Link Group announces strategic acquisition of super software group Syncsoft

John McMurtrie

Link Group (Link), Australia’s largest and fastest growing third party record keeping company, has cemented its market leadership in the superannuation administration space, today announcing the acquisition of Syncsoft, Australia’s leading software vendor for APRA regulated superannuation funds.

The move will enable Link to substantially expand its current client base of super funds who choose to outsource their superannuation administration, to include funds who administer in-house via the Syncsoft platform, as well as hybrid administration arrangements.

Syncsoft provides technology and software services through its leading Capital superannuation administration software. Designed to automate and streamline administration processes for major superannuation funds, clients currently using Capital include the $16bn Western Australian public sector GESB, $36bn UniSuper and Comsuper, the agency responsible for administering the major superannuation schemes available to the Australian Defence Force and the majority of Australian government employees.

The acquisition further builds on Link’s core administration offering to wealth managers and superannuation funds, with Link now providing administration support for over six million superannuation members on its platforms.

John McMurtrie, Managing Director of Link, said the acquisition builds on Link’s strategy to own and continually invest in platforms it operates.

“Syncsoft strongly complements our existing offer to superannuation funds, allowing us to not only broaden our family of clients across industry, public sector and corporate funds, but to have new conversations around our value added solutions with funds currently using the Capital software,” Mr McMurtrie said.

“Super administration is Link’s core competency and the addition of Syncsoft further increases our economies of scale and delivers the ability to service all funds – including those which currently retain administration in house on platforms and technology owned by Link.”

Responding to member demand

In addition to core member administration services, Link offers a range of value added services to funds including data analytics (via Empirics), financial advice (via Money Solutions), an integrated clearing house, and a Direct Investment Option which allows funds to offer members increasingly popular direct investment options such as the ASX300, ETFs or Term Deposits.

Mr McMurtrie said the ability to offer a robust and flexible administration infrastructure in addition to key value added services was now critical for funds as technology continues to advance and competition for members intensifies.

“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,” Mr McMurtrie said.

Syncsoft will continue to operate from its Melbourne office with all 78 employees joining Link. Rory Wainer, Managing Director and founder of Syncsoft, will remain in charge of the business while also expanding his role to leverage Syncsoft’s intellectual property across all of Link’s subsidiaries.

“We’re excited to have Rory, a true innovator and leader in financial services technology, join the Link family. His story is truly remarkable, starting Syncsoft in the 1990s with the mission of building a genuine scalable institutional wealth management administration platform.”

“Today it is clear he has achieved his mission and the company has remained at the forefront of industry solutions for over 20 years. We believe this is just the beginning as we partner with Rory to expand Syncsoft’s offering to an even wider audience, not just for superannuation but wealth administration across the globe,” Mr McMurtrie said.

This wider audience includes offering administration services globally including New Zealand and China where the Capital software has already been adopted due to its robust yet customisable nature.

Mr Wainer shared his excitement about the prospects of joining the Link Group: “Being part of the Link Group was the logical next phase for Syncsoft and Capital utilising the Group scale and capability to expand the Capital platform more rapidly than otherwise possible. We were impressed by Link’s culture and commitment to be a genuine industry leader through their investment in people and technology to deliver superior long-term outcomes.”