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U.S. Bank’s ETF success highlights strong client relationships


U.S. Bank Global Fund Services | Best ETF Custodian | Best Overall ETF Administrator | Best ETF Administrator – Equity ETFs | Best ETF Administrator – Fixed Income ETFs

“Growing our ETF business over the past decade … it’s been a lot of work, but I think the results speak for themselves,” says Kristina Nelson, vice president of fund administration at U.S. Bank Global Fund Services.

In 2012, the firm was servicing 50 ETFs. Now, that number has grown to 500. The dramatic increase comes on the back of a great deal of breaking down barriers for new issuers through education, offering an easier point of entry, and providing the latest technology solutions.

“Our commitment to clients is really at the core of everything we do,” Nelson adds. “During conversations with clients, they said they needed more robust ETF support, and we responded.”

“We launched our registered business in 1969 and since then, we’ve helped many of our existing mutual fund clients enter the ETF space with new products or by converting mutual funds into ETFs. Our growth servicing new entrants, and conversions, has helped us gained recognition as one of the ETF industry’s leading service providers.”

U.S. Bank has eight multiple series trusts, which offer a team of employees experienced in governance, compliance and regulatory needs. This structure enables small and large advisors to enter the ETF space with the support of knowledgeable professionals. In essence, we provide these services for the client so they don’t have to create them in-house.

“We’ve assembled the boards, legal counsel, and audit firms with the right mix of experience, and we add in our servicing and support from product development to operational readiness and a platform for growth. And it all helps bring products to market faster, more reliably and more cost effectively than an advisor going at it alone. We allow them to come into an established series trust with those components built for them and benefit from all the associated cost and time savings.”

Nelson says the multiple series trust solution works especially well for clients who want to convert their mutual funds. “It’s a good cost saving opportunity for us to leverage our experience to help advisors looking to convert existing mutual funds.”

One of the biggest ongoing trends in the ETF industry has been the conversion of mutual funds to ETFs.

“This is a sweet spot for U.S. Bank. We’ve helped five advisors complete successful conversions, with more on the way,” Nelson says. “We do see this as a growing part of our business. The entire industry is shifting – launching ETFs or converting mutual funds, and we’re ready to help advisors figure out the right move for their firm.”

Internally, U.S. Bank has evolved the ETF business to reflect the scale of its overall fund business. This means clients benefit from having the servicing team they already know support them through converting a product to an ETF and then through the life of the ETF.

Nelson believes relationships are what sets U.S. Bank apart. “We know that no two advisors are the same, so we pick up the phone and make a point to learn what an advisor wants to achieve rather than just presenting a solution that worked for someone else.”

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