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SEI introduces enhanced portfolio and account monitoring services

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SEI has introduced enhanced portfolio and account monitoring services to provide institutions with flexible management reporting capability, thereby increasing the efficiency and effectiveness of the account review process.

 

SEI’s portfolio and account monitoring services are a component of its overall global wealth services solution.

Reviews are processed automatically, extensively reducing staff time, and account compliance data is continually refreshed on a daily basis.

Because the solution is automated, there is no subjective application of compliance rules.

All data is securely stored online, providing easy management and access to support internal and external audits.

Account data needed to process reviews and conduct associated research resides in a single online location.

Compliance business rules are supported via an automated rules engine, which provides flexibility to customize rules and simplify their creation and maintenance.

"SEI’s enhanced portfolio and account monitoring services significantly simplify the management of accounts from an investment review and administrative perspective, while also helping to control costs associated with risk management," says Richard Kardys, group executive vice president of Frost.

In particular, the solution assists wealth managers with their ever-growing compliance burden. Many have struggled to adopt best practices in the face of increased scrutiny from both federal regulators and wary investors.

"Everyone we speak with is dealing with the same issues – an exponentially larger compliance task list coupled with all of the pre-existing business demands," says Al Chiaradonna, senior vice president, SEI’s private banks segment. "Wealth managers are overwhelmed with the compliance strain being placed on them. We recognise the importance of risk management as it relates to mandatory compliance standards and have created a service that should ease the growing pain for these organisations."

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