Securities transaction and fund administration software provider, GBST, has entered an end-to-end managed services agreement with financial advisory firm, Baillieu Holst Limited.
The contract is an extension of GBST’s current partnership with Baillieu Holst and sees the financial advisory firm continue to deploy the GBST Shares equities clearing and settlement platform and GBST Front Office solutions across its combined operations.
Baillieu Holst managing director, Gavin Powell, said the firm was initially impressed by the GBST Shares platform’s capabilities in retaining life time balances as it rolled Baillieu Holst’s existing data into the new system.
“[GBST’s] platform has proven its reliability and scalability and that it is comfortably able to cope with the changes in scope of our business,” Powell said.
“GBST works closely with us on initiatives to keep improving the data we can extract from the system.”
GBST Capital Markets chief executive, Denis Orrock, said Baillieu Holst’s deployment of GBST Shares platform has seen its growing penetration in the Sydney retail banking market, which was underpinned by the opening of new branches in Queensland and South Australia.
“Full service brokerage needs full service capabilities and the integrated benefits of the GBST platform and solutions range is certainly highlighted within the Baillieu Holst operations,” Orrock said.
“Retaining all data … has certainly helped contribute to the positive growth levels of customers and funds under management.”
GBST confirmed it will continue to work closely with Baillieu Holst on the development of adviser, front end reporting and technical communications.
