How Advisors Are Preparing for New Private Funds Reporting Rules

Getting approval from their compliance department is already one of the top challenges facing RIAs investing in illiquid alternatives, second only to lack of liquidity, according to a recent survey by market research firm FUSE Research Network. “Unless an RIA is working through a platform that screens the alts manager and will verify/monitor that the investment manager has the systems and operations and vendors in place to implement and track their investment management process as promised … I am not sure how they could get comfortable with firms outside the top most well-known brands,” according to Neil Bathon, managing partner of FUSE.

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Article published on April 19, 2024