To provide outsourced back-office investment accounting and wealth management solutions
SEI, a global provider of outsourced asset management, investment processing and investment operations solutions, has renewed multi-year agreements with Franklin Street Financial Partners, Pennsylvania Trust and WoodTrust Bank to provide outsourced back-office investment accounting and processing services, as well as outsourced wealth management solutions.
These services are wrapped around a full suite of browser-based applications for private client account access, administration, investment management and open architecture tools.
Al Chiaradonna, SVP of private banks segment at SEI, said: The duration and success of these relationships validates SEI’s focus on helping our clients to grow their business. By choosing to outsource back- and middle-office functions to SEI, these wealth management firms are better positioned to concentrate on client-facing activities.
These long-time clients are true partners to SEI and we appreciate their confidence in us, just as we look forward to propelling their growth into next-generation wealth management firms.
Chad Kane, president and COO of WoodTrust Bank, said: Partnering with SEI for the last nine years has allowed us to simplify our business model and place our focus on value-added activities. SEI’s extensive knowledge of our business and long-term commitment to the wealth management industry makes them a reliable and valuable partner for us well into the future.
Franklin Street Financial Partners provides investment management and fiduciary services with approximately $2 billion in assets under management.
Pennsylvania Trust provides investment management and fiduciary services for individuals, families and institutions. It has more than $1.4 billion in assets under management.
WoodTrust Bank is a privately owned, full service financial institution in central and northern Wisconsin that serves over $1.2 billion in client assets.