Front Street Capital Management Selects SEI for Custody and Advisor Technology

Rhea-AI Summary

SEI (NASDAQ:SEIC) announced that Front Street Capital Management has selected their custody and technology solutions, transferring over $600 million in assets under management. Front Street chose SEI for its integrated infrastructure providing end-to-end advisor business solutions and dedicated service model. The Montana-based registered investment advisor specializes in purpose-driven companies with long-term compounding ability. The partnership aims to enhance Front Street's operational efficiency and client service capabilities through SEI's integrated technology platform and advisor services.

Positive

• Secured new client with $600 million in assets under management
• Expansion of custody and technology solutions business
• Strategic partnership strengthening market position in RIA segment

Negative

• None.

Integrated Custody and Technology Solution Powers Connected Experience and Business Growth 

OAKS, Pa., Nov. 21, 2024 /PRNewswire/ -- SEI^® (NASDAQ:SEIC) today announced that Front Street Capital Management (Front Street) has selected SEI for custody and technology solutions, embracing a tightly integrated, single infrastructure that provides an end-to-end experience across every aspect of an advisor's business, including a dedicated service and relationship management model.

Front Street is moving more than $600 million in assets under management to SEI. The Montana-based registered investment advisor invests client capital exclusively in purpose-driven companies that demonstrate ultra-long-term compounding ability and core values of management integrity, employee empowerment, teamwork, passion, long-term focus, and disciplined capital allocation.

For more than 25 years, they have been identifying companies that they believe continuously improve through stakeholder engagement. Front Street invests on the assumption that great managers can continually create more customer value by cultivating cultures that demonstrate high levels of cooperation, communication, trust, and continual improvement philosophies. 

Michele Blood, Co-Founder and Chief Operating Officer at Front Street, summarized the firm's reasons for choosing SEI as its custodian and technology provider:

"SEI's technology and advisor services capabilities are immensely important for us to provide more effective, efficient, and personal interactions and information for our growing client base, and SEI's commitment to supporting our distinctive investing activities, while continually enhancing their platform's capabilities, provided us the comfort to make the switch. SEI embodies our criteria for enduring, successful businesses, and that is also a key differentiator for us."

Highlighting the benefits of the strategic partnership, Gabriel Garcia, Head of RIA Client Strategy and Experience for SEI's Advisor business, said:

"In today's landscape, tight integration across technology and operations matters—particularly when it comes to efficiently running a business while providing a connected and collaborative experience for advisors and investors. For more than 30 years, we've remained a premier destination for financial intermediaries because of our ability to serve our clients based on their needs. We share Front Street's commitment to providing exceptional client service, and we're thrilled to support them in their mission and power their growth."

Russ Piazza, Co-Founder and Chief Investment Officer at Front Street, added:

"We've been huge fans of SEI's culture for decades and have always admired their team of 5,000 problem-solvers, who are passionate about providing more value to their customers every day. In fact, Front Street has long been an admirer of SEI, and we even designed our own collaborative office layout based on SEI's headquarters. All these years later, we're excited to partner with SEI, so we can deliver our clients a connected wealth management experience and continued focus on value creation."

About SEI^®
SEI (NASDAQ:SEIC) delivers technology and investment solutions that connect the financial services industry. With capabilities across investment processing, operations, and asset management, SEI works with corporations, financial institutions and professionals, and ultra-high-net-worth families to help drive growth, make confident decisions, and protect futures. As of Sept. 30, 2024, SEI manages, advises, or administers approximately $1.6 trillion in assets. For more information, visit seic.com.

About Front Street Capital Management
Front Street Capital Management, Inc. (Front Street) is a SEC Registered Investment Adviser located in Missoula, Montana. Front Street's Form ADV disclosure documents can be found on the SEC's Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov (firm CRD 141974) and on the Firm's website: www.frontstreetcap.com. 

Company Contact:	Media Contact:
Emily Baldwin	Kerry Mullen
SEI	Vested
+1 610-676-3262	+1 917-765-8720
ebaldwin@seic.com	kerry@fullyvested.com

 

View original content:https://www.prnewswire.com/news-releases/front-street-capital-management-selects-sei-for-custody-and-advisor-technology-302312057.html

SOURCE SEI Investments Company

FAQ

How much in assets is Front Street Capital Management moving to SEI (SEIC)?

Front Street Capital Management is moving more than $600 million in assets under management to SEI.

What services will SEI (SEIC) provide to Front Street Capital Management?

SEI will provide custody and technology solutions, offering an integrated infrastructure with end-to-end experience across advisor business operations and dedicated service management.

When did Front Street Capital Management announce its partnership with SEI (SEIC)?

The partnership was announced on November 21, 2024.