SEI Wealth Platform saw a 30 per cent year-on-year growth in inflows last year, compared to 2014.
According to the company’s results, published today, UK net flows from existing clients reached £3.3bn for the full year of 2015, up by more than £1bn one year ago.
“The 30 per cent increase of inflows from existing clients is very positive especially in a quite mixed year,” says Brett Williams, SEI Wealth Platform managing director for UK private banking.
In particular, the firm saw “a great Isa season” in 2015.
Williams says: “We now have over 100,000 Isas on our platform and we anticipate another good Isa season in 2016. This activity is helping to create a positive outlook for those operating in the wealth management space.”
Assets under administration increased from £21.7bn to £25.2bn over the year, with the number of end clients using the platform growing from 162,000 to 197,000.
“We have almost completed our re-contracting for our existing clients and we are ahead of our target,” says Williams.
“When combined with the pipeline of potential new business we can see for the year ahead, the prospects for continued growth remain very strong.”
Williams says the firm is “making a lot of progress in planning future sales”.
Williams says: “There are a number of potential clients coming to us. They are big names in investment management who are thinking about outsourcing.”