Fusion Wealth originally entered into discussions with SEI over a year ago. SEI first announced Fusion Wealth as a new business transition client in April on its first-quarter 2011 earnings conference call. Assets will convert to GWS over time.
According to SEI, its solution will offers bespoke platform configuration, legacy management, data migration to and from back office, third party products, and plan manager service to the high-end advisory market.
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SEI also said that Fusion Wealth’s current offering will now be combined with a new investment processing and trading solution powered by its GWS platform to create a fully integrated technology solution for premium adviser firms.
SEI will also offer its Global Wealth Platform (GWP) to enable Fusion Wealth to better manage its portfolios with complete control over client data, advance functionality around rebalancing, and tax harvesting.
The GWP technology will support Fusion Wealth’s proposition whilst allowing the firm to provide IFAs with expanded discretionary fund management services, said SEI.
Fusion Wealth chief executive Ian Cooke said: "We believe SEI has the pedigree and strength to deliver high service standards for the long term and is undoubtedly the right company to enhance our proposition. The GWS technology is a welcome addition to our unified technology suite and this will ultimately assist in increasing our market presence."
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