Fund managers need to close their funds and manage their firms more efficiently, with fewer people, than ever before. To do that, they need solutions that offer immediate and meaningful scale from an operational perspective, but also deliver the seamless digital experience that investors have come to expect.
A full-service solution with STP and Passthrough
“There continues to be a convergence across public and private markets where a single financial institution now needs front, middle, and back office services across all their different product segments,” says Dan Ceneviva, Head of Product and Technology at STP. “STP has the foundation, the people, and the expertise to offer a unified, tech-enabled fund admin and investment operations service where our clients can go to one place to see their entire book of business, whether they're looking at their private capital vehicles, their traditional institutional accounts, or even their wealth management portfolio. Passthrough is a very specific, very valuable part of that lifecycle.”
“We think investor onboarding should be solved at the infrastructure leveI, which means we don’t need to be another destination for fund managers and investors to constantly check,” says Tim Flannery, Co-founder & CEO of Passthrough. “By connecting with our infrastructure, STP’s clients have a single place to monitor their raise, provide their investors a simplified, digital investor onboarding experience instead of pen & paper, and close their funds weeks or months faster.”
Immediate scale and complete transparency to close faster
With the partnership, fund managers can replace manual reviews of pdf sub docs and tangled email threads with a few clicks in Passthrough’s platform. They can bring investors on quickly and give them an intuitive onboarding experience. They have a single place to coordinate their external counsel, compliance and tax teams, and investors. Once the fund has closed, completed documents and data is processed by STP and shared with the manager, and the manager’s investors.
Initially, STP clients’ subscription documents will be implemented directly on the Passthrough platform. Data will then be seamlessly transferred into STP's core processing engines, giving fund managers and investors a seamless digital journey and further accelerating operational efficiencies.
“Passthrough gives asset managers the immediate ability to scale,” says Dan. “Having real-time insight into where their investors are in their sub doc process and being able to instantly remedy any problems is transformational, and it immediately means you can do more with less.”
An elevated onboarding experience that exceeds investor expectations
Both Passthrough and STP focus on consumer-grade digital experiences. “There's been a massive increase in people investing in alternatives since 2009,” says Ben Doran, Passthrough’s co-founder and COO. “And for them to build a diverse portfolio, they have to make a lot of fund commitments. Compared to investing in stocks on Robinhood or Schwab, for example, where it takes seconds to make a trade, it takes upwards of an hour for an investor to fill out a sub doc. Passthrough is the solution for all investor types, from these emerging investors to large institutions.”
“A solution like Passthrough completely transforms the very first real interaction an investor has with an asset manager,” says Dan. “We're getting to a world where if you can't provide this type of seamless, convenient digital onboarding experience, it's automatically a negative first impression.”
Grow your fund with this partnership
Through this partnership, Passthrough and STP offer a fully unified platform to gain immediate scale and complete transparency into their raise, and bring on investors quickly.
“Our goal is that if you're an investor, you can stay on one platform: the one the fund manager selected.” says Ben. “You don't need to log in to multiple places. Fund managers can choose the best tools but also have the benefits of it acting as a single solution. It’s the best of both worlds.”
Find out more about how you can transform your investor onboarding with Passthrough and STP. Get in touch with our team today at sales@pasthrough.com or by requesting a demo below.
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