View more on these topics

Tilney and SEI extend platform deal for six years

Tilney will use the SEI Wealth Platform as the default option for new clients

Hall-Peter-Tilney Bestinvest-2014-700x450.jpg
Tilney chief executive Peter Hall

Tilney Group has extended its contract with SEI Wealth Platform for a further six years.

The new agreement will end in December 2023.

The two companies have already worked together for the past six years.

Tilney chief executive Peter Hall says the business conducted a review where it considered a “range of different options” at the beginning of the year.

He says: “It is extremely important for us to have a strategic partner as our platform provider who invest strongly in leading-edge technology and who we trust to support us proactively in delivering the highest level of service to our clients.”

Hall adds: “We have worked with SEI for a number of years and they support us across our full range of services from the Bestinvest online investment service through to the Tilney advised offering.”

The agreement includes a commitment from Tilney to use the SEI Wealth Platform as the default option for future new clients.

However, Hall says legacy clients will not be moved. Tilney’s other primary platform Bank of New York Mellon-owned Pershing.

He says: “This is around new business and we do have some legacy clients on other platforms. We don’t currently have a plan to move them. It can be disruptive to a client to change a platform or custodian and our primary consideration is always to offer the highest level of service without disruption.”

SEI Wealth Platform managing director Brett Williams calls the agreement a “strong statement”.

He says: “We are delighted to have extended our partnership and contract with Tilney. They have grown the business both organically and through acquisition and Towry, one of their latest acquisitions, was also a client of ours.”

Williams adds: “From our point of view it is a strong statement that we have worked in partnership and we are carrying on doing that as Tilney and ourselves grow our businesses.”


Platforum head of intermediary research Miranda Seath

Powering the platforms: Enlisting in SEI’s ‘platform bootcamp’

This week’s look at the technology behind the platforms focuses on SEI, the Philadelphia-based firm that powers True Potential, Fusion and Towry’s offerings in the UK. SEI’s model and approach differs from the technology firms powering the adviser wrap platforms: Bravura, FNZ, GBST and IFDS. It is familiar to many because of its trading, custody […]


SEI Wealth Platform flows up 30%

SEI Wealth Platform has seen a 30 per cent year-on-year growth in inflows in the UK compared to the first half of 2015, but is still hunting more growth. According to the company’s most recent earnings results, published today, UK net flows reached £1.6bn in first half of 2015. The largest part of the growth came […]

Hall-Peter-Tilney Bestinvest-2014-700x450.jpg

Tilney assets double as acquisitions boost coffers

Tilney saw its assets under management and revenue more than double last year on the back of major acquisitions. Assets were up 138 per cent and revenues up 209 per cent, boosted by the acquisitions of Ingenious Asset Management and Towry Group, which completed in April and July respectively. Assets under management were £22.4bn in 2016 […]

Hall-Peter-Tilney Bestinvest-2014-700x450.jpg

Tilney Bestinvest eyes regional acquisitions after Towry deal

Tilney Bestinvest chief executive Peter Hall says the company will not seek any other large-scale acquisitions after its takeover of Towry, instead looking for regional deals. Tilney Bestinvest is to acquire Towry for £600m, buying the entire company, including Palamon Capital Partners’ majority stake and shares owned by Towry staff. The combined business will have […]

Singapore cover image - thumbnail

White paper — Singapore International Insights

Jelf Employee Benefits assesses key trends within the international private medical insurance provision of organisations with employees in Singapore. Benefit structure, cost management and healthcare facilities are examined and key considerations are highlighted. This edition will be of particular interest to global human resource directors and benefit managers with local and expatriate populations in Singapore.


News and expert analysis straight to your inbox

Sign up


    Leave a comment