GPen changes name
GPen, which was bought by Queensland Trustees and Investment (QTI) last September, has been renamed AdminPartners.
The Melbourne-based superannuation administrator provides services to mid-sized funds helping them to manage members’ accounts, contributions, investments, benefit payments and regulatory reporting.
There are currently about 100,000 fund members using the administrator.
QTI managing director Michael Hackett said there had been a comprehensive review of GPen’s business after the acquisition.
“Our review resulted in, amongst other important strategic enhancements, a rebranding to reflect that we want to be long-term partners with our customers and provide them with better service backed with more resources and an upgraded system,” he said.
“We are upgrading the IT infrastructure and software, hiring more support and technical staff and looking to target mid-size super funds and funds managers who want a customised, compliant boutique solution.”
The rebranded business will be lead by GPen’s executive director, John Atabak.
“John knows the business and customers and how to improve what we do,’’ Hackett said.
AdminPartners' board will consist of Michael Hackett, John Atabak, Richard Brennan from QTI and AFM Investment Partners' managing director, John Donovan.
Recommended for you
An adviser has received a written reprimand from the Financial Services and Credit Panel after failing to meet his CPD requirements, the panel’s first action since June.
AMP has reported a 61 per cent rise in inflows to its platform, with net cash flow passing $1 billion for the quarter, but superannuation fell back into outflows.
Those large AFSLs are among the groups experiencing the most adviser growth, indicating they are ready to expand following a period of transition and stabilisation after the Hayne royal commission.
The industry can expect to see more partnerships in the retirement income space in the future, enabling firms to progress their innovation, according to a panel.
