OAKS, Pa., Feb. 26, 2019 – SEI (NASDAQ:SEIC) today announced that Securian Trust Company (Securian Trust), part of Fortune 500 company Securian Financial, will adopt the SEI Wealth PlatformSM (the Platform) to provide a seamless experience for their clients and the advisors that serve them. The Platform is a fully-integrated, single-infrastructure technology solution developed to support client relationship management, including front-, middle- and back-office services. This news was first announced during SEI’s fourth-quarter 2018 earnings call.
“We are grateful for the decade-long relationship with Securian Trust, and we are excited to be a part of their journey in delivering a holistic wealth management experience,” said Al Chiaradonna, Senior Vice President of Private Banking at SEI. “The evolving wealth management landscape is increasingly placing pressure on organizations to retire their mainframe systems. The SEI Wealth Platform delivers the automation and integrated digital tools that will help enable Securian Trust to provide a personalized, aggregated view of their customers’ investments, while scaling and streamlining their business for the future.”
A client since 2009, Securian Trust will migrate approximately 1,300 accounts, including $550 million in assets under management and $2.8 billion in assets under administration, from TRUST 3000®, SEI’s legacy platform, to the Platform in 2019. The Platform will enhance Securian Trust’s overall technology infrastructure and help increase efficiency by integrating applications, improving workflows and delivering real-time account information.
“Our clients are our top priority, and the SEI Wealth Platform’s state-of-the-art technology will help transform their experience,” said Matthew J. Bauler, President of Securian Trust.
The SEI Wealth Platform continues to gain significant market momentum. Of the 48 signed global clients, 38 private banking firms are installed, and another ten clients are in various stages of implementation.
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. For more information, visit: seic.com/wealthplatform.
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.
At Securian Financial, we’re here for family. And we’re here because of it. We’re guided by our purpose: helping customers build secure tomorrows. Since 1880, we’ve been building a uniquely diversified company that has outlasted economic ups and downs while staying true to our customers. We’re committed to the markets we serve, providing insurance, investment and retirement solutions that give families the confidence to focus on what’s truly valuable: banking memories with those who matter most.