Pacific Premier Trust to Convert Wealth Business to SEI Wealth Platform

SEI announced today that Pacific Premier Trust, a division of Pacific Premier Bank, will convert their wealth business to the SEI Wealth PlatformSM (SWP). Pacific Premier Trust will also benefit from SEI's comprehensive integration strategy, including an extensive API offering and an ecosystem of web services geared toward wealth and asset management markets. SWP is a fully-integrated, single-infrastructure technology solution that enables organizational transformation, provides front-, middle-, and back-office services and supports an end-to-end, advanced digital experience for wealth management organizations and their clients.

"We are proud to welcome Pacific Premier Trust to the SEI family and look forward to supporting their current needs and future strategic growth initiatives through a simplified and truly modern technology and processing environment," said Al Chiaradonna, Senior Vice President of North America Private Banking at SEI. "Even during the pandemic's disruption, the market's confidence in the SEI Wealth Platform continues to grow. For decades, SEI has been a long-standing market leader and innovator when it comes to providing core wealth platforms and data integration solutions. By leveraging our advanced API strategy, Pacific Premier Trust will be able to further differentiate and grow their business more efficiently amid an increasingly competitive landscape."

Another key driver in Pacific Premier Trust's decision was SEI's vast expertise in outsourcing as a leading 30-year provider of investment processing back-office services. Although Pacific Premier Trust currently runs their business on a competitor's technology platform, they have always run their operations in house. This will be Pacific Premier Trust's first time outsourcing any part of their back office. The conversion of Pacific Premier Trust's wealth business to SWP is targeted to occur in the first half of 2021.

"The SEI Wealth Platform and SEI's API integration offering will significantly support our future growth aspirations, enabling us to better serve and expand our current client base, while differentiating our services to attract new clients," said Rich Immesberger, President of Pacific Premier Trust. "In addition to streamlining and simplifying our business and technology infrastructure, we will enhance the wealth management experience for our clients and advisors by more efficiently delivering fully integrated services to them."

SWP 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. Pacific Premier Trust joins more than 50 other SEI clients across the industry utilizing SWP as a core technology and infrastructure to grow and modernize their wealth management businesses.

This news was first announced on SEI's third-quarter 2020 earnings call.


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