SEI has announced that Thrivent Trust Company (Thrivent Trust) will adopt the company’s fully integrated wealth management solution, the SEI Wealth Platform (the Platform).
The Platform, which integrates wealth processing and wealth management services in a single-infrastructure solution, will enable Thrivent Trust to manage the entire client life cycle within an easily-accessible and holistic environment.
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This partnership demonstrates the momentum the Platform has gained nationally, as Thrivent Trust is the seventh US wealth management firm to select the Platform. As previously announced, two US banks have converted to the Platform this year and there are five firms (including Thrivent Trust) to be installed through 2014.
SEI first announced Thrivent Trust during its second-quarter 2013 corporate earnings conference call.
Thrivent Trust Company, a wholly owned subsidiary of Thrivent Financial, delivers a wide range of trust and wealth management services to Thrivent Financial’s members.
A new client to SEI, Thrivent Trust will bring its 1,500 accounts and more than US$600 million in assets onto the Platform.
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By GlobalDataJesse Ostrom, president and CEO, Thrivent Trust Company, said: "The SEI Wealth Platform was the clear choice for our company. SEI’s commitment to building the next generation wealth platform was very attractive to us, and we believe Thrivent Trust’s partnership with SEI will help create even more efficiency within our business model."
By adopting the Platform, Thrivent Trust will gain a high-tech proposal generation and wealth management CRM capability. Integrated within Thrivent Trust’s core platform, these tools are designed to help increase efficiencies and strengthen the support for the company’s national business development team.
The Platform’s transparent and scalable model will also enable Thrivent Trust to seek to further enhance productivity across its middle office, compliance management, and portfolio management services.
Al Chiaradonna, senior vice president, SEI Wealth Platform, said: "We couldn’t be happier to partner with Thrivent Trust. Their goals align perfectly with the complete SEI Wealth Platform offering, from investment and back-office core processing services to wealth management and client services solutions. The Platform is designed to help organizations like Thrivent Trust improve productivity across all levels through a solution that supports every stage of client service. We look forward to helping them as they continue to grow and evolve."
