LONDON, 19 Sept. 2011 – SEI (NASDAQ: SEIC) today announced that Fusion Wealth has gone live with the company’s Global Wealth Services (GWS) solution. Through GWS, SEI will provide Fusion Wealth with investment processing, order management, settlement, and core custody services.
Fusion Wealth originally entered into discussions with SEI over a year ago. SEI first announced Fusion Wealth as a new business transition client in April on its first-quarter 2011 earnings conference call. Assets will convert to GWS over time.
Fusion Wealth is a proposition which provides absolute technology solutions for firms and offers bespoke platform configuration, legacy management, data migration to and from back office, third party products, and plan manager service to the high-end advisory market. The firm’s current offering will now be combined with an innovative investment processing and trading solution powered by SEI’s GWS to create a fully integrated technology solution for premium adviser firms.
The partnership with SEI will enable Fusion Wealth to deliver a market-leading client experience, which ensures clients maintain their individual brand and autonomy over investments, whilst also taking advantage of SEI’s experience in wealth processing and investment operations.
Key to SEI’s offering is the Global Wealth Platform (GWP), which will enable Fusion Wealth firms to efficiently manage their portfolios with complete control over client data, advance functionality around rebalancing, and tax harvesting. The GWP technology will support Fusion Wealth’s proposition whilst allowing the firm to provide IFAs with expanded discretionary fund management services.
Ryan Hicke, Managing Director, SEI’s Global Wealth Services U.K., said:
“This strategic partnership with Fusion Wealth highlights our ability to deliver services to the premium, high-end adviser market. Fusion Wealth is dedicated to supplying exceptional platform and back office integration solutions to their clients. We are enthusiastic about assisting them in achieving these goals.
Commenting on the announcement, Ian Cooke, Chief Executive, Fusion Wealth, said:
“Fusion Wealth is focused on ensuring our clients are well-positioned in a post-RDR environment. We believe SEI has the pedigree and strength to deliver high service standards for the long term and is undoubtedly the right company to enhance our proposition. The GWS technology is a welcome addition to our unified technology suite and this will ultimately assist in increasing our market presence.”
SEI’s Global Wealth Services is an outsourcing solution for wealth managers combining wealth processing technology and wealth management programs, coupled with business process expertise. The integrated offering aims to provide wealth management organizations the infrastructure, operations and administrative support necessary to capitalize on their strategic objectives in a constantly shifting market.
At the heart of the solution lies the Global Wealth Platform, which supports trading and transactions on 100 stock exchanges in 53 countries and 31 currencies, all using straight-through processing. For more information, visit http://www.seic.com/enUS/private-banks.htm.
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, 2011, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $430 billion in mutual fund and pooled assets or separately managed assets, including $180 billion in assets under management and $250 billion in client assets under administration. For more information, visit www.seic.com.
Fusion Wealth powers bespoke wealth management and technology solutions for discretionary fund managers, regional and national financial advisers and networks. The service provided by Fusion Wealth enables firms to blend best of reed solutions from the whole market place and integrate this seamlessly with front, middle and back office operations.
The Fusion Wealth service helps firms to create their own in house platform with individually configured illustrations, ISA plan management and HMRC reporting, utomatic application to third party product provider, legacy integration and a discretionary rebalancing service.
Through innovation and automation Fusion Wealth customers are able to offer a truly unrivalled service to their entire client base.