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

By LifeYield | November 9, 2022 | News
New Service Helps Wealth Managers Address Investors’ Increasing Portfolio Complexity

OAKS, Pa., and LONDON, Nov. 9, 2022 – SEI® (NASDAQ:SEIC) today 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.”

About SEI®

SEI (NASDAQ:SEIC) delivers technology and investment solutions that connect the financial services industry. With capabilities across investment processing, operations, and asset management, SEI works with corporations, financial institutions and professionals, and ultra-high-net-worth families to solve problems, manage change and help protect assets—for growth today and in the future. As of Sept. 30, 2022, SEI manages, advises, or administers approximately $1.2 trillion in assets. For more information, visit seic.com.

About the SEI Wealth PlatformSM

The SEI Wealth Platform (the Platform) is an outsourcing solution for wealth managers encompassing wealth processing services and wealth management programs, combined with business process expertise. With the Platform, SEI provides wealth management organizations with the infrastructure, operations, and administrative support necessary to capitalize on their strategic objectives in a constantly shifting market. The SEI Wealth Platform supports trading and transactions on 123 stock exchanges in 43 countries and 43 currencies, through the use of straight-through processing and a single operating infrastructure environment. For more information, visit: seic.com/wealthplatform.

About LifeYield

LifeYield is a technology company that improves investor outcomes by minimizing investment taxes and maximizing retirement income. Major financial services firms integrate LifeYield APIs with their proprietary platforms to automate ongoing asset location, tax harvesting, transitions, withdrawals, multi-account rebalancing, and retirement income optimization. LifeYield’s approach increases advisor productivity and improves financial results for investors, advisors, and firms by up to one-third. For more information, visit lifeyield.com.