September 30, 2013, Chicago – Great Lakes Fund Solutions, Inc. is launching eSuperior, its integrated web-based administration system, during the 2013 REISA Annual Conference and Trade Show held from October 6th through October 8th in Las Vegas.
Each user of eSuperior will have access to input screens, reports and documents in keeping with the party’s role, namely: investor, financial advisor, wholesaler, broker/dealer, custodian and fund sponsor. This tiered access gives full transparency to each of the parties that own, sell and service alternative investment sold through registered investment advisor (RIA) and independent broker/dealer channels.
“eSuperior is designed to empower fund sponsors of direct participation programs that currently have few vendor options to support their back office using web-based software,” says Mark Lancaster, President of Great Lakes Fund Solutions, Inc. “With the introduction of this application the industry has an opportunity to reduce fund administration costs and lower the risk associated with spreadsheets and other ill-suited technology.”
The eSuperior software is offered on a stand-alone, hosted basis for fund sponsors that wish to perform their own investor servicing. Great Lakes Fund Solutions will continue to offer full back-office outsourcing and transfer agency using the eSuperior platform combined with sales material fulfillment, compliance support, investor services staffing and a call center management.
Great Lakes Fund Solutions, Inc. has provided IT, fund administration, transfer agency and other clerical services to public and private alternative investment funds since 1982. The company was visionary in its use of the worldwide web, launching its first web-based user interface in 1999. The company’s offices are in the Chicago area and our web site is http://www.GLFSI.com.
REISA is a national trade association with 1,200 alternative investment professionals. Members are traditionally active with non-traded REITs, real estate partnerships, real estate income and development funds, tenant-in-common interests, oil and gas interests, and other securitized real estate investments. REISA works to maintain the integrity and reputation of the industry by promoting the highest ethical standards to its members and providing education, networking opportunities and resources.
Direct Participation Programs are alternative investments structured as public or private limited partnerships and sold through registered investment advisors and independent broker dealers, usually on a commission basis. The most actively sold DPPs are non-traded REITS, business development companies, oil and gas limited partnerships, commodity pools and equipment leasing partnerships. Industry organizations such as REISA and the Investment Program Association (ipa.com) are expanding their membership to other types alternative investment funds that look to utilize mass affluent distribution channels and wish to collaborate on legal, compliance and other business issues.