#United States #Wealth Management #SSC Technologies #First Merchants #Muncie

First Merchants Private Wealth Advisors Integrates SSC Trust Suite

In a significant development within the financial services industry, First Merchants Private Wealth Advisors has adopted the SSC Trust Suite. This transformation aims to bolster its private banking and trust functions through advanced technology solutions. Announced on December 10, 2024, this partnership with SSC Technologies Holdings, Inc. signifies a strategic move to enhance operational efficiency and provide an optimal client experience.

Details of the Integration

First Merchants, part of First Merchants Bank and based in Muncie, Indiana, has over $4 billion in assets under management. Given the firm's ongoing growth trajectory, driven by both organic expansion and acquisitions into regions such as Ohio and Southeast Michigan, the need for a robust, scalable technology solution became increasingly evident. As client demands evolved, the limitations of the previous trust accounting system and CRM platform prompted the search for a new, integrated solution that would better serve their operations.

After an exhaustive selection process lasting six months, the SSC Trust Suite was chosen for its highly integrated components and robust support from the SSC team. Mark Hardwick, the CEO of First Merchants Corporation, expressed enthusiasm for this partnership, noting that the cloud-based nature of the solution equips them to adapt to their clients' needs effectively both now and in the future.

The SSC Trust Suite is designed to provide a comprehensive, cloud-delivered platform encompassing managed operational services. It streamlines workflows and boosts operational efficiency, culminating in a state-of-the-art, interactive client experience. Notably, the Suite integrates functionality from SSC’s wealth offerings, including:

• - The Black Diamond® Wealth Platform: Offers essential features for data aggregation, performance reporting, and financial planning.
• - InnoTrust: A principal and income accounting solution, accompanied by Managed Services that facilitate outsourcing back-office operations.
• - Salentica Elements: A CRM solution tailored specifically for investment management firms.

Benefits of the New System

The integration of the SSC Trust Suite positions First Merchants Private Wealth Advisors to enhance its service delivery significantly. This system not only streamlines internal processes but also enriches the advisor-client interaction. By leveraging comprehensive data insights and a suite of management tools, advisors can deliver personalized financial strategies that resonate with the specific needs of their clients.

Bill Stone, the Chairman and CEO of SSC Technologies, conveyed his pride in collaborating with a prestigious institution like First Merchants. He emphasized that SSC's comprehensive offerings and dedicated team have empowered First Merchants to elevate its operations to meet the demands of a competitive market.

About SSC Technologies

Founded in 1986 and headquartered in Windsor, Connecticut, SSC Technologies is a global leader in providing software and operational services across the financial services and healthcare industries. The company's client base spans from large financial institutions to smaller firms, reflecting SSC's capability to cater to a broad spectrum of market needs with tailored solutions. Today, approximately 20,000 organizations rely on SSC for its expertise, technological innovation, and scalability.

As First Merchants continues to evolve in the dynamic landscape of wealth management, the adoption of the SSC Trust Suite marks a pivotal step toward future growth and client satisfaction, showcasing how technology can empower financial services today and in the years to come.