SEI increased its assets under administration by 25 per cent during 2016, with net flows in its UK Private Banking business up by 21 per cent.
It ended the year with AUA of £31.6bn, up from £25.2bn in 2015.
SEI’s data revealed the 2016 Isa season was slower than expected, with flows 27 per cent less than the previous year.
But Martin Steer, commercial director of SEI Wealth Platform, UK Private Banking, said flows recovered strongly at the end of the year.
He said: “Our year end results demonstrate strong growth for our existing clients in 2016, despite significant market volatility and a challenging backdrop for wealth management firms.”
In 2016 SEI added WH Ireland, Netwealth, and Munnypot to its client base and extended contracts with Danske Bank and Veritas Investment Management.
SEI’s UK private banking business already counts Tilney and Brewin Dolphin among its clients.
Mr Steer said: “We have got a really strong pipeline. With the pipeline we have got we expect announcements throughout the year of the exciting partnerships we are making.”
He said SEI is looking increasingly at the start-up section of the market.
Mr Steer said: “It is an exciting area of growth and we want to be part of that innovation.
“It is not an area we are focusing all our efforts on: we are very much focused on the larger institutional side.
“It is quite exciting and it is new for us.”
damian.fantato@ft.com
