“The Principal Trust implementation is a great example of the benefits of having a trust system that is built on modern-era technology,” said Gretchen Goode, Innovest Systems’ vice president of client service.

According to a statement, the firm selected the Innovest platform because it is a flexible trust accounting and wealth management system, delivered in a software-as-a-service model. The implementation is expected to be completed in six months.

Innovest Systems is a trust and wealth management technology firm, based in New York with some $300 billion in assets on its systems.

Principal Trust Company has over $95 billion in assets under administration.