Trust boosts Syscorp software usage
Trusthas signed a heads of agreement with wealth management software providerSyscorpthat will see Trust extend its use of Syscorp’s services to administer its custody and wrap products.
Trust is already using Syscorp’s product, the Complete Financial Services Platform (CFS), to deploy its individually managed account product aimed at boutique financial planners.
Trust national manager for business strategy and development Stephen Trompp says the group chose to upgrade the use of Syscorp software as until now they had delivered fast, efficient and reliable software.
"CFS will enable us to replace two legacy systems with one fully integrated platform delivering cost reductions to the back office as well as improved customer service,” Trompp says.
“It is the first step in our integration process with Syscorp technology and we look forward to announcing the replacement of more systems shortly,” he says.
Syscorp head of sales Iain Dunstan says Trust’s decision to use the software is mainly due to a need to replace its presently disparate technology systems.
“It also further cements their confidence in our technology,” Dunstan says.
The move follows a recent decision byEquity Trusteesto license the CFS platform to administer its own financial services offerings.
The move by Equity Trustees was also designed to help the group replace their four legacy systems with one integrated platform.
Recommended for you
As reports flow in of investors lining up to buy gold at Sydney’s ABC Bullion store this week, two financial advisers have cautioned against succumbing to the hype as gold prices hit shaky ground.
After three weeks of struggling gains, this week has marked a return to strong growth for adviser numbers, in addition to three new licensees commencing.
ASIC has banned a Melbourne-based financial adviser who gave inappropriate advice to his clients including false and misleading Statements of Advice.
KPMG has revealed how much CEO and chief investment officers at Australian family offices are earning, both in salary and bonus, and how they compare to international peers.
