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© 2009 Northern Trust Corporation

northerntrust.com

FALL

FOCUS


2009

INVESTMENT CONFERENCE


Subir Chatterjee

CEO, Fi
-
Tek

Technology Trends in Wealth Management

Ramsey El
-
Fakir

CIO, Fi
-
Tek

2

2009 Fall FOCUS Investment Conference

Wealth Management Business Drivers


Continued Asset Accumulation by Baby Boomers


Continued aging of baby boomers


They will hold a significant portion of personal trust assets


Large growth expected in High Net Worth households


Increased Regulation and Compliance


Compliance will continue to be a key business priority


KYC, AML, pre and post trade compliance Sarbanes
-
Oxley


This will continue to increase in light of impending regulations


Selling Clients Multiple Products


WM model has been fragmented by products


investments,

brokerage, banking, credit, insurance, trust, retirement


The challenge is how to bring the client under one roof

with a single RM supported by Product Specialists


Cross sell


Open Architecture Adoption for Products


Need for integrating more third party independent products

vis
-
à
-
vis in
-
house ones


Integration challenges


Potential regulatory scrutiny in light of what happened in 2008

Technology trends are primarily being driven
by several key business drivers.

3

2009 Fall FOCUS Investment Conference

Wealth Management Business Drivers


Customer Centricity


Most wealth management firms would like to be “trusted advisor”
to their clients


Especially transaction providers like B/D want to get into “advice”
to increase asset stickiness


FP, advisory, data integration tools


Rise of the Mass Affluent


Defined by clients with assets between 500K to 2 MM


Under
-
serviced by WM


Need better tools for economic servicing of clients


have to
lower unit cost of service delivery


Increased Customer Sophistication


Baby boomers will be challenging clients


A lot of do
-
it
-
yourselfers in the group will demand sophisticated
tools for research, analysis and reporting


Competitive Business Environment


WM firms of all sizes


small
-
medium
-
large are getting ready

to mount an assault on “acquiring, keeping and increasing the
wallet” of their clients


Technology will be a key differentiator

4

2009 Fall FOCUS Investment Conference

Wealth Management Technology Trends


Customer Data Integrations


Firms find it challenging to have a common platform for CRM to integrate all client info


ML has gone to SalesForce.com goes to show the length to which they will go to accomplish this


Many are struggling with 2
-
3 platforms internally


Integrated or Seamless Compliance Tools


To meet with regulatory issues many have brought in KYC, anti
-
money laundering

systems at a firm
-
wide level


Extremely important to have automated Reg
-
9 reviews, investment reviews


Pre and post trade compliance to reduce risk and automate process


Financial Planning and WM analytics


Asset allocation and modeling


Validation of third party models or internal models in different market conditions


Tactical Financial Planning


goal based approach or return based approach


Trust Life Expectancy analysis


What
-
if analysis


Proposal generation


Client Reporting


Consolidated reports with drill down capabilities


Performance reporting with trends and benchmarking


Multiple targets for data


client advisors, FA’s, clients and their contacts


Electronic and manual delivery channels

Technology plays a key role in addressing these business challenges.

5

2009 Fall FOCUS Investment Conference

Wealth Management Technology Trends


Account Aggregation


Clients are driving this


they want to see all their assets in a single report


WM firms want to increase their size of client’s wallet and would need

to see full data to be the trusted advisor


Challenges remain


reliability of third party data


Advisory Workstation Integrated Desktop


This is extremely critical for efficient management of information

and processes


Reduce risk (compliance alerts)


Identify opportunities (client gets new cash into the account)


Enhanced client service delivery model


Data Risk Management


We live in the age of ID theft


Huge liability with secured client data


Secured client communication tools like Tumbleweed

6

2009 Fall FOCUS Investment Conference

How Does Fi
-
Tek Address These Trends?

