November 28, 2012 09:00 ET

SEI Study: Digital Media the Key to Engaging the World's Wealthy

Futurewealth Report Reveals Rising Wealthy Are Leaders of Information Age

OAKS, PA--(Marketwire - Nov 28, 2012) - According to a study released today by SEI (NASDAQ: SEIC), Scorpio Partnership, and Standard Chartered Private Bank, the world's up-and-coming wealthy are much more likely to use the internet, mobile applications, and other digital media communications tools to create, manage, spend, and invest their money. The study, titled "The Futurewealth Report: The Digital World of the Futurewealthy," surveyed 3,477 respondents from across the world with an average $1.9 million in assets. The results point to an opportunity for financial services professionals to connect and engage more effectively with clients and prospects in this largely receptive market segment if they embrace the same technology innovations.

"We understand the needs of the wealthy are changing and this study is the first in a series that will allow us to forge new directions for one of the most important issues to the next generation -- technology," said Al West, Chairman and Chief Executive Officer of SEI.

The study reveals the digital habits and views on technology of individuals on the fast track to considerable wealth who have positioned themselves at the forefront of the digital information age. This group has been quick to acknowledge the role that technology innovations have played in their success. More than half of those surveyed (56 percent) believe their "engagement with the internet and digital technology" has contributed to their ability to create wealth. What's more, these futurewealthy believe this influence will be of even greater value in the future. The number responding positively increased to more than three-fourths of respondents (77 percent) when asked if the internet and digital technology will contribute to their success five years down the road. These results suggest they believe the internet will prove even more valuable to their future success in generating wealth than it does today.

"With the rise of a tech-savvy wealthy segment, financial intermediaries, especially wealth management firms, need to adjust their business models and value propositions based on a stronger understanding of their segments' technology habits and desires, not the size of their wallets," said Al Chiaradonna, Senior Vice President of SEI's Global Wealth Services. "Institutions that expect this group to align with them need to have leading-edge technology platforms and infrastructure to support the changing landscape and enrich the client experience. As the survey results suggest, this group is best won over by companies who can offer future-focused technology innovations and services."

The study also revealed some insights on the preferences for digital-based communication and networking tools for the next generation of wealthy. Nearly two-thirds (64 percent) believe that collaborating with others online will be important to their continued wealth creation. Many of them already have a presence on multiple social media platforms geared towards networking and connecting with others. The vast majority of respondents (71 percent) already have a presence on Facebook and nearly a third (31 percent) are using LinkedIn. In keeping with a preference for social networking as their new means of communication, more than half of those surveyed (55 percent) access social networking sites through mobile applications or devices. Further supporting their preference for using the latest in digital media, nearly half of the study participants (49 percent) use a banking/finance mobile application, suggesting a shift in how they prefer to manage and monitor their finances.

"This study has given us a better understanding of how wealthy individuals are increasingly using all of the latest tech innovations to control, grow, and monitor their wealth, and there is nothing to suggest this trend will slow as we move into the future," said Kevin Crowe, Head of Solutions, SEI Advisor Network. "With this knowledge, advisors need to better prepare themselves with the technological and digital media skills necessary to take new, creative marketing approaches that use client segmentation, brand positioning, and other strategies to better connect to this valuable group of fast risers. Advisors must embrace and share the passion for technology and digital media tools with these futurewealthy if they want to truly engage and grow relationships with them."

This report is the first in a four-part series of studies as a component of the larger Futurewealth Project, which aims to better understand the ambitions and consumer attitudes of the world's up-and-coming wealthy. Each report within the series, titled "Stepping Up to the Communication Age," will focus on a different theme around how technology and digital communications can be used to engage the next generation of wealthy. The other three parts of the series will be published in the first half of 2013. For more information about the study, please visit

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

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 $32.5 billion in advisors' assets under management (as of Sept. 30, 2012). 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 September 30, 2012, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $448 billion in mutual fund and pooled or separately managed assets, including $195 billion in assets under management and $253 billion in client assets under administration. For more information, visit

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