SEI has launched SEI ProcessWise, a comprehensive workflow program to help advisers streamline client interactions, sales, marketing, and practice management tasks.
With 48 step-by-step workflow processes across multiple business functions, SEI ProcessWise can be integrated with a firm’s CRM system providing staff members with automatic notifications to complete their assigned tasks.
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Through a partnership with Redtail Technology, SEI has preconfigured all of the workflows within the Redtail CRM platform to enable this integration for advisors using that CRM.
The program is being launched as advisors face increasingly complex client relationships and ongoing industry consolidation making it more important for firms to create standardized processes in order to drive value.
With a wide assortment of workflows and the added power of integration and automation, SEI ProcessWise provides the benefits of a highly-customized solution at a significantly lower cost.
While the workflow processes and the integration are complimentary, the program also includes three months of training designed to ensure that advisors adopt the automated workflows into their daily routines at a nominal cost.
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By GlobalDataSEI Advisor Network managing director Raef Lee said: "Despite the fact that they know they need to have workflows and systemized processes, most advisors simply don’t have the time it takes to develop their own or the resources to have someone else come up with a custom solution. We believe we’ve come up with a solution that can be used across most aspects of an advisor’s business. By utilizing these workflows, advisors will ultimately deliver more value to the client experience and increase their firm’s value at the same time."
Redtail CEO Brian McLaughlin added: "The collaboration between Redtail and SEI creates one of the deepest levels of workflow integration in the industry. With these preconfigured processes, advisors can be confident that they will stay on top of important tasks thereby providing an enhanced and consistent experience to their clients. That’s really key to maintaining and building positive client relationships."
A SEI survey found that more than half (54 percent) of advisors have yet to adopt workflow processes.
Meanwhile, more than half of advisors who claim to have workflows in place actually rely on memory, post-it notes, to-do lists, or travelling checklists to implement tasks.
