SEI's Global Wealth Services To Support UK Wealth Management's Ambitious Growth Plan

LONDON, May 17 /PRNewswire-FirstCall/ -- SEI (Nasdaq: SEIC) today announced that it has been selected by UK Wealth Management (UKWM) to provide its Global Wealth Services (GWS) offering to the firm.

The UKWM Group is one of the country's leading wealth management organisations with over 1.3 billion pounds Sterling in assets under advice and management, on behalf of private clients, corporate clients, and trustees.

This new strategic partnership between SEI and UKWM has been established to help UKWM transform their business model, expand their client proposition, and establish a foundation for future growth. At the heart of SEI's offering is the Global Wealth Platform (GWP), which will enable UKWM firms to manage both advisory and discretionary business on a single platform, whilst providing clients with a broader range of wealth management services. UKWM will also take advantage of SEI's experience in project and relationship management to assist with their acquisition strategy in appropriately migrating clients' assets from multiple platforms onto a single infrastructure (GWP).

Joseph P. Ujobai, Executive Vice President, SEI's Private Banks segment, said:

"The signing of UKWM highlights the continued adoption of SEI's Global Wealth Services as a core operating model in the wealth management marketplace. Our technology and operations provide firms with scalable, centralised, and uniform capabilities to increase efficiency and mitigate risk. The pace and magnitude of change we have seen in the wealth management industry is causing firms to rethink their approach to growth and transformation and SEI is uniquely positioned to support clients with this challenge.

"UKWM recognised this shift in the landscape as an opportunity to promote a new wealth management model and chose to form a strategic partnership which will enable the firm to focus on client-servicing and continued conversion to a discretionary, fee-based model."

Commenting on the announcement, Peter Jones, Chief Executive of UK Wealth Management said:

"Creating a compelling proposition to deliver a differentiated client experience based around our client's own goals, whilst managing and reporting on the totality of their assets is vital for our business. Furthermore, we want to free up our consultants, enabling them to spend more time with their clients and focus on what they do best -- delivering quality advice.  We selected SEI because they understand and share our vision and their innovative solutions are aligned with our business model and future plans for growth.  

"UKWM operate a client centric model, with transparent and fair remuneration driven by advice and servicing, not by product provision. We are well-positioned in a post-RDR environment, and believe SEI is the right firm to enhance our proposition and assist with increasing our current market leadership. We look forward to working closely with SEI and benefiting from their in-depth knowledge of the global wealth management market."

About SEI's Global Wealth Services

SEI's Global Wealth Services is an outsourcing solution for Wealth Managers combining wealth processing technology and wealth management programmes, coupled with business process expertise. The integrated offering aims to provide wealth management organisations the infrastructure, operations and administrative support necessary to capitalise on their strategic objectives in a constantly shifting market.

At the heart of the solution lies the Global Wealth Platform (GWP), launched three years ago it supports trading through 85 stock exchanges in 43 countries, transacting in 28 currencies using straight through processing. For more information, visit www.seic.com/pwi.

About SEI's Private Banks segment

SEI's Private Banks business segment delivers investment management and investment processing services to private banks and wealth management organisations. SEI enables wealth managers to meet the rapidly evolving business and investment needs of their clients. SEI's solutions are designed to help their clients succeed by growing revenue, reducing cost and risk and leveraging resources. SEI's solutions are used by over 290 clients in 9 countries. For more information, visit http://www.seic.com/banks/.

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 March 31, 2010, through its subsidiaries and partnerships in which the company has a significant interest, SEI administers $394 billion in mutual fund and pooled assets and manages $162 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.

About The UK Wealth Management Group:

UK Wealth Management Limited (UKWM) is a wealth manager, combining investment management and independent financial advice, for the benefit of private clients, corporate clients and trustees.

UKWM provides discretionary asset management via UK Portfolio Management Ltd, bespoke pension solutions via Pensions Administration Ltd, and is the parent group for several well established independent advisory firms, including Yorkshire Investment Group, Plan Invest Group and Rocheberie Consulting.

This information is issued and approved by SEI Investments (Europe) Limited, 4th Floor, Time & Life Building, 1 Bruton Street, London W1J 6TL which is authorised and regulated by the Financial Services Authority. This material is not directed to any persons where (by reason of that person's nationality, residence or otherwise) the publication or availability of this material is prohibited. Persons in respect of whom such prohibitions apply must not rely on this information in any respect whatsoever. No offer of any security is made hereby. Recipients of this information who intend to apply for shares in any SEI Fund are reminded that any such application may be made solely on the basis of the information contained in the Prospectus.

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SOURCE SEI Investments Company