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20 BANKS READY TO USE 'ASSIST,' SEI'S NEW FINANCIAL PLANNING SOFTWARE

 WAYNE, Pa., Sept. 21 /PRNewswire/ -- Starting this week, 20 banks will offer ASSIST, SEI's (NASDAQ: SEIC) new interactive financial planning tool, to customers, Rick Lieb, president of SEI Investment Services, announced today.
 After testing at Fleet Bank in Providence, R.I., and First Hawaiian Bank in Honolulu, SEI began to deliver this state-of-the-art software this week. Run on personal desktop or laptop computers, ASSIST streamlines the investment process for packaged investment products.
 Banks planning to use the new technology include Wells Fargo, CoreStates, Frost National (San Antonio, Texas) and Citizens Federal (Dayton, Ohio).
 According to Lieb, ASSIST supports banks and other advisors by: 1) analyzing customer profiles and goals; 2) customizing investment strategies with suggested asset allocations; 3) creating necessary documentation to close the sale; and 4) tracking sales and client contacts.
 ASSIST also provides benefits to the bank customer by customizing an investment program tailored to each individual's needs, resources and investment style. In addition, it allows the investor to examine various "what-if" scenarios by altering the recommended portfolio and assumptions, thus illustrating the impact various factors have on one's financial future.
 "Banks are becoming full financial services providers," said Lieb. "ASSIST enables banks to compete with mutual fund companies and brokerage firms in the consumer marketplace by increasing the investment planning capabilities of their sales forces." He said ASSIST ensures consistent service by bank branches through uniform methods for collecting and delivering information. It also fully automates account administration.
 The program was developed to provide easy bank customization. The result is that SEI can tailor ASSIST to meet specific bank needs. ASSIST supports various packaged investment products, including SEI's institutional mutual funds or a bank's proprietary mutual funds distributed by SEI. ASSIST also links with the ProVantage Funds, SEI's new retail family of institutional-quality funds launched last week and designed for use by banks, financial planners and other investment advisors. SEI's full range of 39 mutual fund portfolios currently has more than $18 billion under management.
 According to Lieb, ASSIST is the result of more than a year of extensive research and market-testing. The product is based on findings from focus groups, in-market testing, and other research with bank representatives and customers. ASSIST represents SEI's commitment to develop products based on the specific needs of clients and their customers.
 SEI provides technology, advisory and investment services to banks, institutional investors, trusts and other financial intermediaries and operates the country's largest money manager selection and placement practice. SEI also administers a wide array of investment funds, with over $38 billion currently under management.
 -0- 9/21/93
 /CONTACT: Jack May of SEI Investment Services, 215-254-2007, or Lisa Habernickel Baney of Donley Communications, 212-751-6126/
 (SEIC)


CO: SEI Investment Services ST: Pennsylvania IN: FIN CPR SU: PDT

TW-TS -- NY011 -- 4061 09/21/93 10:09 EDT
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Publication:PR Newswire
Date:Sep 21, 1993
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