Pinnacle Trust Goes Live on SEI Wealth Platform(SM)
Pinnacle Trust Goes Live on SEI Wealth Platform(SM)
SEI's Scalability and Single-Infrastructure Integration Pointed to as Key Differentiators in Selection Process
OAKS, PA -- (Marketwired) -- 06/24/13 -- SEI (NASDAQ: SEIC) announced today that Pinnacle Trust has gone live on the company's fully integrated wealth management solution, the SEI Wealth Platform(SM) (the Platform). The Platform provides Pinnacle Trust with a single-infrastructure solution, integrating wealth processing and wealth management and will enable Pinnacle Trust's advisors to provide their clients with holistic and transparent pictures of their wealth.
Pinnacle Trust, an independent trust company based in Jackson, Mississippi, offers integrated financial solutions in three primary business areas: wealth management, financial planning, and trust services. An SEI client since 1997, Pinnacle Trust announced during the fourth quarter of 2012 that it renewed its relationship with SEI for an additional 10 years. Pinnacle Trust has nearly 900 accounts and will have over $400 million in assets on the Platform.
"For the past 15 years, SEI has served as our true strategic partner, and we've directly experienced the unparalleled depth of SEI's wealth management expertise and top-rate, end-to-end technology offering," said Stacey Wall, Chief Executive Officer, Pinnacle Trust. "With the SEI Wealth Platform, we'll not only be able to focus on client needs, but simultaneously upgrade our infrastructure and move much of our business to a Unified Managed Household environment, allowing us to aggressively grow and transform our business."
"We were thrilled that Pinnacle Trust chose to expand its extensive relationship with SEI, and the company's successful conversion onto the SEI Wealth Platform is a true milestone," said Al Chiaradonna, Senior Vice President, SEI Wealth Platform. "The Platform was designed to respond to evolving client demands and drive efficiencies throughout a firm's wealth management business. Pinnacle Trust saw an opportunity to become an early adopter, and we look forward to working with them as they continue to grow and enhance their business."
With the SEI Wealth Platform, Pinnacle Trust will not only have the ability to offer its services in a scalable and strategic manner, but i t will also benefit from innovative, leading edge tools which are necessary for firms looking to attract top advisors.
"Over the next few years we want to aggressively grow our business by both adding new advisors and building client assets," said Jeremy Nelson, Chief Investment Officer, Pinnacle Trust. "SEI's fully integrated solution will enable our success throughout the relationship cycle by supporting our new business-development initiatives in the beginning, and providing cutting-edge tools to service our clients throughout the duration of their relationship with us. We're confident this is the kind of straight-through-processing environment that will appeal to advisors and will ultimately assist us in attracting and retaining additional talent while providing a truly differentiated client experience."
Pinnacle Trust is the second SEI U.S. bank client to go live on the SEI Wealth Platform, following Centier Bank's conversion in December 2012.
About the SEI Wealth Platform(SM) 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 104 stock exchanges in 45 countries and 33 currencies, through the use of straight-through processing and a single operating infrastructure environment. For more information, visit: http://www.seic.com/enUS/private-banks.htm.
About SEI 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 March 31, 2013, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $495 billion in mutual fund and pooled or separately managed assets, including $206 billion in assets under management and $289 billion in client assets under administration. For more information, visit www.seic.com.
About Pinnacle Trust Pinnacle Trust is Mississippi's only independent trust company. The company offers an integrated financial solution to its clients, focusing in the areas of asset management, financial planning, and trust services. With $400 million under management, Pinnacle Trust is one of the state's largest independent financial services firms. For more information, visit www.pinntrust.com.
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