The 2013 survey measured mutual fund company opinions on their current Financial Intermediary (FI) practices, how they interact with their FIs, and what tools they use or need to manage their overall compliance and operational obligations. This year's results show that as omnibus processing and the reliance on FIs continue to increase, fund companies are facing ongoing challenges in overseeing their FI relationships.
Nearly all (96%) of the survey's respondents anticipate that their obligation to manage FI relationships will increase over the next three years, primarily due to
"It's clear that achieving transparency is critical to an effective Financial Intermediary oversight and risk management program," said
The 2013 survey also reported that just slightly more than 10% of respondents were 'Highly Satisfied' with their current internal oversight programs, indicating a desire by fund companies to enhance their existing programs.
As the largest provider of transfer agency services in the U.S., Boston Financial is uniquely positioned to gain input from fund companies on their needs and compile their views on the business landscape. The firm uses its annual survey results to develop timely and relevant solutions that assist mutual fund providers with a wide range of Financial Intermediary oversight needs.
In response to current business needs, Boston Financial recently introduced FIATM Solutions to provide fund companies intermediary data and relationship information, to improve intermediary payment administration, and to simplify inspection and monitoring obligations.
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