LONDON, Jan. 27, 2011 /PRNewswire/ -- SEI (Nasdaq: SEIC) announced today that the company's Global Wealth Services (GWS) infrastructure has been selected by True Potential (TP) to power the firm's new wrap platform, True Potential Platform and Investment Strategies.
TP is one of the United Kingdom's fastest-growing IFA service providers, recently named as the top Adviser Software System by Money Marketing. Launched in 2008, TP today supports roughly 697 IFA firms with combined assets under management of 31bn pounds Sterling, accounting for more than 15 percent of all U.K. advisers.
TP's platform builds upon the firm's core principles by enabling advisers and their clients to easily access information and manage investments in an innovative way, while embracing the key themes set out by the FSA's Retail Distribution Review (RDR).
SEI's Global Wealth Platform (GWP) will complement TP's solution by providing a highly scalable core infrastructure for back-office administration, trading, and custody services. The infrastructure's proven track record combined with its ability to be customized to fit the needs of differentiated business models were pointed to as key drivers in the decision-making process.Joseph P. Ujobai, Executive Vice President of SEI, said: "We are excited to be working with True Potential and share their vision of redefining the U.K. wealth management space by providing innovative solutions to growth-oriented advisory firms and their clients. Our strategic partnership with True Potential further demonstrates SEI's ability to support a wide range of business models and strategies. Our highly configurable Global Wealth Platform provides core capabilities, allowing wealth managers to truly drive business growth with efficiency and scale." Commenting on the announcement, Mark Henderson, Senior Partner of True Potential said: "When selecting a partner we had to make sure that they would have the ability to fully implement the seamless process we have designed and offer an online scalable service.