Connor Broadley Goes Live on SEI Wealth Platform in a Fully Remote Environment

Rhea-AI Summary

SEI (NASDAQ: SEIC) announced the successful migration of U.K. wealth manager Connor Broadley to its SEI Wealth Platform, completing the process on schedule amidst remote work challenges due to COVID-19. The implementation began in December 2019, enabling Connor Broadley to utilize SEI's portfolio management solutions aimed at enhancing client experience. SEI also reported migrating over £6.1 billion of assets and 32,920 accounts for U.K. clients in the first half of 2020. This partnership is expected to support both firms' long-term growth objectives.

Positive

• Successful migration of Connor Broadley to SEI Wealth Platform on schedule.
• Utilization of SEI's innovative Portfolio Manager Experience, enhancing client services.
• SEI migrated over £6.1 billion of assets and 32,920 accounts amidst challenging conditions.

Negative

• None.

LONDON, Oct. 7, 2020 /PRNewswire/ -- SEI (NASDAQ: SEIC) today announced that U.K. wealth manager Connor Broadley is live on the SEI Wealth Platform^SM (SWP) following the successful migration of the firm's assets. The recent conversion was the culmination of an implementation process that began in December 2019 and finished on schedule, despite both SEI and Connor Broadley working remotely since March 2020 due to the COVID-19 outbreak. This news was previously shared on SEI's second quarter 2020 earnings call.

Following a competitive process in 2019, Connor Broadley chose SWP, SEI's fully-integrated, single-infrastructure technology solution that enables organizational transformation, provides front-, middle-, and back-office services, and supports an end-to-end, digital experience for wealth management organizations and their clients. SWP is part of SEI's Global Wealth Management Services business, comprised of market-leading, innovative solutions designed to support the future growth of investment and wealth managers globally.

As part of its strategic partnership with SEI, Connor Broadley is also taking advantage of SEI's new Portfolio Manager Experience solution. The solution streamlines the portfolio management process and automates administrative tasks, enabling firms to efficiently deliver the best investment advice, recognize the end-clients' specific needs and provide a personalized experience at scale. 

"When we selected SEI, we recognized we were choosing a firm that could become a trusted, strategic partner to support our growth over the long term," said James Connor, CEO of Connor Broadley. "Our expectations have been surpassed, particularly given the extraordinary and unprecedented environment we have found ourselves in during 2020. The level of service, focus and dedication of the SEI team has been exemplary. We're very pleased to be officially live and look forward to leveraging our partnership with SEI in the months and years ahead."

"From the outset of our strategic partnership with Connor Broadley, it was apparent that we shared an ambition to confidently improve end-client experiences through increased efficiencies and the application of innovative technology," said Brett Williams, Managing Director of U.K. Private Banking for SEI. "Our mutual commitment to that strategy has enabled us to withstand the remote working challenges that COVID-19 has created, remain focused on our implementation schedule and ultimately complete the migration successfully and on time. I'm proud that our team has remained focused on keeping all implementations on track, helping to mitigate the risk of incremental expenses and the considerable burden on staff that can be experienced by firms where implementation dates are delayed by providers. We now look forward to supporting Connor Broadley in meeting its immediate and long-term growth ambitions."

The conversion of Connor Broadley's assets to the SEI Wealth Platform is one of a number of migrations in the U.K. that SEI completed in the first half of 2020. From the beginning of the year to the end of July, amidst the global pandemic, SEI migrated more than £6.1bn of assets and 32,920 accounts for U.K. clients to the SEI Wealth Platform.

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 133 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.

About SEI
After 50 years in business, SEI (NASDAQ:SEIC) remains a leading global provider of investment processing, investment management, and investment operations solutions designed to help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of June 30, 2020, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages, advises or administers approximately $1 trillion in hedge, private equity, mutual fund and pooled or separately managed assets, including approximately $318 billion in assets under management and $693 billion in client assets under administration. For more information, visit seic.com.

About Connor Broadley
Connor Broadley is an independent, owner-managed company based in Mayfair, specialising in wealth management for private clients, and employee benefit consultancy for corporates. Established in 2007, Connor Broadley's approach to wealth management is unusual in that it places equal emphasis on high quality financial planning advice and in-house investment management expertise. For its private clients the company is responsible for £400 million FUM, and its employee benefits team look after over 100 corporate clients.

Company Contact:	Media Contact:
Leslie Wojcik	Jacqueline Gogel
SEI	Vested
+1 610-676-4191	+1 917-765-8720
lwojcik@seic.com	jacqueline@fullyvested.com

 

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SOURCE SEI Investments Company

FAQ

What is the significance of the Connor Broadley migration to SEI Wealth Platform?

The migration enhances Connor Broadley's operational efficiency and client services, marking a strategic partnership with SEI.

When did Connor Broadley go live on the SEI Wealth Platform?

Connor Broadley went live on the SEI Wealth Platform on October 7, 2020.

How much in assets did SEI migrate for U.K. clients in 2020?

SEI migrated over £6.1 billion of assets for U.K. clients in the first half of 2020.

What challenges did SEI face during the migration process?

SEI faced remote work challenges due to COVID-19 but completed the migration successfully on time.

What technology solution did Connor Broadley choose from SEI?

Connor Broadley chose the SEI Wealth Platform, a fully-integrated technology solution for wealth management.