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Citi’s OpenWealth® Receives Excellence in Risk Management Systems and Compliance Award

New York, NY - June 21, 2012 – Citi’s OpenWealth end-to-end UMA/UMH (Unified Managed Account / Unified Managed Household) wealth management solution has received the 2012 Excellence in Risk Management Systems and Compliance award from FSO Knowledge Xchange (FSOkx). The award recognizes OpenWealth, for its Advisor Controlled UMA/UMH with automated rebalancing and pre-trade compliance monitoring guard rails to help address risk issues with advisor discretion over investor accounts.

FSOkx Excellence and Outsourcing Awards honor those firms that transform financial services. The awards are determined by a panel of judges comprised of thought leaders in the financial services industry.

"With the increasing emphasis on advisor controlled portfolios and regulatory oversight, platforms must deliver holistic wealth management through automated suitability, custom portfolio construction, cash flow and tax optimization, household rebalancing and household performance," said Andrew Clipper, North America Head of Citi Wealth Management Services. "We are pleased that OpenWealth has been recognized as the solution that delivers these capabilities across accounts, products and institutions with the risk controls to meet the needs of wealth management firms and their advisors."

"With OpenWealth, our goal is to transform the provision of wealth management from a series of products sold in silos to holistic investment solutions to meet investors needs," said Chandresh Iyer, Global Head of Custody and Investment Services, Investor Services, Citi. "We are grateful to be recognized by FSOkx’s distinguished panel of judges."

OpenWealth provides wealth management platforms and services to banks, broker-dealers, insurance companies and RIAs, with the following industry leading capabilities:

  • Automated household rebalancing with tax and cash flow optimization
  • Supports all types of advisors with robust portfolio management capabilities and pre-trade compliance monitoring "guard rails"
  • Multiple platform configurations for all managed account products
  • Automated UMA/UMH rebalancing at lower cost with unlimited overlay options including advisor controlled, in-house CIO, and 3rd party
  • Performance at the household, portfolio, account and sleeve level
  • Aggregated reporting of assets from brokerage, trust and assets held away
  • Real-time compliance oversight, audit trails, and reporting with a comprehensive user dashboard

OpenWealth is a leading provider to the wealth management industry and is part of a full suite of investment services solutions delivered through Citi OpenInvestorSM.

Citi OpenInvestor is the investment services solution for today’s diversified investor, combining specialized expertise, comprehensive capabilities and the power of Citi’s global network to help clients meet performance objectives across asset classes, strategies, and geographies. With a network that spans more than 95 countries, Citi offers award winning service and unmatched scale. Citi provides complete investment services for institutional, alternative, and wealth managers delivering middle office, fund services, custody, investing and financing solutions focused on clients’ specific challenges, customized to their individual needs.

Citi Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 95 countries, Citi Transaction Services supports over 65,000 clients. As of the first quarter of 2012, it held on average $377 billion in liability balances and $13 trillion in assets under custody.


About Citi
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

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