SEI Wealth Platform℠ Delivers Another Year of Increasing

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News Desk 2018
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SEI Wealth Platform℠ Delivers Another Year of Increasing Flows and New Business Growth in the UK

LONDON, March 27, 2017 (GLOBE NEWSWIRE) -- SEI (NASDAQ: SEIC ) announced today that it increased assets under administration (AUA) by 25 percent in 2016, with year-over-year net flows in its U.K. Private Banking business rising by 21 percent.

The business, which provides outsourced investment processing technology for leading private banks and wealth management firms through the SEI Wealth Platform SM , ended the year with AUA at £31.6 billion, up from £25.2 billion in 2015 - an increase of 25 percent. In 2016 SEI also added WHIreland, Netwealth, and Munnypot to its client base and extended contracts with Danske Bank and Veritas Investment Management.

From an industry perspective, SEI’s data reveals that the 2016 ISA season was slower than expected, with flows 27 percent lower than the previous year. The data derived from the SEI Wealth Platform SM also reveals the strength of investor sentiment with the business witnessing a slowdown in flows around the United Kingdom’s decision to leave the European Union in June last year, followed by a strong recovery in flow volumes by the end of the year.

Brett Williams, Managing Director, SEI Wealth Platform, U.K. Private Banking, commented:

“Our year end results demonstrate strong growth for our existing clients in 2016, despite significant market volatility and a challenging backdrop for wealth management firms. It is particularly pleasing to have secured a number of new clients across a variety of segments during a year in which we also completed the re-contracting of all of our existing U.K. clients. Our pipeline of new business remains very strong and we expect to announce additional partnerships in the coming months.

“Wealth Managers across the sector are seeing significant growth opportunities, yet with an environment of increased regulation and a more digitally demanding consumer, it has never been more costly or risky to provide advice. Our objective is to ensure that our clients are able to maximise these opportunities whilst minimising cost and mitigating risk. We feel we are well positioned to capitalise on the changing market dynamics ahead of us in 2017.”

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 140 stock exchanges in 53 countries and 41 currencies, through the use of straight-through processing and a single operating infrastructure environment. For more information, visit: seic.com/wealthplatform.

About SEI SEI (NASDAQ: SEIC ) is a leading global provider of investment processing, investment management, and investment operations solutions that help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of December 31, 2016, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $751 billion in hedge, private equity, mutual fund and pooled or separately managed assets, including $283 billion in assets under management and $468 billion in client assets under administration. For more information, visit seic.com.

Company Contact: Caroline Deutsch SEI +44 203 810 7561 cdeutsch@seic.com Media Contact: Andrew Appleyard/Gregor Dickie MRM +44 020 3326 9918 seiwp@mrm-london.com

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