SEI WEALTH PLATFORM

Workflow Library

  • Client Management

Client Communications

This workflow describes all the steps required to initiate, manage, and execute a client communication across several clients simultaneously. Examples of typical communications include but are not limited to, investment commentary, Form ADV letters, announcements, etc.

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Periodic Contact

This workflow describes all the steps required to manage client relationships via periodic contact, so that there's ongoing contact with clients without regard to meeting frequency. The point of contact could take the form of a phone call, email, card, or gift. Typical reasons for contacting a client might include, but are not limited to, a family/lifestyle change, recent event, outstanding issue, financial notification, client achievement (i.e. new job, promotion, news, or press), or special event (i.e. birthday, wedding anniversary, etc.) When determining how frequently to contact a client, a firm should take into consideration the type of client (service-level, communication preferences, personal schedule, etc.) and capacity of the team to manage those points of contact.

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Planning Services Meeting

This workflow describes all the steps required to provide specialized planning services to your clients that differentiate from your core offering. Common planning services include, but are not limited to, the following: tax preparation for high-net-worth clients, estate planning, etc. Typically, this type of meeting is conducted on an as-needed basis because of the nature of their focus in specialized areas of service.

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Review Meeting

This workflow describes all the steps required to prepare, conduct, and follow up a client Review Meeting. The topics of the meeting will vary based on the strategy your firm implements and the client segment.

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  • Service Requests

Account Closing

This workflow describes all the steps required for a Client Service Associate (CSA) to initiate and manage a client service request. As opposed to the Associate Advisor (AA), the CSA typically manages the following Service Request processes: New Account Opening, Money Movement In, Money Movement Out, Client Information Change, Account Features, Client Communications, Account Profile Change, Account Liquidation, Account Closing, and all other General Service Requests.

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Account Features

This workflow describes all the steps required for a Client Service Associate (CSA) to initiate and manage a client service request. As opposed to the Associate Advisor (AA), the CSA typically manages the following Service Request processes: New Account Opening, Money Movement In, Money Movement Out, Client Information Change, Account Features, Client Communications, Account Profile Change, Account Liquidation, Account Closing, and all other General Service Requests.

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Account Liquidation

This workflow describes all the steps required for a Client Service Associate (CSA) to initiate and manage a client service request. As opposed to the Associate Advisor (AA), the CSA typically manages the following Service Request processes: New Account Opening, Money Movement In, Money Movement Out, Client Information Change, Account Features, Client Communications, Account Profile Change, Account Liquidation, Account Closing, and all other General Service Requests.

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Account Profile Change

This workflow describes all the steps required for a Client Service Associate (CSA) to initiate and manage a client service request. As opposed to the Associate Advisor (AA), the CSA typically manages the following Service Request processes: New Account Opening, Money Movement In, Money Movement Out, Client Information Change, Account Features, Client Communications, Account Profile Change, Account Liquidation, Account Closing, and all other General Service Requests.

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Client Communications

This workflow describes all the steps required for a Client Service Associate (CSA) to initiate and manage a client service request. As opposed to the Associate Advisor (AA), the CSA typically manages the following Service Request processes: New Account Opening, Money Movement In, Money Movement Out, Client Information Change, Account Features, Client Communications, Account Profile Change, Account Liquidation, Account Closing, and all other General Service Requests.

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Client Information Change

This workflow describes all the steps required for a Client Service Associate (CSA) to initiate and manage a client service request. As opposed to the Associate Advisor (AA), the CSA typically manages the following Service Request processes: New Account Opening, Money Movement In, Money Movement Out, Client Information Change, Account Features, Client Communications, Account Profile Change, Account Liquidation, Account Closing, and all other General Service Requests.

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Fee Management

This workflow describes all the steps required for an Associate Advisor (AA) to initiate and manage a client service request. As opposed to the Client Service Associate (CSA), the AA typically manages the following Service Request processes: Strategy Management (Portfolio Level), Fee Management, Trade Requests, and Tax Management.

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General Service Requests

This workflow describes all the steps required for a Client Service Associate (CSA) to initiate and manage a client service request. As opposed to the Associate Advisor (AA), the CSA typically manages the following Service Request processes: New Account Opening, Money Movement In, Money Movement Out, Client Information Change, Account Features, Client Communications, Account Profile Change, Account Liquidation, Account Closing, and all other General Service Requests.

