FUND DISTRIBUTION SERVICES FOR THE FUND LAWYER?
WHY SHOULD THE PROGRESSIVE LAW FIRM AND OTHERS HAVE ALL THE FUN?
The role of a fund lawyer is quite traditional, providing legal services from fund structure to regulatory and compliance related work. However, after the fund is launched, the relationship with the fund often ceases, leaving it to its own devices. This raises the question of how a fund lawyer should advise and assist the fund after it has been launched.
Fund lawyers need to operate in both traditional and digital environments. They must show that they understand how to operate in these environments, and this should be reflected in their marketing efforts. Successful fund lawyers require a different set of marketing rules, often a law firm’s marketing department don’t fully grasp the terminology (UCITS, ICAV’s, KIID, NAV, ETF, etc.) to cater to both the traditionalist and the next generation of clients.
It’s essential for fund lawyers to decide how to better serve their fund clients and whether to remain a traditional provider of legal services only. Our research has shown that fund lawyers who remain traditionally legal service providers compete not only with the accountancy firms but also with the fund lawyers who have expanded their range of services to their clients. Funds today require much more than just legal services, so fund lawyers should identify and implement additional services to remain competitive and avoid being left behind by accountants and evolving fund lawyers.
At Simpson Capital, we work with fund lawyers to implement effective niche fund marketing to promote the fund lawyer and their practice area. We also work with them on to identify and implement additional services for their fund clients or they choose to refer this part of a fund’s cycyle to us thus servicing their clients better in a traditional and digital way. Our focus is primarily on small to medium-sized funds, as 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, and are fairly indigestible, we work with the fund lawyer, 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. Often a fund lawyer will refer this work to a KIID factory, we explore the possibility of keeping this referral in-house.
WHAT ARE THE OTHER AREAS?
Looking to expand your services as a fund lawyer? We offer unique and tailored solutions to help you support your fund clients in the digital and traditional age. From designing marketing materials to building regulatory-compliant websites, implementing social media strategies, and creating engaging content, our team can assist you in offering comprehensive fund distribution, marketing, and communication services. By partnering with us, you’ll enhance your client relationships and unlock potential revenue growth. Contact us today to explore the possibilities of expanding beyond traditional legal services and embracing the digital environment.
SIMILAR VIEW
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