OAKS, PA--(Marketwire - Jan 31, 2013) - SEI (NASDAQ: SEIC) today announced that the SEI Advisor Network achieved record growth in 2012, generating $7.1 billion in cash receipts and signing 488 new Registered Investment Advisors. The new advisors and the cash flow they have produced represent more than 40 percent growth over last year. This marks the third consecutive year of significant growth for the company as it deepens its leadership position in the advisor market.
"We've invested heavily in our business in terms of the investment strategies, technology, and support services we provide to advisors, and the three straight years of strong growth for SEI is a testament to how our solution is helping advisors drive growth as well," said Wayne Withrow, Executive Vice President and SEI Advisor Network Business Unit Leader. "We know the advisor market is more competitive than ever before and with the recent launch of new ETF strategies, an expanded separately managed account (SMA) offering, and the planned launch of our new wealth platform, we are confident that our solutions will continue to help advisors gain the edge they need to compete, differentiate, and grow. We expect 2013 to be another banner year for SEI and our clients."
In 2012, SEI expanded each of its three core business functions: investment solutions, practice management support, and back office administrative services. To help advisors meet the demands of an evolving investor base, SEI successfully launched four tactical objective-based funds, which garnered more than $2 billion in new assets. The company also expanded its SMA business with new mandates, including dividend focus, managed volatility, preferred stocks, and alternatives, from specialist investment managers. In addition, the SEI Advisor Network deepened its focus on tax management with a new set of support services and expanded offerings. SEI added nine new relationship managers to provide deeper levels of service to its advisor clients and also added a dedicated support team to work more closely with broker dealers. In another significant development, the company launched its new wealth platform with a beta group of core advisors in 2012 as a preview to a full platform launch in 2013.
To learn more about the SEI Advisor Network, please visit www.seic.com/advisors.
About The SEI Advisor Network
The SEI Advisor Network provides financial advisors with turnkey wealth management services through outsourced investment strategies, administration and technology platforms, and practice management programs. It is through these services that SEI helps advisors save time, grow revenues, and differentiate themselves in the market. With a history of financial strength, stability, and transparency, the SEI Advisor Network has been serving the independent financial advisor market for more than 16 years, has over 4,900 advisors who work with SEI, and $33.7 billion in advisors' assets under management (as of Dec. 31, 2012). The SEI Advisor Network is a strategic business unit of SEI. For more information, visit www.seic.com/advisors.
SEI (NASDAQ: SEIC) is a leading global provider of investment processing, fund processing, and investment management business outsourcing solutions that help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of December 31, 2012, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $458 billion in mutual fund and pooled or separately managed assets, including $201 billion in assets under management and $257 billion in client assets under administration. For more information, visit www.seic.com.
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