The administration system and web portal solution for alternative investment funds
The administration system and web portal solution for alternative investment funds
STAR-XMS (Syndication Tracking and Reporting with Expanded Marketing and Sales Capabilities) is our proprietary investor recordkeeping system for outsourced fund administration services. The system is also available under license to self-administered funds to reduce their costs and maximize back-office efficiency.
STAR-XMS centralizes all back office data, documents and functions, minimizes errors, speeds the execution of distributions, commissions, capital calls and payments, and initiates in-house printing of checks, statements and tax documents. Live connections with participants throughout the industry maximize the visibility of your investment product. Robust reporting empowers your sales and marketing teams helping to drive new business.
All back-office functions centralized in one system
- New investment entry & compliance
- Capital call calculation & notice production
- Shareholder account maintenance
- New investment sales commissions & carry calculations
- Shareholder transfers
- Redemptions (both partial & full redemptions)
- Distribution calculation & payments
- Check & statement production
- Tax document production
- Investment fund-branded web portal for investors & financial advisors
Onboarding & Connectivity
- Subscription Document Processing
- Straight-Through Processing
- API Connectivity
- AIP Platform
Ameriprise, Pershing, NFS, LPL
DTCC AIP Platform
DST FAN Mail
Broker-dealer back offices
RIA back offices
Features that ensure accuracy and reduce risk
- Role-based permissions & access
- AML, KYC, OFAC & Blue Sky compliance
- Payment system integration
- Fund accounting integration
- Data security, redundancy & disaster recovery
- Consultative operational support
- Customizable to the needs of your fund
- Documents embedded in the system
Sales & Transaction Reporting
Insight to empower sales teams
- Reporting on sales, transaction, history & profile data
- Searchable, sortable & trackable information
- Hundreds of standard reports
- Ad hoc reporting
- Automated reports
- Scheduled report delivery via email or mobile device
- PDF, HTML, Excel, Word or CSV Output
- Exports files uploadable to SalesForce® & other CRMs
Take your back office to the next level with STAR-XMS
Institutional-class, back-office infrastructure
Frees up internal resources to focus on more strategic initiatives
Minimizes operational risk
Facilitate seamless communication with investors
Satisfies institutional & ultra high-net-worth due diligence requirements
Simplifies annual fund audits
Equips sales teams with better access to data
Integrates with printing & mailing of checks & statements
Self-Administered Fund Technology
Administration system for your in-house team
- Web-based for enhanced usability
Controls minimize errors
Fast, accurate & simplified processing
Proofing & approval stages
- Training & Support
Operational backup available
Investor & Advisor Web Portal
Your customized web portal delivers fast, versatile, interactive access to STAR-XMS data. Users have dynamic web-enabled access to the information they need with a secure interface. Sponsors access the full universe of their investor information and easily communicate updates and marketing.
Investors access a full view across all their funds including positions, account values and transaction updates. Investors can change profiles and preferences, access forms, mailings, tax documents and account statements, or submit questions and requests. Advisors review their clients’ positions across all their funds, as well as receive updates and messages.
Sponsors enjoy efficient communication with investors and their advisors. Investors and advisors have independent access to the specific information they need.
Position, Balance & Transaction Data
Profile & Preference Changes
Proxies, Notifications & Updates
- Cost-Effective 24/7 Communication
Investors can access a global view of their account information across all funds, ask questions, submit profile changes, make account requests and participate in proxy voting.
Account Values & Transaction History
Profile & Preference Changes
Questions & Requests
Forms, Mailings & Documentation.
Tax Forms (1099s & K-1s)
Advisors access client investor information across all their clients’ positions and view balances, statuses and transaction history.
View Client Positions Across All Funds
Drill Down to Investment Level
View Accounts As Investor
Access Statements & Tax Documents
Retrieve Fund-Specific Forms
Receive Quarterly Updates
Download List of Client Investors
Learn why industry leaders trust us for their back office
Let’s discuss how Phoenix can elevate your investor experience
Frequently Asked Questions
I already have people who can perform these functions. How can Phoenix American be more cost effective?
