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SEI Restructures Advisor Business

By Janet Levaux

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What You Need to Know

  • The development follows the TAMP's March 31 acquisition of Oranj’s technology platform.
  • Oranj CEO David Lyon and 13 other key employees have joined SEI.
  • SEI's advisor business works with about 7,500 advisors and $77.4 billion in AUM.

Financial services provider SEI has reorganized its advisor business, including shifts and additions to the management team that lead its turnkey asset management program.

The development follows its March 31 acquisition of Oranj’s platform, which focuses on digital collaboration tools for advisors and clients. As part of that deal, Oranj CEO David Lyon joined SEI, as did 13 other key employees.

“Financial advisors are experiencing a time of tremendous transformation,” said Wayne Withrow, head of SEI’s Independent Advisor Solutions, in a statement. “We’ve undergone our own transformation, bringing together powerful technology, investment flexibility and practice management into a singular, robust offering that’s backed by a team of experts helping advisors succeed.”

Leaders of the new management team and their respective business units are:

  • Erich Holland, Distribution & Engagement; 
  • Stephen Onofrio, Advisor Sales & Relationship Management;
  • J. Womack, Investment Products & Personalization;
  • Allie Carey, Digital Experience & Collaboration; and
  • John Anderson, Practice Management 

“Just as advisors must keep investor needs at their core, we must keep advisors’ needs at ours. By reorienting our business and approach to their shifting needs in a rapidly-changing world, we can better connect with and serve the advisor community,” according to Holland.

SEI’s advisor business works with about 7,500 advisors and $77.4 billion in assets under management (as of March 31). In February, the firm launched a series of core portfolio strategies that let investors worth with advisors to buy subsets of individual stocks within broad market indexes.

Janet Levaux

@Think_JanetL

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