Top 10 Most Requested 'Must Haves' for a Hedge Fund CRM (Customer Relationship Management)

We've compiled a list of the most requested features, functions, and services that our customers and prospects in the investment management industry say you will need in order to successfully implement a hedge fund crm software program at your firm. These should be non-negotiable in your evaluation of a hedge fund CRM vendor.

10 - Hedge fund investor portal

Your hedge fund software should have a website for investors to login & perform basic self-service queries such as submitting questions to your investor relations or public relations teams & provide online statements in a common format with integrated security to protect their privacy and your valuable investment level details.

9 - Integration with any third party fund administrator

Whether you are using SS&C or another vendor to do your fund administration, your hedge fund software should; a) integrate seamlessly, b) require little to no intelligence & effort on a daily basis, and c) be able to handle multiple administrators and change them at your leisure.

8 - Communication & literature fulfillment

Hedge fund CRM software should include an out of the box (not a la carte) engine for communication via email, web, fax, and print. This literature fulfillment engine should provide automated tools for producing all your documents, upload these documents to a secure investor portal, and link them historically for easy retrieval and disaster recovery.

7 - Smart phone access

Unless you plan on competing in 1985, your hedge fund software needs the ability to access your critical, real-time information via smart-phone networks and mobile-devices connected to the Internet. You should be able to search through the last few notes related to your important investors and products anywhere, anytime you are in your devices coverage area.

6 - Centralize database

This is a common theme in CRM, but is a critical need for hedge fund software solutions due to the increased demand for disaster recovery & compliance in our line of business. As well as all of your firms data related to investors and investments, a true hedge fund crm program will capture all the documents you produce and offer an automated backup plan to a single file for safety and security.

5 - Hosted or onsite

Many vendors will offer a hedge fund software program OR a hosted service provision where you connect to their network to access the hedge fund software. Your vendor should offer both, and be able to meet you in either direction you are comfortable with now and want to go in the future.

4 - Named account status

Your vendor support personnel should be on a first name basis with you, they should visit your office at least once a year at no charge, and they should have direct influence over the features that go into the hedge fund software's development cycle. You should have their mobile phone number, their email address, and have multiple ways to log a trouble ticket. If your hedge fund solution is not supported by direct, named, and dedicated vendor personnel - who is really supporting you?

3 - Prospecting & pipeline management

A true hedge fund CRM solution encompasses a 360 degree view of an investor, from first contact to first investment. Having a built-in ability to do prospecting, forecasting, and pipeline management is critical. The solution should also have a flexible framework for you to mold around your sales process and not the other way around.

2 - Localization

Your hedge fund software is not the same as your competition. Your hedge fund software vendor should be compatible and supportive of any localization effort you undertake. Their software upgrades should be free of charge. You should demand a personalized solution to your business, and demand that it be supported in writing.

1 - Search

A common breakdown of CRM solutions happens when one of your employees needs to recall information, but does not have an easy-to-use, accessible, and affordable way to search through all investment, document, and calendar activity including all emails. A true hedge fund CRM solution will include a powerful search engine as part of the package.