The UK-based fintech firm has signed a seven-year contract with the UK private banking arm of SEI.

Fusion Wealth, the technology solutions provider for wealth managers and financial planners, has extended its partnership with SEI UK Private Banking for seven years.

The relationship between the two companies began in 2011, and since then Fusion has grown to support more than 30 wealth management firms and private banks via the SEI Wealth Platform. Fusion now has almost £2 billion ($3 billion) in assets under management.

The SEI Wealth Platform provides integrated wealth management infrastructure by which Fusion’s client base can actively manage their customers’ portfolios.

“The wealth management industry is changing extremely fast, meaning more and more firms are partnering with businesses that have institutional capabilities and can keep pace with complex legislation and regulations,” said Brett Williams, managing director at SEI Wealth Platform, UK Private Banking. 

“Our partnership with the business has been instrumental to our continued rapid growth and has given us the opportunity to deliver a completely seamless end-to-end proposition to our clients,” said Ian Cooke, chief executive at Fusion Wealth.

The deal comes after SEI's agreement in September to extend a contract with the UK’s Tilney Bestinvest.