Syscorp signs Advent users
Financialplanning software provider Syscorp has signed a deal with US-basedAdvent Softwareto provide local client support and consulting to the global group’s Australian and New Zealand-based clients.
Syscorp has been in negotiations with Advent since the US group closed its Australian office in April, when the company said it would be supporting its local clients from the US.
Syscorp head of sales Iain Dunstan says that Advent understood there was a bit of backlash when it pulled out of the market and have responded to that.
Advent’s 85 clients will be receiving local help-desk support and access to on-site professional services, as well as help with the latest regulatory, pricing, and tax code changes from Syscorp.
Dunstan says although the global group is in the same general market space, Syscorp targets the bigger end of the market, while Advent focuses more on second tier players.
He says this means the businesses are complementary and do not overlap, and there will be no cannibalisation of clients.
However, he says the top tier of Advent clients may be interested in some Syscorp products, and the company will move some way to servicing smaller clients, such as being an application service provider.
Syscorp chief executive Chris Liddell says that the local group has acquired specialist Advent expertise to build its service capabilities and will work with Advent’s global support centre to provide the ongoing maintenance services.
Dunstan says the business from Advent comes as part of a new strategy for Syscorp, which will be undergoing a period of rapid expansion in client numbers.
Recommended for you
The financial advice industry has enjoyed another week of strong new entrant numbers, totalling nearly 40 for the past fortnight, thanks to the latest exam passes.
Momentum Media’s wealth publishing network – comprising InvestorDaily, ifa, SMSF Adviser, Money Management, and Super Review – is proud to launch the annual Australian Wealth Management Awards.
Investment information firm Equity Story has signed a binding heads of agreement to acquire South Australian financial advisory and stockbroker Baker Young for $4.2 million.
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
