US-based SEI Private Wealth Management has added technological features to the dashboard of its tech platform paving the way for HNW individuals to better organise their wealth.
The firm has added three features to its client dashboard: Cash-Flow Suite, a wealth aggregation feature and MyDocVault.
Michael Farrell, managing director of SEI Private Wealth Management, said: “The traditional approach lacks an in-depth understanding of financial outcomes, as well as coordination between advisors, and this can leave clients dissatisfied.”
The Cash-Flow-Suite simplifies real-time data, enabling clients to assign cash flows to multiple goals, including: lifestyle, philanthropy. The clients can compare the performance against their forecasted financial targets.
MyDocVault uses automated workflows to reduce paperwork and keep documents organised.
The firm’s Cash-Flow Suite within its dashboard will provide clients insight into their income and expenses.
SEI Wealth Management said this feature provides high- level and categorised information for any time period”.
Jeff Ladouceur, SEI Private Wealth Management’s director of client advice and solutions said: “We work very closely with each client through our discovery process to determine and plan for unique financial objectives. The cash-flow tool enables clients to interact with their wealth and understand how inflows relative to expenses may be impacting their overall investment strategy.”
SEI Private Wealth Management said: “Clients can view all pertinent documents and determine what they’re missing, as well as invite their third-party experts to upload applicable paperwork on their behalf.”
The company added: “These experts can also be assigned to recurring tasks in order to maximise document collection. The DocVault provides clients the ease of accessing and requesting documents through a central location.”
SEI Private Wealth Management said: “As ultra-high-net-worth individuals accumulate more assets and wealth, financial confusion and disorganisation can grow.”
As of December 31, 2017, SEI Private Wealth Management has assets under administration of $2.1bn.