SEI Launches Solution Aimed at New UK IWA Business Model

SEI Identifies New Type of UK Wealth Adviser in Need of Integrated Business Transformation

LONDON, 30 April 2009 – SEI (NASDAQ: SEIC) has announced the launch of a new range of services in the UK, enabled by SEI’s Global Wealth Platform, and developed specifically for a new business model in the wealth management industry. Dubbed “IWA” or Independent Wealth Advisers by SEI, this group distinguishes themselves through a desire to transform and enhance the client experience through a standardised, discretionary, fee-based advice model. They also seek to build long term value into their business with a scalable infrastructure and position client goals at the centre of the client relationship.  

The launch of the new services in the UK is supported by the release of a paper published today, entitled 'The Emergence of the Independent Wealth Adviser,' available at www.seic.com/iwa. SEI’s analysis identifies this emerging business model, for those wealth managers who share the same beliefs about what it takes to compete in an industry characterised by wide investor mistrust, market depreciation, and increased regulation.

This development will complement SEI's existing services by providing a totally integrated solution for IWAs who aim to take a new direction, transform their business, and hone their client focus.

Commenting, Brandon Sharrett, Director, SEI Global Wealth Services, said: "We fundamentally believe that the future of UK wealth management lies in the new Independent Wealth Adviser segment. However, whilst firms accept the need to change, many are unsure how to make the transition. We have developed this new set of services to empower businesses in their transformation to a more client-centric approach.

"SEI has always invested heavily in researching, designing and developing world class asset management and processing solutions for the wealth management market so this new set of client processing solutions aimed at the growing IWA segment is a natural step for us.

"The IWA model is the creation of a differentiated, advice-based client process, the navigation of successful transformational change and an innovative approach to managing partner relationships. This presents a significant opportunity and requires a mutual commitment. But we believe that with the right solution in place, the opportunity to deliver a better, more reputable service model to end-investors is available."

About SEI’s Global Wealth Services

SEI’s Global Wealth Services is an outsourcing solution for Wealth Managers which encompasses a comprehensive suite of services relating to client acquisition, client management, investment management, investment processing, infrastructure and business services management. 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 designed to help clients grow revenue, reduce cost and risk and leverage resources, enabling transformation.

At the heart of the solution lies the Global Wealth Platform, launched two years ago through the conversion of its first client,a major UK Private Bank. To date, GWP is operating in twelve countries, transacting in nineteen currencies and trading on twelve exchanges, all using straight through processing.

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 www.seic.com/pwi.

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, 2009, through its subsidiaries and partnerships in which the company has a significant interest, SEI administers $354 billion in mutual fund and pooled assets and manages $123 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.

What is an IWA?

IWA does not equal Independent Financial Adviser (IFA) or Registered Independent Advisor (RIA), it is instead an entirely new business model adopted by UK firms committed to transforming to meet the client needs of the future. This new segment will strive to become trusted advisors through the delivery of independent, fee-based advice. Employing a centralised models-based investment management approach, they will deliver a consistent client experience, transparent fee process, and ultimately enhance the capital value of their firm. Companies working with IWAs will invest in sustained professional development at a higher pace than IFAs in order to provide a consistent and trusted service. The client will support centralised, uniform processing capabilities, which will include the use of co-sourcing to increase efficiency and mitigate risk, thus allowing the IWA to focus on their core values and transforming their business for growth.

Issued by:
This information is issued 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.