Cavanagh Group, the AIM-listed IFA, has selected SEI to support its expansion strategy and transform the firm's business model in the run-up to the RDR.
The IFA, which has £1.5m AUM, has chosen SEI's wealth management offering as it looks to consolidate its client proposition and establish a foundation for future growth.
In particular, SEI's global wealth platform will support its expansion strategy by providing a scaleable, repeatable acquisition model for new businesses and a conversion plan for existing client assets.
"In the current wealth management landscape, IFA solutions are generally limited and unable to support large businesses," says Joseph Ujobai, executive vice president, SEI's private banks segment.
"The move by Cavanagh to this new wealth management model shows the importance of forming a strategic partnership for future growth. SEI is able to offer a more streamlined process that will significantly promote growth."
He adds the link-up with SEI will help Cavanagh manage regulatory issues and improve its leadership credentials in the post-RDR world.
The Cavanagh Group CEO Andrew Fay says traditional IFA solutions were not appropriate for the firm given its large size.
"A key factor in the decision to appoint SEI was our shared visions," he says. "Their innovative solutions are distinctly aligned to our growth ambitions. SEI recognises the importance of scale in systems and processes and through the partnership with them we are able to support enhancements to the service we offer our clients."
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