SEI — which works with about 7,400 advisors and some $1.4 trillion in assets — says it will invest $10 million in TIFIN, a provider of asset and wealth management platforms that focus on the use of artificial intelligence, data tools and other technology.
Other backers of TIFIN have included JPMorgan, Morningstar, Hamilton Lane, Franklin Templeton, Motive Partners and Broadridge.
"Like many emerging trends, AI has tremendous potential to disrupt financial services, as well as accelerate opportunity, access and impact," said Sneha Shah, SEI's head of New Business Ventures, in a statement. "Working with the right strategic partners during times of intense change can increase speed, confidence, and agility."
The news about SEI's investment in TIFIN comes about two months after the firm said it was buying Altigo, a platform for alternative investments.
