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Fund Distribution services for the Fund Lawyer?

Fund Distribution services for the Fund Lawyer?

The View

BirdMobile-1 Fund Distribution services for the Fund Lawyer?

Fund Lawyer’s provide ‘traditional’ legal services to the Fund or should they expand their range of services to assist a Fund in its route to the investor and/or Fund Distribution?

This subject is often discussed by fund lawyers ‘how do the accountancy firms offer legal, advisory, and more recently fund distribution services to their fund clients?’. Many fund lawyers are keen to roll out additional services moving away from the ‘traditional legal services model’. We work with a number of law firms, some on a white label basis, to help them serve clients better, and increase revenue.

Hiway500-1024x683-2 Fund Distribution services for the Fund Lawyer?
samuel-beckett-bridge Fund Distribution services for the Fund Lawyer?

We work with a number of law firms, to help them serve clients better, and increase revenue.

Why should the Accountants have all the fun?

The fund lawyer’s role has remained very traditional, providing legal services from a fund structure to regulatory and compliance related work. If a fund for example goes through the process of setting up a fund with the fund lawyer, inevitably this fund on being launched is left to its own devices, the relationship with the fund in a way ceases. How can and/or should the fund lawyer advise assist the fund after launch?

Fund lawyers today operate in a both the traditional and digital environs, fund lawyers should show equally that they understand how to operate in these environs, this should be reflected in their marketing, create that all important first impression. Successful fund lawyers require a different set of marketing rules, often the central marketing resource doesn’t understand the terminology (UCITS, ICAV’s, KIID, NAV, ETF etc). That the fund lawyer is understanding of the traditional and digital world, to the traditionalist and the next generation coming through all using smart phones alike.

How does the Fund lawyer decide how better to service their fund clients, or to remain a traditional provider of legal services only. Our research has shown that fund lawyers who remain traditionally legal service providers are competing not only with the accountancy firms, but also with the fund lawyers that have and are expanding their range of services to their clients. Funds today require so much more than legal services, should the fund lawyer remain on the fence, risk being left behind by the accountants and the evolving fund lawyer.

Cue Finscoms, we work with the fund lawyer to either implement effective niche fund marketing to promote the fund lawyer, their practice area, and to work with the fund lawyer often on a white label basis, to identify and implement additional services to their fund clients. We are in the main looking at small to medium sized funds, the larger funds require different advisory services.

What kind of services can the fund lawyer offer without going into unknown territory, or expose the firm to risk?

The design of legal documents such as a KIID, Nav, or Fund prospectus, are traditionally very plain, lack colour, are fairly indigestible, we work with the fund lawyer often on a white label basis, to ensure the fund receives their legal documents that present the fund in the best possible way – all in line with regulatory and compliance. Add to this the design of factsheets, there are immediate gains for the fund lawyer to expand this area of service.

EMDS3 Fund Distribution services for the Fund Lawyer?

The design of legal documents are traditionally very plain.

What are the other areas?

We create with the fund lawyer a ‘fund start pack’, in addition to the legal services that the fund lawyer offers to the fund, now we can add extra services to assist the fund in its marketing and distribution, ultimately to raise capital. Funds today are window shopping, by expanding some of of your traditional service, this is looked favourably by funds, and helps to narrow the choices faced by a fund when instructing fund lawyer.

The services within fund distribution, fund marketing, and fund communications range from design of marketing materials, building websites (which need to be checked from a regulatory & compliance perspective, disclaimers added and so forth), to social media, content marketing, to a fund prospectus video. Some of these areas Fund lawyers are not comfortable with, but are happy to support their fund clients by referring the fund to us.

We service the fund, maintain the relationship the fund has with the fund lawyer.

Why not contact us to explore further the idea of how to service your clients, the potential that exists if you expand or discuss options to move on from offering traditionally legal services to servicing a client in a digital environ, not to mention additional revenue growth and long lasting relationships with your clients.

EDWARD SIMPSON

emds@finscoms.com

A New Year for Law Firms, Marketing same old strategy and investment as last year?

A New Year for Law Firms, Marketing same old strategy and investment as last year?

Marketing, The View

BirdMobile-1 A New Year for Law Firms, Marketing same old strategy and investment as last year?

Law firms are facing stiff competition from their peers, in house counsel (many are increasing their number of legal staff), accountancy firms, the relationship between the law firm and its referrer/client are being questioned, efficient and effective marketing/business development invested by law firms, and accountancy firms have yielded significant increase in revenue as well as evolving practice areas reacting to market trends.

Tortoise500-1 A New Year for Law Firms, Marketing same old strategy and investment as last year?
samuel-beckett-bridge A New Year for Law Firms, Marketing same old strategy and investment as last year?

