Automated Alternative Investment Data Collection and Delivery Increase Family Office Efficiency
OAKS, Pa., Oct. 27, 2020 – SEI (NASDAQ: SEIC) today announced enhancements to its Archway PlatformSM to automate alternative investment data workflows involving a strategic partnership with Canoe Intelligence (Canoe), a financial technology company focused on reimagining data management processes for alternative investors and capital allocators. SEI Family Office Services, a division of SEI focused on delivering technology and technology-enabled services to family offices, including seven of the top 15 wealthiest American families, and financial institutions serving ultra-high-net-worth families, is part of SEI’s Global Wealth Management Services business, comprised of market-leading, innovative solutions designed to support the future growth of investment and wealth managers globally.
“As a part of our long-term vision for the Archway Platform, we have prioritized building data connectivity and integrations with complementary family office solutions that improve core business functions for our clients,” said Paul Freeland, Managing Director of SEI Family Office Services. “Family offices have a critical need for increased efficiency and automation of the otherwise manual activities associated with alternative investment data collection. We are excited to leverage Canoe’s automated workflow processes to enable our clients to receive extracts of their alternative investment data across statements, funds and managers for electronic import into the Archway Platform.”
As family offices continue to increase allocations to private equity, hedge funds, venture capital and real estate, they are seeking solutions to simplify the data aggregation required to report alternative investment performance and more efficiently complete the associated accounting. Through this strategic partnership with Canoe, automated workflows, such as document collection, data extraction and data delivery, can be integrated into SEI’s proprietary Archway Platform allowing its users to achieve greater efficiency in their alternative investment data processing. By leveraging these integrated tools, clients are able to seamlessly input, track and report on alternative investment data as a part of their broader investment portfolios.
“We are thrilled to partner with SEI and continue enhancing the technology and tools available to family offices and wealth managers allocating to alternatives,” said Michael Muniz, Partner and Chief Revenue Officer at Canoe Intelligence. “By working together, we are not only able to help SEI clients automate document collection, improve data extraction and validation accuracy, and automate delivery into the Archway Platform, but we are also able to help increase transparency and control over their entire alternative investment document workflow.”
About SEI Family Office Services
SEI Family Office Services delivers technology and outsourced services that support the accounting, investment management and reporting functions of family offices, private banks, private wealth advisors and alternative asset managers. Designed to help family offices and advisors to wealthy families better serve their ultra-high-net-worth clients, SEI’s award-winning Archway PlatformSM and high-touch outsourced services efficiently handle complex partnership, portfolio and corporate accounting alongside bill payment, investment management and multi-asset class data aggregation. As of Sept. 30, 2020, SEI Family Office Services has $400 billion in assets on platform.1
After 50 years in business, SEI (NASDAQ:SEIC) remains a leading global provider of investment processing, investment management, and investment operations solutions that help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of Sept. 30, 2020, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages, advises or administers $1 trillion in hedge, private equity, mutual fund and pooled or separately managed assets, including $330 billion in assets under management and $755 billion in client assets under administration. For more information, visit seic.com.
About Canoe Intelligence
Canoe Intelligence is first-of-its-kind technology that allows allocators to unlock their data. Canoe reimagines operational workflows and enables clients to transform their processes in order to eliminate manual data entry. By combining industry expertise with the most sophisticated data capture technologies, Canoe automates the digitization of PDF reporting documents into actionable data and intelligence for institutional investors, allocators, and asset servicing firms. With Canoe, clients refocus capital and human resources on business performance and growth. Canoe’s AI-driven platform was developed in 2013 for Portage Partners LLC, a private investment firm, and is relied upon by hundreds of institutional investors, service providers, family offices, and allocators. www.canoeintelligence.com.
Kristina Pereira Tully
1Assets on platform is not indicative of potential revenue.