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.
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 analyse 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.
“The NorthStar Compliance Solution enables our advisors to automatically incorporate compliance best practices into our entire private wealth management workflow,” says Andy Muldoon, executive vice president, SunTrust Bank.
“The platform’s householding and comprehensive approach to the compliance process provides an important tool to mitigate risk and enhance our client relationship management.”
“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,” says 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.”
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