SS&C Technologies Acquires FPS Trust
SS&C Technologies Holdings (Nasdaq: SSNC) has announced the acquisition of FPS Trust Company, a non-depository trust company, from IPX Retirement.
Sentiment and the balance of points
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Rhea-AI Summary
SS&C Technologies Holdings (Nasdaq: SSNC) has announced the acquisition of FPS Trust Company, a non-depository trust company, from IPX Retirement. Based in Centennial, Colorado, FPS Trust specializes in providing high-volume beneficiary distributions, paying agent services, and tax processing solutions to institutional trustees and retirement plan administrators.
FPS Trust will be integrated into SS&C Innovest, building upon their existing partnership where FPS Trust provided paying agent services through SS&C's InnoPay platform. The acquisition strengthens SS&C's position in providing scalable benefit payment solutions to institutional clients and expands their service offerings, particularly for wealth managers issuing taxable distributions on the SS&C Trust Platform.
Positive
- Strategic expansion of SS&C's institutional payment processing capabilities
- Integration of existing partnership enhances operational efficiency
- Expansion of service offerings for wealth managers
- Strengthening of custodial offerings to institutional trustees
Negative
- None.
Details
News Market Reaction – SSNC
The recorded move for SSNC in the trading session of this news was +0.74%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
The acquisition solidifies SS&C's commitment to proving scalable benefit payment solutions to their institutional clients.
Based in
"We are excited to welcome the FPS team to SS&C," said Glenn Schmidt, General Manager of SS&C Innovest. "The acquisition allows us to build on an already strong partnership as part of a single organization. Together, we can further enhance the managed services we provide to our institutional customers as we support them in delivering excellent, scalable service to their clients."
"The integration of FPS Trust and SS&C will enable SS&C to extend its range of services, particularly those offered to wealth managers issuing taxable distributions on the SS&C Trust Platform," said Bill Mueller, CEO of IPX Retirement. "SS&C is now well positioned to further expand on the synergies with SS&C Managed Services and optimize their custodial offerings to institutional trustees and bank trust companies."
About IPX Retirement
IPX Retirement is a leading provider of trust, custody, IRA, and recordkeeping services to the retirement plan industry. Our innovative multi-vendor, multi-provider approach delivers superior value for financial advisors, plan sponsors, investment providers, TPAs, and the investors they serve.
About SS&C Technologies
SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in
Additional information about
SS&C (Nasdaq:SSNC) is available at www.ssctech.com.
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SOURCE SS&C
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