SEI Drives Global Momentum in Wealth Management Market

OAKS, Pa., March 17, 2021 – SEI (NASDAQ:SEIC) today announced significant global momentum in its Private Banking business with seven new SEI Wealth Platform^SM (SWP) client agreements, another seven client implementations and 26 long-term recontract agreements with existing SWP and TRUST 3000^® clients in the last 12 months. SWP and TRUST3000 are part of SEI’s Global Wealth Management Services business, comprised of market-leading, innovative solutions designed to support the future growth of investment and wealth managers globally.

“The last year caused a great deal of disruption in the financial services industry and the world at large. Many organizations faced, and continue to face, challenges, such as delays in client implementations and other key milestones affected by the pandemic. Our clients rely on us, and we are proud to stand by them—not just as a technology partner, but as one community who came together to navigate a period of unprecedented change,” said Steve Meyer, Head of SEI’s Global Wealth Management Services. “Our preparedness enabled us to transition our operations into a remote environment essentially overnight.  We could not have continued to successfully operate this way for an entire year without our resilient, adaptable and dedicated workforce, and the ongoing trust of our clients.” 

Over the last 12 months, SEI implemented seven Private Banking clients on time and on budget—six of which were done in a fully remote environment. SEI worked with clients to enhance remote training and implementation capabilities, which enabled successful virtual conversions and limited disruption to clients’ businesses. Of the additional seven new clients who signed SWP agreements in the last 12 months, two of those deals were completed from start to finish without a single in-person meeting, fully remote. Reaffirming their ongoing commitment to SEI as a long-term strategic partner who can provide consistent support and collaboration during times of volatility and uncertainty, another 26 existing clients committed to recontract agreements in the past year.

“Our clients’ decisions to begin or extend their relationships with SEI are evidence of our longstanding commitment to not only delivering superior solutions and exceptional client service, but also fulfilling our promise to being a trusted partner in any market environment,” said Meyer. “The pandemic has accelerated the demand for digital transformation across the industry, and many are increasingly looking to partners to help them fully digitize the wealth management experience, scale their businesses and enable future growth. Our priority remains: enable confident change for wealth management organizations in 2021 and beyond.”

To further help clients navigate the disruption and change brought on by the pandemic, SEI leveraged virtual communities to bring together leaders in wealth management organizations to discuss the unknowns presented by COVID-19 and share ideas around the future path for wealth management executives. Topics included leadership and communication in a remote environment, return-to-office strategies, online learning and more. Through forums, such as roundtables and online discussions, these leaders have the opportunity to address challenges they face in their businesses and seek the advice and honest feedback of industry peers.

About the SEI Wealth Platform^SM

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 137 stock exchanges in 42 countries and 43 currencies, through the use of straight-through processing and a single operating infrastructure environment. For more information, visit: seic.com/wealthplatform.

About SEI

After 50 years in business, SEI (NASDAQ:SEIC) remains a leading global provider of investment processing, investment management, and investment operations solutions designed to help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of Dec. 31, 2020, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages, advises or administers approximately $1 trillion in hedge, private equity, mutual fund and pooled or separately managed assets, including approximately $369 billion in assets under management and $787 billion in client assets under administration. For more information, visit seic.com.