Software
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Are your client reports and reviews competitive?
A leading firm found that meaningful, monthly reporting resulted in 89% loyalty, while annual reporting resulted in only 57% loyalty. If your reports and reviews are not frequent and meaningful, you could lose key clients.
The NorthStar Client Reporting Solution provides wealth managers increased opportunities to solidify, broaden and retain client relationships through tailored, compliant reports and reviews, delivered proactively and frequently. Using the Client Reporting Solution, advisors can:
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Achieve a highly professional, prepared client-facing presence.
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Demonstrate their past and future value-added services.
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Validate their portfolio management and asset allocation.
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Recommend additional products to increase assets under management.
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Execute a strategic personalized reporting plan for each affluent client, delivering consolidated or scheduled reports, ad hoc reports, and tailored client reviews.
The NorthStar Client Reporting Solution allows wealth managers to:
- Save time producing client-facing material through centralized client profiling, easily customized document design templates, and automation reliability.
- Increase client satisfaction and retention by proactively delivering reports and reviews that provide a long-term vision of performance and a context for investment selection through benchmarks, market updates, and research.
- Improve client service through built-in tracking of the client review process, including alerts and an audit trail.
- Reduce client turnover by generating reports that show all beneficiaries in a client’s network, proactively ensuring that inter-generational wealth transfers remain within the firm.
- Gain additional assets under management through holistic reports of client’s entire net worth, including external holdings.
- Broaden client relationships, allowing advisors to introduce new firm-recommended products.
- Strengthen compliance through firm-approved report templates with up-to-date disclosures and disclaimers.
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Key Capabilities
- Tailored, consistent automated and ad hoc client reviews and consolidated reports covering internal and external assets and liabilities
- Sophisticated, collaborative design tools to create and customize report templates
- Tracking of client review process
- Complex analytics covering asset allocation, style, risk and products, providing an in-depth understanding of investment approach and success, using sophisticated, configurable charting engine
- Flexible, configurable classification schemas for products and asset classes
- Flexible, configurable reporting parameters such as recipient address, report sections, delivery mode, and delivery frequency, on a client-by-client basis
- Market, research, and product data sources to provide context
- Personalized, consistent reports on client portfolios across many client relationships using multiple views
- Client report document retention, management, and retrieval
- Net worth, portfolio, and balance sheet analysis
- Report processing queue management
- Optional report batch processing capabilities
- Error handling and report validation framework
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