SEI Renews Relationships With Three Wealth Management Firms to Provide Wealth Processing Services

Long-Term Relationships Allow Wealth Management Firms to Simplify Business

OAKS, Pa., Dec. 14 /PRNewswire-FirstCall/ -- SEI (Nasdaq: SEIC) announced today that it has renewed multi-year agreements with three long-time clients to provide outsourced back-office investment accounting and processing services, as well as outsourced wealth management solutions. These services are wrapped around a full suite of browser-based applications for private client account access, administration, investment management and open architecture tools.

"The duration and success of these relationships validates SEI's focus on helping our clients to grow their business," said Al Chiaradonna, Senior Vice President for SEI's Private Banks segment. "By choosing to outsource back- and middle-office functions to SEI, these wealth management firms are better positioned to concentrate on client-facing activities. These long-time clients are true partners to SEI and we appreciate their confidence in us; just as we look forward to propelling their growth into next-generation wealth management firms."

    --  Franklin Street Financial Partners - provides investment management and
        fiduciary services and has approximately $2 Billion in assets under
        management. An SEI client since 2002.
    --  Pennsylvania Trust - provides investment management and fiduciary
        services for individuals, families, and institutions and has more than
        $1.4 Billion in assets under management. An SEI client since 1996.
    --  WoodTrust Bank - one of the largest privately owned, full service
        financial institutions in central and northern Wisconsin, serving over
        $1.2 billion in client assets. An SEI client since 2000.

"Partnering with SEI for the last nine years has allowed us to simplify our business model and place our focus on value-added activities," said Chad Kane, President and Chief Operating Officer of WoodTrust. "SEI's extensive knowledge of our business and long-term commitment to the wealth management industry makes them a reliable and valuable partner for us well into the future."

About Franklin Street Financial Partners

Franklin Street Partners provides complete investment and wealth management solutions for institutions, families and individuals. To learn more about Franklin Street Partners, visit FranklinStreetPartners.com.

About Pennsylvania Trust Company

Founded in 1986, Pennsylvania Trust provides investment management and fiduciary services for individuals, families and institutions including private foundations and endowments. Their team of experienced professionals is responsible for the management of over $1.4 billion in assets.

About WoodTrust Bank

WoodTrust Bank began operations in Wisconsin Rapids in 1891 and now serves over $1.1 billion in client assets. The company is one of the largest privately owned, full service financial institutions in central and northern Wisconsin, with total assets of $330 million. In addition to business and personal banking services, WoodTrust Bank offers comprehensive investment management, trust, retirement plan, and estate planning services across the United States, with over $900 million in assets under management.

About SEI's Private Banks Segment

SEI's Private Banks business segment delivers investment management and wealth processing services through its Global Wealth Services solution to private banks and wealth management organizations. SEI enables wealth managers to meet the rapidly evolving business and investment needs of their clients by helping them grow and protect revenue, minimize cost and allocate capital effectively, enable risk management and help manage transformation. SEI's solutions are used by over 290 clients in 9 countries. For more information, visit http://www.seic.com/banks.

About SEI

SEI (Nasdaq: SEIC) is a leading global provider of outsourced asset management, investment processing and investment operations solutions. The company's innovative solutions help corporations, financial institutions, financial advisors, and affluent families create and manage wealth. As of September 30, 2009, through its subsidiaries and partnerships in which the company has a significant interest, SEI administers $383 billion in mutual fund and pooled assets and manages $156 billion in assets. SEI serves clients, conducts or is registered to conduct business and/or operations, from numerous offices worldwide. For more information, visit www.seic.com.

SOURCE SEI

Released December 14, 2009