How The Client Service Professional Enhances The Fund Administration Experience

The Client Service Professional ("CSP") model streamlines fund administration by providing clients with a single, dedicated point of contact – enhancing efficiency, strengthening communication and ensuring a seamless client experience.

Fund managers frequently reassess their service providers to ensure they receive tailored support, timely deliverables and operational efficiency.

For firms seeking a more integrated approach, the CSP model ensures proactive engagement, real-time oversight and seamless fund administration.

Why Do Fund Managers Change Administrators?

From the onboarding process, firms often start to discover shortcomings in their service provider's ability to meet evolving needs. Common challenges include:

• Lack of portfolio alignment, where administrators fail to understand investment strategies and client's requirements;
• Operational inefficiencies, such as delayed reporting or insufficient investor engagement; and
• Rigid service structures, offering little customisation or responsiveness.

The CSP model directly addresses these concerns, offering fund managers a single, informed point of contact who understands their requirements and provides a customised set of solutions. The result is a streamlined experience that simplifies operations for clients – exactly why they choose to bring on a third-party service provider.

The CSP Model in Numbers

Recent industry insights suggest that a significant percentage of managers are considering a switch because of fragmented service models and administrative inefficiencies.

According to a recent study by alternative assets data provider Preqin, 43% of alternative asset funds are considering a new fund administrator. The top seven reasons for fund managers seeking out a new third-party administrator include:

• Needing more support as the firm grows;
• Costs;
• Investor concerns;
• Knowledge and technology;
• Regulatory requirements;
• Accountability for errors; and
• Dialogue and communication.

The CSP Model: An Integrated Approach to Fund Administration

The CSP model accounts for all of those factors to help create a seamless experience for fund managers. With the CSP model, fund managers work with one dedicated professional responsible for all aspects of service delivery. It is typical for each CSP professional to manage 10-20 clients, holding regular touchpoints to discuss:

• Fund accounting and investor Know Your Client ("KYC") matters, and best practices in application;
• FATCA / CRS (AEOI) and Beneficial Ownership Transparency Act (BOTA) related matters;
• Portfolio performance insights and regulatory considerations; and
• Fund structuring and investor engagement priorities.

This top-down oversight ensures CSP professionals remain well-informed and prepared to assist, while the client can rest assured that the CSP will be able to speak fully on fund operations, eliminating any inefficiencies caused by disconnected service teams.

Conversely, traditional service providers often rely on generic account managers or team-based email channels, leading to:

• Communication gaps because of limited subject-matter expertise;
• Response delays caused by time zone differences or incomplete portfolio knowledge; and
• Disruptions in service, requiring fund managers to re-explain priorities repeatedly.

The Maples Group Difference

At the Maples Group, our CSP model is built on a foundation of expertise, integration and client-focused service, ensuring fund managers receive seamless administration and regulatory support tailored to their needs.

What sets us apart?

• Comprehensive, multi-service expertise – We provide a full suite of fund administration and regulatory / compliance services, including fiduciary and legal support, with specialised skill across teams, including experience with regulatory organisations. This allows alternative asset managers to streamline operations and focus on core strengths.
• Private ownership with a strategic focus – Our private ownership model ensures our focus remains on client success and service innovation, rather than external shareholder interests.
• Deep experience across investment strategies – With a strong track record spanning decades, the Maples Group supports hedge funds and private asset funds, adapting to diverse fund structures and evolving market conditions.
• Industry-leading technology and global efficiency – We leverage the latest in vendor and proprietary fund administration technology and a follow-the sun processing model, providing clients with real-time responsiveness across time zones.
• Dedicated local client service teams – Our experienced professionals work closely with fund managers, delivering award-winning expertise and ensuring hands-on, high-touch service.

Additionally, our extensive global network enables us to support clients across multiple jurisdictions, ensuring firms have access to flexible, scalable solutions as regulations shift, investment strategies evolve, and operational needs expand.

Real-World Application: How The Maples Group Support Clients

The Maples Group recently worked with an Asia-based venture capital client that engaged us for full fund administration services, including client accounting, directorship, and regulatory services for one of Its funds.

It was determined that domiciling the fund in the Cayman Islands would be the optimal solution. Since this was the client's first time managing a fund in that jurisdiction and outsourcing operations, the CSP took a proactive approach to ensure crystal-clear communication regarding workflows and regulations. This process entailed:

• A timetable for relevant deliverables and key tasks such as quarterly net asset value ("NAV") and partners' capital account statement ("PCAP") reporting, audit timelines and capital call / distribution notices;
• Regular meetings to gather client service feedback, including quarterly post-NAV delivery calls; and
• Developing a bespoke package of client services that also encompass Maples' fiduciary and legal services, including legal counsel, independent directorship and board support.

Through this high-touch approach, the client navigated the complexities of Cayman fund structuring, ensuring operational clarity, regulatory alignment and investor confidence.

Future-Proofing Fund Administration

As fund managers continue to navigate a complex regulatory landscape and expand globally, an integrated, high-touch service model is becoming increasingly vital. For those considering a provider transition, our previous article on "Changing Your Fund Administrator" highlights key decision-making factors.