SEI Private Wealth Management has launched expanded technological features on its client dashboard, organising clients’ personal financial information and helping them make better wealth management decisions.
“The definition of wealth management has changed. The traditional approach lacks an in-depth understanding of financial outcomes, as well as coordination between advisors, and this can leave clients dissatisfied,” says Michael Farrell (pictured), Managing Director of SEI Private Wealth Management. “Technology can provide a greater level of transparency, and transparency is critical in executing a goals-based investment strategy for our clients. Our platform gives clients the comprehensive access and insight into their wealth, so they can play an active role in making assertive decisions to meet their goals.”
Helping wealthy clients stay organised and informed is key to keeping them financially on track. SEI Private Wealth Management developed a Cash-Flow Suite within its dashboard to provide clients insight into their income and expenses. This feature, which can be customised based on a client’s specific situation, provides high-level and categorised information for any time period. With SEI’s Cash-Flow Suite, clients can also view a summary of trends, as well as all associated transactions. Real-time data is presented simplistically, enabling clients to assign cash flows to multiple goals, including lifestyle and philanthropy, and compare progress against their forecasted financial targets.
It’s difficult to manage vast amounts of money in multiple accounts from various platforms. As part of a recent strategic partnership with Quovo, a leading provider of account aggregation and data analytics for finance, SEI Private Wealth Management implemented enhancements to its client dashboard’s functionality through data aggregation capabilities. Gone are the days of checking investments and cash balances from several user interfaces. Clients can now access real-time information for all of their accounts – and manage their wealth in alignment with their goals – all from a single platform.
Increased assets can lead to a mountain of paperwork, and maintaining an up-to-date library of documents can prove to be challenging. SEI Private Wealth Management’s client dashboard now features the DocVault, which uses automated workflows and templates to keep documents current and organised. Clients can view all pertinent documents and determine what they’re missing, as well as invite their third-party experts to upload applicable paperwork on their behalf. These experts can also be assigned to recurring tasks in order to maximise document collection. The DocVault provides clients the ease of accessing and requesting documents through a central location.
“We work very closely with each client through our discovery process to determine and plan for unique financial objectives. The cash-flow tool enables clients to interact with their wealth and understand how inflows relative to expenses may be impacting their overall investment strategy,” says Jeff Ladouceur, Director of Client Advice and Solutions for SEI Private Wealth Management. “Our technology enhancements help to present our clients’ financial information in a simple, organised, and interactive way that enables them to be confident decision-makers in managing their wealth.”