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19 March 2024

AI, Direct Indexing, M&A, and Innovations | SS&C Advent's Take on Industry Trends

SS&C Advent continues to lead the way in investment management innovation.

Staying ahead of the curve is our top priority as the industry evolves. We engage in constant dialogue with our clients to immerse ourselves in the marketplace challenges; through continuous innovation and experimentation, we find new ways to benefit our clients.

In a recent Tech It Up podcast episode, Innovations and Strategies Shaping our Investment Community, SS&C Advent Co-General Managers Karen Geiger and Steve Leivent discussed the company’s direction, recent industry trends, and details on their partnership. In the conversation, they both acknowledge that there is always some question as to whether a co-leadership arrangement can work – and they answer with a resounding “yes,” pointing to the group’s success as proof. During their tenure, SS&C Advent has grown to 3,000 people and now oversees several newly acquired business lines while making significant strides with their core business.

Listen to the podcast for Karen and Steve’s insights on key industry, technology, and business trends. Among the highlights:

  • Direct Indexing and tax alpha: Conversations with clients indicate that these will be top-of-mind topics. Investors seek more differentiated strategies, and managers look beyond model portfolios to offer personalized, tax-efficient solutions.

  • M&A in wealth management: Mergers and acquisitions in the advisory space show no signs of slowing down. Steve discusses the key players and drivers of the trend and what it says about the health of the business.

  • AI: ChatGPT has taken the world by storm and spawned several imitators. Karen talks about use cases for large language models and the work of our development teams to leverage this rapidly evolving technology.

  • T+1: Client firms are in varying stages of readiness for the transition to next-day settlement. Engagement with them is key, says Steve. SS&C Advent is actively working with clients and leading roundtables to bring each other up to speed.

Karen and Steve also report on the state of innovation at SS&C Advent. The past year has been a busy one for product advancements, including:

  • The growing prominence of the Genesis Platform, described as the foundation of a multi-year transformation to full cloud delivery.

  • The SS&C Loan Data solution, currently in Beta, which digitizes paper-based loan information for straight-through processing in Geneva.

  • Introduction of the Black Diamond CRM.

  • The rollout of the SS&C Rendezvous model marketplace and proposal generation solution for Black Diamond clients.

A major initiative in the year ahead, Steve says, is to build on successful collaborations between SS&C Advent and other product groups in the SS&C family, which are already resulting in exciting new solutions and capabilities coming to market. Additionally, Karen talks about building a positive, entrepreneurial culture that keeps people motivated and encourages innovation, resulting in one of the industry’s highest employee retention rates.

Check out the podcast and stay tuned to the end, when Karen and Steve reveal the best career advice they ever received.