Link Group, Australia’s largest and fastest growing third party record keeping company, has acquired Syncsoft software provider for APRA regulated superannuation funds.
In addition to core member administration services, Link will offer funds financial advice via Money Solutions and a Direct Investment Option which allows funds to offer members direct investment options such as the ASX300, ETFs or Term Deposits.
John McMurtrie, managing director of Link said the ability to offer a robust and flexible administration infrastructure in addition to key value added services was now critical for funds as technology continues to advance and competition for members intensifies.
“Through joining forces with Link, Syncsoft will be able to continue enhancing its Capital offering by integrating the value added services provided by Link such as the effective management of big data, direct investment options and automated APRA reporting,” McMurtrie said.
Link will substantially expand its current client base of super funds who choose to outsource their superannuation administration, to include funds who administer in-house via the Syncsoft platform, as well as hybrid administration arrangements.
Syncsoft provides technology and software services through its leading Capital superannuation administration software. Clients currently using Capital include the $16bn Western Australian public sector GESB, $36bn UniSuper and Comsuper, the agency responsible for administering the major superannuation schemes available to the Australian Defence Force and the majority of Australian government employees.
Link now provides administration support for over six million superannuation members on its platforms.
Rory Wainer, managing director and founder of Syncsoft, will remain in charge of the business while also expanding his role to leverage Syncsoft’s intellectual property across all of Link’s subsidiaries.