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
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
