Partnership and Connection at the Core of Organizational Transformation and Future Growth
UMB Private Wealth Management Live on the SEI Wealth Platform
OAKS, Pa., March 21, 2022 – SEI® (NASDAQ:SEIC) today announced that UMB Private Wealth Management (UMB) is live on the SEI Wealth PlatformSM (SWP), providing UMB’s clients and employees a modernized wealth management experience through a fully integrated, single-infrastructure technology solution.
UMB selected SWP to manage their back-office operations and for its full suite of front-office services, including client-facing tools, proposal generation, portfolio management, client portal and reporting, and mobile application. To facilitate the seamless implementation, SEI also guided UMB through its proprietary Organizational Change Management program. Throughout the process, UMB and SEI partnered and executed in a remote environment despite the challenges presented by the pandemic.
Albert Chiaradonna, Head of the SEI Wealth Platform, North America Private Banking at SEI, said:
“Amid evolving consumer pressure for a digital, on-demand wealth management experience and a shifting talent landscape, people stand at the center of business transformation. Working together to solve problems, manage change, and make confident decisions helps position wealth management organizations for future growth. We’re excited to support UMB’s transformation and continue supporting the connections that help them build brave futures for their employees, clients, and communities.”
Nikki Newton, President of Private Wealth Management at UMB, said:
“SEI understands the importance of focusing on the people side of change, and we’re excited to partner with them on our business transformation journey. From organizational design support to communications planning to post-implementation support, SEI has been with us every step of the way. The SEI Wealth Platform provides us a powerful technology infrastructure that will help us grow our business and deliver the wealth management experience our clients and employees expect in a rapidly changing world.”
This news was previously announced on SEI’s fourth-quarter 2021 earnings call.
The SEI Wealth Platform (the Platform) is an outsourcing solution for wealth managers encompassing wealth processing services and wealth management programs, combined with business process expertise. With the Platform, SEI provides wealth management organizations with the infrastructure, operations, and administrative support necessary to capitalize on their strategic objectives in a constantly shifting market. The SEI Wealth Platform supports trading and transactions on 129 stock exchanges in 42 countries and 43 currencies, through the use of straight-through processing and a single operating infrastructure environment. For more information, visit: seic.com/wealthplatform.
SEI (NASDAQ:SEIC) delivers technology and investment solutions that connect the financial services industry. With capabilities across investment processing, operations, and asset management, SEI works with corporations, financial institutions and professionals, and ultra-high-net-worth families to solve problems, manage change and help protect assets—for growth today and in the future. As of Dec. 31, 2021, SEI manages, advises, or administers approximately $1.3 trillion in assets.
UMB Financial Corporation (Nasdaq: UMBF) is a financial services company headquartered in Kansas City, Missouri. UMB offers commercial banking, which includes comprehensive deposit, lending and investment services, personal banking, which includes wealth management and financial planning services, and institutional banking, which includes asset servicing, corporate trust solutions, investment banking, and healthcare services. UMB operates branches throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas. For more information, visit UMB.com, UMB Blog, UMB Facebook and UMB LinkedIn, or follow us on Twitter at @UMBBank.
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