Video marketing is where the action is.​

And yet many law firms continue to invest in ‘run of the mill’ marketing which yields little or no success, the tangibles are often categorised under the ‘grey area’ of marketing and its non return on investment. Professional Services Marketing is a form of ‘niche’ marketing granted, in my opinion for too long it has remained behind ‘Professional Services Marketing’, being a late adopter of new proven marketing initiatives, it should take the lead.

On your website do you include ‘publications’ ‘news’ ‘brochures’? If so, this an example of ‘run of the mill marketing’, your firm should at the very least in this digital age include ‘blogs’ ‘webinars’ ‘videos’. Don’t get me wrong there are some parts of ‘run of the mill’ marketing that show a return on investment, we work with our clients to ensure they maximise the returns on ‘effective’ and ‘run of the mill’ marketing.

Ask yourself is your marketing, your personal brand, that of your practice area, and that of your firm, proactive or inactive? Do you find yourself or your colleagues printing out brochures at midnight prior to leaving for a conference? Do you send out your practice area/firm newsletter to all contacts? Produce a practice area brochure and post up on your site? Run an event and also post up on your website? Repeat yourself at the introductory stage without charging the billable hour?

There are many many more examples I can add to the above, all of which fall under ‘run of the mill’ marketing. You’re comfortable where you are now, for a law firm to compete, to invest in efficient marketing, means changing the mindset, law firms are often reluctant to change. Why invest in and adopt ‘run of the mill marketing’ adopted by a high number of law firms? How many law firms have a brochurial website, worse still that’s not responsive? That this website describes how ‘wonderful’ the firm is, how ‘big’ the firm is – Finscoms work with law firms to move away from ‘vanity’ marketing to ‘converting’ the recipient/user to contact you for more information.

I would argue that ‘run of the mill marketing’ does little or nought to increase an awareness of the firm, its practice areas, or its fee earners, nor to increase its brand equity. To give you an example, if you send out a newsletter, many clog up the recipient’s inbox, or go directly to spam, with those that do get through the various email filters often are of little or no relevance, leading to negative branding ‘why is this firm sending me this newsletter when it is not my area of interest?’

Effective and efficient investment into marketing and business development is where the the smart law firms are at, they can show that they are comfortable working in a traditional and digital environment, creating that all important first impression.

By becoming your own publisher (why pay to place your expertise?), by adopting ‘effective’ marketing, you will for example drive quantifiable traffic to your site, that those researching your firm can do so on a pc, tablet, phone, build online communities around your practice areas. Webinars are the best tool to enable you to market and communicate to your target audience globally, we work with our clients to adopt and implement a webinar strategy.

Video marketing is where the action is, a video has many purposes from when you are dealing with a referral/client/potential client, monitors in reception/conferences, youtube, Mondaq, videos are used to convert the viewer, drive traffic to your site, but more importantly a video blog is the most effective way to market/communicate period. Whether you are a large firm (Norton Rose Fullbright) or a small firm (GANADO Advocates in Malta) video blogs build online communities, this is one of the best investments you can make, do contact me to explore how video not only ticks all the right boxes, is affordable, but saves you time and can generate new income.

EMDS3 A New Year for Law Firms, Marketing same old strategy and investment as last year?

​​Social media presents the opportunity for you and your firm to build online communities, how you engage with social media, content marketing is often the difference between failure and success.

Linkedin with over 4 million registered users is arguably the largest legal directory, why then is it not supported in the same way as legal directories? There are other examples of content marketing like Mondaq which not only distribute your content onto say Reuters, Lexis Nexis, Dow Jones, but through their website they tell you who has read your article including full contact details/email address.

Be smart with your investment into marketing, show the tangibles, marketing is no longer a poisoned chalice, it is now embedded in all that we do on a daily basis, get it right then its a great place to be….

Contact us today for more information.

EDWARD SIMPSON

emds@finscoms.com

Blockchain and Asset Management

Blockchain and Asset Management

The View

BirdMobile-1 Blockchain and Asset Management

We’re moving from the ‘internet of information’ to an ‘internet of value’. We know that the banking sector is getting behind blockchain technologies but will the asset management sector adopt?

padlock Blockchain and Asset Management
samuel-beckett-bridge Blockchain and Asset Management

There is an immense cost pressure on financial institutions.

A recent Santander publication reports that global banks could save up to $20bn a year by 2022 by implementing blockchain technology. There is an immense cost pressure on financial institutions and therefore inevitability about the pursuit of the encryption technology. We will no doubt see an aggressive application imminently. The World Economic Forum estimates that by 2027, assets equalling 10 percent of global GDP will be kept on a blockchain.

How do asset managers view this sea change?

It would seem that the asset management sector is sitting back and watching from afar despite the obvious benefits. According to the Wealth and Asset Management 2021 report by Roubini ThoughtLab, the widespread introduction of blockchain could push static asset managers out of business.

So why are asset managers not adopting?

There are a number of reasons for this. Asset managers don’t encounter the same weight of pressure on costs as the banks do.  This is due to the ability to pass costs on to customers, predominantly retail customers. Therefore the investment sector is under less pressure to chase prospective savings.

