OAKS, Pa., June 14, 2017 – SEI (NASDAQ:SEIC) announced today that Washington Trust Wealth Management, a division of The Washington Trust Company, the nation’s oldest community bank, will adopt the SEI Wealth PlatformSM (the Platform) to provide a comprehensive client experience through the fully-integrated, single-infrastructure wealth management solution. This news was first announced during SEI’s first-quarter 2017 earnings call.
“Washington Trust has been providing wealth management services for more than a century, and their success can be attributed to their unwavering commitment to their clients throughout this period. The company’s conversion to the Platform demonstrates the bank’s proactive evolution to continually meet the needs of its clients in an increasingly competitive digital environment,” said Al Chiaradonna, Senior Vice President, SEI Wealth Platform, North America Private Banking. “The Platform will provide a comprehensive solution as Washington Trust Wealth Management continues to seamlessly take its client experience to the next level.”
Washington Trust Wealth Management is one of the Northeast’s premier wealth management firms, offering a full range of services through its offices located in Rhode Island, Connecticut, and Massachusetts. By converting to the SEI Wealth Platform, Washington Trust Wealth Management will capitalize on the solution’s unified platform to support its front-, middle-, and back-office services. The Platform will help enable Washington Trust to provide a significantly improved end-client experience, while increasing productivity and efficiency throughout their organization.
“The SEI Wealth Platform will give Washington Trust Wealth Management a state-of-the art digital system to provide our clients with the outstanding service standards they expect,” said Mark Gim, Senior Executive Vice President, Wealth Management and Chief Strategy Officer. “Through its fully-integrated workflows, automation, and straight-through processing, we believe SEI's unified platform will also improve our employee experience and efficiency.”
Gaining market momentum since its U.S. launch in 2013, the SEI Wealth Platform now supports 11 private banking firms and their clients, and has another six clients, including Washington Trust Wealth Management, in various stages of implementation.
About Washington Trust Wealth Management®
Washington Trust Wealth Management is a division of The Washington Trust Company, the oldest community bank in the nation and one of the premier financial service companies in the northeast. With $6.2 billion in assets under administration, Washington Trust Wealth Management serves clients throughout the country through its offices in Rhode Island, Massachusetts and Connecticut. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ: WASH). Additional information on Washington Trust Wealth Management can be found at https://www.washtrustwealth.com/.
About the SEI Wealth Platform
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 138 stock exchanges in 52 countries and 40 currencies, through the use of straight-through processing and a single operating infrastructure environment.
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 March 31, 2017, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages, advises or administers $779 billion in hedge, private equity, mutual fund and pooled or separately managed assets, including $297 billion in assets under management and $478 billion in client assets under administration.