NorthStar Marks 10-Year Anniversary

Holding Company's Subsidiaries Offer Advisors Unique Services to Help Maintain Independence and a Competitive Edge

Jan 29, 2013, 09:08 ET from NorthStar Financial Services Group, LLC

OMAHA, Neb., Jan. 29, 2013 /PRNewswire/ -- NorthStar Financial Services Group, LLC (NorthStar), a holding company for several subsidiaries which manage and service financial assets, has marked the 10-year anniversary of its founding by two veterans of the financial services industry, Michael Miola and the late W. Patrick Clarke.

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Mr. Miola and Mr. Clarke created NorthStar in January 2003 to join together the unique companies they individually established, and to empower investment advisors by offering them a wide range of financial services, including mutual fund servicing, back-office technology and asset management. Ten years later, NorthStar has more than $120 billion in assets under administration and management, employs a staff of over 450 and operates offices in multiple cities.  

"NorthStar and its subsidiaries could not have reached this milestone without the dedication of its founders and staff to empowering investment advisors by continually harnessing opportunities across the financial services sector," said Todd Clarke, Chief Executive Officer of CLS Investments, LLC (CLS), NorthStar's Registered Investment Advisor subsidiary. "We grew out of a need in the marketplace for investment advisors to leverage an innovative organization built to meet their needs as well as their clients' needs."

Mr. Miola founded American Data Services, Inc. (ADS), which would later become Gemini Fund Services, LLC (Gemini), in 1983. Thirty years after its establishment, and 10 years after its inclusion in the NorthStar organization, Gemini is a leading provider of comprehensive, pooled investment solutions, overseeing more than $17 billion in assets under administration and continuing to grow. Gemini's assets under administration include the firm's shared fund trusts (Northern Lights Fund Trust I, II and III, as well as Northern Lights ETF Trust, Northern Lights Variable Trust and Two Roads Shared Trust).

W. Patrick Clarke was one of the pioneers of fee-based financial advice, having crafted a methodology for individual investing based on clients' goals, stage in life, risk tolerance and other personal circumstances. By 1988, other financial planners were asking Mr. Clarke to utilize his approach for their clients, which led him to focus on becoming a third-party asset manager. In 1989, Mr. Clarke helped create an independent asset allocation firm, which eventually became CLS. Because its own initial growth was constrained by its time-consuming portfolio administration processes, the firm saw an opportunity to create a back-office technology solution that would allow advisors to focus on building client relationships, rather than account processing. Originally named AdvisorLynx, this integrated portfolio accounting solution was eventually spun off as a separate company, Orion Advisor Services, LLC (Orion). Eric Clarke, son of W. Patrick Clarke and brother of Todd Clarke, serves as President and CEO of Orion, which now services over $100 billion in assets for over 300 investment advisors. CLS has grown to over $3.6 billion in assets under management and remains focused on delivering W. Patrick Clarke's innovative wealth management methodology.

In addition to Gemini, CLS and Orion, Mr. Miola and Mr. Clarke also created additional NorthStar subsidiaries to provide services to independent investment advisors. These include Northern Lights Distributors, LLC, founded in 2004 to distribute mutual funds and maintain securities licenses; Northern Lights Compliance Services, LLC, created in 2004 to offer the services of independent chief compliance officers; Gemcom, LLC, a subsidiary established in 2004 to provide Edgarization and printing services; Constellation Trust Company, an affiliated company established in 2005 to offer custody services for assets under the NorthStar umbrella; and Advisor Studios, a division established in 2011 as a multi-disciplinary creative firm, empowering advisors through video, web and mobile expertise.

"The wide range of services and technology provided by NorthStar allows small and mid-size advisors to achieve levels of success they may not be able to obtain on their own," said Todd Clarke. "A strategic partnership with one of NorthStar's companies allows advisors to remain independent and grow their offerings, as well as run more efficient and profitable businesses."

For media inquiries, please contact Dana Taormina at 973-850-7305 or

About NorthStar Financial Services Group, LLC

NorthStar Financial Services Group, LLC ( was founded in 2003 as a holding company for several subsidiaries which manage and service financial assets.

Each NorthStar company offers unique services within the financial industry, including professional money management, pooled investment solutions, integrated technology applications and compliance services. Together our synergy helps investment advisors enhance their service to clients, increase their operational efficiencies and expand their businesses.

NorthStar continually strives to innovate and develop products and services, through its subsidiaries, to strengthen our partners and provide tools and resources to empower investment advisors.


Dana Taormina



SOURCE NorthStar Financial Services Group, LLC