wealth Platform in June 2019. The firm will continue to outsource its back-office operations on the Platform, which eliminates multiple applications and integration points common in legacy systems today, employs straight-through processing, and enables a mobility strategy for wealth management organizations.

“Our clients come first, and the SEI Wealth Platform will further enhance our ability to take them through a streamlined wealth advice process,” said Tracey Hornbeck, President and CEO at Legacy Trust. “We are excited to continue our long-standing strategic partnership with SEI as we continue our growth journey in building scale and capacity.”

The SEI Wealth Platform continues to gain significant market momentum since its 2013 U.S. launch. Of the 24 clients currently signed on to adopt the Platform, 16 private banking firms are installed, and another eight clients are in various stages of implementation.

About Legacy Trust

Legacy Trust is an independent, locally owned, Michigan-chartered bank that specializes in providing investment and wealth management services to individuals, families, foundations and non-profits in West Michigan. Legacy Trust delivers highly customized financial and investment solutions tailored to meet the unique situation of each client. For more information, visit www.legacygr.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 158 stock exchanges in 56 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 June 30, 2018, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages, advises or administers $882 billion in hedge, private equity, mutual fund and pooled or separately managed assets, including $331 billion in assets under management and $545 billion in client assets under administration.