SEI adds £6.2bn in AUM, amid fur­ther growth pre­dic­tions

The Star (St. Lucia) - - BUSINESS -

Pri­vate bank­ing plat­form SEI Wealth has in­creased its as­sets un­der man­age­ment £6.2bn in the first half of 2017, rep­re­sent­ing 20% growth. This strong per­for­mance saw AUA reach just shy of £38bn and meant that num­bers of clients us­ing the SEI Wealth Plat­form, which pro­vides out­sourced in­vest­ment pro­cess­ing tech­nol­ogy for pri­vate banks and wealth man­age­ment firms, hit 300,000 for the first time.

The 2017 ISA sea­son is much stronger than 2016, says SEI, with as­set flows up 50% on last year, with fi­nan­cial mar­kets bol­ster­ing strong in­vestor sen­ti­ment.

Martin Steer, com­mer­cial di­rec­tor at SEI Wealth Plat­form, UK Pri­vate Bank­ing said: “The first half of this year has seen some un­cer­tainty creep into the broader mar­ket, so it is very pleas­ing to see an­other pe­riod of strong growth for the plat­form.

“Notably, we fully com­pleted the WHIre­land on-board­ing, while ex­tend­ing a key, long-term re­la­tion­ship with Til­ney Bestin­vest. We look for­ward to adding more clients in the com­ing months.”

He added SEI felt “well po­si­tioned” to cap­i­talise on op­por­tu­ni­ties over the rest of the year as reg­u­la­tory pres­sure mounts and more wealth man­agers con­sider out­sourc­ing non­core func­tions.

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