Financial Synergy’s chief executive officer and managing director has resigned after just over a year at the helm to return to his consulting business.

Ken Galbraith resigned last week and is due to leave the company on May 8, returning to his own Circatec consultancy.

He has been with Financial Synergy on and off since 1995 in various roles such as external adviser, director and most recently as CEO.

A spokesperson for the Melbourne-based superannuation administration and software provider said the firm had hired a recruitment company to search for Galbraith’s replacement.

Meanwhile, Financial Synergy has signed up FirstSuper (previously the Timber Industry Superannuation Scheme – TISS), the industry fund for the furniture, paper and forest industries to its new automatic contributions processor, Acurity Translator.

The product, which provides straight-through processing of contributions, is currently being marketed to clients. FirstSuper first trialled Acurity Translator during its transition from TISS in June 2008, when the product was still in the development stages.

“They’ve really helped us to build that product to a more marketable product,” the spokesperson said.

“They took it in its alpha and beta stages, whereas now it’s a fully releasable product.”

The firm has also signed up South Australian dealer group Financial Advisory Services (FAS) to its self-managed superannuation fund administration service, and has redeveloped the Acurity Online product using the Google web tool kit and Java frameworks to “provide a richer experience for users”.

The enhanced Acurity Online product is due for release shortly and will be rolled out initially within the Financial Synergy employer super fund.

“We’re positioned for growth; we’ve got a capable and stable team of people across the business, we’ve got a strong sales pipeline and we’ve developed an innovative and functionally rich roadmap for Acurity and we’ve achieved some of our commitments for the past year,” the spokesperson said.

The three general managers – Tim Percy, Jason Carter and Robert McKinlay – remain in their roles as general manager of consulting and business development; information technology; and administration and investments, respectively.

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