Reliance Integrated Solutions LLC Wins Multi-Year Trust Operations Outsourcing Partnership with FREESTAR Bank, N.A. Wealth Management

Tue Jul 14, 2009 1:44pm EDT
 
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ATLANTA--(Business Wire)--
Reliance announced today that its trust operations outsourcing subsidiary,
Reliance Integrated Solutions LLC (RIS), won a multi-year outsourcing
partnership with FREESTAR Bank, N.A. Wealth Management whereby RIS will provide
turn-key operations services including trust accounting, custody, cashiering and
client reporting. 

"Our company has run operations and accounting in-house for many years," said
Dan Fry, head of wealth management at FREESTAR Bank, N.A. "We were looking to
gain efficiency while expanding the breadth of our offering and knew that we
could not hit our goals through our in-house model. Reliance is a truly unique
partner in the outsourcing business and they were able to deliver. We are now a
more focused, client-driven organization." 

"Our outsourcing program is ideal for wealth managers like FREESTAR Bank who
wish to apply their in-house resources in other places," said Bryant Jones,
senior vice president and outsourcing business manager at RIS. "Once a client
makes the decision to strategically orient resources by outsourcing operational
functions, the flexibility of our program and culture empowers us to co-design a
program that is both powerful and flexible." 

About FREESTAR

FREESTAR Bank, N.A. is an independently owned community bank serving clients in
east central Illinois. FREESTAR Bank, N.A., with more than $400 million in
assets, provides a full suite of banking services, including detailed trust and
estate planning, and farm management. 

About RIS

RIS, a wholly-owned subsidiary of Reliance Financial Corporation, has been
dedicated to providing a high-touch trust and wealth management operations
outsourcing solution since 1993. RIS specializes in tailoring solutions for
trust companies and wealth managers serving the high net worth and institutional
marketplace by providing turn-key investment and trust accounting, securities
processing, client reporting and the technology platform needed to support a
complete range of trust and investment services. 

About Reliance Financial Corporation

Reliance Financial Corporation is a privately held, Atlanta-based, diversified
financial services and wealth management company with more than $63 billion in
assets under management and administration. Reliance conducts business
throughout the United States through its trust company (one of the largest
independent trust companies in the country) subsidiaries and affiliated offices.
Reliance offers a full array of outsourcing, wealth management, investment and
trust and asset management services to individuals, corporations and
institutions, as well as to other banks, brokerage firms and insurance
companies. Please visit www.relico.com for information on all of the company`s
programs and services or call 404-965-7200. 



Reliance
Chantel Shipe, 678-274-1852
cshipe@relico.com

Copyright Business Wire 2009

 

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