Accounting and investment administration has been our primary line of business for 20 years. We have the talent, technology and economies of scale to maximize efficiency and affordability. With Phoenix American’s menu of offerings you can choose the level of service that suits your needs. Whether you choose our full-service or our application-only solution, you can use Phoenix’s skilled personnel and technological infrastructure to compliment your own capabilities to more efficiently address your accounting and investment administration needs. Either way, you save time and money.
How much will it cost with Phoenix American?
Your contract will be tailored to the individual needs of your business. There will be a one-time implementation fee and a monthly fee thereafter. You will find the value and ease of working with Phoenix American far superior to the expense and difficulty of purchasing the equipment and maintaining the staff to perform these functions in-house.
How will I access my business information?
Phoenix American offers multiple VPN (Virtual Private Network) and dial-up solutions for full access to your data in any application. We maintain strict controls regarding access to all applications, networks, servers, and databases. Only authorized Phoenix American staff and your designated employees will have direct access to your data. The STAR-XMS system also has security settings that allow your personnel to access only the data they need.
How is my account handled by Phoenix American?
A dedicated account manager will be assigned as your point of contact. Your account manager will respond to any questions you may have, investigate concerns, oversee account activity and coordinate any adjustments that might be needed. A knowledgeable backup account manager will also be assigned to your team to ensure that answers and service will always be available.
Investment Administration Services
Won't our investors or shareholders become concerned if a new service provider is appointed?
No. Your company will retain full management control at all times. Phoenix American is engaged solely as your administrative provider. We can act transparently as a single source provider of any range of investor or accounting services. We provide you the flexibility to outsource any aspect of your investment administration, leaving you in complete control.
How can you save me money?
Phoenix American eliminates the overhead of specialized, full-time in-house administration. Our unique regimen of checks and balances will eliminate problems and accelerate your workflow. Phoenix American investor administration services will design a customized solution. The STAR-XMS system is fully supported by Phoenix American and is located in our in-house data center. You benefit from our personnel and technology infrastructure through Phoenix American’s economies of scale. Our trained and experienced staff, committed to delivering high quality service and support, provides you with superior investor services at economical prices.
Will I need special hardware or software?
No. The STAR-XMS system is a web-based system and no special hardware or software is required
What about the confidentiality of my investors or shareholders?
Confidentiality is assured with comprehensive system security that you control. All employees of Phoenix American Financial Services who access client data undergo thorough background checks and our average employee tenure is over ten years. We also have systems in place that meet or exceed requirements set by the SEC including a SOC 1, Type II audit.
How and when will I receive my financial information?
Phoenix American will work with you to establish the period-end dates and closing time frames you prefer and plan for the associated reporting requirements. Statutory statements are completed by their respective due dates. Financial statements can either be mailed or sent electronically. You will also have access to historical records through your Web Portal.
What kinds of reports will Phoenix American provide?
As part of our standard accounting solution, Phoenix American will generate industry specific transactional and period-end reports as well as internal managerial financial reports. With our Premium Services offering, Phoenix American will create full financial statements for all types of external reporting, including SEC filings via EDGAR.
How will Phoenix American provide invoice payments to my vendors?
Phoenix American will receive and process pre-approved vendor invoices, then issue checks as needed. All vendor payments will be required to have a final approval by you before a payment is released.
Can Phoenix American send payments electronically?
Yes. Phoenix American not only offers, but encourages the use of Electronic Funds Transfers (EFT) through our banking services. All EFT transactions, excluding direct wires, are sent through the Automated Clearing House (ACH) governed by the Federal Reserve System’s Regulations and the National Automated Clearing House Association (NACHA).
How do I process an emergency payment?
