Why do firms delay a move to a stronger service partner as they grow? Most often, it is the fear of a conversion. For mutual funds, a well-planned, comprehensive and timely conversion plan, focused on your most important clients – shareholders, RIA’s, wirehouses, institutional investors and platforms – will yield a well-executed conversion that is seamless (and possibly invisible) to them.
Moving your fund administration, accounting and transfer agent services is a process, but it
doesn’t need to be a difficult one. Every conversion has common processes but unique details.
At Gemini Fund, our relationship managers oversee and guide the entire process. Varying
systems and interfaces, class and corporate structures, fund types and objectives, platforms and
omnibus arrangements, expense accruals and corporate actions, fiscal year-ends, tax filings,
and SEC reporting are only a part of the project we administer for you and your shareholders.
And of course, we work closely with you to oversee the complete and timely cooperation of the
retiring service provider(s).
If your funds are in their own standalone trust, approval by your board of trustees of the move to
Gemini Fund puts you well on your way. No shareholder proxy is needed and Gemini Fund can
help you and your board move any other services for your fund to the provider of your choice,
including audit services, custodial services and more.
If your fund is in a series trust, you’ll not only need board approval but will also need to proxy your shareholders for their approval as well. Gemini Fund is here to walk you through this process. Conversion costs also vary. They can include potential de-conversion costs associated with your current provider, the cost of a shareholder proxy if that step is necessary, and the additional steps needed to convert your fund to Gemini Fund.
As we talk through this process with you, we will be able to establish a timeline and determine your estimated costs more accurately. Every adviser has a different set of challenges, yet they share the common goal of increased assets under management. Gemini Fund will help evaluate the challenges unique to your firm, and make recommendations accordingly. Regardless of the circumstance, advisers
continue to turn to Gemini Fund to provide expert support for their existing funds, as well as the launch of new ones.
BENEFITS TO YOUR GROUP MAY INCLUDE:
- An easier, less time consuming relationship and meeting schedule with your Board of Trustees, helping you enjoy your business again
- Experienced, independent boards that understand complex products, structures, and investment strategies
- Greater efficiencies and potentially lower expenses, especially within the series trust model
- Potentially lower platform fees
- Access to our inside sales desk
- Use of our Key Accounts team that works with your fund to open channels of distribution
- Access to hundreds of already established selling agreements in the series trusts
Gemini Fund is an established provider of comprehensive solutions for pooled products, including mutual funds, ETFs and funds sold on insurance platforms. We pride ourselves on our consultative approach to business, believing we are true partners with our clients in achieving the vision for their products. We look forward to working with you in tandem, on the pooled products your firm supports. To get started, contact us today!