Accounting

Investment

Management

Reviewer

Reporting &

Statements

Client

Reports

Web Based

Reports

Adhoc

Reporting

Service

Providers

Equity

Brokers

Third Party

Applications

Production Database

Consolidation Database

Extraction

Generic’

API

Assets Held

Elsewhere

Third Party

Information

Replication

Contact

Mgmt

Institutions

Clients

OFAC Compliance

Electronic

Fixed Income

Data Vendor

Auto Asset Setup

Phase 1


incorporate 3
rd

party held assets to report or
query alongside of held
assets

Models

Prospect
Management

Wealth Management Platform

Financial
Planning

Account

Workflow

Enhanced
Performance

Asset
Allocation
Modeling

TrustPortal with Wealth Management

Integrated Desktop

Fi
-
Tek and Northern Trust have developed an integrated solution for the trust
and investment management community addressing many of these trends

7

2009 Fall FOCUS Investment Conference

Integrated Total Solution


Brand new .NET Technology with scalable database


Integrated with Northern’s Custody and Global Processing Capabilities


Completely integrated straight thru solution to help you grow your business

Client Bank

8

2009 Fall FOCUS Investment Conference

Major Functionalities


Wealth Management Analytics and Financial Planning tools


Investment Management and Transaction Processing


Portfolio Management


Trading


Market execution


Compliance


pre and post trade, rules driven set up


Accounting and Securities Processing


Full trust accounting with the P&I split


Tax lot accounting


Most robust accounting platform in the industry


Automated Account Review


Performance Measurement


Reporting


Internal operations, compliance and administration reports


External


investors or client reports and statements online


Third Party Interfaces


for pricing, tax, compliance etc.

© 2009 Northern Trust Corporation

northerntrust.com

FALL

FOCUS


2009

INVESTMENT CONFERENCE


Appendix

About Fi
-
Tek

Integrated Wealth Management Solution

10

2009 Fall FOCUS Investment Conference

About Fi
-
Tek


Provides industry leading business solutions for

wealth management


Started operations in 1998 by combining technology
with business knowledge


Run by senior managers from Fortune 500 financial
services companies


Expertise in our clients’ business and work to solve the
right problem!


Over 150 financial institutions with over $700 Bn dollars
in assets under servicing are using Fi
-
Tek software to
run their key business functions


Work with major financial institutions like Citigroup,
Morgan Stanley Smith Barney, JP Morgan Chase, Bank
of New York
-
Mellon, State Street, Northern Trust, and
some of the major hedge funds


Excellent financial health


with a strong balance sheet
and high D&B rating


Successfully competing with the majors


SunGard,
Metavante, Advent and SEI

11

2009 Fall FOCUS Investment Conference

Business Solutions Overview


TrustPortal Wealth Management Platform


Trust and investment management on a single,

web
-
based platform for trust banks and institutions


HedgeTek


Hedge Fund Partnership Allocation


Industry
-
leading, fully integrated book and tax

allocation platform for hedge funds, and other

securities partnerships requiring 704C allocations

12

2009 Fall FOCUS Investment Conference

Solution for Trust Banks


Fi
-
Tek and Northern Trust have developed a total solution for the
trust and investment management community


primarily geared
towards the trust banks


Northern Trust is a leader in Wealth Management and provides all
banking related services


such as custody, research, securities
lending and short term investments


Fi
-
Tek provides the state of the art TrustPortal platform to deliver a
suite of functionality for front, middle and back
-
office services

13

2009 Fall FOCUS Investment Conference

Portal Dashboard


Portal Dashboard


Efficient tool for everyday work with quick access to function

that are used on regular basis


Customized per user so they see the functions that they use the most


Look up Account / Contacts


Efficient manage Account upcoming events /

Ticker through Calendar Widgets


Create customized memo ticker for each Account on different

areas that need attention.


Get alerts on the Calendar


Release the tickler when you have done with them so they

cycle to the next period


Customize your news as RSS feed. Be actively alerted for

any market activity


Use our Map widget to locate the address for a onsite visit to client.

Pull up the contact and map widget will give you the destination plotted.


