SEI Launches 'Ready-4-Reform' to Aid Advisors with New Regulations, Promote Business Growth

OAKS, Pa., Sept. 22 /PRNewswire/ -- SEI (Nasdaq: SEIC) today announced it has launched Ready-4-Reform, a program to help advisors prepare for the new regulatory environment and pending legislative changes. The program, offered by the SEI Advisor Network and run by the unit's Practice Management team, includes a four-stage process: Review, Revise, Retool, and Reconnect. SEI developed Ready-4-Reform based on feedback from advisors and results of a survey that found advisors are overwhelmed and unsure how the new regulations will impact their businesses. Nearly three-quarters of the 144 advisors surveyed are either 'not familiar' or 'somewhat familiar' with the impact of financial reform. Less than one-tenth said they are 'very familiar' with financial reform regulations.

"Advisors we work with are very concerned about financial reform and what it means to their business," said John Anderson, Head of Practice Management Solutions, SEI Advisor Network. "They want to make sure they understand and meet all changing legal requirements. They're also concerned with how much time managing these regulations will take away from their other responsibilities. Through Ready-4-Reform, we're hoping to assist them in understanding what changes are required. As a result, we'll help them know the necessary steps to be compliant with new regulations, so they will be able to spend time on other matters, like face-to-face meetings with clients and prospects."

Ready-4-Reform consists of four distinct stages:

• Review – Inform and update advisors on current and proposed regulations, what they mean, business implications, and expected timeframe of action.
• Revise – Provide resources to rewrite Form ADV Part II language.
• Retool – Offer 12b-1 business analysis tool.
• Reconnect – Provide ongoing support to advisors through an email hotline ([email protected]) and investor-ready communications materials.

As part of Ready-4-Reform, SEI will provide a range of support and resources including: regular updates on proposed regulatory changes; pending legislation and its probable business implications; webcast seminars; support to answer specific advisor questions; resources to assist in Form ADV Part II revisions; analysis tools to analyze existing 12b-1 fund business; and, investor-ready communications. Additionally, SEI will work with advisors to explore how best to target prospects during this transitional period.

All of the more than 6,000 advisors that work with SEI are eligible to take advantage of Ready-4-Reform. On September 8th, SEI offered a webcast tutorial on financial reform and its impact on the advisory community with representatives from SEI's legal team as well as an outside law firm.

"Our clients assume we're compliant with current regulations and have no appreciation for the time, expense, and burden it places on our business," said Barry Ransick, of Principled Wealth Advisors in Covington, Kentucky. "In fact, it's very challenging to navigate and understand the regulatory and legislative changes that are going into effect. Our entire team is gratified to have SEI help us work through this process so we can spend more time with clients, focusing on their needs, and moving our business forward."

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 over 6,000 advisors who work with SEI, and $28.4 billion in advisors' assets under management (as of June 30, 2010). The SEI Advisor Network is a strategic business unit of SEI. For more information, visit www.seic.com/advisors.

About SEI

SEI (NASDAQ: SEIC) is a leading global provider of outsourced asset management, investment processing and investment operations solutions. The company's innovative solutions help corporations, financial institutions, financial advisors, and affluent families create and manage wealth. As of June 30, 2010, through its subsidiaries and partnerships in which the company has a significant interest, SEI administers $380 billion in mutual fund and pooled assets and manages $149 billion in assets. SEI serves clients, conducts or is registered to conduct business and/or operations, from numerous offices worldwide. For more information, visit www.seic.com.

SOURCE SEI