State Street Announces Additions to Wealth Manager Services Capabilities

State Street Corporation, one of the world's leading providers of financial services to institutional investors, announced today enhancements to its wealth manager services capabilities. Investment policy compliance, administrative reviews, trade order management and integrated account management capabilities have now been added to its proprietary State Street Wealth Connect® platform. State Street currently services more than $250 billion in assets for approximately 500 wealth managers comprised of 90,000 accounts within the high-net-worth market.

WealthConnect® provides seamless access to State Street through a customizable web-based platform that is fully integrated with State Street’s investment servicing solutions including global custody, accounting and corporate actions monitoring. The new enhancements provide wealth management clients with a full, end-to-end wealth management solution that automates several previously manual and time-consuming functions such as account set up and maintenance, cash disbursements and asset transition. Clients can customize their operational workflows and approval rules to fit their unique processing requirements. The new pre- and post-trade compliance capabilities include a rules-based engine with alert functionality that automates the monitoring of investment objectives. These advanced compliance capabilities are adaptable to even the most complex investment strategies, including open architecture models.

“Our wealth management clients, who are typically registered investment advisors, trust companies and family offices, are increasingly looking for one solution that seamlessly ties together all of the functions they need in the front, middle and back office, including analytics, order management, trade settlement and confirmation and pre- and post-trade compliance,” said Steve Nazzaro, senior vice president of State Street’s wealth manager services business. “These new enhancements to our WealthConnect platform provide a fully integrated platform that enables wealth managers to focus on client service instead of infrastructure.”

In support of Regulation 9 requirements, the new enhancements also enable clients to design and complete trust review questions online, prompt for additional users’ actions, and create an audit trail of all completed steps. This monitoring technology is designed to minimize risk and create seamless web-based processes for trustees and wealth managers. State Street clients can access the full solution or select to use a portion of the stand alone components of the new capabilities through WealthConnect, depending on their firms’ needs. The WealthConnect platform also enables wealth managers to manage the accounts and holdings of their high net worth clients whether they are held in custody at State Street or with other custodians, providing a comprehensive view of the client’s entire investment portfolio.

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $19.0 trillion in assets under custody and administration and $1.8 trillion in assets under management at 30 June, 2010, State Street operates in 25 countries and more than 100 geographic markets worldwide. For more information, visit State Street’s web site at www.statestreet.com.

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