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Content-Light Presentation (Best for Projection)

  1. 1. Integrated Asset Management Solutions Update Presented by Chris Gibbons, SEI Michele Mast, SEI
  2. 2. Agenda • SEI’s Asset Management Philosophy & Investment Programs • Integrated Managed Accounts Program (IMAP®) – Overview – Current Status – Planned Enhancements • Private Client Models – Overview – Current Status • Distribution Focused Strategies – Overview – Current Status 2
  3. 3. SEI’s Global Wealth Services Advice Client Client Acquisition Management Wealth Service Asset Processing Firm Management Infrastructure Business Management Management 3
  4. 4. Investment Philosophy “Enabling clients to achieve their life and business objectives” SEI Investment Philosophy • Asset Allocation: Client-Driven Portfolio Design • Actively Managed Investment Strategies • Continuous Performance Measurement • Continuous Risk Management • Manager of Manager Model 4
  5. 5. An Expanding Definition of Investor Risks and Goals Traditional View of Market Client's View of Risks and Goals Risks and Goals Objective • Seek performance in line with • Protect against loss the markets • Generate income • Growth Risk Measure • Standard deviation and • Risk of loss volatility • Risk of not meeting goal • Risk Relative to benchmark (tracking error) Return • Annualized return • Reaching target value for Measure • Cumulative return goal • Absolute return • Stable return stream • Stable cash flow Reference • Return relative to benchmark • “High water mark” Point (excess returns) • Goal attainment 5
  6. 6. Our Philosophy and Investment Programs Offer Your Clients: • Focus on their goals • Asset allocation aligned with risk and return objectives • Risk managed through asset class structure • Return enhancement through specialist fundamental and quantitative active management • Access to premier investment techniques, asset classes and managers • Continuous and dynamic monitoring 6
  7. 7. Investment Evolution Individual Money Management Model of Models Portfolio Market Evolution IMAP/Fixed Income Goals Based Asset Allocation Accounts Portfolios Distribution Benchmark Driven Focused Asset Allocation Strategies Portfolios Private Client Style Specific Models Building Blocks Traditional Models Manager of Manager Funds Investment Offering Sophistication 7
  8. 8. IMAP: Life Cycle Management SEI continuously evaluates the marketplace to identify trends and opportunities to deliver increased value to our clients, and we undertake a concurrent and iterative process to achieve the best solutions. / on • Propose: Identify and evaluate needs cati tifi el is us od lys n lJ M • Define: Gather business requirements A na atio cia nue lid an e PROPOSE Risk Va Fin Rev • Design: Create master plan; and complete functional and technical DEFINE designs ASSESSMENT • Build: Execution of the master plan • Test: Conduct internal and client CONCURRENT (beta) testing AND DESIGN ITERATIVE • Launch: Introduce solution into the SUPPORT market • Support: Enhancements/Operational BUILD Efficiency LAUNCH 8 TEST • Assessment: Ongoing evaluation
  9. 9. Integrated Managed Account Program (IMAP) • Enhanced IMAP is SEI’s latest evolution of our Managed Account solution: – Equity manager securities are integrated into one unified account – IMAP is now integrated onto a bank’s TRUST 3000® processing platform – Allows for an enhanced tax management investment approach for bank end investors – Bank advisors have increased flexibility in end investor portfolio construction – Overlay manager provides enhanced coordination across an end investor’s equity portfolio – Available as Standard Solution (Equity & Fixed Income Management), Equity Only Solution, or a Fixed Income Management Only Solution 9
  10. 10. Integrated Managed Account Program (IMAP) • Current status of IMAP solution: – Currently in live Production environment for 3 Private Banking clients – Currently in the Implementation stage for 3 Private Banking clients – Currently in the Active Discussion stage with 16 Private Banking clients – Current IMAP Assets Under Management at SEI: – $3.8 billion in SEI’s IMAP solution – $150 million in Integrated Private Banking IMAP solution – IMAP Asset Commitments (Private Banking): – $185 million over the next 18 months 10
  11. 11. Integrated Managed Account Program (IMAP) • Planned enhancements for Private Bank IMAP solution: – Enable banks to include their chosen equity managers in Overlay – Utilization of the new Proposal Tool for IMAP accounts – Enhancements to the Manager Communication Website – Continued due diligence by SEI towards further simplification of the IMAP account structure 11
  12. 12. Private Client Models: Life Cycle Management SEI continuously evaluates the marketplace to identify trends and opportunities to deliver increased value to our clients, and we undertake a concurrent and iterative process to achieve the best solutions. / on • Propose: Identify and evaluate needs cati tifi el is us od lys n lJ M • Define: Gather business requirements A na atio cia nue lid an e PROPOSE Risk Va Fin Rev • Design: Create master plan; and complete functional and technical DEFINE designs ASSESSMENT • Build: Execution of the master plan • Test: Conduct internal and client CONCURRENT (beta) testing AND DESIGN ITERATIVE • Launch: Introduce solution into the SUPPORT market • Support: Enhancements/Operational BUILD Efficiency/Breakage LAUNCH 12 TEST • Assessment: Ongoing evaluation
  13. 13. Private Client (PC) Models • Like IMAP they incorporate the same behavioral finance research used to build our Goals Based Philosophy • They use the SEI Manager of Manager funds as building blocks • The models take a long term strategic outlook on asset classes • The key difference from the traditional models is the ability to incorporate new SEI investment products in the portfolios (i.e. Enhanced Income, Tax-Advantaged Income) 13
  14. 14. Matching Goals with Risks Stability Market Growth Focused Focused Focused Draw Down Relative Upside Risk Risk Capture 14
