Third Financial reports healthy H1

Source: Third Financial

Third Financial Software, provider of wealth management software solutions, has today announced further rapid growth of its business. The London-headquartered company has expanded hugely from its inception in January 2008, growing its revenues by 90% in 2010 and is already on track to achieve a similar number in 2011.

The company has won six new clients in H1 2011 and has further penetrated the wealth management and family office markets which it entered with Williams De Broe and Iveagh in 2009.

With the addition of these new clients to Third Financial's roster, this brings the total number of clients to over 20, including full service capital markets business, XCAP Securities, and Halkin Investments and Tamsel (UK) - two London-based family offices.

Stewart Foster, chief operating officer of Third Financial commented: "Wealth managers are all fully aware that in today's market, bespoke service is a major differentiator and is vital to retain clients. This, coupled with regulations such as the new FSA requirements regarding suitability, is increasing reliance on wealth management systems to provide real value in these areas. I am delighted with the feedback from our clients, and the traction tercero Wealth Workstation is gaining in the market - it is becoming the platform of choice."

To meet increasing demand for its tercero Wealth Workstation, Third Financial has increased its headcount by 25% and strengthened the organisation by incorporating a new management layer. This includes three newly created positions: head of development, head of operations and chief application architect. With further expansion planned for 2011 and beyond, Third Financial has relocated its headquarters to in Covent Garden while growing its development centre in the Midlands.

Founding director of Third Financial, Gary Linieres added: "Our early decision to integrate Microsoft Dynamics CRM and SharePoint technologies with our own Microsoft-based Portfolio Management tools is starting to bear fruit in the market. We have an integrated solution that has been architected with the private client manager in mind with emphasis on usability, flexibility and compliance. We have proven installations across the wealth management, private banking and family office segments and are set for significant growth this year."

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