Financial Synergy

In Australia's growing financial landscape, David Orford founded Financial Synergy, a privately-owned company set to tackle the complexities of superannuation. The business focused on providing essential fund administration software for the country's superannuation and wealth management industries. Based in Melbourne, the company developed core software solutions that helped its clients manage member services and navigate constant legislative changes. The company carved out a significant niche. Its primary product, Acurity, became a key platform in the industry. By 2016, Financial Synergy's software was integral to the operations of its clients, managing a substantial portion of Australia's vast superannuation assets. A pivotal chapter in the company's story unfolded in September 2016, when the financial technology firm Iress announced its agreement to acquire Financial Synergy. The deal was valued at up to A$90 million in cash. For Iress, the acquisition was a logical step to complement its existing financial services technology and expand its scale within the critical superannuation sector. The acquisition was completed by October 31, 2016. Following the transaction, founder David Orford transitioned into a consulting role with Iress. The existing senior management team was retained to ensure continuity, signaling the value Iress placed on the team's expertise and client relationships.