SEI Introduces Enhanced Portfolio and Account Monitoring Services for Wealth Managers

OAKS, Pa., March 17 /PRNewswire-FirstCall/ -- SEI (Nasdaq: SEIC) announced today that it is now offering enhanced portfolio and account monitoring services, which provides institutions with flexible management reporting capability, thereby increasing the efficiency and effectiveness of the account review process. SEI's portfolio and account monitoring services are a component of its overall Global Wealth Services solution.

SEI's enhanced portfolio and account monitoring services are:

• Automated.  Reviews are processed automatically, extensively reducing staff time.
• Proactive.  Account compliance data is continually refreshed on a daily basis so compliance exceptions are immediately identified at the time they occur.  This allows for proactive remediation and risk reduction.
• Objective and consistent. Because the solution is automated, there is no subjective application of compliance rules.
• Online.  All data is securely stored online, providing easy management and access to support internal and external audits.
• Consolidated.  Account data needed to process reviews and conduct associated research resides in a single online location.
• Simple.  Compliance business rules are supported via an automated rules engine, which provides unparalleled flexibility to customize rules, and simplify their creation and maintenance.

"SEI's enhanced portfolio and account monitoring services significantly simplify the management of accounts from an investment review and administrative perspective, while also helping to control costs associated with risk management," said Richard Kardys, Group Executive Vice President of Frost.

In particular, the solution assists wealth managers with their ever-growing compliance burden. Many have struggled to adopt best practices in the face of increased scrutiny from both federal regulators and wary investors.

"Everyone we speak with is dealing with the same issues – an exponentially larger compliance task list coupled with all of the preexisting business demands," said Al Chiaradonna, Senior Vice President, SEI's Private Banks segment. "Wealth managers are overwhelmed with the compliance strain being placed on them.  We recognize the importance of risk management as it relates to mandatory compliance standards and have created a service that should ease the growing pain for these organizations."

About SEI's Global Wealth Services

SEI's Global Wealth Services is an outsourcing solution for Wealth Managers encompassing wealth processing services and wealth management programs, coupled with business process expertise. The integrated offering aims to provide wealth management organizations the infrastructure, operations and administrative support necessary to capitalize on their strategic objectives in a constantly shifting market.

About SEI's Private Banks Segment

SEI's Private Banks business segment delivers investment management and wealth processing services through its Global Wealth Services solution 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 and protect revenue, minimize cost and allocate capital effectively, enable risk management and help manage transformation. SEI's solutions are used by over 290 clients in 9 countries. For more information, visit http://www.seic.com/banks .

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 December 31, 2009, through its subsidiaries and partnerships in which the company has a significant interest, SEI administers $392 billion in mutual fund and pooled assets and manages $158 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.

SOURCE SEI