InvestEdge, Inc., a rapidly growing provider of wealth management solutions to large HNW and UHNW investment firms, recently signed an agreement with SEI (Nasdaq: SEIC), a leading global provider of outsourced asset management, investment processing and investment operations solutions, to offer its compliance monitoring tools through SEI’s solution.
Through this relationship, SEI will offer its bank investment processing clients the option of using the tools developed by InvestEdge, helping SEI’s clients to meet their compliance requirements in a more automated manner.
Most notably, InvestEdge’s web-based offering provides banks and trusts with workflow tools that simplify account reviews and reporting processes. The system equips firms to identify and prioritize accounts due for review, and then directs them through the approval process. All comments and actions taken throughout are documented and saved for auditing purposes.
The system includes an exception-based compliance engine for asset-level portfolio monitoring. Through daily compliance checks, it proactively analyzes portfolio holdings and allocations to ensure alignment with customer mandates, firm policies, and government regulations.
“One of our key reasons for partnering with InvestEdge is to continue to help our clients to transition compliance from a reactive event to a proactive process,” says David Campbell, Senior Vice President for SEI’s Private Banking Solutions. “The InvestEdge compliance system equips firms to automate Reg. 9 review processes and more closely monitor accounts via daily checks. We believe this will be a valuable addition to our solution for the bank and trust market.”
Bob Stewart, CEO of InvestEdge adds, “SEI holds a dominant position in the bank and trust market. Our relationship is a win for everyone involved. SEI’s clients will benefit from our industry proven compliance system, SEI is able to extend the value of its solution, and InvestEdge will greatly expand its reach into our core market. We’re very enthusiastic about where this will lead.”