SEI Report: Majority of Investors Prefer Online Communication to Face-to-Face Meetings

Research Reveals 'Ability to Filter 'White Noise' of Investment Markets' as Key Differentiator for Investors Choosing Advisors

OAKS, PA -- (MARKET WIRE) -- 10/24/11 -- According to research released today by SEI (NASDAQ: SEIC), entitled Communication in the Information Age, while nine out of 10 (92 percent) wealth managers still regard face-to-face meetings as the most important communication method, the large majority of investors want to receive communications electronically. Among private wealth clients, 82 percent said they would prefer to have access to their financial statements online. Additionally, respondents indicated they want a communication strategy based on straightforward, focused, and relevant information; overwhelmingly, investors choose their wealth advisor, at least in part, for their ability to filter the "white noise" that permeates the investment markets.

Wealth managers have made strides in providing investors with easy-to-understand information, and the industry scores high points for its personal communications, both with face-to-face meetings and on the phone. However, wealth managers are not meeting investors' increased expectations for online reporting. While half of the investors polled want their wealth management firm to upgrade their systems to support a broader, more interactive online relationship, only 4 percent of wealth managers indicated online communication, via a web portal, as a priority. Even more surprising in today's digital age, only one in three (33 percent) wealth managers indicated email communication as a priority.

"In the constant war for innovation, firms that invest in technology will respond better to ever-changing client needs," said Jim Morris, Senior Vice President for SEI's Global Wealth Services. "Market-leading, collaborative, accessible technology will help position wealth advisors as agile enough to embrace these changes. These firms -- and their advisors -- will be the winners of the future."

The paper also found investors want more targeted communications, as three-quarters of the investors polled cited the lack of targeted product communication as a negative theme. Overall, they expect the wealth management industry to empower them by providing them with the means to access information and services how and when they want -- and they recommend that wealth managers take cues from Apple, Google, and Amazon in reforming their communication strategies.

The findings are part of the latest SEI global study entitled Communication in the Information Age, which explores the value clients place on the dialogue they have with their wealth advisors and the importance of innovative communication strategies that enable open-channel communication.

The report is the final paper in a series of five topic-of-interest papers exploring the changing relationships between wealth managers and clients. The findings are the result of in-depth interviews comparing the views of 250 private clients and wealth management providers, including banks, independent trust companies, and investment advisors. For a full version of the report and copies of the four previously released papers, published by SEI in collaboration with Scorpio Partnership, please visit www.seic.com/communicationus or contact seigws@seic.com.

About SEI's Global Wealth Services
SEI's Global Wealth Services is an outsourcing solution for wealth managers encompassing wealth processing services and wealth management programs, coupled with business process expertise. The integrated offering aims to provide wealth management organizations the infrastructure, operations and administrative support necessary to capitalize on their strategic objectives in a constantly shifting market.

About SEI
SEI (NASDAQ: SEIC) is a leading global provider of investment processing, fund processing, and investment management business outsourcing solutions that help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of September 30, 2011, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $395 billion in mutual fund and pooled assets or separately managed assets, including $151 billion in assets under management and $244 billion in client assets under administration. For more information, visit www.seic.com.

Source: SEI

Released October 24, 2011