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Money Movement In

This workflow describes all the steps required for a Client Service Associate (CSA) to initiate and manage a client service request. As opposed to the Associate Advisor (AA), the CSA typically manages the following Service Request processes: New Account Opening, Money Movement In, Money Movement Out, Client Information Change, Account Features, Client Communications, Account Profile Change, Account Liquidation, Account Closing, and all other General Service Requests.

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Money Movement Out

This workflow describes all the steps required for a Client Service Associate (CSA) to initiate and manage a client service request. As opposed to the Associate Advisor (AA), the CSA typically manages the following Service Request processes: New Account Opening, Money Movement In, Money Movement Out, Client Information Change, Account Features, Client Communications, Account Profile Change, Account Liquidation, Account Closing, and all other General Service Requests.

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New Account Opening

This workflow describes all the steps required for a Client Service Associate (CSA) to initiate and manage a client service request. As opposed to the Associate Advisor (AA), the CSA typically manages the following Service Request processes: New Account Opening, Money Movement In, Money Movement Out, Client Information Change, Account Features, Client Communications, Account Profile Change, Account Liquidation, Account Closing, and all other General Service Requests.

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New Proposal

This workflow describes all the steps required to prepare and present a proposal to an existing client. In this scenario, typically the proposal has already been discussed with the client to some extent, and this is a matter of documenting and presenting the proposal to get the client's sign-off to move forward with implementation. This workflow differs from the Proposal Meeting workflow, which is typically reserved for a more formal meeting with a prospect.

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Strategy Management

This workflow describes all the steps required for an Associate Advisor (AA) to initiate and manage a client service request. As opposed to the Client Service Associate (CSA), the AA typically manages the following Service Request processes: Strategy Management (Portfolio Level), Fee Management, Trade Requests, and Tax Management.

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Tax Management

This workflow describes all the steps required for an Associate Advisor (AA) to initiate and manage a client service request. As opposed to the Client Service Associate (CSA), the AA typically manages the following Service Request processes: Strategy Management (Portfolio Level), Fee Management, Trade Requests, and Tax Management.

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Trade Requests

This workflow describes all the steps required for an Associate Advisor (AA) to initiate and manage a client service request. As opposed to the Client Service Associate (CSA), the AA typically manages the following Service Request processes: Strategy Management (Portfolio Level), Fee Management, Trade Requests, and Tax Management.

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  • Sales

Fact Finding Meeting

This workflow describes all the steps required to properly prepare and present to a prospect who is considering hiring you as a Financial Advisor. It is in this meeting that you really learn about the prospective client's current financial status and future needs to match them with the services you provide. This workflow is the second of three phases in the sales process.

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Introduction

This workflow describes all the steps required to coordinate and document the first contact you have with a prospect, so you make a positive first impression and provide a consistent experience to all your potential clients. This workflow is the first of three phases in the sales process.

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Proposal Meeting

This workflow describes all the steps required to prepare and present to a prospect who is considering hiring you as a Financial Advisor. It is in this meeting that you present a proposal for serving the prospect based on their specific needs. This is the third and last phase in the sales process.

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  • Onboarding

Asset Management Execution

This workflow describes all the steps required to successfully implement an investment management plan for a client. The purpose of the workflow is to complete the onboarding process for a client, which will officially move the client from the prospect phase into the regular client service process.

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Wealth Management Meeting

This workflow describes all the steps required to successfully create, present, & implement a comprehensive wealth management plan for a client. The purpose of the meeting is to initiate the onboarding process for a client, which will eventually move the client from the prospect phase into the regular client service process.

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  • Practice Management

Facilities Management - Equipment Maintenance

This workflow describes all the steps required to assess and manage the maintenance of office equipment. Office equipment includes, but is not limited to, printers, desks, tables, etc. This workflow is reactionary, meaning it is only initiated when someone identifies that there is an issue or need to repair the equipment.

