The full launch of the platform has been planned for the first quarter of 2013.
"We are significantly upgrading the functionality and the capabilities of the administrative and operational platform," AdvisorOne quoted Steve Onofrio, managing director at SEI as saying.
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He further added "It’s different in the industry because all of the solutions available to independent advisors today don’t have an integrated custody platform as well."
Regarding the platform Onofrio said that it will have integrated portfolio management and rebalancing systems, an automated fee system, apart from producing performance reporting statements, which will ultimately leqad to advisors spending more time with their clients.
The platform is also fully unified, equipped with household capabilities, as opposed to taking an account-based approach, which Onofrio termed as "household-centric or model-centric."
While the firm will begin transitioning more advisors to the platform at the end of 2012, Onofrio expects the entire client base to be upgraded to the new system gradually over the first quarter of 2013.
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