Master outlives usefulness
SunGard EBS Asia Pacific, the supplier for master trust and wrap account soft-ware will discontinue the production of use of its flagship software MASTER.
SunGard EBS Asia Pacific, the supplier for master trust and wrap account soft-ware will discontinue the production of use of its flagship software MASTER.
The software is currently in use with RetireInvest's Ausvest and Godfrey Pem-broke's One Source wrap accounts, as well as master trusts offered by Barclays Bank, Perpetual and Deloitte Touche Tohmatsu.
The software, developed by local company Warril Miller, is also in use in back office operations. SunGard took on board the software when it purchased Warril Miller in 1996 as part of their launch into the Australian market.
SunGard managing director Gary Cox says the new software Omni, being brought in from the US, was a sound replacement for MASTER.
"This will give clients access to leading edge technology as used by the top 10 fund managers, top eight banks and more than 55 record keeping houses in the US," Cox says.
Cox says there will be no loss of technology or support staff in the changeover as
staff will now be able to concentrate on servicing the new technology.
AUTHOR
Jason Spits
Recommended for you
As advisers risk losing two-thirds of FUA during the $3.5 trillion wealth transfer, two co-founders underscore why fostering trust with the next generation is vital to retaining intergenerational wealth.
As advisers seek greater insights into FSCP determinations, what are the various options considered by the panel and can a decision be appealed?
Amid the current financial adviser shortage, advice firm Link Wealth is looking to expand its financial literacy program for high school students across the country.
TAL Risk Academy has updated its range of ethics courses to help financial advisers meet their CPD requirements following adviser feedback, including interpreting FSCP determinations.
