SEI Advisor Network said it added 488 RIAs and had $7.1 billion in new business in 2012, representing a growth level in 2011 of over 40% for the Oak, Pa.-based wealth-management services firm. In 2011, the firm added 337 RIAs.

The SEI Advisor Network now has about 4,900 independent advisors as clients and $33.75 billion in advisors’ assets under management versus some 4,500 advisors and $30.44 billion in assets a year ago.

“We’ve invested heavily in our business in terms of the investment strategies, technology and support services we provide to advisors, and the three straight years of strong growth for SEI is a testament to how our solution is helping advisors drive growth as well,” said Wayne Withrow, executive vice president and SEI Advisor Network business-unit leader, in a press release.

The SEI unit, which focuses on investment solutions, practice-management support and back-office administrative services, launched four tactical funds in 2012 that attracted more than $2 billion in new assets, according to the company. It also expanded its separately managed accounts business with themes such as dividend focus, managed volatility, preferred stocks and alternatives, from specialist investment managers.

Asset flows from new advisors into some funds and SMAs totalled $1.6 billion in 2012 vs. $913 million in 2011. 

In addition, the SEI Advisor Network—part of SEI—introduced a new set of support services and expanded offerings in the tax-management area. Its new wealth platform was tested with a pilot group of advisors in 2012 and should be rolled out this year.

“We know the advisor market is more competitive than ever before, and with the recent launch of new ETF strategies, an expanded separately managed account (SMA) offering, and the planned launch of our new wealth platform, we are confident that our solutions will continue to help advisors gain the edge they need to compete, differentiate, and grow,” Withrow said. “We expect 2013 to be another banner year for SEI and our clients.”

According to SEI’s quarterly results released on Wednesday, SEI’s investment-advisor unit had sales of $52.5 million, up 16% from $45.1 million last year. The unit’s operating profit was $20.8 million, a jump of 19% from $17.5 million in the fourth quarter of 2011.