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Welcome!
This year, the wealth management industry is expected to grow 6.5% globally and 10% in the United States alone (Source: Capgemini/Merrill Lynch World Wealth Report), ensuring another year of major growth and opportunity. At the same time, the industry is growing more competitive with a wide variety of financial service firms and service providers actively vying for high net worth clients. The challenge for those who want to compete in this market is how to increase assets under management from both new and existing clients, while keeping practice costs down. To help you navigate the growth opportunities and challenges, NorthStar is pleased to introduce The NorthStarNavigator(TM), a periodic newsletter covering industry news, best practices, trend analysis, regulatory updates, and other actionable information that will help your wealth management business succeed.
NorthStar is a leading provider of wealth management technology solutions and created the industry’s first wealth management ecosystem. Through interactions with our partners, advisory board, customers, analysts, and other industry luminaries, we have unique access to the latest advances in wealth management business transformation. We hope this newsletter will be an effective way to share these insights.
We welcome any and all feedback about how we can make this newsletter even more useful to you. Please email us at thenavigator@northstar.com.
Sincerely,
| Bob Zangrillo |
Collin Cohen |
| CEO, NorthStar |
President, NorthStar |
2007 Outlook
Top 10 Wealth Management Trend Predictions
It is that time of year again. It is time for New Year’s resolutions and predictions for 2007. In fact, several industry leaders have already published their predictions. For instance, Gartner predicts Microsoft Vista will be the last edition of Windows. IDC predicts Microsoft’s ways will drive buyers to Linux products.
Read about the top trends »
Reg 9: A Differentiation Opportunity
Position your firm as secure by complying with Reg 9
Are you looking for ways to differentiate your firm? If so, consider regulations There are several benefits to proactively responding to regulations such as Reg 9 — the Code of Federal Regulation 12, Part 9 (Fiduciary Activities of National Banks). One benefit is cost savings.
Read more about Reg 9 »
Survey Offers Insights into New High Net Worth Individuals
Young and new rich want financial security
Calibre, the nation’s third-largest multi-client family office and subsidiary of the Charlotte, North Carolina-based Wachovia Corporation, has released results of an online survey capturing a snapshot of a rarely studied population: young, professional and very wealthy.
This newly wealthy but under-served population has created great long-term business opportunities for High Net Worth (HNW) managers and advisors.
Learn more about the needs of the newly wealthy »
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Firms are shifting IT spending from back office to front office technology to better support client acquisition and retention initiatives. (Source: Investit Annual IT Survey)
Learn how NorthStar’s sophisticated know-your-customer, client- reporting, document-management and audit-trail capabilities can help your firm comply with stringent regulations.
View the demo »
NorthStar has developed the industry’s first wealth management partner ecosystem.
Learn more »
Find out how much you can increase revenue by implementing a SOA-based integrated advisory desktop.
Learn more »
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