SEI Selects Ascensus to Provide Retirement Plan Recordkeeping
DRESHER, PA, January 10, 2008 -- Ascensus (formerly BISYS Retirement Services), the nation's largest independent service provider for small- and mid-sized retirement plans, announced that it has been selected by SEI (NASDAQ:SEIC), a leading global provider of outsourced asset management, investment processing and investment operations solutions, to provide recordkeeping and administrative services for its retirement plans. Ascensus will provide a complete open architecture mutual fund environment for fee-based advisory services with 100% fee transparency.
Through this relationship, Ascensus will support SEI clients with its comprehensive suite of retirement plan products and services, including prototype plan design and maintenance, web-based planning tools, toll free access to retirement specialists and customized marketing and sales support materials. In addition, SEI will have access to Ascensus' suite of participant education tools used to help maximize plan participation, including onsite enrollment meetings with multi-lingual capabilities, personalized enrollment materials, customized targeted communications and (k)ruiseControl(TM), its auto enrollment and deferral increase program.
According to Kevin Barr, SEI Advisor Network, "SEI is pleased to enter into this relationship with Ascensus as we seek to provide continual service enhancements to advisors. We are confident that SEI's growth in the retirement plan marketplace will be enhanced by Ascensus' sound support to advisors throughout the sales process, expertise with retirement services, industry-leading ERISA consulting group and competitive pricing. Further, Ascensus' capability to provide 100% fee transparency was a key factor in our decision."
Bob Guillocheau, president of Ascensus, said, "Our relationship-based service model is closely aligned with SEI's commitment to providing tailored solutions to help businesses, financial institutions, financial advisors and individuals grow and manage wealth. We look forward to building a strong, long-term relationship focused on consistently delivering a comprehensive range of innovative and custom solutions."
About Ascensus
With more than thirty years of industry experience, Ascensus provides high-quality solutions for every segment of the retirement marketplace. As the nation's largest independent administrator and recordkeeper for small- and mid-sized retirement plans, Ascensus services over 26,000 defined contribution plans and nearly 1.5 million employees, with more than $33 billion in assets under administration. The company's programs are built upon a comprehensive investment platform and are tailored to support the needs of institutional retirement plan providers, financial advisors and their clients. Core offerings encompass every component of a sophisticated retirement infrastructure, including administration, recordkeeping, ERISA consulting, compliance and sales support, trust and custody services, training and documentation.
About SEI
SEI (NASDAQ: SEIC) is a leading global provider of outsourced asset management, investment processing and investment operations solutions. The company's innovative solutions help corporations, financial institutions, financial advisors, and affluent families create and manage wealth. As of March 31, 2007, through its subsidiaries and partnerships in which the company has a significant interest, SEI administers $382.4 billion in mutual fund and pooled assets and manages $190.0 billion in assets. SEI serves clients, conducts or is registered to conduct business and/or operations, from more than 20 offices in over a dozen countries. For more information, visit http://www.seic.com.
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