PWM advisors prompted to boost review and monitoring of investment policies. SunTrust Banks has chosen NorthStar Systems International's Compliance Solution in a bid to boost investment-policy compliance risk in its Private Wealth Management business line.

The idea is that the accurate preparation and maintenance of investment policy statements is a key component to clarifying client goals -- and that understanding and monitoring clients' objectives and constraints is critical to client services.

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"The NorthStar Compliance Solution enables our advisors to automatically incorporate compliance best practices into our entire private wealth management workflow," says SunTrust executive v.p. Andy Muldoon. "The platform's householding and comprehensive approach to the compliance process provides an important tool to mitigate risk and enhance our client relationship management."

NorthStar's professional-services chief Venkataraman Balasubramanian says recent extreme market volatility "has made it more important than ever for wealth managers to closely monitor the financial needs and preferences of their clients." Atlanta-based SunTrust had total assets of $174.8 billion at the end of September 2008. San Francisco-based front-office technology maker NorthStar has been in business since 2001. -FWR

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