Broadstone Pensions & Investments live with SEI wealth management tech

Source: SEI

SEI announced today that Broadstone Pensions & Investments Ltd has gone live with the company's Global Wealth Services (GWS) offering to support its independent wealth management services.

SEI first announced BROADSTONE as a new infrastructure client during its first-quarter 2012 earnings conference call. 

BROADSTONE, formerly known as BDO Investment Management, offers pension advice and investment solutions to private clients and companies through highly-qualified advisers in offices across the UK. BROADSTONE's goal is to deliver expertise with absolute clarity, helping to re-build faith in financial services by offering a reliable, transparent, and straightforward service to clients.

SEI's Global Wealth Platform (GWP) will provide a single infrastructure to support BROADSTONE's advisory and discretionary clients, and enable BROADSTONE to expand its services to these clients. GWP will also provide a simplified, flexible operating model designed to support the firm's organic and acquisition-based growth.

SEI has developed a new, unique process, which helps firms define, design, and implement models for growth. The solution configured for BROADSTONE will provide one single infrastructure to support a range of BROADSTONE propositions, client types, asset classes, currencies, and users. It will also provide BROADSTONE greater control over the client experience, proposition, wrappers, investments, and fee structure when compared to typical UK platforms. This differentiation will be important for BROADSTONE as it seeks to expand its private client business.

BROADSTONE's Private Client Services division provides personal financial planning and investment solutions for private clients and their families. BROADSTONE works with over 1,500 clients and approximately £1.1 billion in assets under management.

Ryan Hicke, Managing Director, SEI's Global Wealth Services U.K., said: "We are excited to be working with BROADSTONE, and share their objectives of simplifying operational structure to provide scale, functional flexibility, and transparency. With the group's clear focus on continued growth and service, they are a great fit for SEI, both strategically and culturally.

"Our partnership with BROADSTONE demonstrates SEI's continued ability to support U.K. wealth managers seeking to deliver discretionary and advisory solutions through one common technology and investment processing partner."

Mark Howlett, Chief Executive at BROADSTONE, said: "When selecting a partner, we had to ensure they would have the ability to support our focus on providing reliable, transparent services to clients and support our strategy of growth both organically and by acquisitions.

"SEI more than met these requirements with their single-infrastructure platform offering. SEI's technology provides tailored support for private client investment managers, which allows us to focus on serving our clients. In addition, the efficiency and scalability of the platform will serve us well now and in the future. We are genuinely delighted to be partnering with SEI and believe this collaboration will provide a strong platform for growth over the coming years." 

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