SEI rolls out upgrades to managed accounts program

The investment platform provider adds more SMA and UMA options, reduces costs, and boosts tax optimization tech for advisors.

SEI is taking its managed accounts solutions platform program to a new level with a host of updates.

The investment management and technology firm announced an expansion of offerings within its separately managed account and unified managed account catalog, with new managed account options from SEI and third-party managers.

Altogether, SEI’s shelf brings together investment expertise from more than 70 specialist managers and 120 mandates.

“Portfolio customization is key to meeting investors’ needs in today’s economic environment,” said Jim Smigiel, chief investment officer at SEI, highlighting his firm’s capabilities in “direct indexing solutions, factor strategies, and individual bond portfolio management.”

The wealth platform provider said it is also cutting costs for clients of its managed accounts business and rolling out technology updates to improve its tax optimization, which includes tax-aware trading and tax-loss harvesting.

With its technology enhancements, SEI said users will have on-demand access to in-depth reports and analytics, including an estimate of taxes saved or deferred through active management.

All in all, it said the enhancements will help advisors better address the needs of mass-affluent, high-net-worth, and ultra-high-net-worth investors.

“Financial advisors are constantly seeking forward-thinking ways to enhance their clients’ portfolios, while simultaneously optimizing tax efficiency,” said Erich Holland, head of client experience for SEI’s advisor business.

SEI is unveiling its updates against a backdrop of profound growth in the managed accounts space, with UMA assets rising 34 percent annually over the past five years and continued strong growth expected over the next four, according to Cerulli.

“We believe that SMAs and UMAs represent a paradigm shift in how financial advisors can deliver value to their clients,” Holland said.