Also, blockchain applications will mainly be utilised in settlements. Many asset managers outsource this service to custodians.

Is ignoring blockchain strategy wise?

It would be a mistake for asset managers not to consider their Blockchain strategy. Committing modest resources to understanding what is happening is much more affordable than immediately making major technology investments with a 1-3 year timeline i.e. the technology may be out of date by the time it is delivered. There should be governance structures in place to ensure timely reviews so as to chose the optimal opportunity to adopt.

KMCWeb Blockchain and Asset Management

“It would be a mistake for asset managers not to consider their Blockchain strategy.”

What is the threat to the sector?

There are threats to the asset management business model. The threat comes from disruptors who may be inspired by the lower costs brought about by blockchain technologies. This may well be a new pasture for fintech entrepreneurs. There is a clear move by P2P firms to utilise blockchain across their distribution platforms to offer an expanded variety of investments.

The asset management sector must get a grasp of this nascent technology and prepare for it’s imminent arrival. Finscoms cares about the future of the sector, talk to us about how to prepare yourself.

KEN CARMODY

kmc@finscoms.com

Amendments to AIF Rulebook

Amendments to AIF Rulebook

The View

BirdMobile-1 Amendments to AIF Rulebook

January 25th 2017
The Central Bank has issued amendments to its AIF Rulebook relating to Loan originating Qualifying Investor Alternative Investment Funds (L-QIAIFs).

CBI500-1 Amendments to AIF Rulebook
samuel-beckett-bridge Amendments to AIF Rulebook

For a copy of the latest AIF Handbook click here.

Before this amendment, L-QIAIFs were prohibited from engaging in activities other than lending and certain related operations. The recently revised AIF Rulebook now states that L-QIAIFs are permitted to deal in investments connected to the loan origination strategy. Including investing in debt and equity securities of entities or groups to which the L-QIAIF lends or which are held for treasury, cash management or hedging purposes.

The amendments to the AIF Rulebook draw parallels with rules at EU level. It ties in with the central aim of the EU’s Capital Markets Union, that being the encouragement of alternative sources of non-bank lending to the EU economy.

KMCWeb Amendments to AIF Rulebook

For a copy of the latest AIF Handbook click here.

KEN CARMODY

kmc@finscoms.com

The Fund Marketing & Distribution Alternative

The Fund Marketing & Distribution Alternative

The View

BirdMobile-1 The Fund Marketing & Distribution Alternative

To do or not to do.
Funds today are faced with ever increasing decisions to make in their route to raising capital.

marketing-support-1 The Fund Marketing & Distribution Alternative
samuel-beckett-bridge The Fund Marketing & Distribution Alternative

A small investment into a marketing and communications strategy will return huge dividends.​

How successful are funds in getting through to their target audience? Do funds invest in and/or adopt best marketing and communication practices? The answer is invariably ‘No’, funds don’t have the time nor experience, the only question they have is ‘how much capital will they raise?’.

Whether you are looking to raise 10 million or 100 million+ it is not possible to simply go into the outside world armed with a fund prospectus – often these prospectuses are over 100 pages long, are black & white and are indigestible – this is a well worn route taken by many other similar type funds.

A small investment into a marketing and communications strategy will return huge dividends, to understand what an investor is looking for and provide this is the KEY to raising capital. With the advent of the digital era, many investors are using search engines to find the next fund to invest in, too often they visit a website with no information i.e. fund performance to convert the investor to make contact.

Clearly a brand, a proactive website, and being seen and improve on search engine rankings deliver instant returns. Would you prefer to have inbound enquiries from investors as opposed to little or no momentum from say high retainers paid to third party marketing agencies? With a heaviliy congested route to the investor, ever wondered where are the investors and how to get your message in front of them to create an awareness of your fund all for a low investment?

Don’t get me wrong there are limited tangibles from traditional and digital initiatives, by changing the mindset in your route to raising capital, by understanding the needs of your target audience, be they 10 or 100+ will pay instant returns.

EMDS3 The Fund Marketing & Distribution Alternative

Here at Finscoms we understand the digital and traditional platforms used to catch the eye, but and there is always a but, we through digitalization, marketing and communications strategy get you moticed by your target audience with instant results, all for a low investment.

A website is no longer an online brochure for your fund, it does and delivers on so much more. Get it right and you are on your way to raising capital in a digital environ, get it wrong and you are just one of hundreds of thousands of websites doing similar. Content and video marketing are key, but must all be in line with regulatory & compliance.

Imagine a video prospectus…

Imagine projecting your charisma through video…

Imagine making a flawless first impression…

Contact us, tell us your pain points in raising capital and you’ll find you not the only ones dealing with poor results, high costs, low penetration/conversion. Time to be efficient with your marketing and communications with instant tangibles, this is our bread and butter, what have you got to lose?

EDWARD SIMPSON

emds@finscoms.com