Products March 9, 2009

NorthStar Rolls Out Wealth Planning Software

NorthStar Systems International, a provider of wealth management software solutions, unveiled the NorthStar Integrated Wealth Planning Solution.
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The Integrated Wealth Planning Solution is NorthStar’s planning methodology designed for wealth advisers to fit into their daily workflows, the company said in a release.

The wealth management industry has historically used standalone financial planning, asset allocation, or portfolio accounting applications as specific point solutions and/or point-in-time solutions, the company said. With this software, NorthStar “offers a more focused solution to integrate financial planning directly into the portfolio planning, implementation, servicing, reporting, and monitoring processes,” the release said.

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NorthStar said the solution addresses the adviser challenge of integrating the three components of advice:

  • financial plan: providing a financial plan by modeling the cash-flow requirements associated with a client’s goals;
  • client hierarchy and wealth profile: modeling and implementing the ownership structures and account registrations associated with the contractual requirements of a client relationship or a household;
  • investment policy: allowing the capture of investment strategy and policy criteria of a portfolio leading to portfolio implementation, reporting, and monitoring.

Available on-premise or on-demand, the NorthStar Wealth Planning Solution enables firms to generate the following types of wealth plans depending on client needs, according to the release: asset allocation planning, goal planning, education planning, major purchase planning, pre-retirement planning, in-retirement planning, and total return planning. NorthStar said its solution also allows for the creation and monitoring of an investment policy statement.

Deals & People March 9, 2009

Benefits Consultant Sobelman Joins Lockton Northeast

Pauline Sobelman has been appointed vice president—benefits consultant for Lockton in the firm’s northeast operations, based in New York City.
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With more than 18 years of experience with brokers and insurers, Sobelman has consulted clients across all industries, according to a press release. She specializes in developing cost containment, health risk management, and employee retention strategies. She has most recently worked for Corporate Synergies Group in New Jersey and Mercer Health & Benefits in New York in senior benefits consulting roles.

“Human resource leaders and chief financial officers face enormous costs pressures in the current economic environment,’ said Maria McHugh, Lockton’s benefits practice leader in New York, in the release. “Clients will value Pauline’s deep knowledge of how to develop innovative employee benefit programs, improve employee health, and reduce claims costs.’

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Lockton employee benefits practice offers health and welfare brokerage, actuarial consulting, administration counsel, health care consulting, voluntary benefits, health risk management, collective bargaining support, employee communication, and benefits education support.


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