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Facilities Management - New Equipment

This workflow describes all the steps required to manage the purchasing of new office equipment. Office equipment includes, but is not limited to, printers, desks, tables, etc. This workflow is reactionary, meaning it is only initiated when someone identifies the need to replace or purchase a new piece of equipment.

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Facilities Management - Office Supplies Replenishment

This workflow describes all the steps required to manage office supplies inventory. Generally, this workflow is reactionary, meaning it is only initiated when someone identifies there is a need for more office supplies. However, firms can launch this workflow on a periodic basis to ensure inventory is always maintained on a regular basis so there is never a delay in waiting for the supplies to be received once they run out.

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Financial Management - Periodic Accounting Review

This workflow describes all the steps required to formally review the financial health of the business with the firm's accountant. This is an important part of properly evaluating and managing the firm's finances in order to ensure the firm's financial objectives align with the firm's overall business strategy. Best practice is to conduct a Periodic Accounting Review on a quarterly basis, at the end of every financial quarter.

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Financial Management - Periodic Revenue Reconciliation

This workflow describes all the steps required to monitor all sources of revenue and payment. The primary purpose of this workflow is to reconcile what payments should have been received by the firm against what was actually received. Best practice is to perform a revenue reconciliation on a quarterly basis, at the end of every financial quarter.

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Human Resource Management - New Hire Process

This workflow describes all the steps required to initiate and manage the entire process of recruiting, hiring, and onboarding a new hire. It is in this process that the firm identifies a role that needs to be filled, searches for a potential candidate, evaluates interviewees, extends a job offer, and successfully hires and onboards a new hire. Because this is a particularly complex process, it is important the firm understands how long it typically takes to successfully fill a role within the firm.

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Human Resource Management - Periodic Employee Review

This workflow describes all the steps required to conduct a formal performance review of an employee within the firm. This is an important part of properly managing human resources, providing / collecting feedback, and continuing to motivate the firm's workforce to advance their career and make improvements on behalf of the firm. At minimum, a firm should conduct a performance review of each employee on a yearly basis. 

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Marketing Management - Marketing Planning Meeting

This workflow describes all the steps required to coordinate, prepare, and execute a Marketing Planning Meeting in order to evaluate the firm's overall marketing strategy. Typically, this meeting takes place on an annual basis and is followed up by a Periodic Marketing Review on a quarterly basis in order to ensure the team is tracking and monitoring progress to the goals laid out within the marketing plan on a regular basis.

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Marketing Management - Periodic Lead Generation Review

This workflow describes all the steps required to conduct a review of the firm's lead generation strategy. It is in this review that the firm typically generates reports to track progress and assess whether changes need to be made to the firm's communications and marketing activities targeted at generating leads. Best practice is to conduct a Lead Generation Review on a quarterly or monthly basis depending on the level of lead generation activity within the firm.

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Marketing Management - Periodic Marketing Review

This workflow describes all the steps required to conduct a review of the firm's progress towards achieving the firm's marketing goals. It is in this review that the firm typically generates reports to track progress and assess whether changes need to be made within the firm or to the overall marketing plan. Best practice is to conduct a Marketing Review on a quarterly basis in coordination with the firm's annual Marketing Planning Meeting, where the marketing plan is first defined and implemented.

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Marketing Management - Periodic Social Media Review

This workflow describes all the steps required to conduct a review of the firm's social media strategy. It is in this review that the firm typically generates reports to track progress and assess whether changes need to be made to the firm's social media activities and campaigns. Best practice is to conduct a Social Media Review on a quarterly or monthly basis, depending on the level of social media activity within the firm.

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Operations Management - Periodic Workflow Review

This workflow describes all the steps required to monitor the firm's operations, particularly by evaluating the firm's workflows. It is in this review that the firm identifies ways to improve overall operations within the firm as well as the firm's workflow library that is being used to support those operations. Best practice is to conduct a "Periodic Workflow Review" on a quarterly or bi-annual basis.

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Risk Management - Compliance Manual Update

This workflow describes all the steps required to update the firm's compliance manual, either on an annual basis or if there is a material change that requires updating right away. This is an important part of management's role in ensuring the firm remains compliant.

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Risk Management - Form ADV Update

This workflow describes the steps required to update the firm's Form ADV, either on an annual basis or if there is a material change that requires updating right away. This is an important part of management's role in ensuring the firm remains compliant.

