Conversions

Conversions 2018-06-05T14:13:24+00:00

As your registered fund grows, you may find that your current service providers don’t have the capacity to provide the robust administrative services or personal attention that your expanding fund needs. Unfortunately, you may be delaying a move to a stronger provider due to fear of service interruptions or the additional work involved, or perhaps you’ve grown accustomed to the mediocre service your fund has been receiving. However, a well-planned, comprehensive, and timely conversion plan that focuses on all affected parties – shareholders, advisor, boards, wirehouses, institutional investors, and platforms – will yield a well-executed conversion that is seamless (or possibly invisible).

Since 2001, Gemini has completed more than 100 successful conversions, some with as many as 19,000 accounts and 13 portfolios, so we understand how to build an effective implementation plan that’s both efficient and highly nuanced. Through a consultative approach, we tailor a service package to meet your fund’s unique needs, with a Gemini relationship manager overseeing and guiding the entire process. Once implemented, this new relationship with Gemini affords you the following important benefits:

  • Greater efficiencies and potentially lower expenses, especially within the series trust model

  • Access to our relationship management team, which works with each you to open channels of distribution

  • Access to a team of highly seasoned administrative, accounting, and transfer agency professionals with extensive industry experience

  • Access to state-of-the-art technology

  • Innovative and integrated products and services

  • Access to hundreds of established selling agreements in the series trusts

  • Potentially lower platform fees

  • Significant value in product pricing

  • Through our series trust model, an easier, less time-consuming relationship and meeting schedule with board of trustees

  • Experienced, independent boards that understand complex products, structures, and investment strategies

Additionally, Gemini holds the following certifications, offering you piece of mind that we adhere to high standards and are prepared to handle a variety of situations:

  • SOC1 – Fund Accounting Operations (re-certified every six months)

  • SOC1 – Transfer Agent Operations (re-certified every six months)

  • ISO 27001 – The highest security standard in the technology industry (re-certified annually)

Extensive Menu of Services

As a partner with Gemini, you’ll gain unparalleled fund accounting, fund administration, and transfer agent services that bring efficiencies to even the most successful funds. Beyond that, Gemini also enables continued fund growth by providing valuable distribution support, access to managed account platforms, and solutions for hedge and alternative funds.

Distribution services include:

  • Analyzing, redefining, and/or enhancing your fund’s distribution model and channels

  • Guidance and introductions to marketing resources to increase fund exposure

  • Evaluation, prioritization, and introductions to fund supermarkets, retirement platforms, existing dealer arrangements, and broker-dealer platforms

  • Enhancements to other marketing arrangements your firm may have with wirehouses and broker-dealers

  • Defining or enhancing of your fund’s distribution plan

Types of Conversions

Gemini supports advisors looking to improve the business model for their existing mutual funds or ETFs through a variety of conversion styles, both to and from standalone trusts, series trusts, and hedge funds.

Technology & Infrastructure

Investing in technology is not the same as efficiently using it. At Gemini, we do both. We continue to develop and improve our systems to manage mutual fund and ETF firm operations and customer transactions more efficiently and cost-effectively.

Our open architecture platform allows us to work with affiliated and complementary service providers on your behalf. The seamless integration of our administration and accounting systems, combined with exceptional shareholder services, allows us to provide unique, customized solutions.

We have full support for system conversions, both manual using data feeds sent to us or system, with assistance and programming work done by our partner Envision. Mergers can be processed as a part of the conversion or can be processed as a one-off using built-in modules within the recordkeeping system. As a part of that module, all National Securities Clearing Corporation (NSCC) activity reporting is automated using the appropriate transactions and codes based on the merger type.

Human Resources

We understand that it is important to have experienced individuals involved throughout all stages of any project. All personnel involved during the transition will be active and available to you on an ongoing basis through the completion of the process.

Controls & Procedures

Due to the high level of conversions we handle annually, we’ve adopted strict controls and procedures specific to each type of conversion, including items that have been negotiated in conversion agreements with outgoing providers.

Upon commencement of our relationship, our onboarding service team works with you to create a customized conversion plan designed specifically to meet your firm’s workflows and preferences.

To discuss more about converting your fund to Gemini, contact a member of our sales team.

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Trust Conversions

As a fund matures or business plans change, advisors may need a different approach to their trust services. Thus, a move to a different type of trust may be prudent. Gemini specializes in helping advisors improve the business model for their existing registered funds through conversions from:

  • Standalone trust to standalone trust
  • Series trust to series trust
  • Series trust to standalone trust
  • Standalone trust to series trust

Learn more:
Discover the Difference – Standalone vs. Series Trusts