SS&C acquired FPS Trust, a non-depository trust company, from IPX Retirement. FPS Trust focuses on providing services to banks and institutional retirement plan providers. Financial terms were not disclosed. Based in Centennial, Colorado, FPS Trust offers high-volume beneficiary distributions, paying agent services and tax processing solutions to institutional trustees and retirement plan administrators. FPS Trust will operate within SS&C Innovest. Previously, SS&C Innovest partnered with FPS Trust to provide paying agent services to their existing clients on the SS&C InnoPay high-volume employee benefit payment processing platform.
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