August 20, 2015 10:24 ET

SEI Wealth Platform(SM) Continues Momentum Converting Two New Private Bank and Trust Clients in One Weekend

Clients First to Use Expanded Platform Services

OAKS, PA--(Marketwired - Aug 20, 2015) -  SEI (NASDAQ: SEIC) announced today the conversion of two new clients to the SEI Wealth Platform (the Platform). The company's next generation wealth management technology solution now supports nine private bank and trust clients across the United States and has another three in various stages of implementation. Pennsylvania Trust Company and First Interstate Wealth Management are the most recent additions to the growing roster of clients utilizing the Platform. The Platform is an integrated solution designed to support client relationship management including front-, middle-, and back-office fiduciary investment and account administration processing services.

"In a single weekend, we were able to convert both Pennsylvania Trust and First Interstate Wealth Management. Not only does this result in growing market adoption and nine U.S. clients live on the SEI Wealth Platform, but it demonstrates our ability to scale and bring our clients live faster than ever," said Al Chiaradonna, Senior Vice President, SEI Wealth Platform, North America Private Banking. "Both of these organizations have a deep commitment to providing their clients with the best possible service. By selecting the SEI Wealth Platform, they gain a comprehensive, modern infrastructure that will allow them to put significantly greater focus on their clients."

Pennsylvania Trust converted more than $2 billion in assets from SEI's TRUST 3000 technology to the Platform as well as $1 billion in assets from outside custodians. A total of more than 2,500 accounts were converted. Pennsylvania Trust is leveraging the Platform's integrated Portfolio Aggregation Service which gives them a holistic view of their clients' total assets, allowing for more in depth client relationship management. They will also be the first clients to benefit from the Platform's expanded portfolio management capabilities.

"For more than 20 years, Pennsylvania Trust has chosen SEI as a key wealth management partner," said Pennsylvania Trust Chairman and CEO, Richardson Merriman. "Our priority is spending time with our clients to help them identify and reach their goals. The SEI Wealth Platform allows us to focus more on clients, less on administration."

Expanding SEI's presence in Montana, Wyoming, and South Dakota, First Interstate Wealth Management converted an additional $3 billion in assets and approximately 2,600 accounts to the Platform from another third party trust accounting system. These assets -- a subset of First Interstate's total $4.6 Billion in assets under management -- are a mix of trusts, investment management, and custody accounts. First Interstate will leverage the full suite of services from the Platform enabling their wealth advisors to deliver a more intimate client experience and increase efficiency.

"As the industry evolves, the technology we leverage must evolve ahead of it. The SEI Wealth Platform supports our wealth management enterprise, including front-, middle-, and back-end operations, and will allow us to more efficiently manage and grow our business," said First Interstate Wealth Management President, Patricia Smith. "It also better positions us to manage risk and cultivate even stronger relationships with our clients."

The Platform currently supports private banking firms and their clients around the world. For more information, please visit

About the SEI Wealth Platform(SM)
The SEI Wealth Platform (the Platform) is an outsourcing solution for wealth managers encompassing wealth processing services and wealth management programs, combined with business process expertise. With the Platform, SEI provides wealth management organizations with the infrastructure, operations, and administrative support necessary to capitalize on their strategic objectives in a constantly shifting market. The SEI Wealth Platform supports trading and transactions on 128 stock exchanges in 50 countries and 35 currencies, through the use of straight-through processing and a single operating infrastructure environment. For more information, visit:

About SEI
SEI (NASDAQ: SEIC) is a leading global provider of investment processing, investment management, and investment operations solutions that help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of June 30, 2015, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $661 billion in mutual fund and pooled or separately managed assets, including $262 billion in assets under management and $399 billion in client assets under administration. For more information, visit

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