Financial services technology firm SEI has chosen Cofunds to provide dealing, settlement and sub-custodian services in support of its Global Wealth Services unit.

“We’ve worked closely with SEI to deliver a solution that adds value to both parties. Cofunds’ institutional service provides a fundamental and effective solution. Services like contractual net settlement, efficient asset transfer and liaison with fund group administration ease the administrative burden, and thanks to the added efficiency, enable clients like SEI to focus on their core activities,” said Christopher James, head of Cofunds’ institutional service.

Cofunds said it has been actively engaging with many different types of business recently.

“The major driver for us, as always, is to be able to provide premium levels of service to more effectively support our growing client base. Our relationship with Cofunds is a great example of how organisations can collaborate to create solutions that are mutually beneficial to our respective strategic objectives,” said Ryan Hicke, managing director of UK Global Wealth Services at SEI.

Cofunds is an investment platform for advisors and other financial institutions, with assets under administration of some £33 billion (approximately $54.2 billion), as at 1 July 2011.