This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

New Report From SEI Shows Disconnect On Meaning Of Transparency

OAKS, Pa., Dec. 14, 2010 /PRNewswire/ -- SEI (Nasdaq: SEIC) today released the latest in a series of special interest papers that examines the changing relationship between investors and their wealth managers. This report is the first in the series to examine the North American market. While both groups say that increased transparency is of paramount importance, wealth managers and their clients differ on the level and nature of communication they are seeking.

The findings are available in new research report from SEI entitled, Tackling Transparency [ www.seic.com/TransparencyUS]. The paper is the result of in-depth interviews carried out by independent research firm Scorpio Partnership, that compared the views of 250 wealth managers and their clients on the issue of transparency to gain understanding of how their viewpoints of this topic do or do not align.

The findings of these interviews show a clear discrepancy between what wealth managers believe they are delivering and what investors believe they are receiving. The report shows that investors want an open dialogue and an easy method to understand their portfolios – and how it connects with their goals and the markets. However, these clients say what they typically receive from wealth managers is a complex report filled with information on transactions, tax, fees, products and services, without any analysis or explanation of how it relates to their personal circumstances. Additionally, the report demonstrates a disconnect as findings indicate that wealth managers say they have a strong understanding of their clients' goals, and that they excel at explaining their fee structures.

"Wealth managers and their clients agree on the need for greater transparency, but seem to differ on how to define it," said Al Chiaradonna, Senior Vice President for SEI's Global Wealth Services. "What we're talking about is 'usability' – as an industry we're expending great effort on transparency but still not truly delivering what clients are asking for. Wealth managers should ask themselves how they can provide a more dynamic reporting core that offers information and insight, not just data.  We hope this research, and the future papers in this five part series, urges wealth managers to contemplate significant changes to their business in order to provide the services their clients are really looking for. "

"We deal with investors on a daily basis and while they may not use the word transparency specifically, they are asking for more information, more insight into the rationale on every decision, and a greater level of communication around the entire process," said Michael Farrell, Managing Director for the SEI Wealth Network. "Clients are no longer content with receiving end-of-the-month statements. They want an ongoing dialogue and a consistent flow of practical information aligned to their specific situation."

About SEI's Global Wealth Services

SEI's Global Wealth Services is an outsourcing solution for Wealth Managers encompassing wealth processing services and wealth management programs, coupled with business process expertise. The integrated offering aims to provide wealth management organizations the infrastructure, operations and administrative support necessary to capitalize on their strategic objectives in a constantly shifting market.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,265.99 +109.14 0.64%
S&P 500 2,011.36 +9.79 0.49%
NASDAQ 4,593.4250 +31.2360 0.68%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs