SS&C’s GWP is a cloud-based solution that enables to management of the entire investment process on a single platform
Xplore Wealth, an Australian wealth management services provider, has selected SS&C Global Wealth Platform (GWP) to help consolidate its system and to streamline technology.
After its recent acquisitions, Xplore Wealth decided to consolidate its investment operations onto a single platform.
Initially, the company deployed GWP to manage investment processes of its Managed Discretionary Account (MDA) business.
The company now believes that cloud-based GWP can scale to support 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.”
Founded in 2004, Xplore Wealth is a long-serving Specialist Platform Provider (SPP) and investment administrator in Australia, with experience in managed accounts.
The company’s Investment Platform, broad Managed Account and Superannuation services offer wealth management options for the country’s financial advisory firms, full-service stockbrokers and wealth managers.
Xplore Wealth has about $1.54bn in funds under administration
The company has nearly AUD2.5bn ($1.54bn) in funds under administration (FUA), making it one of Australia’s largest specialist MDA providers.
It also offers third-party investment administration supporting independent financial advisors, full-service stockbrokers and licensed advice businesses via its MDA, Wrap and Direct Holder Identification Number (HIN) solutions.
SS&C Technologies institutional & investment management senior vice president Christy Bremner said: “We are pleased to strengthen our partnership with Xplore Wealth during this critical period in its evolution.
“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.”
SS&C’s GWP is a cloud-based solution that enables the management of the entire investment process on a single platform.