Products February 14, 2017

Milestone Group to Provide Multi-Asset Platform for SEI's OCIO Business

The solution helps OCIOs by leveraging the globally proven pControl multi-asset investment platform and has capabilities spanning front, middle and back office functions.
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SEI has selected Milestone Group’s pControl multi-asset software platform to support the growth of its outsourced chief investment officer (OCIO) business.

pControl will initially administer the automated allocation of daily cash flows and rebalancing of complex portfolios for SEI’s Institutional Group. This will ensure the scalable implementation and delivery of SEI’s most sophisticated solutions. The solution helps OCIOs by leveraging the globally proven pControl multi-asset investment platform and has capabilities spanning front, middle and back office functions.

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“As one of the largest OCIOs, SEI is always looking for ways to improve how we deliver services to our clients. We reviewed a number of options, but pControl stood out as the solution that best supports our business and the complex multi-asset structures that we manage,” says Kevin Matthews, vice president and managing director, Solutions Team, SEI Institutional Group. “pControl brings flexibility, efficiency and scalability to this operation, allowing SEI to focus on client delivery, and developing sophisticated products and strategies and getting them to market quickly.”
Data & Research February 14, 2017

More Women Managing Their Family’s Finances

Women’s two top financial worries are running out of money in retirement and managing the rising costs of health insurance, and 30% of women have turned to a financial professional for guidance.
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Just more than half, 51%, of women say they act as their family’s “chief financial officer,” according to the latest Allianz Women, Money and Power survey. However, at work, only 44% have the confidence to ask for a raise they think they deserve.

Fifty percent of women said that their earning power had increased, down from 57% in Allianz’s 2013 survey.

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Thirty-seven of married women say they are their family’s primary breadwinner, up from 31% in 2013, and 53% of women are responsible for managing their household’s long-term savings and investments.

“Women are taking a larger role in managing household finances and are gaining more responsibility for the financial success of their family,” says Katie Libbe, vice president of consumer insights at Allianz Life. “The savviness that women exhibit with their household finances can translate to being more assertive and having confidence to take risks in their careers.”

Fifty-eight percent of women said they are more financially savvy than their spouse or partner, 67% report that becoming more knowledgeable and involved in managing finances made a difference in their quality of life, and 68% said they feel financially secure. 

NEXT: Turning to professionals for advice

On the other hand, the survey found 61% of women wish they were more confident about making financial decisions, and 63% wish they knew more about financial planning and investing.

Nearly two-thirds said that investment information can, at times, be overwhelming. Women’s two top financial worries are running out of money in retirement and managing the rising costs of health insurance.

This may be why 30% of women have turned to a financial professional for guidance. Among this group, 75% wish they had done so earlier. However, when meeting with their financial professional, 51% say they seem to defer to their spouse or partner as the principal decision-maker—and this phenomenon happens whether the financial professional is male or female.

Asked what financial advice they would give to their daughters or granddaughters, 81% said start planning early, rely on themselves rather than others for financial security (71%), create a good financial plan (72%), learn how to invest money (56%) and have the confidence to ask for the salary they deserve (56%).

The online survey was conducted among 1,416 women between the ages of 25 and 75 last October. To participate, their household income needed to be at least $30,000.

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