SEI Recontracts With RiverFront Investment Group To Provide SMA Outsourcing Solution
OAKS, Pa., Jan. 20, 2011 /PRNewswire/ -- SEI (Nasdaq: SEIC) today announced that it has extended its relationship with RiverFront Investment Group, LLC to provide operations outsourcing services for the firm's separate account business for an additional three years.
SEI provides RiverFront with a fully-outsourced, customized solution centered on delivering automated business processes, account administration, reconciliation, and reporting. SEI's relationship with RiverFront, its system connectivity to sponsor platforms, and proven ability to scale its solution to handle RiverFront's significant growth were key factors in the decision process.
"We've been fortunate to have experienced significant growth over the past few years, and SEI has handled our evolving business needs," said Pete Quinn, RiverFront's Chief Operating Officer. "We're pleased to extend our relationship with them and are confident in their abilities as an industry leader."
"RiverFront is a terrific success story and we're proud that we've played a supporting role in their growth," said John Alshefski, Senior Vice President, SEI's Investment Manager Services division. "We're very pleased that RiverFront appreciates the expertise and services we have been providing them and have chosen to extend their relationship with us. We value our relationship with RiverFront and are looking forward to helping them achieve even more success."About SEI's Investment Manager Services Division SEI's Investment Manager Services division provides comprehensive operational outsourcing solutions to global investment managers focused on mutual funds, hedge and private equity funds, exchange traded funds, collective trusts, and separately managed, as well as institutional and private client, accounts. The division applies operating services, technologies, and business and regulatory knowledge to each client's business objectives. Its resources enable clients to meet the demands of the marketplace and sharpen business strategies by focusing on their core competencies. The division has been recognized by HFMWeek as "Most Innovative Fund Administrator (Over $30bn AUA)" and "Best Funds of Hedge Funds Administrator (Over $30bn AUA)." For more information, visit http://www.seic.com/enUS/im/346.htm. About SEI SEI (Nasdaq: SEIC) is a leading global provider of outsourced asset management, investment processing and investment operations solutions. The company's innovative solutions help corporations, financial institutions, financial advisors, and affluent families create and manage wealth. As of September 30, 2010, through its subsidiaries and partnerships in which the company has a significant interest, SEI administers $402 billion in mutual fund and pooled assets and manages $164 billion in assets. SEI serves clients, conducts or is registered to conduct business and/or operations, from numerous offices worldwide. For more information, visit http://www.seic.com. About RiverFront RiverFront Investment Group, LLC, is an independent SEC-registered investment advisor located in Richmond, Virginia, managing over $2.5 billion in a series of global tactical asset allocation separate account and mutual fund portfolios. Majority owned by its employees, the firm provides asset management , investment advice, and leading-edge market insights. RiverFront's minority investors include Robert W. Baird & Co. (Baird) and Private Advisors, LLC. For more information about RiverFront please visit www.riverfrontig.com. SOURCE SEI
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