BOSTON, MA. (JUNE 28, 2016) – 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 agreement comes at a time when securities class action litigation in the U.S. and abroad is 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.
About Financial Recovery Technologies
Founded in 2008, Financial Recovery Technologies (FRT) is a technology-based services firm that helps the investment community identify eligibility, file claims and collect funds made available in securities class action settlements. Offering the most comprehensive range of claim filing and monitoring services available, we provide best-in-class eligibility analysis, disbursement auditing and client reporting, and deliver the highest level of accuracy, accountability and transparency available. Financial Recovery Technologies is a Cross Country Group company – #17 largest private company in Massachusetts according to the Boston Business Journal (www.crosscountrygroup.com). For more information, go to www.frtservices.com.
SEI (NASDAQ:SEIC) is a leading global provider of investment processing, investment management, and investment operations solutions that help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of March 31, 2016, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $684 billion in mutual fund and pooled or separately managed assets, including $265 billion in assets under management and $419 billion in client assets under administration. For more information, visit seic.com.
Financial Recovery Technologies
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Financial Recovery Technologies