Insignia Financial and SS&C complete major milestone in transformation of Master Trust business

Dave Woodall

Insignia Financial has successfully transitioned a range of administration and technology functions to global technology leader SS&C Technologies (SS&C), completing the next step in the transformation of its Master Trust business. This follows the signing of a Master Services Agreement in February.

Last week, nearly 1,300 people within the administration, technology and digital teams that support the Master Trust business, have moved to SS&C. This model and partnership is the first at this scale across the Australian financial services industry, and will deliver meaningful benefits for Insignia Financial’s people, customers and shareholders.

Members, employers and advisers will continue to engage with their existing contacts without any disruption, ensuring continuity of service, operations and product knowledge. Insignia Financial will retain functions such as claims, complaints, product development, relationship management, marketing, member education and advice and guidance.

This partnership, along with the positioning of MLC as the go-forward brand, marks another significant step in the ongoing transformation and simplification of the Master Trust business.

CEO MLC Super, Dave Woodall, said: “We’re excited to have successfully completed this major milestone in our industry-first partnership with SS&C, which will enable us to better serve our customers.

“We’re delivering on our commitment to simplify and transform our superannuation business to convert our size into meaningful scale benefits, through lower cost-to-serve, competitive fees and industry leading service outcomes, under our go-forward brand, MLC.

“The transition provides continuity of service for our members, employers and advisers, while laying the foundation for a more intuitive and consistent experience, and a business that’s better positioned to grow and adapt.

“This is an important step towards achieving our 2030 vision to be Australia’s leading and most efficient wealth management company. As we embed our partnership with SS&C, we’re now focused on executing the next phase of our strategy as outlined in our FY26-30 priorities.”

SS&C Head of Global Investor and Distribution Solutions, Australia, Shaun McKenna, said: “We’re proud to be working alongside Insignia Financial on this transformation and welcome the talented team members joining SS&C through this transition.

“Our relationship is built on a strong foundation of trust, innovation and a shared commitment to improve retirement outcomes for all Australians.”