Company: Sovereign Financial Group

The Bottlenecks of Sourcing and Subscribing to Multiple Funds

For Sovereign Financial Group, alternatives were a big part of the long-term plan, but the operational burden of sourcing, allocating to, and overseeing multiple private market funds created meaningful frictions.

Chuck Failla explains that the firm built its own diversified fund of funds, blending private equity, private real estate, and sub-strategies. But executing these allocations manually would have required substantial time and personnel. “We launched our own fund of funds, and then, of course, when you do this, you’ve got to source that fund of funds,” he says. Without a platform partner, “it would have been … certainly a lot more difficult.”

Sovereign’s model added more complexity: the firm needed to allocate across 14-15 funds on day one, manage rebalance activity, and support 20 advisors serving 3,300 households.

A Technology-Driven Approach to Multi-Fund Execution

Sovereign turned to the CAIS platform to streamline the operational backbone of its alternatives program and make multi-fund execution more manageable for a lean team. CAIS’ digital workflows reduced manual steps and centralized the data Sovereign’s advisors rely on.

Failla highlights the impact of automatic subscription documents, particularly for a fund allocating across many managers. With CAIS, “you put most of your information in once … and be able to press click and have 90% of that sub doc pre-populated.” He adds that even when handling numerous funds, “now it’s easy enough that a CEO could do it

The platform’s structure also enabled Sovereign to centralize trades and ongoing management for advisors firmwide. “We needed a way to be able to manage those 15 funds for 20 advisors and 3,300 households efficiently,” he says. CAIS provided the technology to execute consistently and scale an alternatives program that otherwise would have been difficult to support.

Continuing To Expand Access and Advisor Enablement

Looking ahead, Sovereign intends to continue deepening alternatives access for advisors. Failla underscores that streamlining alternatives delivery is now core to the firm’s value proposition. “The biggest value add that we received as a firm from CAIS was a solution to be able to more easily deliver alts to our advisors. And then more easily for them to deliver alts to their clients.”

As the firm’s multi-manager fund evolves, the CAIS platform will remain an operational foundation that supports additional strategies, ongoing allocations, and future growth.