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Risk Management - Periodic Education Requirements Review

This workflow describes all the steps required to monitor and manage the staff's license, designation, and education requirements on an ongoing basis to ensure the firm is compliant and employees are receiving the appropriate training. Though requirements are generally managed by each individual employee, best practice is for the Advisor to monitor this activity from a management standpoint to ensure nothing gets missed or overlooked. Best practice is to initiate this process on a quarterly basis to ensure the firm remains compliant.

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Strategic Planning - Business Planning Meeting

This workflow describes all the steps required to coordinate, prepare, and execute a Business Planning Meeting in order to evaluate the firm's overall business strategy. Typically, this meeting takes place on an annual basis and is followed up by a Periodic Business Review on a quarterly basis in order to ensure the team is tracking and monitoring progress of the goals laid out within the business plan on a regular basis.

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Strategic Planning - Periodic Business Review

This workflow describes all the steps required to conduct a review of the firm's progress towards achieving the firm's strategic business goals. It is in this review that the firm typically generates reports to track progress and assess whether changes need to be made within the firm or to the overall business plan. Best practice is to conduct a Business Review on a quarterly basis in coordination with the firm's annual Business Planning Meeting, where the business plan is first defined and implemented.

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Technology Management - New Technology

This workflow describes all the steps required to manage the purchase of new technology. Technology includes, but is not limited to, computers, software, CRMs, financial planning tools, hardware, etc. This workflow is reactionary, meaning it is only initiated when someone identifies the need to replace or purchase a new piece of technology.

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Technology Management - Technology Maintenance

This workflow describes all the steps required to assess and manage the maintenance of technology. Technology includes, but is not limited to, computers, software, CRMs, hardware, etc. This workflow is reactionary, meaning it is only initiated when someone identifies that there is an issue or need to repair the technology.

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  • Marketing

Client Referral

This workflow describes all the steps required to manage and initiate a client referral. In this process, the firm is being proactive about pursuing a client referral, but only after proper measures have been taken to prepare the firm and validate the referral opportunity. This combined with the "COI Referral" workflow for Centers of Influence should become a core part of the firm's referral strategy for lead generation.

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COI (Centers of Influence) Referral

This workflow describes all the steps required to manage and initiate a referral from a Center of Influence (COI). In this process, the firm is being proactive about pursuing a COI referral, but only after proper measures have been taken to prepare the firm and validate the referral opportunity. The process for managing a COI referral versus a client referral differs greatly because it is more strategic and takes a lot more time to develop. This combined with the "Client Referral" workflow should become a core part of the firm's referral strategy for lead generation.

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Event Planning

This workflow describes all the steps required to plan, prepare, and conduct an event. Events can come in many different forms depending on the firm's objectives. Some examples of typical Advisor events include, but are not limited to, client appreciation dinners, topical seminars, networking events, prospecting events, etc. Generally, most firms, depending on the available resources, aim to plan and host 2-4 events each year.

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Social Media Content

This workflow describes all the steps required to initiate and manage the creation and distribution of social media content. This workflow applies to content across all social media channels, including, but not limited to, LinkedIn, Twitter, Facebook, etc. Managing social media content should be treated much differently than traditional marketing content because of the continual need to produce content on an on-going basis while also following compliance procedures.

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Webinar Planning

This workflow describes all the steps required to plan, prepare, and conduct a webinar. Webinars can cover many different topics depending on the firm's objectives. Some examples of typical Advisor webinar topics include, but are not limited to, economic updates, benefits of investing, having a financial advisor, or different planning topics (i.e., tax, estate, retirement, etc.). 

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  • SEI Workflow Library

With more than 45 step-by-step workflows, SEI's workflow library is designed to provide you with a starting point for establishing standardized processes within your practice. Utilize these best practice workflows to document the steps of your most crucial processes or to build workflows into your technology to truly automate and streamline operations.

Gain access to workflows across our 6 core workflow categories:

  • Client Management
  • Service Requests
  • Sales
  • Onboarding
  • Practice Management
  • Marketing

Get started today! Below, you can access the library, pick a workflow, and download our pre-built workflow manuals and diagrams.