SEI Access Transforms Onboarding for Collective Investment Trusts in Retirement Investments
- SEI Access streamlines onboarding for collective investment trusts (CITs).
- The platform improves operational efficiency in retirement investments.
- SEI Investments Company leads innovation in investment management solutions.
In a significant advancement for retirement plan management, SEI Investments Company introduces SEI Access™ for Collective Investment Trusts (CITs), a fully automated and digitized onboarding solution. This innovation directly addresses the increasing demand from defined contribution plan sponsors, advisors, recordkeepers, and asset managers for a more efficient system to handle CITs. With CITs gaining traction and recently surpassing mutual funds in popularity, the traditional cumbersome onboarding process has been a notable barrier, characterized by lengthy cycle times and operational complexities.
Transforming the Onboarding Experience
SEI Access transforms the onboarding experience by replacing outdated manual processes with streamlined digital documentation and intelligent automated data capture. This ensures that applications undergo smoother review and execution while providing centralized dashboards that allow real-time notifications and tracking of onboarding status. The platform's integration with SEI's existing CIT framework facilitates the seamless addition of private CIT funds, driving enhanced governance and administrative capabilities at scale.
Sean Lawlor, Head of Public Markets for SEI's Investment Managers business, highlights the pressing need for modernization in the onboarding workflows for CITs. By paralleling the advancements already achieved in mutual fund workflows, SEI Access not only promises to reduce the onboarding process from hours or days to mere minutes but also positions SEI at the forefront of operational efficiency in the retirement investment landscape.
A Step Forward for Retirement Ecosystem
This innovative approach not only improves efficiency for asset managers and retirement plan sponsors but also enhances accessibility to institutional-quality investments for all stakeholders involved. SEI's dedication to improving the retirement experience is underscored by this launch, which marks a significant step toward addressing industry's operational challenges while facilitating better collaboration within the ecosystem.
Conclusion
The introduction of SEI Access for CITs signifies a pivotal moment for SEI Investments, aligning with the industry's need for agile solutions in the face of growing demand. As the retirement landscape evolves, innovations like these are crucial for ensuring that all participants can navigate the complexities of investment management more effectively.