SEI Enhances Technology Offering for Advisers

SEI Advisor Network’s new Service Delivery Initiative aims to help advisers with electronic proposal generation, statement and account level reporting, and transaction automation.

SEI said the enhancements create efficiencies that allow advisers to focus on building client relationships and increasing revenues at a time when many firms have been forced to cut expenses. The initiative was created based on feedback from SEI advisers.

As part of the new enhancements, SEI Proposal System v5.0 streamlines the proposal generation process, allowing advisers to develop and deliver professional client proposals within minutes, according to SEI. The system includes an upgraded client profiling function that incorporates criteria such as risk profiles and goal information.

SEI has also upgraded statements and performance reporting for investors, combining information and articulating “progress to goals” in a more investor-friendly format, the firm said. “This gives investors a better gauge on how they are doing relative to their goals compared to just traditional market indices as benchmarks,” the firm said.

Furthermore, SEI expanded online transaction capabilities through the Advisor Transaction Portal, focusing on improved workflows and broker/dealer approvals across multiple types of transactions.

SEI has already begun to implement many of the enhancements and plans a phased roll-out to its entire client base through the first quarter of 2010.