Link Group acquires Syncsoft to expand financial services
Australia's Link Group, the largest and fastest growing third party record-keeping company Down Under, acquired a software provider to expand into financial advisory services. In a report by Wealth Professional Magazine Australia, the software would be able to aid Link to offer its clients options in direct investment like Term Deposits, exchange-traded funds (ETFs) and the Australian Stock Exchange (ASX300).
Link Group Managing Director John McMurtrie said, "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."
The software company is the leading supplier of Capital superannuation administration software. Superannuation in Australia allows people to arrange funds to be available for them when they retire. It has secured clients in Western Australian public sector GESB and Comsuper. Comsuper is the administrative agency of superannuation schemes that are made available for Australia's government employees and the Australian Defence Force.
In line with the acquisition, Syncsoft founder and managing director Rory Wainer will remain in his position in the software company and will leverage the company's intellectual property across subsidiaries of Link Group.