  15. 15. Private Client (PC) Models • Portfolio Realignment must be set up on your master to utilize SEI Models • Automation can be put in place to integrate directly with the IMU for updates • Are set up and available for immediate use on shared ID’s • For information on how to set up the SEI Models please contact your relationship team • Marketing material will be printed and also available on http://www.BankAdvisor.seic.com 15
  16. 16. Distribution-Focused Strategies: Life Cycle Management SEI continuously evaluates the marketplace to identify trends and opportunities to deliver increased value to our clients, and we undertake a concurrent and iterative process to achieve the best solutions. / on • Propose: Identify and evaluate needs cati tifi el is us od lys n lJ M • Define: Gather business requirements A na atio cia nue lid an e PROPOSE Risk Va Fin Rev • Design: Create master plan; and complete functional and technical DEFINE designs ASSESSMENT • Build: Execution of the master plan • Test: Conduct internal and client CONCURRENT (beta) testing AND DESIGN ITERATIVE • Launch: Introduce solution into the SUPPORT market • Support: Enhancements/Operational BUILD Efficiency/Breakage LAUNCH 16 TEST • Assessment: Ongoing evaluation
  17. 17. Distribution-Focused Strategies (DFS) • Based on the same behavioral finance research as our other Goals Based products • DFS is designed to address the impending needs of the wave of retiring Baby Boomers • Provides a regular cash stream to provide for their life style • Utilizes the SEI Private Client Models as building blocks • Offers more flexibility than annuities and other retirement solutions • Provides several options to cater to a wide variety of needs 17
  18. 18. Number of Baby Boomers in Retirement 80,000 70,000 60,000 50,000 40,000 30,000 20,000 10,000 0 2010 2015 2020 2025 2030 2035 2040 18 Sources: U.S. Census Bureau, Cerulli Associates
  19. 19. Distribution-Focused Strategies • Being utilized by our Advisor market as of end of 4th quarter of 2007 and processed on TRUST 3000® • Actively working with three beta clients in the Private Banking market • Requires installation of interfaces and set up of several jobs, a longer installation period than models • Will be available for use in the 3rd quarter of 2008 for Private Banking clients 19
  20. 20. Evolution of Our Solution: Built on a Strong Foundation Fully Integrated Solution Global Wealth Services Asset Management Led Global Wealth GWS ~ Asset Management Services ‘Base’ of Today’s Asset Processing Leading Solutions Management Services 20
  21. 21. Questions
  22. 22. Disclosures Neither SEI nor its affiliates provide tax advice. Please note that (i) any discussion of U.S. tax matters contained in this communication cannot be used by you for the purpose of avoiding tax penalties; (ii) this communication was written to support the promotion or marketing of the matters addressed herein: and (iii) you should seek advice based on your particular circumstances from an independent tax advisor. This material represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. This information should not be relied upon by the reader as research or investment advice. This information is for educational purposes only. SEI Investments Management Corporation acts as investment advisor for SEI Fixed Income Management. There are risks involved with investing, including loss of principal. For those portfolios of individually managed securities, SEI Investments Management Corporation makes recommendations as to which manger will manage each asset class. SEI may recommend the termination or replacement of a money manger and the investor has the option to move the account assets to another custodian or to change the manager as recommended. For a complete description of all fees and expenses for separately managed accounts, please refer to SEI Investments Management Corporation’s ADV Part II. For those SEI funds which employ the ‘manager of manager’ structure, SEI Investments Management Corporation has the ultimate responsibility for the investment performance of the fund due to its responsibility to oversee the sub-advisers and recommend their hiring, termination and replacement. FOR FINANCIAL INTERMEDIARY USE ONLY. NOT FOR PUBLIC DISTRIBUTION. 22
  23. 23. Chris Gibbons Chris is responsible for providing Asset Management solutions for the PB&T business unit of SEI Investments. Chris’s primary responsibilities the past 2 years have been the development and implementation of SEI’s Integrated Managed Account Program and Fixed Income Management products to the PB&T client base. During the past 14 years at SEI, Chris has held various leadership positions in the company including Trust Company Operations Manager, Institutional Account Manager, Service Director of the Managed Account Sponsor Program, and Director of the SMA Outsourcing Operations Team. Prior to joining SEI, Chris was a Trust Officer with both CoreStates and Mellon banks in Philadelphia. Chris received his Bachelor of Sciences Degree in Accounting from Drexel University. 23
  24. 24. Michele Mast Ms. Mast is currently responsible for asset management product deployment in the US Private Banking market. The products she is currently working on include Distribution Focused Strategies, SEI’s asset allocation models, and a proposal generator. Other areas of product oversight include liquidity and alternative investment product offerings around the world. Ms. Mast has worked with many different products here at SEI including cash & portfolio accounting, tax and the commercial CashSweep product. Ms. Mast joined SEI thirteen years ago and has functioned in several roles at SEI including: relationship management; designing and implementing service models; technical design and implementation; quality assurance; product development; website modeling, design, and launch; project management; and product management. Prior to joining SEI, Ms. Mast worked for the Pennsylvania State University for six years, lastly as a Program Administrator. She holds a B.S. in Computer Sciences from the Pennsylvania State University, a post graduate certificate in Financial Technology from Villanova, maintains Series 6 and 63 licenses, and holds the Certified Treasury Professional (CTP) designation. 24

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