Scott Shebelsky, CFO of financial services-focused firm Lovell Minnick Partners, is wary of service providers that hold your data “hostage.” In fact it’s what annoys him most and one of the biggest reasons the firm decided to ditch its fund administrator.
“There are times when you need to make a quick decision and some of the inputs needed are held by your provider,” he tells Private Funds CFO reporter Brian Bonilla. “Having to dissect work papers and pull information from disparate sources or wait for your admin to get back to you does not lend itself to brevity.” Brian caught up with Shebelsky following his promotion to CFO; read the full interview here.
Elsewhere we have a mini-briefing on what happens when a disruptive event, such as a key person departure, causes a GP to revisit the LPA from fund lawyer Nigel van Zyl.
Email prepared by Toby Mitchenall.