SEI Whitepaper: Wealth Management Industry Must Transform Legacy Infrastructure for Long-Term Success

SEI Whitepaper: Wealth Management Industry Must Transform Legacy Infrastructure 
for Long-Term Success 
Unified Platform Model Key to Overcoming Legacy System Issues 
OAKS, PA -- (Marketwired) -- 09/30/13 --  The current technology
infrastructure in the wealth management space poses a major obstacle
to progress as the industry struggles to adapt to an increasingly
challenging environment, according to a whitepaper released today by
SEI (NASDAQ: SEIC). The paper, titled "SEI Insights: The Legacy of
Legacy Systems," explores how heightened client demands and desire
for control, changing regulatory requirements, and the current
economic landscape have strained the flow of information for both
wealth managers and clients. The paper discusses the need for a
radical industry-wide shift from legacy systems to single, unified
platform models to combat industry challenges and achieve long-term,
sustainable growth.  
"The wealth management industry has evolved tremendously over the
past few decades, but its rapid growth has led to growing pains,
especially with technological efficiency," said Al Chiaradonna,
Senior Vice President, SEI Wealth Platform. "What's interesting is
that this issue isn't unique to the wealth management space. Through
our research, we've discovered that we can learn from how other
industries have addressed legacy system constraints and use that
knowledge to build game-changing solutions." 
The paper examines the transformation of legacy systems in the
aviation sector as a model for the wealth management industry.
Following a surge in air travel, airlines increased efficiency and
revenue by moving away from siloed systems to a unified platform
concept. Similarly, the paper suggests that the wealth management
industry transition to a single platform for product distribution and
client data, allowing for the integration of disparate processes and
redistribution of capital to focus on client needs. 
"The industry needs a client-focused solution that is adaptable to
regulatory, market, and technology changes and puts clients in the
'co-pilot' seat throughout the investment process," Al continued.
"We've spent more than a decade working on this kind of solution and
the SEI Wealth Platform(SM) is the output. By providing firms with a
unified system and enterprise-wide approach, wealth managers can
better oversee accounts, advise clients, and ultimately provide
clients with the control they desire. Unified platforms are the key
to the industry's continued success."  
The paper also identifies the issues legacy systems pose for the
wealth management industry. As obstacles to efficiency increase, most
firms adapt "on the go" by introducing quick fixes that address
immediate issues. However, current solutions now struggle to deal
with the growing demands of a complex wealth management system. In
fact, independent research predicts the demand for wealth services
will double within a decade. To effectively meet this opportunity,
the industry needs to improve its capacity. The paper discusses how
shifting to a single, unified platform confers a competitive
advantage to wealth managers by eliminating infrastructure
complexity. As a result, wealth management firms will experience
greater efficiency, increased revenue, and improved wealth management
The paper, published by SEI Executive Connections, is the first in a
four-part series, titled "SEI Insights: The Future of Wealth
Management," which explores four key areas outside of the financial
industry that offer opportunities for transformation in the wealth
management industry. The final three parts of the series will look at
changes to risk management, behavioral segmentation, and advisor
productivity, respectively. SEI Executive Connections is a community
for bank executives and industry experts, which provides business
intelligence and opportunities to interact on banking topics and
trends. To request a copy of the full paper, please visit 
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: 
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 June 30, 2013, through its
subsidiaries and partnerships in which the company has a significant
interest, SEI manages or administers $507 billion in mutual fund and
pooled or separately managed assets, including $204 billion in assets
under management and $303 billion in client assets under
administration. For more information, visit 
Company Contact:
Dana Grosser
+1 610-676-2459 
Media Contact:
Alex Dalgliesh
Braithwaite Communications
+1 215-564-3200 x 116 
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