SEI, Fusion to continue working on wealth platform

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SEI private banking is to continue collaborating with technology solutions provider Fusion Wealth for another seven years, ensuring continuity to the SEI wealth platform, Brett Williams has said.

“Our combined approach provides a powerful offering, which allows individual wealth management firms to focus on developing their proposition and service,” the SEI Wealth Platform chief executive said.

The extension means that SEI, whose platform underpins the investment proposition of firms such as Tilney Bestinvest and Sanlam, and Fusion will work together until at least 2023, and keeps Fusion on course to continue growth of its assets under management, which currently stands close to £2bn.

Since 2011 Fusion has provided support for 30 wealth management firms and private banks, all powered by the SEI Wealth Platform.

“The wealth management industry is changing extremely fast, meaning more and more firms are partnering with businesses that have institutional capabilities and can keep pace with complex legislation and regulations,” Mr Williams added.

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Peter Hall, chief executive of Tilney Bestinvest, said: “As one of the UK’s largest wealth managers, it is essential we have a partner that provides scale as well as technology and operational excellence to enable us to meet the needs of current and prospective clients.

“SEI’s commitment to the UK and long-term investment in the SEI Wealth Platform makes it the right business for us to work with as we continue to develop and grow our proposition.”