Bravura Solutions Limited (Bravura)(ASX: BVA), a leading global supplier of transfer agency, wealth management & life insurance software applications and professional services, is pleased to announce that Smith Coffey has selected Bravura’s Garradin technology to administer its Individually Managed Accounts (IMAs) and Self Managed Super Funds (SMSFs).
As a provider of financial services to high-net worth individuals, Smith Coffey is experiencing increasing business as the presence of IMAs and SMSFs as investment tools grow.
Mike Glossop, CEO Smith Coffey said: “We believe segregated accounting is essential to allow members’ choice of investments specific to their individual risk profile. Therefore we needed to partner with a provider that was able to continue to deliver this solution.
“We chose Bravura’s application to provide us with a functionally rich solution capable of administering a broad range of assets. Its scalable nature, along with its potential to reduce the costs associated with servicing an increasing number of clients makes it an excellent fit for our current and future growth needs.”
Darren Speirs, Bravura’s Head of Portfolio Solutions said: “We are delighted to be partnering with Smith Coffey. This solution leverages off of our existing Garradin application, and will enable Smith Coffey to administer a broad range of products on a single application. Negating the need for distinct software packages to administer IMAs and SMSFs, the solution provides our clients with both cost and operational efficiency.”
Garradin’s rich portfolio administration capability provides for performance and attribution reporting, tax reporting and is underpinned by its general ledger, fees engine and reporting tool.