New York, March 15, 2012 – Principal Trust Company, an advisor-focused firm and one of the largest non-depository trust companies in the nation, announced today that it has chosen Innovest Systems' InnoTrust as its trust and wealth management platform. InnoTrust will provide Principal Trust Company with a feature-rich and highly scalable solution to support the account administration and reporting needs of its clients. InnoTrust will enhance current system capabilities, strengthen the level of customer support, and facilitate the firm's planned business expansion.
Innovest Systems' flagship product, InnoTrust, is a secure, integrated, real-time trust accounting and reporting technology platform provided in a highly flexible and scalable Software as a Service (SaaS) model. This browser-based open architecture system comprehensively addresses the needs of trust companies, banks, private banks, retirement plan administrators and others that need to control, account for, and report on assets held in trust and custody accounts.
Carol Burns, Senior Vice President at Principal Trust comments, "Selecting Innovest Systems' InnoTrust platform for our Personal Trust business, will allow us to streamline our operations and gain the efficiencies required to grow our business. After a thorough due diligence process, it became clear that the technology and solutions that Innovest brings align with our mission to offer our clients' best-inmarket trust services."
William Thomas, Innovest's chief executive officer, said, "We are thrilled to work with Principal Trust Company. Innovest is committed to bringing its unique combination of modern-era technology, trust and wealth management expertise, and world class client service to complement Principal Trust's already very strong trust offering."
About Innovest Systems
Innovest Systems, LLC is a financial technology firm that provides technology-driven solutions to trust and wealth management companies. Innovest's flagship product, InnoTrust, is designed to deliver a secure, integrated, real-time system offered in a Software as a Service (SaaS) environment. Innovest's technology is designed to meet the needs of the world's largest global financial services firms, as well as smaller independent trust and wealth management companies. Innovest is headquartered in New York City. For more information about Innovest Systems, visit www.innovestsystems.com.
About Principal Trust Company
Principal Trust Company is one of the largest non?depository trust companies in the nation. Chartered in 1899, Principal Trust provides trust service solutions to over 400,000 accounts with over $95 billion in assets under administration. Principal Trust Company is a proud member of the Principal Financial Group®, a global investment management leader including retirement services, insurance solutions and asset management. The Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principaltrust.com.
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Media: Fraylie Nord