Australian investment manager Xplore Wealth has turned to SS&C Technologies to consolidate investment operations onto one platform.
The need for consolidation was triggered after recent takeovers.
The firm is leveraging SS&C’s Global Wealth Platform (GWP) to meet this objective.
SS&C Institutional & Investment Management senior vice president said: “We are a global player with a local presence in Australia, and that combination, along with our expert in-house understanding and knowledge, creates a solid base from which to help Xplore Wealth and all our clients succeed.”
Xplore Wealth previously utilised GWP to manage the end-to-end investment processes for its Managed Discretionary Account (MDA) unit.
The investment manager believes that cloud-based GWP can scale to drive its growth.
Xplore Wealth CEO Mike Wright said: “With GWP, we move closer to becoming ‘One Business, One Platform’ while we migrate away from legacy systems and onto an established, robust and cutting-edge solution.”
“Expanding our partnership with SS&C sets us up for long-term collaboration on future developments and to better serve our clients.”
Xplore Wealth offers investment & superannuation wrap solutions, managed discretionary account solutions as well as share broking solutions. The firm was set up in 2004.
In 2017, the firm merged with the Linear platform business in Melbourne that offered administration and technology solutions to the wealth management industry.