SEI Enhances Front-Office Capabilities With Acquisition Of NorthStar Technology
Speeds Delivery of Front-Office Services Across Global Wealth Platform
OAKS, Pa., Feb. 16, 2012 – SEI (NASDAQ:SEIC) announced today that it has acquired assets of the technology firm NorthStar Systems International, Inc. in a move designed to quickly expand SEI’s front-office capabilities across its Global Wealth Platform, the company’s new wealth processing platform. This technology will enable SEI to deliver more sophisticated levels of front-office automation and functionality to its wealth management clients in critical business areas such as client acquisition and client management.
This technology automates a wide variety of client-related activities for wealth management providers, including financial planning and proposal generation, investment policy statements and product catalogs, portfolio construction and monitoring, and compliance.
“Providing our clients with automated front-office capabilities was always part of our road map for the Global Wealth Platform,” said Alfred P. West, Jr., SEI’s Chairman and CEO. “Our clients are looking for a fully integrated operating platform on which to run their businesses. This acquisition will speed the delivery of these services to market and help us build out our vision of the Global Wealth Platform. We look forward to bringing these solutions to our markets once we have completed the necessary integration work.”
SEI (NASDAQ:SEIC) is a leading global provider of investment processing, fund processing, and investment management business outsourcing solutions that help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of December 31, 2011, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $404 billion in mutual fund and pooled or separately managed assets, including $172 billion in assets under management and $232 billion in client assets under administration. For more information, visit www.seic.com.