SEI (NASDAQ:SEIC) revealed on Tuesday (June 29, 2021) that it has decided to extend its contract with UK-based wealth management firm Netwealth Investments Ltd for another 5-year period.
As noted on SEI’s official website:
“It’s one thing to help someone achieve success. It’s another to make it last. We help our clients do both. We help professional wealth managers, institutional investors, investment management firms, and private investors create and manage wealth by providing innovative and comprehensive solutions that enable their long term success.”
The renewed contract aims to further build on an existing partnership between SEI and Netwealth that started back in 2016.
SEI’s management noted that they will keep offering integrated wealth management infrastructure and custody solutions to Netwealth via the SEI Wealth PlatformSM. Through their partnership with SEI, Netwealth will continue to receive support to complement its growth and development plans. The packages include integrations and a range of APIs for Netwealth’s digital trading platforms and broader product proposition.
The SEI Wealth Platform is reportedly a part of SEI’s Global Wealth Management Services division, consisting of innovative solutions specifically developed to support the future growth of investment and wealth managers internationally.
Charlotte Ransom, Chief Executive at Netwealth Investments Ltd, stated:
“We are pleased to continue partnering with SEI. It is important for our business to have a partner who can scale to support our growth, as well as collaborate with us on projects to meet some of our key strategic goals. We look forward to our continued strategic partnership.”
Brett Williams, Managing Director of UK Private Banking for SEI, remarked:
“The last year has highlighted the important role technology, alongside an experienced workforce, will play in the future of wealth management. We are pleased to continue our strategic partnership with Netwealth, who represent such a strong brand in the wealth management industry, and support them with their technology-led approach to providing traditional discretionary and advisory services. This re-contract illustrates our mutual commitment to our continued partnership.”