Shauna Mace, Managing Director of Advisor Services at SEI, joined Julie Cooling Founder and CEO of RIA Channel, to discuss three key challenges facing advisors today.
Mace notes that today’s advisors are facing three key challenges: growth, scale, and transition. SEI assists advisors in growing their capacity, their team, and their time. SEI’s infrastructure and technology can help advisors grow the capacity of their business. Small to mid-size advisors only spend around 30% of their time with clients and prospects, so these advisors can benefit from time-saving solutions to improve their availability to interface with clients.
Advisors are also concerned with transition, including succession planning, selling their practice, mergers, and the potential acquisitions of other advisory firms. SEI assists advisors with transition planning, regardless of whether they are an SEI client. Like retirement planning, transition planning takes time, with Mace encouraging advisors to start planning up to 20 years before the time of transition.
SEI has been serving advisors as a custodian for over thirty years. SEI wants to build relationships with advisors, with the firm providing dedicated service liaisons to RIAs. SEI can serve as an extension of the advisor’s team, providing back-office services that free up time for the advisor to spend on other areas of their business.
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