News
NorthStar and NaviPlan Partnership Extends Wealth Management Offering
SAN FRANCISCO—October 13, 2005: — NorthStar Systems, a leading provider of enterprise wealth management solutions to the financial services industry, today announced a strategic partnership with Emerging Information Systems Inc. (EISI), the developer of NaviPlan software. This partnership brings the industry standard in financial planning, the NaviPlan Enterprise Solution, together with NorthStar’s Wealth Management offering to deliver the seamless integration that advisors and their firms demand.
NorthStar and EISI are teaming to build joint workflow and functionality around financial planning, including seamless integration to investment selection and portfolio management processes. The integrated solution improves advisor productivity, reduces compliance risk for the firm, and facilitates a more holistic relationship between advisors and their clients—helping the advisor gain more share-of-wallet from the client.
Initially, the EISI/NorthStar partnership will include the following capabilities:
- Linking Financial Planning to Investment Selection: Once a financial plan has been created in NaviPlan, an advisor can easily construct a portfolio and select investments based on multiple criteria, including firm models, sector analysis, recommended lists, or portfolio optimization. In addition, advisors or portfolio managers can create an Investment Policy Statement in the NorthStar solution to actively manage the implementation of the financial plan in a compliant process.
- Plan Monitoring: Given the seamless integration, advisors can actively monitor their NaviPlan financial plans, tracking ‘actual’ versus ‘plan’ and ‘current’ versus ‘target’ allocation. Professional-quality progress reports can be generated on a regular or ad-hoc basis.
- Two-way Alerts: Integrated, two-way alerting between NorthStar and NaviPlan supports proactive management of the financial plan. Plan status alerts are passed between the solutions, notifying the advisor that active management is required or has been taken around the implementation of a financial plan. Alerts can also be set to call attention to a portfolio when it drifts from the financial plan or is due for a financial review.
Both firms leverage contemporary, enterprise-class technologies, including J2EE, XML, and .NET, which allow key planning and investment attributes to be passed between the platforms. As a result, NorthStar’s portfolio planning, investment selection, and portfolio management capabilities can be seamlessly added to existing NaviPlan deployments, extending both the NaviPlan and the NorthStar workflows. The EISI/NorthStar integration is currently available to enterprise firms.
Collin Cohen, Office of the Chairman of NorthStar, said: “Our partnership with the financial planning market leader, EISI, represents the next generation of integrating disparate wealth management capabilities into a single advisor workstation. The result will enable advisors to better serve their clients. The partnership with EISI is an important addition to our strategic alliances with leading providers such as Reuters (LSE: RTR, NASDAQ: RTRSY) and Ibbotson Associates. The combination of these relationships allows us to provide integrated best-of-breed data, analytics, and financial planning capabilities to our customers.”
“NorthStar’s Wealth Management offering is a natural complement to our financial planning solutions,” added Mark Evans, founder and CEO of EISI. “NaviPlan’s focus on providing best-in-class financial planning capabilities has led to our unparalleled success in the market. With this partnership, we can now help firms more easily translate financial plans into actionable and compliant investment recommendations.”
About EISI
Founded in 1990, EISI is a pioneer in developing productive software solutions for financial advisors. Its staff of 230 professionals is solely committed to the NaviPlan product line, which is licensed to more than 70,000 financial professionals and customized for more than 40 financial institutions across North America.
The NaviPlan suite of software addresses the full spectrum of wealth management concepts. Its fully integrated and modular design makes NaviPlan a flexible planning tool for advisors serving all segments of the financial services market. For more information on EISI and NaviPlan, visit www.eisi.com.
About NorthStar Systems
NorthStar is a leading provider of enterprise wealth management software solutions to financial services institutions, including broker dealers, banks and trusts, asset managers, and service providers to Registered Investment Advisors. NorthStar provides a suite of software solutions that empowers financial advisors and their teams with full lifecycle advisory capabilities to acquire and manage client assets in a holistic and compliant manner. NorthStar is backed by venture capital firms Benchmark Capital, H.I.G. Capital, and Chess Ventures, as well as Silicon Valley Bank, and leading financial services institutions including Goldman Sachs, Morgan Stanley and Merrill Lynch. For additional information, visit www.northstar.com.
Contact:
Cindy Bennett
Director, Marketing
Emerging Information Systems Inc.
(888) 692-3474 ext. 3121
cindy.bennett@eisi.com
Vince Crivello
NorthStar Systems, Inc.
Tel: 415-344-6100
vcrivello@northstar.com
