SEI is to partner with IFA support services firm Paradigm Group to launch a workplace investment platform accessed through JargonFreeBenefits, a front-end flex benefit system to manage workplace pensions, benefits, and payroll.

The workplace platform is designed to allow advisors to provide a broad investment proposition to a range of customers, from the board level director to the entry level employee, said the firm in a statement.

The new system is expected to be launched at Paradigm’s annual conference in September and is said to have functionality including: processing group pension accounts, ISAs, general investment accounts, and deposit accounts.

“Paradigm Pensions' JargonFreeBenefits concept has been designed to radically change the UK workplace pension market following the advent of automatic-enrolment. This tie-up with SEI will give the project the scale and credibility required to make a significant impact,” said Steve Bee, partner at Paradigm Pensions.

“JargonFreeBenefits aims to provide our partner firms with a single platform to provide low-cost product proposition in the workplace under one roof. We expect the corporate market to develop considerably over the forthcoming years and with the changes within the RDR advisers will need to be able to demonstrate holistic value and advice to employees if they are to be retained as clients,” said Paul Hogarth, senior partner at Paradigm.

“With the group’s clear focus on continued growth and service, they are a great fit for SEI, both strategically and culturally,” said Ryan Hicke, managing director at SEI Global Wealth Services UK.

Paradigm Group provides support services to some 500 firms.