SEI’s 7,400 Independent Advisor Solutions clients in the US are now live on the SEI Wealth Platform (the Platform), a fully-integrated, single-infrastructure technology solution that supports front-, middle- and back-office services, for wealth management providers and their clients.
Over 340,000 accounts, totalling over USD58.7 billion in assets under management (AUM), converted to the Platform over a series of 12 migration periods.
“Our 50-year heritage is founded upon our commitment to helping our global clients transform their businesses, while transforming our own. In recent years, we have turned challenges into tailwinds, propelling us forward into new potential markets,” says Wayne Withrow, Executive Vice President of SEI and Head of Independent Advisor Solutions by SEI. “As the market’s digital demands continue to increase, advisors are seeking to retire legacy systems and upgrade infrastructure to meet their clients’ needs. The SEI Wealth Platform provides a modernised solution that helps independent advisors adapt in our rapidly evolving industry, remain competitive in the face of mounting challenges – from fee compression to consolidation – and deliver an enhanced, holistic wealth management experience for advisors to help clients reach their financial goals.”
Built from the ground up to support portfolio management and construction – not products, the Platform features integrated and simple, intuitive tools to support a truly robust, goals-based, financial planning approach. SEI’s business enterprise platform and its dynamic dashboards are built around a customised advisor experience.
”At a time when custodians and fintech businesses are looking to integrate more technology into every advisory practice, it can be challenging to sort through all the options. The SEI Wealth Platform’s breadth of capabilities within a single enterprise platform truly makes it unique,” says Jereme Ransick, Chief Operating Officer of Principled Wealth Advisors of Covington, Kentucky. “We are excited to continue our 15-year relationship with SEI and have a strategic partner to support streamlining our operations, overcoming market challenges, and better serving our clients.”
Anticipating a major shift in the global wealth management industry, SEI launched the SEI Wealth Platform in the UK more than a decade ago. With the addition of SEI’s US-based advisor clients and SEI Private Wealth Management’s ultra-high-net-worth clients, the Platform continues to gain significant market momentum. Of the 48 signed global private banking clients, 38 firms are installed and another 10 US banking clients are in various stages of implementation.