Get Alerts:


Work on Account exception than going through all Accounts


Alerts:


Excess Cash


Cash shortfall


Out of variance alerts for Account

associated to Asset allocation Model


Be informed if Account has securities

not on your approved list.

14

2009 Fall FOCUS Investment Conference

Wealth Management Analytics


Full suite of wealth management analytics to help develop
asset allocation models based on customer risk profile and
provide tools to generate financial planning options


Enable portfolio managers to define investor needs through

a series of questions


Set risk tolerance, as well as goals and objectives


Define current conditions of investor


Through sophisticated analytics generate portfolio models to

meet investor needs based on current and future scenarios


Provide portfolio managers tools to match the simulated models

with the models currently used


adjusting the likelihood of

attaining goals

15

2009 Fall FOCUS Investment Conference

Illustration: Base Plan

Some goals are not met in over 25% of the projected futures.

Plan adjustments are needed for a better guarantee of success.



May need to adjust goals to increase likelihood of success

16

2009 Fall FOCUS Investment Conference

Investment Widgets


Proactive Alerts on
dashboard helps
you manage
accounts efficiently


Can customize the
widgets for a user’s
workflow


Rearrange to suit

your needs


Most often used
and important
functions can be
displayed


Fi
-
Tek can create
custom widgets

17

2009 Fall FOCUS Investment Conference

Life of a Trade

Portfolio Manager:

Proposes Trades

Executes Trades

1

Broker confirms trade

Northern Auto affirms


2

Northern confirms Trades

Operations imports confirms

reconciles and settles

3

18

2009 Fall FOCUS Investment Conference

Portfolio Modeling


Proactive alerts on dashboard help you to manage
accounts that needs rebalancing


Create / import models and make Model of Models
to better organize


Associate accounts and set rebalance variables


Create rebalance exclusion for non
-
traded
securities in a position


Create cash exclusion to cover recurring obligation


Rebalance the account or invest cash to get the
market spread

19

2009 Fall FOCUS Investment Conference

Modeling and Rebalancing: Summary


Investment Management allows you to:


Create and Manage a


Comprehensive Model (Mix of Equity /
Fixed Income / ETF / Cash / Real
Estate etc)


Base Model (Like Equity or ETF /
Mutual Fund only Model)


Consolidated Model (Model of Model)
to create Models reflecting the Bank /
Portfolio Manager Investment
objectives.


Associate Models with Account


Rebalance Account or Model


Invest / Divest Cash as per the Model


Get Alerts on Portal page for Accounts
not in line with Model objective

20

2009 Fall FOCUS Investment Conference

Modeling: Creating Models



Creating Models:


Name a Model


Create Model
hierarchy (Levels)


Assign asset
allocation


File Models by
Portfolio Manager
and / or Investment
Objective.


Save Model


Manage Models

21

2009 Fall FOCUS Investment Conference

Modeling: Import Models


Importing Models:


Name a Model


Define Model hierarchy (Levels)


Import the Model from Spreadsheet


File the Models as per PM and Investment Objective


Save Model

22

2009 Fall FOCUS Investment Conference

Modeling: Associate Models to Accounts


Use Models to manage Investment
strategies


Associate multiple Accounts to a
given Model


Set Rebalance parameters:


Minimum trade Amount


Effective date


Rebalance strategy


Portion of Model to rebalance.


Easy to learn and use

23

2009 Fall FOCUS Investment Conference

Rebalancing: Summary


Investment Management allows
you to


Easily rebalance any selected
Accounts to an associated Model


See the proposed trades and fine
tune them


See the expected Gains /

Losses with estimated changes

to net Income.


See the effect of Rebalancing

to your cash position


Get what
-
if reports showing

impact on Position before

and after, trades per Account,
trades per Security or

Proposed Holdings report


Save the session or Block and
execute with one click

24

2009 Fall FOCUS Investment Conference

Trade Execution


Comprehensive Trade blotter that can be customized to show all Trades for the organization

or be restricted to the Accounts you are managing.


