The reciprocal benefits of a custodial partnership: A case study
Learn how we implemented new strategic processes for a firm looking to grow their customer base in an ever-changing marketplace – and how our other clients benefited in return.
One of the most important qualities of a good custodian is the ability to support business expansion and evolving needs. Here’s how one multifaceted firm went about finding a partner to do just that.
Identifying the situation
An independent investment management firm engaged U.S. Bank to service its mutual fund family. At the time, the firm self-custodied its separately managed account business in-house, but to keep up with a growing client base and accommodate changes in the marketplace, they determined it was time to partner with a third-party custodian.
The firm’s decision-makers knew they’d need a custodian that could not only service their existing private client business, but also handle volume growth and anticipate increased product servicing needs. The best provider would be one with streamlined communications and efficient processes.
Developing a mutually beneficial partnership
The firm selected U.S. Bank to serve as its custodian and we successfully and efficiently converted 5,000 accounts with more than $7 billion in assets.
The story doesn’t end there – not only did we help this client, but they helped us grow and mature in return. Taking the time to fully understand and accommodate their business needs pushed us to refine our processes and strategies – to our benefit and the benefit of our other clients. This is what defines a quality partnership: both parties bring out the best in each other and drive each other forward.
Here are some of the ways partnering with this client prompted us to enhance our customer service model.
Our relationship with this client started with servicing a few mutual funds and was nurtured over the years into a partnership has benefited both parties in numerous ways. By continuing to prioritize communication and flexibility, we’re excited to see how this relationship will continue to develop long into the future.
At U.S. Bank, we serve as a trusted custodian by supporting our clients’ evolving business needs. To learn more about the investment services we offer, visit us at usbank.com/investmentservices.