SEI (NASDAQ:SEIC) announced today it has extended its contract with UK wealth manager Netwealth Investments Limited (Netwealth) for a further five years.
The re-contract builds on an existing strategic partnership between the two companies that began in 2016 and SEI will continue to provide integrated wealth-management infrastructure and custody to Netwealth through the SEI Wealth PlatformSM. The partnership with SEI will continue to support Netwealth’s ambitious growth, and will include integrations and a range of application programming interfaces (APIs) for Netwealth’s electronic trading channels and broader proposition.
The SEI Wealth Platform is part of SEI’s Global Wealth Management Services business, comprised of market-leading, innovative solutions designed to support the future growth of investment and wealth managers globally.
Commenting on the partnership, Charlotte Ransom, Chief Executive Officer of Netwealth Investments Limited, said:
“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, said:
“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.”