Specialist software company, SS&C Technologies, has named Trustees Executors (TE) as one of 25 new clients globally to adopt its new ‘front-to-back’ Aloha investment administration platform over the last 12 months.
In a release earlier this month, SS&C said the “Australia-based [sic]” TE was among the group of 25 firms located in “more than 15 countries across North America, EMEA, APAC and Australia [to] have selected… Aloha in the last 12 months to simplify and advance their investment operations”.
Aloha backs the Flint Wealth investment platform – the joint venture between TE, Harbour Asset Management and ResearchIP. Last year the Wellington-headquartered firm said the SS&C back-office system would “support new and existing portfolio administration products” as well as business enterprises services unit, TE Connect.
Ryan Bessemer, TE chief, said in a release last week: “Of the solutions we reviewed, SS&C Aloha was the best choice to meet our strategic vision.
“We want to provide clients with a consolidated view of their investments, a wide pool of potential investments, and a great user experience. SS&C Aloha’s single database supports this consolidated view, and its advanced API service built on open architecture will let us connect with various other investment providers and sources.”
Bessemer said the Aloha real-time exchange system also allows clients to have access to up-to-date information.
The Nasdaq-listed SS&C is a specialist software company focusing on the financial services and healthcare sectors, competing with the likes of FNZ in some parts of the investment administration chain.
SS&C bought investment technology firm, DST, in 2018, bringing wealth management IT products such as Bluedoor (which backs the AMP North platform among others) into the fold.
But the highly acquisitive firm has also made other purchases in recent years and was in the running for the Australian fund administration business, Mainstream – ultimately losing out to Apex Group (which later bought MMC and Implemented Investment Solutions in NZ).
TE was an early-adopter of the Aloha software that SS&C describes as a “single automated investment management platform that spans the front, middle and back offices, with support for every asset class and every function across the investment lifecycle”.
Christy Bremner, SS&C institutional and investment management head, said in the release that Aloha brings operational efficiencies and lowers costs for clients.
“We are excited to see investment and wealth managers worldwide adopting SS&C Aloha as their investment operations engine,” Bremner said.
It is understood Craigs Investment Partners has selected Aloha for some back-office duties.