Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:SEI to Boost Infrastructure Spending Not Rated 5.0 Email Routing List Email & Route  Print Print
Wednesday, August 13, 2003

SEI to Boost Infrastructure Spending

by: Sean Hanna, Editor in Chief

SEI Investments is planning to boost its spending on technology and operations in a bid to stay ahead of rivals. The Wall Street Journal reports that the plan -- called "Financial Wellness" by CEO Al West -- calls for SEI to increase its spending on its electronic trading capabilities and processing operations.

The firm may spend as much as 10 to 12 percent of its revenues on new technologies and initiatives this year, up from 8 percent to 10 percent in the past. The increase would theoretically boost SEI's absolute spending on strategic initiatives and capital projects to as much as $74 million from $60 million previously.

The Oaks, Pennsylvania-based firm also plans to upgrade its investment advisor platform technology and offer up new products and services for advisers to distribute, according to the report. The new products are a response to advisors' increased demand for alternative investments. The firm will also seek to capture the business of plan sponsors looking to outsource their pension administration.

West reportedly told investors that the increase in spending is part of an effort to stay in front of rivals. "The more they copy and the more time you give them, eventually they'll finally get it right," the paper reports West as saying.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

5.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use