Service providers our recent fund administration roundtable let GPs know what they want out of their client relationships – and what doesn’t work. For the full roundtable, click here.
Tom Angell: “From a service provider’s perspective, we want a client to reach out to us before they finalize a deal or any potential transaction that has tax consequences. We develop a relationship with our clients where the client is comfortable picking up the phone and having us involved in the process. They know they won’t be getting a bill if we have a 30 minute phone call. If it becomes a project then we discuss a fee structure. The client understands we are investing in them and the long term relationship.”
Sean Reilly: “The most difficult relationships are when the GPs are not committed to treating the fund administrator like an extension of their team. If GPs treat the fund admin team with the same respect as their own staff, it has a positive effect on employee moral throughout the organization and contributes to keeping employee turnover low. CFOs should monitor this dynamic.”
Oliver Freigang: “Just for my own interest, I’d like GPs to be more open to looking at something new. I know people are very busy, but it would be nice if some people were more respectful and giving with their time.”