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