SEI Acquires LifeYield

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[{"type":"text","content":"New, Fully Bundled Technology Solution to Deliver Real-time UMH and Tax Capabilities\nOAKS, Pa., Dec. 11, 2024 /PRNewswire/ -- SEI® (NASDAQ: SEIC) today announced the acquisition of LifeYield, a Boston-based, tax-smart technology provider. Through this acquisition, SEI will be the first in the industry to provide real-time, automated unified managed household (UMH) capabilities in a cost-effective, fully bundled overlay solution, providing the industry with the ability to look across all account registrations and implement a holistic financial plan to best optimize after-tax returns.\n\n \n \n \n \n \n \n\n \nLifeYield's capabilities provide three core benefits, which include improving efficiency for advisors and wealth managers, improving outcomes for investors, and enabling tax-efficient investing at scale. With LifeYield's industry-leading technology for multi-account management, tax optimization, and income generation across multiple, coordinated models and accounts, SEI's comprehensive UMH capabilities will include:\nAsset locationTax-loss harvestingOngoing and tax-efficient multi-account household portfolio management and rebalancingTax transition servicesWithdrawal optimization across multiple household accountsSocial Security benefits for retirement incomeAll of LifeYield's APIs will be fully integrated into the SEI Wealth PlatformSM to help accelerate investment implementation across multiple accounts within the same household. SEI intends to expand these capabilities with a new front-end solution for on- and off-platform distribution to help financial advisors, institutions, and asset managers better manage and implement household accounts.\nCommenting on the acquisition, J. Womack, Chief Product Officer at SEI, said:\n\"Millennials and Gen X are in their prime earning years, and baby boomers are retiring—putting money in motion for the next decade and beyond. As investor demands are driving significant industry transformation, investors are increasingly prioritizing tax management and the flexibility of a personalized approach to portfolio management. We believe that integrating LifeYield's tax-smart technology with our investment, technology, and evolving multi-custody capabilities creates a unique suite of tax management solutions that position SEI as the industry leader in enabling the efficient accumulation and tr...

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