June 16, 2011 09:00 ET

SEI Quick Poll: 1 in 4 Top Financial Advisors Use Electronic Tablets for Client and Prospect Meetings

Not All Technology Needs Solved; Advisors Complain About Integration, Complexity, Managing Multiple Vendors

OAKS, PA--(Marketwire - Jun 16, 2011) - Top advisors remain frustrated by the use of technology in their business, identifying "lack of integration" (50 percent), "complexity" (28 percent) and "managing multiple vendors" as their key challenges, according to an SEI (NASDAQ: SEIC) Quick Poll released today. These barriers notwithstanding, one in four respondents indicated they currently use electronic tablets for client and prospect meetings. Additionally, nearly half (46 percent) of advisors are thinking about using electronic tablets for work. Only three percent of advisors who want to use an electronic tablet are unable to because of compliance restrictions or technology limitations. The survey was completed by 150 top financial advisors at SEI's National Strategic Advisor Conference in May.

"By all accounts, the electronic tablet is a transformative tool for financial advisors, changing the way they run their business and how they work with clients," said Steve Onofrio, Managing Director, SEI Advisor Network. "From our perspective, electronic tablets have the ability to decrease business costs, increase the quality and consistency of materials, and deliver access to information from anywhere. They're becoming true game-changers in an advisor's practice, radically improving both the client experience and operational efficiencies."

In addition to technology, advisors weighed in on a variety of issues. Advisors said that during the past three years, the greatest difference in working with clients is their increased interest in learning more about risk. Furthermore, the issue weighing most on clients' minds is the federal deficit (53 percent), far outpacing concerns of inflation (15 percent), interest rates (13 percent), gas prices (13 percent), the housing market (4 percent), and unemployment (3 percent). Overall, advisors are bullish about the economy, as 40 percent expect the Dow Jones Industrial Average to finish the year above 13,000.

The group also outlined best practices. When asked what they would do with an additional $100,000 to invest in their business, more than one-third said they would spend it on their marketing budget. In terms of advice to new advisors, more than half (52 percent) said, "Decide who you want to be and who your ideal clients are."

"Clients have changed during the past few years -- they are more aware of the markets and more careful with their decisions," said James Pollock, Pollock Investment Advisors, Ann Arbor, MI. "As advisors, we need to adjust and realize that the days of reeling in a big fish without much effort are over. Today, advisors need to think about ways to cultivate deep, meaningful relationships. That's proven to be the most effective way to attract and retain clients."

SEI conducted the survey in May 2011 at its National Strategic Advisor Conference for 150 advisors that work with SEI. Nearly one-quarter of survey participants (21 percent) have more than $250 million in assets under management and nearly two-thirds (66 percent) manage between $50 million and $250 million. Additionally, nearly two-thirds (65 percent) have been advisors for more than 15 years and more than half (61 percent) manage a range of 50 to 200 clients.

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 more than 5,800 advisors who work with SEI, and $31.5 billion in advisors' assets under management (as of March 31, 2011). The SEI Advisor Network is a strategic business unit of SEI. For more information, visit

About SEI
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 March 31, 2011, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $429 billion in mutual fund and pooled assets or separately managed assets, including $179 billion in assets under management and $250 billion in client assets under administration. For more information, visit

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