SEI Enhances SEI Wealth Platform with Unified Managed Household Capabilities from LifeYield

SEI Enhances SEI Wealth Platform with Unified Managed Household Capabilities from LifeYield

New Service Helps Wealth Managers Address Investors’ Increasing Portfolio Complexity

By Joel Bruckenstein, CFP

SEI® (NASDAQ:SEIC) announced enhanced unified managed household (UMH) capabilities within the SEI Wealth PlatformSM (SWP) through a strategic partnership with LifeYield®, a leading API-based Software-as-a-Service provider. The new service provides wealth managers in the U.K. and private banks and trust companies in the U.S. with the ability to deploy a single investment model across multiple accounts within the same household, while benefiting from SWP’s end-to-end, digital wealth management experience.

Rob Wrzesniewski, Head of Global Solutions for SEI’s Private Banking business, said:

“The complexity of investors’ portfolios continues to increase—especially in today’s economic environment. Our goal is to help our clients manage uncertainty and deliver their best thinking to investors with confidence—all while growing their businesses. Our new models-based portfolio management solution provides wealth managers with the full picture across an investor’s household, so they can make asset location recommendations that help investors gain optimal tax benefits. We’re excited to work with LifeYield to deliver unified managed household capabilities through a complete experience on the SEI Wealth Platform.”

By integrating LifeYield’s advanced technology and methodology, SWP’s new UMH capabilities strengthens SEI’s Portfolio Management Experience by enabling the automation of asset location recommendations based on anticipated returns and applicable tax code implications. Optimizing asset placement into the ideal account type can enable greater tax efficiencies, providing an opportunity for higher after-tax returns, while still balancing the overall risk appetite and asset allocation of the household.

Steve Zuschin, Executive Vice President of Business Development at LifeYield, said:

“With uncertainty at every turn and more people retiring, there is a greater-than-ever demand for technology-powered financial advice. We’re excited to work with SEI to provide their clients with automated and personalized tax management capabilities at scale through the SEI Wealth Platform. Our strategic partnership with SEI supports our mission to enable greater wealth manager productivity and help investors keep more of what they earn.”

Joel Bruckenstein
Joel Bruckenstein
Joel P. Bruckenstein, CFP®, is Publisher of the T3 Tech Hub (formerly the T3 newsletter) and the producer of the Technology Tools for Today (T3) Advisor Conference, the only annual technology conference for independent advisors, as well as the Technology Tools for Today (T3) Enterprise Conference. He also hosts other technology summits in partnership with thought leaders in the financial services industry (e.g., Brian Hamburger of MarketCounsel) and his own by-invitation-only fintech summit every summer. In 2020, Bruckenstein will produce for the first time a new one-day intensive called T3 Cyber University. Bruckenstein is an internationally acclaimed expert on applied technology as it relates to the financial service industry. He is the co-author of three books: Virtual Office Tools for a High Margin Practice, Tools and Techniques of Practice Management, and Technology Tools for Today’s High Margin Practice. Bruckenstein’s monthly technology columns appeared in Financial Advisor magazine and Financial Planning magazine for many years. In addition, he works in tandem with industry influential Bob Veres, publisher of Inside Information, to produce an annual technology survey for the financial planning community. Bruckenstein accepted the fifth annual Leadership Award bestowed by Bob Veres' Insider's Forum, a conference that brings together the leading figures of the financial planning profession during a main stage presentation at the Insider's Forum held September 6-8, 2017 in Nashville, TN. Bruckenstein has for more than twenty years advised financial service firms of all sizes on improving their technologies, processes and workflows. For more information about Joel Bruckenstein and the services his firm offers, please visit www.JoelBruckenstein.com.

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