11/29/2021 | News release | Distributed by Public on 11/29/2021 00:27
The decision to change to a new fund administrator can be a scary one, with the potential to burden resources and cause disruption. However, the decision is also often unavoidable, as it is often preceded by an increase in growth and overall needs. Remaining with an existing service provider simply to avoid the task of a daunting conversion process can prove costly, as lapses in service and an inability to scale can impede your ability to compete and perform.
It's important to choose an administrator that has a disciplined conversion process with full ownership of deliverables and timelines. Choosing the right fund administrator with the right technology can help make the process less painful.
The most frequently cited drivers of changing administrators are
There are several areas of concern where technology can be especially helpful. For instance, conversion of historical data into new formats. The right technology and tools can translate data from legacy systems and formats into a new infrastructure in a way that it is usable from day one. Choosing a provider with expertise in aggregating, validating and managing vast volumes of unstructured data enables you to meet regulatory, investor and third-party reporting obligations.
Choose an administrator with the ability to demonstrate a proven conversion planning and execution methodology, advanced technology and experienced change managers. A provider with a modern, scalable technology infrastructure and highly capable people can make the transition seamless and painless.
SS&C is the world's leading fund administrator, with more than $2 trillion globally in assets under administration. We have a proven conversion methodology, and we have successfully transitioned hundreds of funds to our administration platform and service model. To learn more about how to choose the right fund administrator for your needs, download our whitepaper.