Northern Trust brings in new planning technology

FWR Staff

9 October 2007

Wealth-management giant looks to Commerce Bancorp's advisor-tech provider. Northern Trust has selected eMoney Advisor to provide financial planning solutions for its Personal Financial Services (PFS) advisors.

"Financial planning provides a context for our clients to manage their financial life," says Northern Trust v.p. Jim Kearney. "With eMoney, our advisors address a client's individual needs and help them with expert advice based on up-to-date data and research that will lead to better informed decision making."

Aid to holistic approach

Using eMoney's technology, advisors and their clients can monitor portfolios in real time, identify strengths and weaknesses in allocations, and get a "360-degree view" of assets and liabilities.

Edmond Walters, founder and CEO of Conshohocken, Pa.-based eMoney, says he and his colleagues look forward to working with Northern Trust to help its advisors "offer holistic advice that accounts for all aspects of a client's life, goals and financial needs."

eMoney is a wholly owned subsidiary of Commerce Bancorp. Last week Canada's TD Bank Financial Group agreed to acquire Cherry Hill, N.J.-based Commerce, which has over 450 branches in New York, New Jersey, Pennsylvania, the District of Columbia and Florida. In 2005, TD acquired Portland, Maine-based BankNorth, which, as TD BankNorth, operates roughly 600 branches in Maine, New Hampshire, Vermont, Massachusetts, Connecticut, New York, New Jersey and Pennsylvania. TD is also a part owner of TD Ameritrade, a retail and institutional broker-dealer.

Northern Trust PFS provides integrated financial services to high-net-worth individuals, families and family offices. It had $319.2 billion in assets under custody and $144.4 billion assets under investment management on 30 June 2007. -FWR

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