UK-based private client wealth manager Berry Asset Management has announced an administration partnership agreement with US investment and technology firm SEI.

The development will ensure that Berry is “well-positioned to maintain its consistently high-quality customer service offering”, the firm said in a statement.

“By investing in SEI’s market-leading technologies, and working in close collaboration, we can focus on our core activity, managing assets (and investment reporting) for high net worth individuals and supporting our introducers, whilst SEI delivers some, but not all, of the administration support function,” said Jamie MacLeod, chief executive of Berry.

In other related news, SEI appointed Richard Goodall as managing director for its UK business transition in global wealth services at the end of last year, in an ongoing effort to strengthen the firm's management team.

In the same month, the SEI also created a service to tighten oversight of hedge funds, and similar vehicles, for registered investment advisors of private funds facing new regulations.