At Broadscope, we have successfully completed many conversions from in-house teams as well as from other fund administrators. We have developed and utilizes an efficient process to become operationally ready for full-service administration quickly. In fact, we typically complete conversions of single fund complexes within 30 days and multiple fund complexes within 60 days.
We do the heavy lifting throughout the conversion process – gathering, uploading and verifying fund data. Throughout the process, we utilize:
Detailed checklists at various stages of the process.
A secure Web portal for safely gathering important documents and sensitive data.
Standardized data upload templates to save time and simplify data entry.
Our approach has been successful because we focus our initial efforts on converting the critical data needed to support operational readiness. As a result, we are quickly prepared to issue a capital call or distribution to your investors, wire funds for deal closings, pay vendor invoices and ensure that financial statements and partner capital statements are issued timely.
Once operational, we shift our conversion focus to creating Web-based performance reporting dashboards that make your firm stand out with your investors and among your peers.
We had a lot of data because we converted 13 funds, 300 underlying funds, 700 limited partners. I was concerned with how long it would take, how much it would impact our team and the accuracy after it moved over. I didn’t really believe them when they told me it was going to be smooth, but they were right. They absolutely exceeded my expectations.
Heather FoleyCFO, Park Street Capital
When we first worked with Broadscope, I was worried about getting years of our data, and our limited partner information, onto the platform. I have to say that I was shocked at how well that went.