SEI has announced that 2009 was a year of positive business growth for the SEI Advisor Network. The SEI Advisor Network signed on 250 new Registered Investment Advisors, increased assets under management to nearly $30 billion and generated $4.5 billion in new receipts, the US firm said yesterday.

The number of new advisors that joined SEI represents a more than 40 per cent increase from 2008.

"The market has made it clear that the breadth of our offering - including our expanded practice management capabilities - continues to be the right solution for many advisors," said Wayne Withrow, Executive Vice President for the SEI Advisor Network.

SEI provides turnkey wealth management services to more than 6,000 financial advisors.

The SEI Advisor Network has been serving the independent financial advisor market for more than 16 years, has more than 6,000 advisors who work with SEI, and more than $29.7 billion in advisors' assets under management (as of Dec. 31, 2009).