ALPS, a DST Company

“ Gcellent is an area where ALPS consistently performs well, with even the 2017 decrease in the score for relationship management and client service proving no more than a blip. It has rebounded strongly this year, with one respondent singling out their ALPS contacts for their“ responsiveness.” A second adds that the relationship management has“ done an excellent job of providing support and responding to our needs.” Feedback of this kind matters to ALPs. With all but a tiny fraction of the clients serviced by the firm, managing no more than $ 5 billion, the human touch is at least as important as the level of automation. It is an approach that wins as well as retains business. One respondent appreciates a“ willingness to spend time educating new clients on entering the mutual fund business.” Another says that staff are“ very pro-active. We are a very small shop and ALPS makes us feel like an important client.” While enthusiasm for the friendliness, responsiveness and understanding of ALPS’ client contacts is near-universal, at least one respondent has noticed that these qualities do not always result in a rapid turnaround of queries. While acknowledging that ALPS staff are“ friendly and helpful,” and that the firm has“ good depth of coverage on most issues,” he finds that it“ can sometimes be hard to reach and / or get a quick response.” Yet no one could accuse ALPS of failing to keep abreast of a changing marketplace and regulatory environment. The Securities and Exchange Commission( SEC) launched its liquidity-risk-management-and-fund-reporiting modernisation initiative in October 2016, with the aim of enhancing investor protection. Since then, ALPS has used the opportunity to invest time and money in developing new procedures and services to help asset managers comply by a string of deadlines set by the regulator, which stretch out to 1 March 2020. The firm earns its reward in robust scores for compliance in general, and a handsome one for responsiveness to regulatory changes in particular. Even value, inevitably under pressure as compliance services translate into new and rising fees for clients, has recovered from the sharp fall of last year. In fact, there are only two service areas where ALPS secures returns that are less than excellent, and all fields that saw scores dip last year have recovered in 2018, with two exceptions. One is transfer agency.“ TA may be overworked or under trained,” writes one respondent. But there is nothing negative in client perceptions of the capabilities of the firm in the adjacent field of distribution support.“ ALPS does a great job at reviewing intermediary agreements and explaining distribution-related topics to clients,” writes a respondent. Reporting is the other service area that failed to rise. And if ALPS has an area in discernible need of investment it lies here. One respondent avers that a“ more-enhanced direct shareholder portal” is needed. ALPS needs no encouragement to invest in technology. As befits an administration business owned by a technology vendor( reinforced by the SS & C acquisition of DST this spring), it expects to increase its levels of automation through robotics. By lowering costs, automation will certainly help ALPS and its clients cope with the mounting downward pressure on fees in the asset management industry. And if those gains can be purchased without imperilling a strong reputation for being client focused, the firm will own an unbeatable combination of efficiency and service.“ ALPS is very transparent and honest in all dealings,” concludes one respondent.“ Staff has a high degree of integrity and responsiveness. Their infrastructure is strong and cross communications are good.”