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SEI Investments (SEIC) Spurs AI Adoption in Wealth Business
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SEI Investments Company (SEIC - Free Report) has invested $10 million in TIFIN, a leading force in AI-driven wealth management innovation. This strategic partnership is poised to reshape the landscape of wealth management through rapid exploration, market innovation access and talent development.
The collaboration between SEIC and TIFIN has the potential to expedite the delivery of innovative solutions to market challenges. By swiftly evaluating and testing new ideas, both entities can capitalize on promising opportunities, ensuring that cutting-edge solutions are readily available to meet evolving client needs.
The partnership provides SEI Investments with unparalleled access to market innovation. By engaging with TIFIN's expansive financial services ecosystem, the company will gain insights into best practices, resources and the latest advancements in AI and wealth technology. This will ensure that SEIC remains at the forefront of industry trends and is equipped to anticipate and respond to market shifts effectively.
Talent development is another key aspect of this partnership. With access to TIFIN's pool of talent in emerging technologies and externship programs, SEI Investments intends to empower its workforce with the skills needed to thrive in an increasingly AI-driven landscape.
Sneha Shah, Head of New Business Ventures at SEI Investments, emphasizes the importance of strategic partnerships during times of rapid change. She said, “The industry is changing faster than ever, and it likely won't slow down in the future. Like many emerging trends, AI has tremendous potential to disrupt financial services, as well as accelerate opportunity, access, and impact.”
Vinay Nair, founder and CEO of TIFIN, echoes similar sentiments, highlighting the synergies between the two organizations and their shared vision for the future of wealth management. He noted, SEIC and TIFIN together have the scale, distribution and expertise to drive meaningful change in the industry, delivering personalized advice and investment products to a broader audience.
Conclusion
SEIC's investment in TIFIN marks a significant step forward in the pursuit of innovation and growth in the wealth management space. Through this strategic partnership, the company is poised to leverage the power of AI to enhance client experiences, drive business growth and shape the future of the industry.
Last December, in order to expand in the alternative investments space, SEI Investments acquired Altigo. Altigo is a cloud-based technology platform that provides inventory, e-subscription and reporting capabilities for alternative investments.
Through such inorganic expansion efforts, SEIC is striving to bolster market share and align with ever-changing customer needs.
Over the past three months, shares of SEI Investments have rallied 15%, underperforming the industry’s 18.9% growth.
Earlier this month, LPL Financial Holdings (LPLA - Free Report) announced plans to acquire Atria Wealth Solutions, Inc. This move underscores the company’s commitment to expanding its reach and enhancing its offerings in the wealth management solutions market.
The acquisition aligns with LPL Financial's goal to empower independent financial advisors and institutions nationwide by providing them with comprehensive support and resources. The agreement involves acquiring Atria Wealth Solutions’ broker-dealers, which include subsidiaries catering to both independent financial professionals and banks/credit unions.
Last month, Franklin Resources, Inc. (BEN - Free Report) completed the acquisition of Putnam Investments, a global asset management firm, from Great-West Lifeco. Putnam had $142 billion (excluding PanAgora) in assets under management (AUM) as of November 2023.
The transaction is expected to accelerate BEN’s expansion in the retirement space by increasing its defined contribution AUM to more than $100 billion. The deal results in the addition of target date fund ranges. Further, it adds complementary investment capabilities in areas of stable value, ultra-short duration and large-cap value.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
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SEI Investments (SEIC) Spurs AI Adoption in Wealth Business
SEI Investments Company (SEIC - Free Report) has invested $10 million in TIFIN, a leading force in AI-driven wealth management innovation. This strategic partnership is poised to reshape the landscape of wealth management through rapid exploration, market innovation access and talent development.
The collaboration between SEIC and TIFIN has the potential to expedite the delivery of innovative solutions to market challenges. By swiftly evaluating and testing new ideas, both entities can capitalize on promising opportunities, ensuring that cutting-edge solutions are readily available to meet evolving client needs.
The partnership provides SEI Investments with unparalleled access to market innovation. By engaging with TIFIN's expansive financial services ecosystem, the company will gain insights into best practices, resources and the latest advancements in AI and wealth technology. This will ensure that SEIC remains at the forefront of industry trends and is equipped to anticipate and respond to market shifts effectively.
Talent development is another key aspect of this partnership. With access to TIFIN's pool of talent in emerging technologies and externship programs, SEI Investments intends to empower its workforce with the skills needed to thrive in an increasingly AI-driven landscape.
Sneha Shah, Head of New Business Ventures at SEI Investments, emphasizes the importance of strategic partnerships during times of rapid change. She said, “The industry is changing faster than ever, and it likely won't slow down in the future. Like many emerging trends, AI has tremendous potential to disrupt financial services, as well as accelerate opportunity, access, and impact.”
Vinay Nair, founder and CEO of TIFIN, echoes similar sentiments, highlighting the synergies between the two organizations and their shared vision for the future of wealth management. He noted, SEIC and TIFIN together have the scale, distribution and expertise to drive meaningful change in the industry, delivering personalized advice and investment products to a broader audience.
Conclusion
SEIC's investment in TIFIN marks a significant step forward in the pursuit of innovation and growth in the wealth management space. Through this strategic partnership, the company is poised to leverage the power of AI to enhance client experiences, drive business growth and shape the future of the industry.
Last December, in order to expand in the alternative investments space, SEI Investments acquired Altigo. Altigo is a cloud-based technology platform that provides inventory, e-subscription and reporting capabilities for alternative investments.
Through such inorganic expansion efforts, SEIC is striving to bolster market share and align with ever-changing customer needs.
Over the past three months, shares of SEI Investments have rallied 15%, underperforming the industry’s 18.9% growth.
Image Source: Zacks Investment Research
Currently, SEIC sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Asset Managers Taking Similar Steps
Earlier this month, LPL Financial Holdings (LPLA - Free Report) announced plans to acquire Atria Wealth Solutions, Inc. This move underscores the company’s commitment to expanding its reach and enhancing its offerings in the wealth management solutions market.
The acquisition aligns with LPL Financial's goal to empower independent financial advisors and institutions nationwide by providing them with comprehensive support and resources. The agreement involves acquiring Atria Wealth Solutions’ broker-dealers, which include subsidiaries catering to both independent financial professionals and banks/credit unions.
Last month, Franklin Resources, Inc. (BEN - Free Report) completed the acquisition of Putnam Investments, a global asset management firm, from Great-West Lifeco. Putnam had $142 billion (excluding PanAgora) in assets under management (AUM) as of November 2023.
The transaction is expected to accelerate BEN’s expansion in the retirement space by increasing its defined contribution AUM to more than $100 billion. The deal results in the addition of target date fund ranges. Further, it adds complementary investment capabilities in areas of stable value, ultra-short duration and large-cap value.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.