NorthStar is a provider of wealth management software to financial services institutions.
Through the acquisition, SEI will deliver more levels of front-office automation and functionality to its wealth management clients in business areas such as client acquisition and client management.
The technology from NorthStar automates a wide variety of client-related activities for wealth management providers, including financial planning and proposal generation, investment policy statements and product catalogs, portfolio construction and monitoring, and compliance.
SEI chairman and CEO Alfred West said that this acquisition will speed the delivery of these services to market and help them build out their vision of the Global Wealth Platform.
As of 31 December 2011, SEI manages $404bn in mutual fund and pooled or separately managed assets, including $172bn in assets under management and $232bn in client assets under administration.
