Premier Asset Management has outsourced the back-office support for its private client portfolio discretionary fund management service to the SEI global wealth services platform.
SEI’s global wealth service combines admin and investment processing functions such as portfolio rebalancing with technol-ogy. Premier chose it on the basis of its experience and ability to handle Premier’s plans for aggressive growth of its DFM service.
The Premier private client portfolio service comprises 10 risk-graded portfolios, each with a minimum investment of £50,000. They invest entirely in a selection of seven Premier funds of funds, which comprise a portfolio of third-party funds to provide exposure to a range of asset classes such as cash, corporate bonds, equities and structured products.
Premier had asked an independent consultancy to research platforms in the wealth management market and SEI was found to be the best in terms of the technology and services provided.
The DFM provider also feels that SEI is a good match in that it understands Premier’s business approach and the value it places on standards of service.
Premier managing director of operations Mark Friend says: “The SEI service is a platform on which we can aggressively grow our business. It will deliver its service in line with our business needs as we grow.”