The agreement shows a shared commitment to the 22-year partnership between the two organisations, notably supporting Bar Harbor Wealth Management’s development and extended client offering through the SEI Wealth PlatformSM and BPO solution.
Furthermore Sanjay Sharma, head of SEI’s private banking and wealth management business, commented: “As the wealth management industry continues to grow and change, an organisation’s technology infrastructure and operational strength is critical to helping them revolutionize how they manage and grow, embrace change and solve problems with confidence, and protect the next generation of their business and clients.
“Our longstanding strategic partnership evolved from delivering a technology-only solution to Charter Trust to supporting the trust and wealth management consolidation into Bar Harbor Wealth Management. By their side throughout this evolution, we helped them to increase operational efficiency by moving from multiple legacy platforms to a single, unified infrastructure to help drive their strategic business growth objectives. We look forward to building upon our relationship as we work together to power the future of wealth.”
Jason Edgar, president of Bar Harbor Wealth Management, added: “Through the rapid transformation of our business, SEI has been a strategic partner in helping us meet our mission of delivering consistent service to clients. We are pleased to extend our strategic partnership as we continue to meet our clients’ wealth management needs through our full suite of solutions.”
SEI provides investment and technology solutions that connect the financial services sector, and as of 30 June, 2023, it controls, advises, or manages approximately $1.3trn in assets.
Bar Harbor Wealth Management, a subsidiary of the bank, offers a range of wealth management services.
To complement the Company’s full service financial solutions for its clients, Bar Harbor Financial Services (a division of Infinex Investments, Inc.) runs as an independent third-party brokerage business.