The company was founded by Stewart and Roger Foster, owners of private equity group Third Financial Ventures, along with the former Managing Director of Financial Objects Wealth Management Division, Gary Linieres and CTO, Peter Caddick. The management team has over 50 years of domain experience between them, building industry renowned technology solutions and nurturing successful organisations within the investment management industry.
In late 2007, Third Financial Software acquired the IPR to a new and innovative investment management system, currently used by a leading international investment manager. This technology has provided the foundation for TERCERO and is already installed in several clients in EMEA, including Tradition Asset Management.
âTradition has been using the platform for a couple of years now,â stated Lester Petch, Head of Investment Management, Tradition Asset Management. âWe are running our own investment management business, as well as a number of third party clients on the system allowing us to construct and manage some highly complex portfolios. Its reliability and flexibility has been exceptional. We expect Third Financial Softwareâs sector expertise to further enhance TERCERO, helping us continue to meet the evolving investment requirements of our clients.â
Third Financial Software identified the need to provide the market with a new platform that enabled the integrated management of the entire investment lifecycle. TERCERO has been extended to include a CRM platform specifically designed to meet the needs of the wealth and investment management market - creating the companyâs unique IRM solution. This links seamlessly with the TERCERO Investment Management System providing the fully automated management of high net worth individualsâ and institutional portfolios. Client reporting capabilities complete the cycle by incorporating a version of one of the market leading client products into the solution. The entire platform will be monitored by a set of user defined business rules that will be delivered via a revolutionary alert system. TERCERO can be deployed either as stand alone components integrated with existing systems, or delivered as a single complete platform.
Alois Pirker, Senior Analyst, Aite Group commented: âThere is an ever greater demand by individuals for transparency, compliance, effective risk management and reporting capabilities from their asset managers. New technologies which can integrate the workflows required by todayâs investment management community are in high demand. The concepts Third Financial Software is bringing to market are in line with the challenges being faced by an industry with an increasingly savvy investor base.â
âThe wealth and investment management industry has been going through a period of growth and profound change and will continue to expand over the coming years. The current crop of technology vendors servicing the community are not meeting the challenges the market now faces and we see a fantastic opportunity to deliver the next generation platformâ said Stewart Foster, Director and Co-Founder, Third Financial Software. âThrough a strategy of development and component acquisition, combined with years of experience and significant input from our early clients we have a product that breaks the mould of what has previously been available,â stated Gary Linieres, Director and Co-Founder, Third Financial Software.