Fund Administration Frustration: You’re Not Alone in Feeling Alone

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.