The acquisition solidifies SS&C's commitment to proving
scalable benefit payment solutions to their institutional
clients.
WINDSOR,
Conn., Feb. 3, 2025 /PRNewswire/ -- SS&C
Technologies Holdings, Inc. (Nasdaq: SSNC) today announced the
acquisition of FPS Trust Company, a non-depository trust company,
from IPX Retirement. FPS Trust focuses on providing services to
banks and institutional retirement plan providers. Financial terms
were not disclosed.
Based in Centennial, Colorado,
FPS Trust offers high-volume beneficiary distributions, paying
agent services and tax processing solutions to institutional
trustees and retirement plan administrators. FPS Trust will operate
within SS&C Innovest. Previously, SS&C Innovest partnered
with FPS Trust to provide paying agent services to their existing
clients on the SS&C InnoPay high-volume employee benefit
payment processing platform.
"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 Windsor,
Connecticut, and has offices around the world. More than
20,000 financial services and healthcare organizations, from the
world's largest companies to small and mid-market firms, rely on
SS&C for expertise, scale, and technology.
Additional information about
SS&C (Nasdaq:SSNC) is available at www.ssctech.com.
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SOURCE SS&C
