SEI Investments Co. (SEIC), a prominent player in financial services, announced on Wednesday its acquisition of LifeYield, a Boston-based provider specializing in tax-smart technology.
This strategic move positions SEI to pioneer real-time, automated Unified Managed Household (UMH) capabilities, offering a comprehensive, cost-efficient, fully integrated overlay solution. The integration allows for an all-encompassing financial plan that optimizes after-tax returns by examining all account registrations holistically.
LifeYield brings to the table three pivotal benefits: increased efficiency for advisors and wealth managers, enhanced investment outcomes for investors, and scalable tax-efficient investing.
The integration will see all of LifeYield's APIs seamlessly incorporated into the SEI Wealth Platform. This aims to accelerate investment processes across various household accounts.
SEI is also set to broaden these capabilities with a novel front-end solution designed for both on- and off-platform distribution. The initiative is tailored to assist financial advisors, institutions, and asset managers in managing and executing household accounts more effectively.
This acquisition builds on a strategic alliance announced in 2022 between SEI and LifeYield. The partnership was aimed at empowering wealth managers in the U.K., and private banks and trust companies in the U.S., to apply a single investment model across multiple accounts within a household setting.
SEI has stated that the acquisition does not constitute a significant asset acquisition nor does it materially impact its operations or financial outcomes.
The material has been provided by InstaForex Company -
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