Northern Trust (Nasdaq: NTRS), a leading provider of wealth management
services, has been named Best Private Bank for Use of Technology —
North America by Professional Wealth Management (PWM), a Financial Times
Group publication.
PWM’s inaugural Global
Wealth Tech Awards recognized Northern Trust for excellence in the
use of technology and digital communication—particularly its Goals
Driven Wealth Management approach and proprietary Goals Powered
Solutions (GPS) platform. The awards highlight the increasingly
important role played by technology in private banking today.
“Northern Trust continues to expand its technology and infrastructure
within its wealth management arm. The development of private client
tools has proven a major success for the US firm, with the goals-based
wealth management platform particularly worthy of note,” Professional
Wealth Management Editor-in-Chief Yuri Bender said. “The judges felt
that although there are a handful of banks now starting to catch up with
the vanguard, Northern Trust still remains among the leading players in
the technology arena.”
“We are humbled to have been recognized with this Financial Times Group
award, which spotlights Northern Trust’s continued innovation around
improving the client experience through a variety of means, including
digital solutions,” Northern Trust Wealth Management President Steven L.
Fradkin said.
“Transformative technology that integrates digitization and
human-centered design is essential to providing industry-leading,
holistic, goals-driven advice for our clients,” he said. “While
delighted with this acknowledgment of our efforts, we remain committed
to our perpetual restlessness in the innovation process, which is vital
in the continued quest to maintain a superior service and experience for
our clients.”
Northern Trust’s Goals Driven Wealth Management approach leverages
innovative technology to provide clients relevant, impactful advice
tailored to their unique situation and priorities. A thorough review of
a client’s entire balance sheet allows for customized investment, wealth
planning and financing strategies in context of a client’s assets and
their unique goals.
Central to Goals Driven Wealth Management at Northern Trust is the
proprietary GPS platform, which leverages industry-leading algorithms
and a mobile app designed to optimize conversations between clients and
advisors through interactive visuals that simplify complexity and drive
decisions.
Assets under management in the Goals Driven Wealth Management program
grew 200 percent over the past three years.
Northern Trust was also recognized for its online client portal, Private
Passport. Private Passport employs industry leading technology such as
Cloud Foundry and human-centered design, and gives clients access to a
host of self-service capabilities across desktop, iPad and mobile
channels, including the Apple Watch. Reflecting the needs of Northern
Trust clients, Private Passport accommodates mobile check deposits up to
$100,000.
Northern Trust received the award in London on Thursday at the Financial
Times headquarters. PWM will publish the awards in the June/July issue
of their magazine. PWM continues to sponsor the Global Private Banking
Awards, which are announced in the fall. Northern Trust has been named
Best Private Bank in the US for numerous years, including the most
recent award in 2017.
Northern Trust Wealth Management specializes in Goals Driven
Wealth Management backed by innovative technology and a strong fiduciary
heritage. Northern Trust Wealth Management is ranked among the top 10
U.S. wealth managers, with $287 billion in assets under management as of
March 31, 2018, and a wide network of wealth management offices across
the United States. The Northern Trust Company is an Equal Housing
Lender. Member FDIC.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of
wealth management, asset servicing, asset management and banking to
corporations, institutions, affluent families and individuals. Founded
in Chicago in 1889, Northern Trust has offices in the United States in
19 states and Washington, D.C., and 23 international locations in
Canada, Europe, the Middle East and the Asia-Pacific region. As of March
31, 2018, Northern Trust had assets under custody/administration of
US$10.8 trillion, and assets under management of US$1.2 trillion. For
more than 125 years, Northern Trust has earned distinction as an
industry leader for exceptional service, financial expertise, integrity
and innovation. Visit northerntrust.com
or follow us on Twitter @NorthernTrust.
Northern Trust Corporation, Head Office: 50 South La Salle Street,
Chicago, Illinois 60603 U.S.A., incorporated with limited liability in
the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/disclosures.
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