EDISON, N.J., Nov. 17, 2015 /PRNewswire/ -- Fi-Tek LLC ("Fi-Tek"), a long term technology provider to Northern Trust, has extended its relationship to support a new investment advisory program recently launched by Northern Trust Asset Management.
Northern Trust's Managed Account Solutions are designed to provide trust and community banks, registered investment advisors and broker-dealers with access to a comprehensive open architecture investment platform. Fi-Tek's technology seamlessly combines Northern Trust's broad investment product suite with essential wealth management platform functionality in a single customizable and scalable program.
"As demand for managed account solutions continues to grow, Northern Trust has leveraged its deep wealth management experience and more than 30 years of investment manager research to create contemporary investment programs for a variety of markets," said Melinda Mecca, Managing Director of Managed Account Solutions at Northern Trust Asset Management. "Participating advisors can access a wide array of investment options, as well as guidance around portfolio construction, strategic and tactical global asset allocation and the delivery of risk-managed solutions for a broad range of investor goals."
The Northern Trust program is built on Fi-Tek's leading edge wealth management platforms – Global Wealth Enterprise Solution™ (Global WealthES) and TrustPortal. Fi-Tek's integrated managed account platform, Global WealthES, enables advisors to leverage Northern Trust's solutions to maximize practice efficiency and create a more disciplined portfolio management process, while retaining the desired level of firm discretion on security selection, asset allocation and portfolio rebalancing.
Fi-Tek's Global WealthES is a fully integrated global multi-currency solution that supports the entire lifecycle of wealth management from financial planning, trading and investment management, accounting, compliance, performance measurement, operations and reporting. The integrated nature of the product enhances productivity and allows clients to run their back-office with great efficiency and less risk – reducing total cost of operations as much as 30% over existing platforms. Deployed over private and secured networks, the solution is highly scalable to meet the requirements of institutional providers.
"Fi-Tek has invested heavily in new technology and in developing wealth management lifecycle functionality to make Global WealthES, an efficient, and market leading solution to help our clients manage their businesses more efficiently," said Subir Chatterjee, President & CEO of Fi-Tek. "We continuously enhance our systems to help our clients meet tomorrow's challenges, and we are delighted to have a sophisticated provider like Northern Trust select our platform."
Fi-Tek is a leading provider of technology platforms and solutions to wealth management and alternative investments with a diverse client base that currently consists of financial institutions, including Private Banks, Trust Banks, Hedge Funds and Hedge Fund Administrators, Broker/Dealers, Family Offices and RIAs. Across all technology platforms, Fi-Tek has over 450 clients worldwide, ranging in size from $200 million to $80 billion, with a combined AUM of over $1.3 trillion. Additional information about Fi-Tek and its solutions may be found at www.fi-tek.com.
Media contact: Danielle Gogan, 732-632-8174
SOURCE Fi-Tek LLC