OAKS, Pa., March 8, 2011 /PRNewswire/ -- SEI (Nasdaq: SEIC) today announced that 2010 was a year of strong growth for the SEI Advisor Network as it signed on 406 new Registered Investment Advisors, increased assets under management to nearly $31 billion and generated $5 billion in new receipts. The number of new advisors that joined SEI continues to increase rapidly and represents a more than 60 percent increase in new advisors from 2009.
"In 2010, a record number of advisors joined our ranks – not only because of our differentiated investment strategies, but also because of our deep practice management expertise and our ability to help grow their businesses through customized solutions and support," said Wayne Withrow, Executive Vice President and SEI Advisor Network Business Unit Leader. "These individuals are true professionals, committed to excellence and determined to provide their clients with the best services available."
The growth in 2010 builds on SEI's position as a leader in the market. SEI provides wealth management services to thousands of financial advisors. In addition to its ongoing back office and administrative services and investment solutions, in 2010, SEI broadened its practice management capabilities. In particular, SEI launched its Practice Management Workshops, a series of interactive in-person sessions and webcasts teaching advisors best practices around key topics such as time management and practice efficiency, client service, marketing and prospecting and succession planning. The topics were selected based on advisor feedback and results of a survey conducted by SEI on their top resolutions for the year. In 2010, SEI also launched Ready-4-Reform, a program to help advisors prepare for the new regulatory environment and pending legislative changes.
"Investors today are looking for more than just investment results from their advisors, they want the overall package," said Brian McKee, McKee Financial Resources, Inc. "They want the best of both worlds – an advisor who can provide an individual, personalized touch and one who is backed by deep resources, research and expertise. For me, working with SEI allows me to create a practice that is both scalable and meets my clients' needs."
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; trust, banking, and institutional services; 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 6,000 advisors who work with SEI, and $31.1 billion in advisors' assets under management (as of Dec. 31, 2010). 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, 2010, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $416.0 billion in mutual fund and pooled or separately managed assets, including $172.3 billion in assets under management and $243.7 billion in client assets under administration. For more information, visit www.seic.com.