Washington Trust Bank’s Wealth Management & Advisory Services will adopt SEI’s fully-integrated wealth management solution, SEI Wealth Platform.
Washington Trust Bank is the first US-based, non-renewal client to sign on with SEI’s platform.
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Under the multi-year agreement, Washington Trust Bank will have access to SEI’s end-to-end, open-architecture solution that supports all stages of the client relationship, including front-, middle-, and back-office processing services.
When the conversion is complete, Washington Trust Bank will have 2,100 accounts and over US$3 billion in assets under administration on the platform, according to SEI.
Robert Blume, managing director of wealth management and advisory services at Washington Trust Bank, said: "The SEI Wealth Platform provides us with a single infrastructure that we know will help us streamline our systems and eliminate many manual data and compliance processes.
"Furthermore, their superior functionality is going to give us a significant advantage in the front office, which will allow us to strengthen our client relationships. We couldn’t be happier to announce this partnership," added Blume.
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