December 15, 2020
Pacific Premier Bancorp Announces the Conversion of Pacific Premier Trust's Wealth Business Operating System to SEI Wealth Platform
IRVINE, Calif.--(BUSINESS WIRE)-- Pacific Premier Bancorp, Inc. (Nasdaq: PPBI), the holding company of Pacific Premier Bank (“Pacific Premier”, “the Bank”), announced today that Pacific Premier Trust, a division of Pacific Premier, will convert its wealth business operating system to the SEI Wealth PlatformSM (“SWP”) during the first half of 2021. Pacific Premier Trust’s decision to convert its wealth business operating system is one of several initiatives undertaken to enhance its operational efficiency and fully leverage the scalability of its IRA custodial services.
SWP is a fully-integrated, single-infrastructure technology solution that provides front-, middle-, and back-office services and supports an end-to-end, advanced digital experience for wealth management organizations, their clients and other service providers to those clients, such as IRA custodians. SWP supports trading and transactions on 137 stock exchanges in 42 countries and 43 currencies, through the use of straight-through processing and a single operating infrastructure environment. The conversion will provide Pacific Premier Trust with access to SEI’s comprehensive client integration strategy, which includes an extensive API offering featuring an ecosystem of web services geared toward the wealth and asset management industries.
Rich Immesberger, Senior Executive Vice President of Pacific Premier and President of Pacific Premier Trust said, “I am pleased to announce the planned conversion of our wealth business system to the SEI Wealth Platform. The SEI platform and SEI’s API integration offering will significantly support our future growth aspirations, enabling us to better serve and expand our current client base, while differentiating our services to attract new clients. In addition to streamlining and simplifying our business and technology infrastructure, we will enhance our clients’ and their advisors’ wealth management experience by more efficiently delivering them fully integrated custodial services.”