Allows you to create a trade advice and keep it on the blotter for Market to move for trade execution.


Allows pre
-
trade blocking of like trades for better execution, reduce fees and charge


Allows post
-
trade blocking if your Broker supports


Control release of a trade (slice a trade) for thinly traded stock so you are not moving the market


Electronic execution of Common Stock / ETF to 450 Brokers of your choice.

25

2009 Fall FOCUS Investment Conference

Reporting


Feature rich reports help projecting account overview along with in
-
depth details


Can be run for today or can go back as
-
of any date in past.


Extensive equities and fixed income reporting to help answer client / users need


Can be output to PDF / EXCEL / RTF


Create a report packet and mix and match report to prepare for client presentation.


Create as many report packets and save the criteria for one touch packet generation for future

26

2009 Fall FOCUS Investment Conference

Trust Accounting


Cash Management


Income Accounting


Amortization and Accretion


Accrual


Automated Fee Processing


Audit Trail


Operational Management


Common Funds


Full regulatory and

compliance reports


Production Scheduler

Comprehensive and integrated trust accounting with detailed
P&I split and tax lot accounting

27

2009 Fall FOCUS Investment Conference

Statements


Options / Production Process


Configurable Statement Packages


Large Repository of Statement Report Formats


EB Statements, Market to Market Summary, Holdings, Transaction, Taxlots


Court Accounting, GASB Reporting, Chart Reports


Ability to attach notices and letters


Customized Cover pages per package with Logo


Customizable Schedules for Accounts and / or Recipients


Automated Through Night work or On Demand (both Ad
-
hoc and Production)


Delivery to Secure Web site, encrypted email or Printed Copy


Statement Formats: PDF, DOC, RDF

28

2009 Fall FOCUS Investment Conference

Compliance


Compliance Reporting such as Schedule RC
-
T, 13F Reporting, 13G Reporting


Audit Compliance using audit trail and RFM logs


Automated Account Reviews with customizable questions and workflow


Auto approval of Reviews for “No Breach” accounts.


Trust Committee, Administrative and Investment Reviews


Rich repository of Account Review Report formats

29

2009 Fall FOCUS Investment Conference

Client Internet Access Functionality


Graphical Representation of Account Portfolio and Holdings


Views: Transaction Overview, Pending Trades, Tax Lot Information


Statement upload facility


Supports multiple account and consolidated views


Accessible 24X7 via RSA Secure Risk Based Authentication


Ability to upload Adhoc documents


Data refreshed every night automatically thru night work


Ability to white
-
label site with Client Logo and Color Scheme

30

2009 Fall FOCUS Investment Conference

Performance Reporting


TrustPortal has integrated
performance reports and
statements.


The reports are available

in the Report Manager

for internal use or in the
Statement Package for
distribution to end clients


The reports can be set

up from the inception of

the account


Reports are expandable

to meet client needs

31

2009 Fall FOCUS Investment Conference

Automated Account Review


Web Based Account
Review


Regulatory & ad
-
hoc
reviews


Business Process

Integration


Review Team

Collaboration Tools


Email Notifications


The TrustPortal offers a powerful and streamlined solution that enables

Trust Providers to create regulatory and ad
-
hoc reviews. It eliminates
the need to gather information and coordinate efforts from different
parties throughout your organization.

32

2009 Fall FOCUS Investment Conference

Online Reporting


Web Based Account Reporting


Five Detailed Reports


Portfolio


Holdings


Transactions


Taxlots


Pending Trades


Strong Authentication


Secure Electronic Statement


Delivery


Auto Secured Data Uploader

The TrustPortal provides clients secure web based access to their trust

account to view, sort, download, and print daily account activity and

access their monthly statements securely over the Internet.

© 2009 Northern Trust Corporation

northerntrust.com

FALL

FOCUS


2009

INVESTMENT CONFERENCE


Subir Chatterjee

CEO, Fi
-
Tek

Thank You.

Ramsey El
-
Fakir

CIO, Fi
-
Tek