Two methods are available. Manual checks may be issued out of your office or payments may be issued by Phoenix American. There are costs associated with receiving, processing, approving and disbursing a rush payment. The volume and frequency of these types of disbursements usually determine which method will work best for you.
How will Phoenix American process cash receipts?
The preferred method is a lockbox for checks and electronic receipts. However, whatever alternative you prefer, Phoenix American will work with you to meet your needs. All daily receipts will be processed within the prescribed time frames.
Can Phoenix American receive invoice payments electronically?
Yes. Depending on the bank account set up, Phoenix American can receive and process electronic transfer information into our accounting software.
What services are included in banking services?
Phoenix American will handle any and all banking issues relating to the transfer of funds on your behalf for accounts payable and accounts receivable processing. We have experience working with all types of financial institutions including local banks, national banks and money market investment funds.
Will Phoenix American have access to my bank account?
Depending on the arrangement you prefer, Phoenix American may have limited, pre-approved, authorized access to your account for electronic transfers and/or authorization to speak with the bank on your behalf as needed for treasury services.
How does Phoenix American handle electronic fund transfers?
All EFT transactions, excluding direct wires, are sent through the Automated Clearing House (ACH) governed by the Federal Reserve System’s Regulations and the National Automated Clearing House Association (NACHA). Direct wires are sent directly to or from your bank account for secure transmissions.
SEC Compliance & Audit Support
Can Phoenix American file reports with the SEC via EDGAR?
Yes. The professionals at Phoenix American are trained in all aspects of EDGAR conversion and filing. Those individuals attend regular seminars to stay up to date on the latest SEC requirements.
How are the footnotes and the management discussion and analysis produced?
Phoenix American starts with the core financial information and works with your financial, legal, and management personnel to gather the information that cannot be derived from accounting transactions.
What level of audit support does Phoenix American provide?
As part of our Premium Services offering, the Phoenix American service team is available to answer any audit questions on transactions we have processed. We also prepare workpaper files to support the quarterly and year-end transactions. The audit can take place in our office or at a location of your choice through phone and electronic communication.
Tax Compliance Services
Will I receive tax returns before they are filed?
Yes. The tax department will send returns and backup to you for review and approval. If a tax payment is required, the information provided will allow you to create the payment request.
Will Phoenix American sign my tax returns as preparer?
Phoenix American signs sales, use, property and miscellaneous annual tax returns as the paid preparer. The benefit of this external review process is to provide you with added assurance of a complete and accurate return. Phoenix American requires income tax returns be reviewed and signed by your CPA.
My company is doing business in all 50 states. Can Phoenix American handle this activity?
Yes. Phoenix American files sales, property, and income tax returns in all 50 states and numerous local jurisdictions. Utilizing our internet and tax software, Phoenix American’s tax professionals have access to all tax laws and forms. Through our years of experience, Phoenix American has developed a network of contacts in numerous jurisdictions and can call upon them as needed. We also file taxes for our international clients.
What if I am contacted for an audit?
Inform your Tax Representative at Phoenix American. He or she will explain the audit process and review the tax returns filed in the audit period. Phoenix American will gather copies of tax returns filed and any workpapers supporting those returns and provide them to you. Audit support can handle the audit from our office. Phoenix American has extensive experience representing clients in sales, use, property and income tax audits at the federal, state and local levels. Phoenix American benefits from the many contacts in various taxing jurisdictions we have made through our years of experience.
Are there software and hardware upgrades?
Yes. Regular software and hardware upgrades are built into our long term plan and will be routinely added to our infrastructure so you are assured of keeping up with the most current technological developments.
What about security firewalls, business resumption plans and downtime?
Our infrastructure is built with redundancy across all critical network points with the security of a PIX firewall. Our Cisco partnership and Sun servers allow us to deliver a Virtual Private Network (VPN) solution with 24/7 access and monitoring. Regular maintenance occurs during scheduled maintenance windows announced well in advance and timed for the greatest convenience to our clients.