Modernizing fund accounting to elevate client service
Introduction
Trailmark (formerly Gryphon Fund Group) is a full-service fund administrator and transfer agent providing fund accounting, administration, transfer agency, tax, compliance and regulatory reporting services to investment managers and fund boards. Trailmark produced and reported its first NAVs in FundGuard to NASDAQ on March 11, 2024.
The catalyst
Trailmark saw an industry dominated by legacy systems that made it hard to deliver the level of service they value. Their team wanted technology that reduced manual intervention, supported automation and allowed more time for client guidance and problem solving rather than repetitive daily processing.
Platforms built for large, slow-moving administrators didn’t align with Trailmark’s approach. The team needed something cloud-based, open and extensible so they could continue to innovate without endless custom development cycles.
“We want our people focused on the work that matters: validating and supporting clients, not typing in data.” -Rob Silva, Trailmark
Why FundGuard
Trailmark had evaluated FundGuard previously and returned to it when it became clear the platform they were using couldn’t support their growth. After onsite working sessions in September 2023, Trailmark committed to FundGuard.
Two factors stood out:
- Open, cloud-native architecture
Allowed Trailmark to automate workflows, reduce manual steps and move faster without adding layers of operational overhead. - Strategic validation
FundGuard’s backing by leading asset servicers helped Trailmark communicate the decision to boards and clients with confidence.“We saw an opportunity to actually be nimble and to use technology to deliver a more consultative, hands-on service to our clients. The legacy providers couldn’t do that.” -Gordy Jones, Trailmark
What changed
End of Day report packs in minutes
On their previous platform, generating nightly report packages required the support of an outside consultant and weeks of manual work to create a repeatable process. On go-live night in FundGuard, the Trailmark team built customized nightly report packs themselves in about seven minutes.
Earlier end-of-day close
Daily operations that previously ran past 7:00–7:30 pm now finish around 5:30 pm.
More time for client work, not processing
Automation of cap stock, expenses, trades, and corporate actions means accountants focus on validation and review instead of typing and rekeying data.
Scalability without diluting service
Trailmark can onboard and support additional funds without needing to add headcount or take time away from “smart work.”
Workflow-driven oversight
FundGuard’s workflow logic surfaces issues earlier, including setup variances that traditional exception-based systems might miss until much later.
"Our AUM and the number of funds we support have grown significantly, and the automation we’ve built with FundGuard has given us the operational capacity to absorb that growth without strain.” -Rob Silva, Trailmark
Day in the life now
- Morning reconciliations are automated where connectivity is present.
- Cap stock, expenses, and corporate actions feed straight through for validation rather than manual input.
- Midday is no longer consumed by processing, which opens space for:
- client conversations
- onboarding support
- audit and regulatory work
- ad hoc reporting
- Pricing and NAV review rely on workflows and tolerances rather than building checks offline.
- Nightly report packs are automatically generated and delivered.
One real example: when a client requested five years of returns on a non-standard date for an RFP due the same day, the team handled it during the workday - no late-night activity required.
Governance and board confidence
Trailmark followed standard governance practice, providing its SOC 1 report and incorporating FundGuard’s own SOC 2 materials into its vendor oversight review. Their Board was briefed regularly throughout the transition period, which ensured clarity, transparency and comfort with the change.
Culture that makes the tech matter
Trailmark empowers its people to surface ideas, propose enhancements and maintain an ongoing feedback loop with FundGuard’s product team. Weekly working sessions continue to expand automation across pricing, corporate actions and other workflows.
“The people doing the work are the same people making decisions about how to improve it. That’s where the real change comes from.” -Gordy Jones, Trailmark
Trailmark set out to deliver fund administration with real client engagement and operational clarity. FundGuard provides the engine to support that model by automating the work that should be automated, strengthening oversight and giving Trailmark’s team the space to focus on what actually matters to their clients. The partnership continues to evolve through ongoing collaboration, shared problem-solving and a common vision for how fund accounting should operate.
See what a more scalable fund accounting operating model could look like for your business.
Talk with FundGuard about how an AI-native, cloud-native investment operations and accounting platform can help your team automate processing, strengthen oversight and create more capacity for higher-value client work.
