'We're not going anywhere': SS&C serious about Aussie expansion

After entering into an agreement with Insignia Financial in December last year to take on around 1400 staff and transform its master trust business, SS&C is eyeing significantly more market share in Australia.

Speaking to Financial Standard, SS&C global chair and founder Bill Stone said the investment management software and services company is looking to become the premier administration provider in Australia.

"We have added around 1400 Insignia people to SS&C, so we have a lot of talent and a lot of capability," Stone said.

"As we transform Insignia's four platforms into one, we'll get a lot of efficiencies, and we'll have staff available as we add additional superannuation funds to our client list.

"We're excited about how this all fits together and into our strategic plans for Australia."

Stone said SS&C has been in talks with every Australian super fund to showcase what it can offer and is excited about the future potential.

"We're making a big push here in Australia and I think we will continue to see success," Stone said.

"We're expecting to grow in the double digits over the next five years. So, we're excited about the opportunity, especially as super funds continue to grow, and quite rapidly, so we don't see why that would slow down."

When it comes to bringing on new superannuation clients, Stone said SS&C is ready "to take advantage" of as much opportunity as it can, especially as super funds continue to diversify their investments.

"We try not to let the grass grow under our feet. We're constantly engaging with the market, having meetings, explaining our technology, our discipline, and our approach to administration, business process outsourcing, and how we're partners with our customers," he said.

"We understand the assets that different funds are going to use and there's been a pretty big shift into private assets, which also creates a lot of differences for administrators, portfolio managers and investors.

"You're not going to value a bridge daily, right? But at the same time, you have to understand what's it worth, and what's it worth to members, and is it ever going to be a liquid asset? And if it is, what's the opportunity, given what we spent for it? And then what might it be worth the future?

"There's a lot of stuff that's in play, and I think as different funds get to see what we offer, I think they are pretty impressed with the breadth and depth."

SS&C currently services 22,000 clients across various industries with more than $45 trillion in assets run on its technology.

Stone said SS&C is making a concerted effort to get to know the entire marketplace, and while super fund clients are a priority, it's also targeting asset managers, insurance companies and others.

"We have lots of technology, lots of new technology that's coming into the marketplace, and we think people will be suitably impressed," Stone said.

"We're here, we'll be around. We're not going anywhere, and we like to win."