2010 was a strong year of growth for the SEI Advisor Network, which increased its total number of advisors by more than 60%.

The Oaks, Pa.-based investment management business reported it signed on 406 new registered investment advisors, increased its assets under management to more than $31 billion and generated $5 billion in new receipts last year.

"In 2010, a record number of advisors joined our ranks--not only because of our differentiated investment strategies, but also because of our deep practice management expertise and our ability to help grow their businesses through customized solutions and support," said Wayne Withrow, executive vice president and SEI Advisor Network Business Unit Leader. "These individuals are true professionals, committed to excellence and determined to provide their clients with the best services available."

To date, SEI provides more than 6,000 advisors with wealth management services, back office and administrative services and investment solutions. The company said it broadened its practice management capabilities in 2010 to include the launch of its practice management workshops. The workshops are a series of in-person sessions and webcasts to teach advisors best practices in areas such as time management and practice efficiency, client service, marketing and prospecting and succession planning. SEI also launched its Ready-4-Reform program in 2010, aimed at preparing advisors for the new regulatory environment and pending legislative changes.

The SEI Advisor Network provides turnkey wealth management services to financial advisors through outsourced investment strategies; administration and technology platforms; trust, banking, and institutional services; and practice management programs.