Many investment vehicles and fund managers need asset servicing solutions to help them. These managers are very strict about accuracy and compliance. It is these companies who ensure that everything runs smoothly, offering specialized solutions to suit different client needs.
A list of services available in asset servicing solutions
Asset servicing solution packages offer a wide range of services and features. However, they all aim to provide fund managers with accurate and compliant reporting. These services include bank account reconciliations, cash reconciliations, asset and price verifications, timely and transparent communications to investors; monthly investor statements; financial statements for the year; and many other. Asset servicing companies can also help with fund setup, due diligence and other tasks.
These services can be tailored to meet the needs and requirements of each client and are designed to help them save money and reduce the chance of human error. This is in contrast to fund managers who have everything done in-house.
Asset servicing firms must be compliant
Asset servicing companies offer the following services and features. They also have review programs that go through all federal and state laws and regulations. These protocols ensure compliance with all laws and regulations, including the Patriot Act and Anti-Money Laundering Act of the United States. These measures also ensure that clients of asset servicing companies are protected against all regulatory risks.
Third-party firms are recommended for asset servicing by fund managers
Any fund manager who isn’t already considering these options should. Asset servicing companies employ only the best talent. They can save time and money, as well as ensure compliance. Asset servicing companies and fund managers must have a strong working relationship and be kept informed of any developments in their dealings.