OAKS, PA--(Marketwire - Oct 9, 2012) - SEI (NASDAQ: SEIC) announced today it was named the most notable vendor in the Breadth of Functionality category by Celent in the research firm's report: Ranking Wealth Management Platform Vendors. Celent cited SEI's ability to offer full functional support across the entire front-to-back office as key to its selection. SEI was also recognized as a top vendor in the report's Advanced Technology category.
"We're pleased to receive such high recognition for the Global Wealth Platform. End-to-end integration is an essential component of successful wealth management and will become even more vital as the industry landscape evolves," said Al Chiaradonna, Senior Vice President of SEI's Global Wealth Services. "We're committed to providing straight-through business processing services to clients, allowing them to improve operating efficiency and enhance their client experience capabilities."
The Breadth of Functionality category was judged on four main criteria: number of modules supported; depth of support within each component; self-directed functionality; and entitlement configuration. Celent pointed to the Global Wealth Platform's (GWP) emphasis on client-centric and activity-based user workflows as a major strength. All components of GWP are unified under the single browser-based platform, allowing it to leverage the same integrated data architecture across all modules. The report found that this improved workflow and allowed automatic processing and deep integration of all components.
"Wealth management providers and advisors alike are increasingly looking for vendors capable of supporting multiple components of the wealth management process," said Isabella Fonseca, Research Director and co-author of the report. "Firms are also finding it necessary to invest in infrastructure which integrates with other systems when necessary. SEI's Global Wealth Platform is one of the few vendors in our study to offer a single, global platform with one infrastructure that leverages roles across the entire organization, while still providing clients full front-to-back office support with straight-through processing."
The study, conducted over a three-month span beginning in May, examined the leading North American wealth management platform vendors. The research attempted to identify major trends, client platform technology and functionalities, and client preferences. The nine vendors included in the report represent the main players in the platform space.
About SEI's Global Wealth Services
SEI's Global Wealth Services is an outsourcing solution for wealth managers encompassing wealth processing services and wealth management programs, coupled with business process expertise. The integrated offering aims to provide wealth management organizations the infrastructure, operations and administrative support necessary to capitalize on their strategic objectives in a constantly shifting market.
At the heart of the solution lies the Global Wealth Platform, which supports trading and transactions on 101 stock exchanges in 46 countries and 33 currencies, all using straight-through processing. For more information, visit http://www.seic.com/enUS/private-banks.htm.
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 June 30, 2012, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $424 billion in mutual fund and pooled or separately managed assets, including $182 billion in assets under management and $242 billion in client assets under administration. For more information, visit www.seic.com.