Oaks-based SEI Investments furthered their reach into fintech by acquiring the Boston-based tax management tech company LifeYield, reports Jeff Blumenthal for the Philadelphia Business Journal.

The new acquisition enables SEI to offer real-time, automated, unified household capabilities to its clients and advisory firms. The LifeYield tech allows their advisers to optimize a client’s after-tax returns.

LifeYield was founded in 2008 by Mark Hoffman to improve the tax side of investing at a large scale.

SEI’s CEO Ryan Hicke said that the company is looking to seek partnerships and acquisitions to help incorporate new ideas from startups. This is part of a broader plan to source ideas from outside leadership. They brought on Sneha Shah from the London Stock Exchange business accelerator as the head of new business ventures to lead the project.

Last February, SEI invested $10 million in New York wealth management platform TIFIN, which uses AI technology.

Read more about SEI’s acquisition of LifeYield in the Philadelphia Business Journal.