FSU initiates dispute with SS&C, Insignia over offshoring move

Yasmine Raso

Senior Journalist

20 July 2026

SS&C Technologies and Insignia Financial have both become the subject of a dispute lodged by the Finance Sector Union (FSU) over the two firms’ recently announced plans to axe hundreds of local jobs in favour of offshore workers.

The slew of redundancies and job axing expected at the US tech giant and two of Insignia’s advice subsidiaries comes approximately one year after more than 1,300 workers within the administration, technology and digital teams supporting Insignia’s Master Trust business were transitioned over to SS&C.

According to the FSU, the tech firm has notified staff that “170 roles in the Operations, Technology and Delivery teams will be made redundant”, following the expiry of a 12-month firing freeze that was secured by the union.

The FSU also said that remaining Australian staff will be subject to “a selection process to determine who stays and who will be in line for future redundancies” at SS&C.

Insignia-owned Shadforth Financial Group and Bridges Financial Services will also see 59 local staff lose their jobs to the Philippines, with SS&C moving all of their jobs – according to the FSU – to their operations based in Thailand and India.

FSU National President, Wendy Streets, confirmed the union had lodged a dispute against the two companies and did not discount further escalation to the Fair Work Commission.

“Offshoring is a cancer that continues to spread across the entire Australian finance sector,” Streets said.

“SS&C Technologies, headquartered in business tax friendly Connecticut, is just the latest company to sell out its Australian workforce.

“It puzzling to think that SS&C Technologies bought half off Insignia Financial last year to get a toehold on Australian finance and now, less than a year later, they are abandoning this country in favour of Asian countries known for their poor pay and conditions.

“Remember also that SS&C Technologies is an American-owned global company – every decision about the company is made in America and people in Australia have no decision-making ability.

“The FSU has lodged a dispute with both companies and will not relent until they are held to account for treating Australian workers like pawns in a fruitless global chess game.”