First Merchants Private Wealth Advisors Adopts SS&C Trust Suite
First Merchants Private Wealth Advisors, managing over $4B in assets and advising on over $8B, has implemented SS&C Trust Suite to support its private banking and trust businesses. The decision came after a six-month RFP process, driven by the platform's high integration capabilities.
The implementation includes the Black Diamond® Wealth Platform for data aggregation and performance reporting, InnoTrust accounting solution, and Salentica Elements CRM. The cloud-based solution aims to provide scalability and enhanced performance as First Merchants expands its presence across Indiana, Ohio, and Southeast Michigan.
First Merchants Private Wealth Advisors, che gestisce oltre 4 miliardi di dollari in attivi e consiglia su oltre 8 miliardi, ha implementato SS&C Trust Suite per supportare le sue attività di private banking e trust. La decisione è stata presa dopo un processo di RFP di sei mesi, guidato dalle elevate capacità di integrazione della piattaforma.
L'implementazione include la Black Diamond® Wealth Platform per l'aggregazione dei dati e la reportistica sulle performance, la soluzione contabile InnoTrust e il CRM Salentica Elements. La soluzione basata su cloud mira a fornire scalabilità e prestazioni ottimizzate mentre First Merchants espande la sua presenza in Indiana, Ohio e nel sud-est del Michigan.
First Merchants Private Wealth Advisors, que gestiona más de 4 mil millones de dólares en activos y asesora sobre más de 8 mil millones, ha implementado SS&C Trust Suite para apoyar sus negocios de banca privada y fideicomisos. La decisión se tomó después de un proceso de RFP de seis meses, impulsado por las altas capacidades de integración de la plataforma.
La implementación incluye la Black Diamond® Wealth Platform para la agregación de datos y la elaboración de informes de desempeño, la solución contable InnoTrust y el CRM Salentica Elements. La solución basada en la nube tiene como objetivo proporcionar escalabilidad y un rendimiento mejorado a medida que First Merchants expande su presencia en Indiana, Ohio y el sureste de Michigan.
퍼스트 머챈트 프라이빗 웰스 어드바이저스는 40억 달러 이상의 자산을 관리하고 80억 달러 이상의 자산에 대한 자문을 제공하며, SS&C Trust Suite를 구현하여 프라이빗 뱅킹 및 신탁 비즈니스를 지원하고 있습니다. 이 결정은 플랫폼의 높은 통합 능력에 의해 촉발된 6개월 간의 RFP 과정 이후에 이루어졌습니다.
구현에는 데이터 집계 및 성과 보고를 위한 Black Diamond® Wealth Platform, 회계 솔루션 InnoTrust 및 CRM Salentica Elements가 포함됩니다. 클라우드 기반 솔루션은 퍼스트 머챈트가 인디애나, 오하이오 및 미시간 남동부에 존재감을 확장함에 따라 확장성과 향상된 성능을 제공하는 것을 목표로 하고 있습니다.
First Merchants Private Wealth Advisors, qui gère plus de 4 milliards de dollars d'actifs et conseille sur plus de 8 milliards de dollars, a mis en œuvre SS&C Trust Suite pour soutenir ses activités de banque privée et de fiducie. Cette décision a été prise après un processus de RFP de six mois, motivé par les hautes capacités d'intégration de la plateforme.
L'implémentation comprend la Black Diamond® Wealth Platform pour l'agrégation des données et le reporting de performance, la solution comptable InnoTrust et le CRM Salentica Elements. La solution basée sur le cloud vise à offrir évolutivité et performances améliorées à mesure que First Merchants étend sa présence dans l'Indiana, l'Ohio et le Sud-Est du Michigan.
First Merchants Private Wealth Advisors, das über 4 Milliarden Dollar an Vermögenswerten verwaltet und bei über 8 Milliarden Dollar berät, hat die SS&C Trust Suite implementiert, um seine Private Banking- und Treuhandgeschäfte zu unterstützen. Die Entscheidung fiel nach einem sechsmonatigen RFP-Prozess, der durch die hohe Integrationsfähigkeit der Plattform vorangetrieben wurde.
Die Implementierung umfasst die Black Diamond® Wealth Platform zur Datenaggregation und Leistungsberichterstattung, die Buchhaltungslösung InnoTrust und das CRM Salentica Elements. Die cloudbasierte Lösung zielt darauf ab, Skalierbarkeit und verbesserte Leistung zu bieten, während First Merchants seine Präsenz in Indiana, Ohio und im Südosten von Michigan erweitert.
- Management of $4B in assets and advisory on $8B demonstrates significant market presence
- Geographic expansion into Ohio and Southeast Michigan shows growth trajectory
- Implementation of integrated cloud solution indicates technological advancement and operational efficiency
- Legacy system limitations required complete platform overhaul
Insights
The implementation of SS&C Trust Suite by First Merchants Private Wealth Advisors represents a significant operational upgrade that could drive meaningful revenue growth and operational efficiency. With
The comprehensive solution, combining trust accounting, CRM and investment reporting tools in a cloud-based platform, should reduce operational costs and improve client service delivery. The integration of Black Diamond® Wealth Platform particularly stands out as it enables sophisticated performance reporting and financial planning capabilities that could help attract and retain high-net-worth clients.
For SS&C Technologies, securing a client of First Merchants' size strengthens their position in the wealth management technology sector and demonstrates their ability to win competitive RFP processes against other major providers. This deal could serve as a reference case for similar regional banks looking to modernize their wealth management technology stack.
This partnership is strategically important as it showcases SS&C's ability to capture market share in the regional banking segment, particularly in wealth management technology. First Merchants' expansion into Ohio and Southeast Michigan, coupled with their growth trajectory, makes them an ideal reference client for SS&C in these markets.
The six-month RFP process victory against other providers validates SS&C's competitive positioning in the wealth management technology space. The comprehensive nature of the Trust Suite, particularly its integration capabilities, addresses a critical pain point for wealth management firms looking to modernize their technology infrastructure.
For SS&C shareholders, this implementation demonstrates the company's execution capability in delivering complex, integrated solutions to sophisticated clients. It also highlights the recurring revenue potential from their cloud-based offerings, which typically provide better margins and more predictable revenue streams than traditional software licenses.
"We're excited to partner with SS&C to accelerate the growth of our private wealth business," said Mark Hardwick, CEO of First Merchants Corporation. "Their cloud-based solution provides the scalability and performance we need to meet the evolving needs of our clients, both today and in the future."
Based in
The SS&C Trust Suite combines a comprehensive, cloud-delivered platform with managed operational services, enabling trust providers to streamline workflows and improve operational efficiency. The Suite delivers a modern, interactive client experience and seamlessly integrates functionality from across SS&C's wealth offerings, including:
- The Black Diamond® Wealth Platform for data aggregation, performance reporting, and financial planning
- InnoTrust principal and income accounting solution and Managed Services for outsourced back-office operations
- Salentica Elements, a CRM solution purpose-built for investment management businesses
"We are thrilled to serve a landmark
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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