Fund administration frustrations: Common reasons why managers switch their fund service provider

Changing a fund administration company often comes at the end of a long period of mounting frustrations, such as missed deadlines, repeated errors, and a general sense that their investors aren't getting the level of service they expect.

In a recent conversation, Charlotte Cruickshank, Global Head of Fund Onboarding and Solutions; Richard Hansford, Head of European Business Development for Fund Services; and Yegor Lanovenko, Global Co-Head of Fund Services, explored why clients decide to make the switch, the barriers that sometimes delay that decision, and how leading providers can make transitions smoother and more successful.

Together, they unpacked the realities behind fund migration and what it takes to restore confidence in fund administration services.

Why managers decide it’s time to switch

Fund managers generally switch administrators because something significant has gone wrong. A loss of trust is often the core issue, fueled by operational struggles, ongoing errors, or missing critical deadlines. When the existing administrator consistently fails to deliver, and investors start to notice, change becomes an urgency.

There’s usually a combination of "push" and "pull" factors at play. Push factors include dissatisfaction with current service levels, unresolved errors, and rising investor complaints. Pull factors are the attraction to a provider who can offer better processes, stronger technology, and a reliable track record. However, reaching the point of switching is often a sign that the current relationship is fundamentally broken, and the client is ready to take on the work involved in moving.

Challenges that delay switching

Despite clear frustrations, many managers hesitate to switch providers because of the complexity involved. Operational, technological, data, and regulatory challenges can make the idea of change feel overwhelming, especially when the fund structure or jurisdiction adds further layers of difficulty.

The sheer amount of work required during a transition can deter even the most dissatisfied clients. Fund managers often face the challenge of maintaining day-to-day operations while simultaneously overseeing a migration process. Ensuring the outgoing administrator continues delivering services while transferring critical data can feel like you’re trying to keep up appearances without a solid solution.

That's why having a dedicated, experienced project management team is so important. A well-planned migration process focuses on requesting only what’s necessary at each stage, minimising disruption, and creating sprints that prioritise building the new system as efficiently as possible.

Providers who specialise in reducing friction and mitigating risk during transitions, while still ensuring quality and accuracy, make a major difference in how successful and stress-free the migration can be.

The danger of tolerating mediocrity

One surprising theme that emerged from the conversation is how long some managers tolerate poor service before making the switch. Many even endure years of subpar performance, missed deliverables, and unhappy investors before they finally take action. Part of the delay often comes from the belief that "things are better the devil you know," but this can be a dangerous mindset, especially as investor patience wears thin.

Investor dissatisfaction is often the final tipping point. When investors start raising concerns, especially publicly or during key fundraising efforts, managers are forced to act quickly. Ongoing issues like repeated reporting errors, delays in statements, or poor communication from the administrator reflect badly not just on the provider, but on the fund manager as well.

The core principle should be simple: a fund administrator’s role is to deliver on promises, on time, and get it right the first time. Clients might accept occasional mistakes, but when errors become systemic or are not properly addressed, it signals deeper issues within the administrator's control environment and operational standards.

Transparency and technology

Switching administrators doesn’t stop problems, but you will find a partner who can do better for your business. Transparency and the ability to showcase a superior operating model play a huge role in winning client trust.

By walking potential clients through their technology stack, operational processes, and workflow management, administrators can demonstrate how they will handle specific fund mandates. Showing detailed migration plans, customised reporting solutions, and efficient control environments reassures managers that the hard work of switching will pay off.

Real-world examples make a difference, too. In one recent pitch, the Ocorian team was able to take a prospective client’s workflow spreadsheet, build it into their system, and demonstrate live how it would operate. Seeing a tailored, functional system in action was a lightbulb moment for the client and made it clear how much easier and more reliable their future operations could be.

Quick wins are often a major focus at the start of a migration. By addressing the most immediate pain points first, administrators can build momentum and confidence, setting the stage for broader operational improvements over time.

Building stronger fund administration partnerships

Switching fund administrators can feel daunting, but the risks of staying with a poor-performing provider are often much greater. As investor demands grow, regulatory scrutiny increases, and operational complexity deepens, fund managers can’t afford to settle for mediocrity.

The keys to a successful transition include strong project management, transparent communication, reliable technology, and an unwavering commitment to service quality. With the right partner leading the process, fund managers can move from frustration to confidence and create a better experience for themselves and their investors alike.

How can Ocorian help?


Whether you're preparing for a full fund admin migration or dealing with legacy data challenges, our experienced team streamlines the process from day one, unlocking better reporting, improved investor transparency, and long-term operational efficiency.


We support everything from launch-stage funds to global institutions. Speak to our team to explore how we can support your next phase of growth.