Performance slipping, costs rising, and still no change. The real reasons managers hesitate to switch.
Fund managers are loyal - sometimes to a fault.
Satisfaction with service providers has fallen by 13% since 2020. Yet many managers still hold back from making a change. Even when performance dips, they stay. But why?
Some say it is inertia. Others worry about the disruption. Some simply do not have time to reassess. However, maintaining the status quo can come at a cost.
This is not just about frustration. It is about risk.
Warning signs are easy to ignore
A third of managers recently surveyed cited unreliable service as a key reason for leaving a provider. At the same time, more are flagging technology gaps as a pressing issue, with 35% saying it would prompt them to switch - up from 26% in 2020.
Still, reluctance remains. The biggest barriers are concerns about control and data security. That hesitation is understandable, but if it keeps you with a partner who is underdelivering, it becomes a problem in itself.
Time to reassess?
Here are some signs that you may have outgrown your current provider:
- You regularly chase responses or correct errors
- They struggle with local requirements in new markets
- System limitations slow your reporting process
- Your fund onboarding timelines keep slipping
- You are paying for services you no longer use
These are not small issues. They speak to whether your provider is helping or hindering growth.
The switch can be simpler than you think
Changing provider does not have to be difficult. With a clear handover plan, the process can be swift and low risk. We have defined ten steps, from early due diligence to audit handover, with NAV testing and data reconciliation built in.
Disruption is much less than expected. Due diligence and onboarding can be completed within a week without interrupting day-to-day activity. A clear 90-day notice period, aligned with your go-live date, reduces overlap and allows everyone time to prepare. We manage data transfer directly with your previous provider and handle all audit-facing reconciliation, freeing your internal team to focus on business as usual.
Our digital tools make the difference
What sets us apart is our integrated technology ecosystem. Our Tocan digital onboarding platform streamlines AML/KYC processes and can halve typical onboarding timelines. Apex Tempo provides secure collaboration from day one with real-time communication and regulatory calendars.Â
And the result? Better response times, lower set-up costs, and a team that is aligned to your fund’s direction.
The direction of travel is clear
Almost half of asset managers say they are considering a switch in the next two years. That is not noise. It is a signal. And it is worth asking whether your provider is still fit for purpose or just the one you have grown used to.
Here is our fund administrator checklist to assess your current provider or speak to our team to see how we compare. Let familiarity not be the reason you settle for less. The best relationships are the ones that still deliver.
Offers a single source model for fund, corporate, depositary, banking and ESG services
- Provides consistent service across all jurisdictions where you operate
- Has strong internal controls, automation and secure systems in place
- Understands your fund structures and asset classes
- Delivers accurate reporting without delays or errors
- Manages onboarding of new funds and markets efficiently
- Supports your regulatory and compliance obligations reliably
- Combines global scale with practical local knowledge
- Proactively improves service quality without being prompted
- Provides clear, predictable fees with no surprises
Use this checklist to assess whether your service provider is still meeting expectations. If you are not ticking every box, it may be time to reassess.
We have delivered smooth transitions for managers across asset classes and geographies. If a switch is on your mind, we can help you assess what is possible and deliver it without delay.
