United States : SEI Expands Its Footprint in Family Office Services Arena With Acquisition of Archway Technology Partners.
SEI today announced it has acquired Archway Technology Partners, LLC, (Archway) a major provider of operating technologies and services to the family office industry and the institutions who service that market. The move further establishes SEI as a leading player in the family office segment, addressing additional verticals, including institutions, investment advisors, private banks, hedge funds, and private equity funds.
This announcement represents a modest shift in SEIs long-held belief in purely organic growth. We believe there is value in growing through carefully considered strategic acquisitions that add to our expanding geographic footprint, market reach, platform functionality and expertise, said Alfred P. West, Jr., Chairman and CEO of SEI. Archways stellar reputation in the family office industry, market-leading solutions, and talented, client-oriented employees make them a valuable addition to SEI, and we look forward to welcoming the Archway team into our culture and company.
Archways specialized technologies and deep knowledge of the private wealth services industry give us a more powerful, differentiated solution to a $7 trillion global family-office market that has been underserved by legacy service providers, said Steve Meyer, Executive Vice President of SEI and Head of SEIs Investment Manager Services division. SEIs operating solutions, enhanced by Archways capabilities, will help family offices, institutions, wealth managers, and asset owners better navigate this new operational frontier and service their clients more effectively.
The acquisition expands SEIs position to become the market leader in the single and multi-family office services arena, a segment in which Archway had been the dominant service provider. Archways reputation for its innovative technology and next-generation solutions were recently recognized by industry participants by winning in three categories at the 2017 Family Wealth Report Awards.
Joining SEI will help us provide the next level of institutional-quality, state-of-the-art solutions to the family office and wealth management marketplace, said Jason Brown, CEO of Archway. SEIs market focus and commitment to the broader asset management segments aligns directly with, and is uniquely complementary to, our focus on providing services to the family office, high-end wealth advisory, and institutional wealth management segments. Our two organizations also share a strong service ethic and culture of innovation that are perfectly suited to our unique and demanding client base. We are excited to be a part of the SEI family and look forward to the expanded opportunities that lie ahead for our combined organization.
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