Trust Estate
SEI Says Clermont Trust USA Goes Live On Platform
SEI said that for years, access to robust, integrated platforms had been out of reach for those outside the larger organizations in the space.
Nasdaq-listed SEI, which provides investment processing and management, and investment operations solutions, has announced that Clermont Trust USA, an independent trust company serving family offices and HNW individuals globally, is live on the SEI Wealth PlatformSM (SWP).
The platform, which offers community banks and trust companies a variety of services, can be put to work quickly, allowing firms to swiftly transfer assets, enhance their technology and user experience, and gain operational efficiency.
“The SEI Wealth Platform gives us a powerful, end-to-end infrastructure and a broad set of capabilities that can grow alongside our business, helping us meet client needs quickly and at scale,” Bob Hogan, president and CEO of Clermont Trust USA, said.
“Whether it’s navigating complex wealth needs, adapting to a changing regulatory environment, or streamlining front-to-back-office operations, we know these challenges can only be solved with scalable, integrated solutions,” Hogan said.
SWP gives access to SEI’s tailored investment strategies and asset management tools to support them; an end-client portal and advisor views interactive access to customers’ financial information; reporting and analytics; business process outsourcing; and add-on services to support business growth.
Access to “robust, integrated platforms has largely been impeded by soaring technology costs and complex implementation models that cater to the larger end of the market,” Sanjay Sharma, global head of SEI’s private banking business, said.
As of December 31, 2024, SEI has around $7.1 trillion in assets on SEI’s wealth management platforms, with $1.3 trillion in assets on SEI Wealth Platform (SWP) and $1.1 trillion in assets custodied with SEI Private Trust Company (SPTC).
In July, SEI made a “strategic” investment in Stratos Wealth Holdings. Ryan Hicke, CEO, and Michael Lane, head of asset management and executive vice president, spoke to this publication about the rationale for the deal.