Oaks, Pa.-based fintech SEI has launched a new alternative investment marketplace aimed at wealth managers and financial advisors.
Part of SEI Access, the new digital marketplace and educational forum lets users research strategies and funds. It also includes subscription processing functionality, allowing advisors to buy funds from the marketplace via electronic subscription documents, proprietary firm paperwork, custodian forms and e-signature tools.
SEI is also attempting to leverage its position as a major administrator of U.S. private assets. As of Dec. 31, 2024, SEI Access has processed more than $4.9 billion in alts transactions
“SEI Access not only provides automated processing power, but it will deliver wider access to in-demand alternative investments, increased transparency and robust educational tools to help advisors make confident, personalized financial decisions that align with their clients’ wealth goals,” Kevin Crowe, SEI senior vice president and head of SEI Access, said in a statement.
SEI’s marketplace includes products from Constitution Capital Partners, Golub, Neuberger Berman, OpenVC, StepStone Group, Tall Trees Capital Management, Cantor Fitzgerald, Capital Square, InvestX and others.
It also builds upon SEI’s December 2023 acquisition of Altigo, a cloud-based technology platform that provides inventory, e-subscription and reporting capabilities for alternative investments.
As of Dec. 31, 2024, SEI Access supports more than 250 wealth management firms and 165 fund managers, providing access to approximately 300 alternative investment funds.
The move follows SEI’s December acquisition of LifeYield, a tax optimization software company. That deal was intended to provide SEI and its client advisory firms with real-time, automated, unified managed household capabilities.
A few months prior, SEI launched SEIGPT, its new framework for building generative AI applications.
SEI’s move comes amid a flurry of announcements of news from alts platforms. Last week, CAIS announced a new leadership structure naming Tim Shannon and Brad Walker as co-presidents of the company. That followed its announcement of a new capability to let advisors integrate and manage alternative investments within third-party turnkey asset management platforms and managed account platforms.
In other news, LPL Financial launched LPL Alts Connect, a full-service platform where advisors can research, purchase and manage alternative investments.
Meanwhile, InvestCloud, a tech provider for the advisory and wealth management market, announced alternative asset manager Apollo Global Management as a founding partner in InvestCloud’s Private Markets Account Network, an initiative combining public and private assets within a single platform.
In addition, Apex Fintech Solutions announced it was launching Apex Alts, a platform for managing alternative investments, with a planned start toward the tail end of the second quarter.
Lastly, Addepar, a technology platform provider to RIAs and wealth managers, announced the launch of several new toolsets and features, including Alts Data Management, Private Fund Benchmarks, and cash flow forecasts within Navigator.