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Mutual Fund Solutions
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Business Challenge

Our client, founded in 1983, has more than $8 billion in assets under management and serves investors through its three no-load mutual funds with a common objective of long-term capital appreciation. Their core values are rooted in industry-exceeding customer service, teamwork, and education. They came to U.S. Bancorp Fund Services looking for a provider who could support their image, reputation, and service levels in addition to providing:

  • A dynamic and diverse service team who was able to assimilate to their corporate culture and become a transparent extension of their organization.
  • Highly tenured investor services representatives.
  • Increased service quality across their individual and institutional investor client bases.

Our Solution

Led by the client’s relationship manager, we used a project-management methodology to identify their business requirements, service expectations, and reporting needs. Through weekly conferences calls to review the status of their detailed project plan, we successfully converted our client’s more than 130,000 shareholder accounts with no impact to their operations or shareholders. Key services delivered included:

  • Identification of 14 members from our client’s core servicing team to participate in their two day onsite “Cultural Infusion” event, which included interactive sessions relating to their company history, investment philosophy, and their definition of superior customer service.
  • Coordination of more than 20 annual facility visits at our Milwaukee, Wisconsin headquarters. Each visit featured product demonstrations, customized training, and an opportunity for our client to meet with key service team members and senior management.
  • Exchange of budgetary, marketing, and strategic best practices to develop comprehensive lead source and closed loop marketing reports.
  • Development of uniform verbal and written shareholder communications.
  • Oversight of projects related to electronic media and shareholder communications including customizing shareholder statements, actively enrolling shareholders for eDelivery services to reduce expenses, soliciting shareholder feedback to improve the functionality of our client’s Web site, and customizing shareholder reports and written shareholder correspondence. We also provide our client with detailed statistics on the nature of their shareholders’ calls.
  • Through collaborative conference calls and in-person meetings, we established procedures that compliment our client’s 12b-1 process and developed nine customized reports to generate accurate, detailed data to satisfy their more than 340 active selling agreements.

The Result

Our open communication, oversight, and proactive approach resulted in significant cost reduction and process optimization for our client. Our accuracy level for processing shareholder transactions is 99.9 percent. We also enhanced our client’s business model by increasing the effectiveness of their 12b-1 payment processes and providing budgetary, marketing, and strategic best practices to develop comprehensive lead source and closed loop marketing reports.

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