SEI Advisor Network added 406 new registered investment advisers last year as it increased assets under management to $31.1 billion.
The network, a unit of SEI, an Oaks, Pa., provider of investment processing, fund processing and investment management services, generated $5 billion in new receipts as a result of the new business. The expansion was announced Tuesday.
SEI said the number of new advisers that joined it continues to increase rapidly and represents a more than 60% increase from 2009.
SEI provides wealth management services to more than 6,000 financial advisers. In addition to its back-office and administrative services and investment solutions, in 2010, SEI launched practice management workshops, a series of interactive in-person sessions and webcasts teaching advisers best practices.
