Strategic Investment and Partnership Fosters
Industry Talent, Innovation, and Growth
OAKS,
Pa., Feb. 21, 2024 /PRNewswire/ --
SEI® (NASDAQ:SEIC) today announced a strategic
investment of $10 million in TIFIN, a
leading innovation platform accelerating the adoption of artificial
intelligence (AI) in wealth management. TIFIN's pace of development
and breadth of AI solutions—combined with SEI's scale, technology,
and distribution—will help enhance and personalize client
experiences and support business growth.
SEI and TIFIN expect that their strategic partnership will
accelerate value and growth for the industry through:
- Rapid exploration and solution delivery: Evaluating and
testing new ideas quickly with a clear path to build or co-invest
in promising opportunities
- Access to market innovation: Engaging the financial
services ecosystem to share best practices and resources and to
stay abreast of the pace of change in AI and wealth technology
- Talent development: Empowering growth and learning
through access to a greater pool of talent in emerging
technologies, as well as externship programs
Sneha Shah, Head of New
Business Ventures at SEI, said:
"The industry is changing faster than ever, and it likely won't
slow down in the future. Like many emerging trends, AI has
tremendous potential to disrupt financial services, as well as
accelerate opportunity, access, and impact. We need a deep
curiosity and willingness to challenge convention in order to
realize the promise of AI in driving greater personalization,
helping clients find signal in noise, and meeting our clients where
and when they want.
"Working with the right strategic partners during times of
intense change can increase speed, confidence, and agility. TIFIN's
proven expertise in efficiently building startups at the
intersection of AI and wealth—as well as their core values and
organizational culture—align with our strategic focus on talent,
culture, and growth. We are excited to bring our teams together to
build brave futuresSM through the power of
connection."
Vinay Nair, Founder and CEO of
TIFIN, added:
"We are in a golden age of applying AI to help deliver better
individualized advice and more relevant investment products to more
people. TIFIN has built and continues to build products to
accelerate this future.
"SEI has the scale and distribution to detect opportunities and
deliver the solutions needed. This makes it a powerful combination,
and we are thrilled to partner with SEI. We believe that our
cultural synergies, access to talent and expertise, and network of
strategic partners will help power the future of wealth."
About SEI®
SEI (NASDAQ:SEIC) delivers
technology and investment solutions that connect the financial
services industry. With capabilities across investment processing,
operations, and asset management, SEI works with corporations,
financial institutions and professionals, and ultra-high-net-worth
families to help drive growth, make confident decisions, and
protect futures. As of Dec. 31, 2023,
SEI manages, advises, or administers approximately $1.4 trillion in assets. For more information,
visit seic.com.
About TIFIN
TIFIN is an AI and innovation
platform for better wealth outcomes. Founded by Dr. Vinay Nair, TIFIN creates and operates new
companies that apply data science, AI, and technology to address
frictions in wealth and asset management. TIFIN's companies have
included 55ip (sold to JP Morgan), Paralel and
currently include Magnifi, TIFIN Wealth, TIFIN
Give, TIFIN AG, TIFIN AMP, Helix, TIFIN @Work,
and Sage. TIFIN has been backed by JP Morgan, Morningstar,
Hamilton Lane, Franklin Templeton,
Motive Partners, and Broadridge among others.
Forward-looking statements
This release contains forward-looking statements within the
meaning or the rules and regulations of the Securities and Exchange
Commission. In some cases you can identify forward-looking
statements by terminology, such as "may," "will," "expect,"
"believe" and "continue" or "appear." Our forward-looking
statements include our current expectations as to:
- the degree to which SEI's strategic investment in TIFIN will
accelerate growth;
- whether SEI's scale, technology, and market distribution will
increase speed of solution delivery and enhance our clients'
experience through our strategic partnership with TIFIN;
- whether rapid exploration and solution delivery, access to
market innovation, and talent development will drive value and
growth for the industry;
- the degree to which SEI's partnership with TIFIN will have any
effect on the industry or the future of wealth;
- whether or not SEI will receive any of the expected benefits
from its investment; and
- the potential of artificial intelligence to accelerate
opportunity, access, and impact.
You should not place undue reliance on our forward-looking
statements, as they are based on the current beliefs and
expectations of our management and subject to significant risks and
uncertainties, many of which are beyond our control or are subject
to change. Although we believe the assumptions upon which we base
our forward-looking statements are reasonable, they could be
inaccurate. Some of the risks and important factors that could
cause actual results to differ from those described in our
forward-looking statements can be found in the "Risk Factors"
section of our Annual Report on Form 10-K for the year ended
December 31, 2023, filed with the
Securities and Exchange Commission.
Company
Contact:
|
Media
Contact:
|
Leslie
Wojcik
|
Kerry Mullen
|
SEI
|
Vested
|
+1
610-676-4191
|
+1
917-765-8720
|
lwojcik@seic.com
|
kerry@fullyvested.com
|
View original
content:https://www.prnewswire.com/news-releases/sei-and-tifin-partner-to-power-the-future-of-wealth-through-artificial-intelligence-302066716.html
SOURCE SEI Investments Company