What was the challenge you faced?
A: We had a previous provider who had built portfolios for us with about £280 million invested and a shared mandate. After COVID-19 came along, the portfolios were not performing well, and when that happens, you need a relationship with the investment managers that helps support your clients. We felt that support was lacking and that our existing provider could have been more proactive with ideas for changes in strategy.
Another issue was the collateral they provided for our advisers, which was not easy to pass to our clients. Even the most sophisticated clients want information explained in terms they can understand.
So, we began to look for an alternative partner.
Why did you select SEI?
A: Obviously, you want to see evidence of investment performance and how this is created, but there's more to it than that. We wanted a real partnership with a company that understood the relationship between our investment committee, advisers, and most importantly, our clients.
Second, we wanted help for our advisers to explain to clients what was happening with their investments. That is essential for the client's trust in their adviser, and SEI was able to offer strong communication support. It sounds like a small thing, but their experts are eager to turn up in person to talk to our advisers.
What benefits have you seen from the relationship with SEI?
A: On average, across the various portfolios, there was about a 4% improvement in performance over the first year, and overall, our clients were £9 million better off.*
SEI has made us feel like equal partners in the relationship. They have made people available for education days and adviser briefings, and they have built strong relationships with our advisers.
Has there been a specific situation where SEI has been put to the test?
A: With Liberation Day and other factors, it's not been an easy market, and that has been an acid test for our partnership with SEI. They have helped our advisers stay informed and understand what is being done, so they could do the same for the end clients. When things get challenging, a lot of investment managers start to distance themselves. SEI did not do that.
How smooth was the process of setting up with SEI?
A: The scale of what we were doing was a challenge. We had hundreds of millions invested in the previous portfolios—you can't just wake up one morning, press a button and move that money. We had to give clients our advice and help them understand why we were doing this. SEI gave us significant support through that process, mainly in winning hearts and minds, and practical help in moving the assets.
We got it done in six months. It is extraordinary to move a whole investment book in an advised process in that time.
Has the relationship with SEI expanded?
A: The relationship has grown with ease. The initial pot was about £280 million; today SEI manages in the region of £500 million for us.**
And SEI has helped us grow our own business, attending events for existing and prospective clients, which has really helped us in the conversations. They understand that we are growing our business, and they have a role to play in that.
Have you lost any control by partnering with such a large group?
A: SEI is a major US-based company. We are a significant firm in our market, but we are obviously much smaller. So, there was a worry that we might be too small to make our voice heard. But that has not been the case.
Our investment management committee convene formally every quarter and informally about once a month. We compare notes and analysis, and there's been a real humility and refreshing openness from SEI to engaging with us at that level.
What has been the feedback from your advisors and your clients?
A: The advisers have been really pleased by their relationship with SEI. Part of that is the accessibility to the managers and the level of educational support they provide.
There are also a significant number of clients who want to hold investment managers to account, so, it's quite important for us to be able to co-present with the investment manager. With SEI, we have integrated communications—we've done live webinars, educational videos, LinkedIn communications, and client events. The materials are technically sophisticated but written in a language clients can understand.
We regularly survey clients, and they tell us they really like the access they get to SEI. Basically, our clients are telling us: "We think you made a good choice."
In their own words: Francis Clark's journey with SEI.
Watch the video to find out how Francis Clark transformed their investment strategy—and why their clients are £9 million better off.
This article is sponsored by SEI. Find out more about partnering with SEI for managed portfolio services here
Important information
This is a marketing communication.
*As of 14 May 2025.
**As of 31 July 2025.
Past performance does not predict future returns.
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