Close Brothers Asset Management (CBAM) and SEI have agreed a platform technology partnership.
The deal includes the adoption of SEI Wealth Platform and SEI Data Cloud, a fully integrated technology, data and operational outsourcing solution.
CBAM said the partnership marks a move to deliver its strategic objectives and to be the best place in the UK for wealth management professionals and their clients.
It added that SEI was selected following a comprehensive, multi-stage selection process involving several providers.
SEI is a wealth platform technology provider and currently has contracts with several wealth companies, including Benchmark Capital, Brewin Dolphin and Evelyn Partners.
CBAM also announced that it will also adopt Objectway’s Portfolio Management Solution and outsource order-execution activities to Winterflood Business Services (WBS).
A number of CBAM employees will join SEI’s SWP operations team as part of the agreement.
CBAM’s chief operating officer, Gregg Clarke, said: “Our new partnership with SEI marks an important moment for CBAM. The adoption of the SEI Wealth Platform enables us to deliver on our growth strategy and expand upon our proposition while having complete confidence that high-quality service levels will be maintained for our clients.
“After a thorough selection process, it was clear that CBAM and SEI are both culturally and technologically aligned. SEI understands our business and is committed to partnering with us, alongside our new WBS and Objectway partnerships, to help us achieve our strategic objectives.”
Jim London, chief executive of SEI Investments Europe Limited, added: “We’re thrilled to partner with CBAM and to provide access to the full breadth of SEI’s integrated technology, data and operations solutions that can help them achieve their growth aspirations.”
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