Glenn Schmidt named SS&C Innovest General Manager
SS&C Technologies Holdings, announced it has completed the acquisition of Innovest Systems, the provider of web-based technology systems for trust accounting, payments and unique asset servicing. The acquisition will enable SS&C to broaden its wealth management technology suite. Glenn Schmidt will continue to lead SS&C Innovest as General Manager.
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“We are pleased to welcome Innovest’s blue-chip clients, world-class technology and their talented employees,” said Bill Stone, Chairman and CEO. “Many of our wealth and retirement clients need unique technology and expertise required to service trusts. This investment underscores our commitment to bring value-added technology and building out our wealth management technology offerings.”
Innovest’s flagship product InnoTrust offers solutions to support the accounting and reporting needs of trust companies, banks, private banks, retirement plan administrators, and others. The acquisition adds more than 150 full-time employees in New York, Sacramento, California, and Arlington, Texas.
“SS&C and Innovest are leaders and innovators in portfolio management and trust operations, respectively. We are excited about the possibility of integrating their strengths to create a truly unique full-service wealth management platform,” said Bert Barre, Principal, Colonial Trust Company.
“SS&C has a strong track record of investing in innovation that helps wealth managers run their business efficiently and effectively. We are excited to join forces and grow our capacity to deliver the most advanced wealth management solutions,” said Glenn Schmidt.
Innovest’s forward thinking technology solutions are the choice of many of the largest Trust Companies, Wealth Management firms, Retirement Platforms, and Philanthropic organizations in the industry.
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