CHICAGO--(BUSINESS WIRE)--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.