SEI Introduces Private Client Models to Banking Market
Asset Management Model Addresses Emerging Client Needs
OAKS, Pa., Jan. 22 /PRNewswire-FirstCall/ -- SEI (Nasdaq: SEIC) announced today that its Private Banking segment has introduced a new asset management model to the banking market. In reaction to emerging client asset management needs, SEI's Private Client Models will provide a new type of asset-allocation model that integrates the principles of behavioral finance into the traditional modern portfolio asset allocation mix. SEI's models-based approach to investing is a component of their comprehensive Global Wealth Services solution.
Within the industry, there is an emerging understanding that clients do not fully relate to the concept of risk in traditional performance benchmarks. Clients are seeking a more tangible way to factor risk into their portfolios; instead of addressing theoretical risk, they want to see how risk impacts their specific goals. After introducing Private Client Models to the Investment Advisor market, SEI recently expanded its asset management solutions to the private banking market.
"Our organization, like many wealth management institutions, is faced with a greater challenge in servicing today's end customer," said Stacey Wall, President of Pinnacle Trust Company who recently began using SEI's Private Client Models. "Today's investor tends to focus largely on achieving life goals versus pure investment performance returns."
"We believe SEI can help organizations like Pinnacle meet these challenges head on," said David Campbell, Senior Vice President for SEI's Private Banking Solutions. "Private Client Models give investors a clear picture of their potential risk component and enables them to make goals-based investment decisions. Assessing appropriate risk levels for a variety of goals and life events is critical to leading a client through a successful investment process and are a great addition to our mix of asset allocation strategies."
To further address these kinds of client issues, SEI recently formed the U.S. Asset Management Advisory Council. The council was created to initiate a dialogue around the state of asset management in the private banking market and provide a forum for industry professionals to discuss new developments, emerging trends and future needs. Council membership includes private banking executives and wealth managers from nine bank clients that represent a broad range of sizes and regions across the U.S.
About SEI's Private Banks Segment
SEI's Private Banks business segment delivers investment management, investment processing and trading services to private banks and wealth management organizations. SEI enables wealth managers to meet the rapidly evolving business and investment needs of their clients by helping them grow revenue, reduce cost and risk and manage capital. SEI's solutions are used by over 290 clients in 9 countries. For more information, visit http://www.seic.com/banks/.
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 September 30, 2007, through its subsidiaries and partnerships in which the company has a significant interest, SEI administers $423 billion in mutual fund and pooled assets and manages $202 billion in assets. SEI serves clients, conducts or is registered to conduct business and/or operations from more than 20 offices in over a dozen countries. For more information, visit www.seic.com.