Integrated Custody, Technology, Investment Management, and Transition Services Drive Business Evolution and Growth
OAKS, Pa., May 1, 2025 /PRNewswire/ -- SEI® (NASDAQ:SEIC) today announced that Summit Wealth Group, a fast-growing enterprise advisor practice, has selected SEI to support the firm's vision and evolution for strategic growth. The transition to a registered investment advisor (RIA) model provides Summit Wealth Group improved flexibility and greater control over the business' future, while enabling enhanced capabilities and solutions for clients.
Headquartered in Colorado Springs, CO and currently operating 10 offices across five states, Summit Wealth Group was founded by CEO Randy Morris in 1985 as Executive Financial Planning, Inc. The firm specializes in taking a planning-first approach to client relationships, and after assessing industry trends and future opportunities, Summit made the strategic decision to breakaway and establish an independent RIA to provide an improved client experience and help drive organic growth.
Commenting on the next chapter in Summit Wealth Group's 25-year journey, Morris commented:
"We weren't just looking for a custodian. We were looking for a strategic partner who demonstrated a cultural alignment and could support our growth and vision. SEI took a collaborative and consultative approach to understanding our needs, quickly solving them, and providing guidance throughout the entire transition.
"Not only does SEI's stability, scale, and top-notch service provide the operational efficiency we need to achieve our growth aspirations, but their differentiated ecosystem—combining open-architecture technology with integrated custody and investment management services—can deliver an end-to-end wealth management experience for our clients and help power our growth."
Supported by SEI's dedicated Business Transition team, Summit Wealth Group expects to migrate approximately $2.1 billion in assets to the SEI Wealth PlatformSM. In addition to critical custody and technology services, the firm will leverage SEI's enterprise capabilities across investment management and portfolio solutions, as well as advanced planning capabilities to support tax and income optimization for Summit Wealth Group's clients.
Michael Lane, Head of Asset Management at SEI, added:
"For more than three decades, we have championed advisor independence because the advice they deliver to their clients doesn't just guide financial decisions—it builds confidence, strengthens trust, and shapes futures. We've built a premier destination for growth-minded RIAs by simplifying the complex and offering a total business ecosystem that keeps clients at the center of everything an advisor does. SEI's focus on the forward-looking development of open-architecture technology and our breadth of wealth management solutions can revolutionize business operations and empower investors.
"We share a deep commitment to being relationship-driven and client-centered, and we are excited to serve Randy and the incredible team at Summit Wealth Group."
About SEI® SEI (NASDAQ:SEIC) is a leading global provider of financial technology, operations, and asset management services within the financial services industry. SEI tailors its solutions and services to help clients more effectively deploy their capital—whether that's money, time, or talent—so they can better serve their clients and achieve their growth objectives. As of March 31, 2025, SEI manages, advises, or administers approximately $1.6 trillion in assets. For more information, visit seic.com.
About the SEI Wealth PlatformSM The SEI Wealth Platform (the Platform) is an outsourcing solution for wealth managers encompassing wealth processing services and wealth management programs, combined with business process expertise. With the Platform, SEI provides wealth management organizations with the infrastructure, operations, and administrative support necessary to capitalize on their strategic objectives in a constantly shifting market. For more information, visit seic.com/wealthplatform.
About Summit Wealth Group Summit Wealth Group has been providing individuals and organizations with financial guidance since 1985. With 10 offices located throughout the U.S., the advisors of Summit Wealth Group pride themselves on providing customized financial strategies for each client. For more information, please visit, summitwealthgroup.com.
Custody services provided by SEI Private Trust Company, a federally chartered limited purpose savings association and wholly owned subsidiary of SEI Investments Company (SEI).
Forward-looking statements
This release contains forward-looking statements by SEI within the meaning or the rules and regulations of the Securities and Exchange Commission. In some cases, you can identify SEI's forward-looking statements by terminology, such as "may," "will," "expect," "believe" and "continue" or "appear." Our forward-looking statements include SEI's current expectations as to:
the benefits of its services, products and technologies;
its focus on the forward-looking development of open-architecture technologies; and
the timing and number of client accounts that will be migrated to and serviced by SEI Private Trust Company as well as the value of these accounts.
You should not place undue reliance on SEI's forward-looking statements, as they are based on the current beliefs and expectations of our management and subject to significant risks and uncertainties, many of which are beyond SEI's control or are subject to change. Although SEI believes the assumptions upon which it bases its forward-looking statements are reasonable, they could be inaccurate. Some of the risks and important factors that could cause actual results to differ from those described in SEI's forward-looking statements can be found in the "Risk Factors" section of SEI's Annual Report on Form 10-K for the year ended Dec. 31, 2024, filed with the Securities and Exchange Commission.
