NorthStar Selected by SunTrust for its Compliance Solution Technology

16 January 2009

NorthStar Systems International, a leading provider of wealth management software solutions, today announced that SunTrust Banks, Inc. has selected the NorthStar Compliance Solution for use in its Private Wealth Management line of business to enhance its management of investment policy compliance risk.

Best practices demonstrate that a key way to improve client service and deliver competitive investment solutions is through understanding and monitoring of clients’ objectives and constraints. The accurate preparation and maintenance of Investment Policy Statements is a key component to clarifying client goals. The NorthStar Compliance Solution allows investment managers to capture this vital information, create Investment Policy Statements as well as to analyze client portfolios on the basis of their individual needs and audit them according to compliance requirements. This monitors risk and cost while promoting higher client service levels.

SunTrust selected the NorthStar Compliance Solution mainly due to a shared commitment to providing the highest quality of client service. “The NorthStar Compliance Solution enables our advisors to automatically incorporate compliance best practices into our entire private wealth management workflow. The platform’s householding and comprehensive approach to the compliance process provides an important tool to mitigate risk and enhance our client relationship management,” said Andy Muldoon, Executive Vice President at SunTrust Bank. “The extreme market volatility has made it more important than ever for wealth managers to closely monitor the financial needs and preferences of their clients,” said V. Balasubramanian, Senior VP, Professional Services, NorthStar Systems. “The NorthStar Compliance Solution is a crucial tool for firms to strengthen their ‘know your customer’ efforts, reduce risk, enhance client service and ultimately improve their ability to attract and retain assets.”

The NorthStar Compliance Solution is available as a stand-alone system, or as part of the complete NorthStar Desktop, delivered on-premise or on demand.

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