Fund administration services were falling short for a $300M hedge fund struggling with inconsistent support and high staff turnover from their previous provider. These issues caused operational disruption and eroded trust. The firm urgently needed a more stable solution to deliver consistent service, US-based support, and cost-effective administration aligned with their expectations.
CASE STUDY
Fund Administration Services That Restored Client Trust After Service Failures
A $300M hedge fund turned to STP after inconsistent fund administration services eroded trust—gaining a stable US-based team and better results at the same cost.
The Challenge:
The Requirements:
To address these issues, the firm sought an administrator that would offer: Low employee turnover to ensure continuity and familiarity with the client’s needs, a US-based service model to provide more accessible and personalized support, and competitive fees that aligned with what they were already paying, despite their current administrator’s lack of performance.
The Solution:
Our solution involved presenting a stable, US-based team with a strong history of delivering exceptional service. We introduced a US-based Service Manager with a proven track record and long tenure at our firm, as well as a US-based Relationship Manager who has worked with a similar client for years, ensuring familiarity and continuity in communication.
Additionally, our fees were structured in line with what the firm had been paying their previous administrator, despite the significantly higher level of service we provided. This allowed us to address their service concerns while keeping costs in check.
The Outcome:
By tackling the client’s key pain points—service, cost, expertise, and resources—we were able to deliver a solution that restored their faith in their administration provider. The client now benefits from a dedicated team that understands their unique needs, ensuring a smooth and reliable experience.
Service: We addressed the client’s need for consistent and high-quality service with a dedicated, US-based team. Cost: Our fees were aligned with the client’s previous administrator, offering superior value without compromising on service. Expertise: The US-based team brought industry-specific expertise that the client had been missing. Resources: By leveraging our international back-office resources, we were able to provide enhanced support while maintaining cost-efficiency.
