2027 Fund Administrator Buyer's Guide

Most fund administrators were built to do your fund accounting, investor onboarding, and reporting by hand, on software licensed from someone else. AI agents can now handle much of that day-to-day work, which changes what you should expect from an administrator, and what you should ask.

Every provider now says it uses AI. This guide sets out the criteria where providers differ most, the questions that test each one, and a scorecard to compare your shortlist on their written answers and their demo.

It is for CFOs and COOs choosing a fund administrator, or reviewing the one they have.

What's inside

• Why the choice has changed. What AI agents now handle in fund administration, why the traditional model fills gaps with people, and why you answer for the administrator you choose.
• What AI-native fund administration means. One record, agents that act on it, and specialists who review the work, compared with a traditional administrator.
• Start with your service model. Full outsource, co-source, or in-house on software, and how to decide before you compare providers.
• Eight criteria that separate providers. What good looks like for each, and two questions to ask every provider, Caruso included.
• A scorecard for your shortlist. Weight each criterion, score every provider on its written answers and demo, and know the red flags.
• Four providers, side by side. How two software-led administrators and two established administrators describe their own offer.

Ask every provider the same questions, Caruso included.

Prefer to talk first? Email [email protected] or book a demo.