Financial Recovery Technologies (“FRT”) has signed an agreement with SEI (NASDAQ: SEIC) to position FRT to offer its comprehensive corporate governance solutions for securities litigation to SEI Private Banking clients.
FRT, a leading technology-based services firm in securities class action and litigation monitoring services, has worked with various SEI clients for over three years. This new strategic partnership provides data integration between FRT and SEI’s systems and technologies, enabling SEI Private Banking clients with the option to utilize FRT’s services.
This partnership comes at a time when securities class action litigations in the U.S. and abroad are challenging the investment community’s ability to identify, file and recover funds made available to satisfy fiduciary responsibilities.
“As securities class actions become more complex, this sophisticated, integrated capability is very important to our clients,” said Sandy Ewing, Senior Vice President, TRUST 3000, SEI Private Banking. “This strategic partnership reflects our commitment to providing clients with best-in-class options to satisfy their financial objectives and due diligence standards and enabling them to deliver the best possible service to their end-customers.”
SEI Private Banking clients will now be able to use FRT to fulfill this increasingly critical function, joining over 500 institutional clients representing more than $25 trillion in collective assets under management.
“We’re eager to expand our unrivaled understanding of this niche area of wealth management to SEI Private Banking clients,” said Rob Adler, President of FRT. “We know the difficulties organizations face when trying to recover funds available to them in settlements, and we are passionate about maximizing their time and investment through a comprehensive, automated solution that was designed to quickly adapt as industry complexity grows.”
Effective immediately, SEI Private Banking clients will be able to take advantage of this partnership and select FRT as its provider of securities class action and litigation monitoring services.
