SS&C TECHNOLOGIES HOLDINGS, INC. WINDSOR, Conn., June 24, 2019 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced the expansion of its existing relationship with Waddell & Reed into transfer agency and compliance services. A client since 1998, Waddell & Reed Financial's transfer agency subsidiary uses SS&C technology for its in-house mutual fund record keeping.
"We were impressed with SS&C's long-term commitment as an outsourcing provider, its strategic commitment to technology and the expertise of its services team," said Brent Bloss, Chief Operating Officer. "SS&C's integrated technology and services have been and will continue to be an important part of our success."
Outsourcing core transfer agency services including processing, compliance and mail center will enable Waddell & Reed to generate savings to reduce shareholder expenses. The decision to outsource is part of Waddell & Reed's strategic plan and will better position the company to achieve its growth and technology objectives.
"Waddell & Reed marks the latest example of firms selecting SS&C for outsourcing. 20 of our largest clients have outsourced some or all of their operational functions to us in the past two years. We expect this trend to continue as asset managers focus on their core competencies and move toward a cost-effective variable expense operating model," said Mike Sleightholme, Senior Vice President and General Manager, SS&C Technologies.
About Waddell & Reed
Through its subsidiaries, Waddell & Reed Financial, Inc. has provided investment management and wealth management services to clients throughout the United States since 1937. Today, we distribute our investment products through the unaffiliated channel under the IVY INVESTMENTS® brand (encompassing broker/dealer, retirement, and registered investment advisors), our wealth management channel (through independent financial advisors associated with WADDELL & REED, INC.), and our institutional channel (including defined benefit plans, pension plans, endowments and subadvisory relationships). For more information, visit ir.waddell.com.
About SS&C Technologies
SS&C is a global provider of investment and financial services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut and has offices around the world. Some 18,000 financial services and healthcare organizations, from the world's largest institutions to local firms, manage and account for their investments using SS&C's products and services.
Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.
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