Are you feeling alone and frustrated with your outsourced fund administrator because they won’t invest the necessary time to help you resolve your questions or because they just can’t answer your questions?
At Reliant Fund Services, we work to ease your mind. It doesn’t matter how large or small your problems are. We will listen to you and will spend the time needed to resolve the issues.
Take the following case in point:
A controller at a private equity fund was referred to Reliant by an existing client. The controller was working with another fund administrator and he needed guidance on recording blocker taxes for his fund’s books. Because this was the first time the controller had to handle blocker taxes, he needed to understand the reporting required on both the book and tax side and how these would reconcile with each other. He had asked his fund administrator, auditor, tax preparers and even some colleagues for help, but no one was willing or able to take the time necessary to explain what needed to be done.
Unanswered Questions:
He felt frustrated and alone despite being surrounded by numerous advisors. His questions weren’t being answered. One problem is that in many situations, other fund administrators won’t discuss anything to do with taxes. They just say, “Ask your tax preparers.” Another problem is that the auditors know what they know. The tax preparers have their own specialty. But the two groups don’t communicate. The book side and tax side are addressed separately. As a result, the controller couldn’t get a complete understanding of the issues he faced and wasn’t able to get any help.
Although this wasn’t an existing Reliant client, we were happy to help and we spent more than a year with the controller, reporting all transactions on both the book and tax side. As a result, now the controller fully understands the whole picture of blocker taxes and is no longer feeling frustrated and alone. Our expertise and willingness to help made the difference.
We genuinely want to help our clients resolve their problems and we are willing to take the time necessary to learn our clients’ issues and pain points and work through them through resolution. “That’s what we’re here for” says Eric A. Schultz, Founder and Managing Member, of Reliant Fund Services. In this case, we were willing to make the up-front investment of our time and let the controller “test-drive” our services the way you would with a new vehicle, with no obligations and no commitments on his part. It paid off in the end as the controller decided to leave the fund’s previous fund administrator and switched to Reliant because he saw the value we can bring to him and his management team. Reliant is and will always be a solutions-driven firm.