SEI UK Private Banking announced that it has agreed to a seven-year extension of its contract with Fusion Wealth, the bespoke technology solutions provider for wealth managers and large-scale financial planners. The relationship between the two companies began in 2011, and since then Fusion has grown to support more than 30 wealth management firms and private banks, all of which are all powered by the SEI Wealth Platform.
Today’s announcement commits SEI and Fusion to work together until at least 2023, and keeps Fusion on course to continue rapid growth of its Assets Under Management (AUM) which currently stand at almost £2bn. The SEI Wealth Platform provides integrated wealth-management infrastructure for Fusion’s growing client base to actively manage their customers’ portfolios.
Brett Williams, Managing Director, SEI Wealth Platform, UK Private Banking, said, “The wealth management industry is changing extremely fast, meaning more and more firms are partnering with businesses that have institutional capabilities and can keep pace with complex legislation and regulations. The relationship with Fusion is a true partnership and we have enjoyed a close working bond with the Fusion team over the past four years. We are pleased to have the commitment to extend the contract until at least 2023. Our combined approach provides a powerful offering, which allows individual wealth management firms to focus on developing their proposition and service.”
Ian Cooke, Chief Executive, Fusion Wealth, added, “We are delighted to extend our contract with SEI for a further seven years. Our partnership with the business has been instrumental to our continued rapid growth and has given us the opportunity to deliver a completely seamless end-to-end proposition to our clients. As partners, SEI and Fusion are committed to future innovation and we look forward to continuing to work together to provide the best possible solution for our clients.”