GPen changes name
GPen, which was bought by Queensland Trustees and Investment (QTI) last September, has been renamed AdminPartners.
The Melbourne-based superannuation administrator provides services to mid-sized funds helping them to manage members’ accounts, contributions, investments, benefit payments and regulatory reporting.
There are currently about 100,000 fund members using the administrator.
QTI managing director Michael Hackett said there had been a comprehensive review of GPen’s business after the acquisition.
“Our review resulted in, amongst other important strategic enhancements, a rebranding to reflect that we want to be long-term partners with our customers and provide them with better service backed with more resources and an upgraded system,” he said.
“We are upgrading the IT infrastructure and software, hiring more support and technical staff and looking to target mid-size super funds and funds managers who want a customised, compliant boutique solution.”
The rebranded business will be lead by GPen’s executive director, John Atabak.
“John knows the business and customers and how to improve what we do,’’ Hackett said.
AdminPartners' board will consist of Michael Hackett, John Atabak, Richard Brennan from QTI and AFM Investment Partners' managing director, John Donovan.
Recommended for you
Money Management examines the share price of financial advice licensees over one year to 31 March, with M&A actions in the final quarter having a positive effect for two licensees.
A $3.5 million settlement for victims of Melissa Caddick has been approved by the Federal Court following an initial agreement last December.
The Reserve Bank of Australia has delivered its first rate decision since the introduction of a new board structure last month.
Digital advice provider Otivo has launched an interactive tool, powered by artificial intelligence and Otivo’s own advice engine, to help answer client questions.