Aditya Birla Minacs Partners With NorthStar For Total Wealth Management

Aditya Birla Minacs, a global business solutions company, has partnered with NorthStar Systems International, a provider of wealth management software solutions to provide a Total Wealth Management package. This newly developed solution combines Aditya Birla Minacs’ integrated back and middle office with Northstar’s fully-integrated wealth management platform to create a service offering to seamlessly support wealth front offices in delivering a superior customer experience.

Total Wealth Management

Over the past years, wealth management has become more personalised as clients increasingly strive for a greater involvement in the managing of their wealth, and for better feedback from their wealth managers. While wealth managers are concentrating on delivering superior service to clients, they are finding that a large chunk of their time gets consumed by operational bottlenecks. This often leads to wastage of time.

The new Total Wealth Management offering from Aditya Birla Minacs and NorthStar provides a solution to this problem. It is a combination of tools and systems, which help wealth managers get out of monitoring operational lapses, thus giving them the freedom to focus on their core function: managing and growing customer relationships. Examples of these middle and back office processes include performance calculations and integration for client reporting output, fee billing calculations, statement rendering and other operational elements of the wealth process.

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Blake Willardsen, Aditya Birla Minacs’ Global Banking and Financial Services Leader, said, “You can be assured that with Minacs and NorthStar’s many years in the business, our Total Wealth Management solution will benefit clients by running for them a cohesive front-office and efficient middle office, integrated with back office technology and processes. This will have an impact on key business measures like scalability, customer service and profitability, while being highly sensitive to risk avoidance and management”.

Bob Skea, NorthStar’s President, added, “We have not come across any other solution as integrated and comprehensive front to back as Total Wealth Management. While tier one financial institutions may have offshored wealth management by setting up captives, this solution brings third-party outsourcing capability to the table for clients, backed by a full-function technology platform for wealth managers. We are delighted to partner with Aditya Birla Minacs to offer our client base this value proposition.”