SEI to replace three bonds with open architecture portfolio

The Wealth Management Portfolio which launches on March 13 will replace its investment portfolio, money market portfolio and private client portfolio, with an open architecture style investment product. It will have access to SEI’s own Portfolio Funds range with a reduced annual management charge, along with a Preferential range of more than 900 funds from 25 fund managers with preferential terms and customer rebates. SEI say they are reviewing their proposition as the offshore market is being seen as more “acceptable” with more advisers becoming interested in open architecture products...