UK independent financial advisor Cavanagh Group has chosen US-based asset manager SEI’s global wealth services, including its global wealth platform, as its outsourcing solution. 

SEI will provide middle- and back-office services to support the IFA’s strategic growth with a scalable, repeatable acquisition model for all new business, and a conversion plan for the existing client assets, SEI said in a press statement.

The partnership is part of a move on Cavanagh's behalf to strategically transform its business model and streamline its client proposition. 

“In the current wealth management landscape, IFA solutions are generally limited and unable to support large businesses. The move by Cavanagh to this new wealth management model shows the importance of forming a strategic partnership for future growth,” said Joseph Ujobai, executive vice president within SEI’s private banks segment.