Gemini Marks 30 Years Of Service To Independent Advisors
HAUPPAUGE, N.Y., Jan. 29, 2013 /PRNewswire/ -- Gemini Fund Services, LLC (Gemini), an engaged partner to independent advisors as a provider of comprehensive, pooled investment solutions, has marked the 30-year anniversary of its establishment.
Michael Miola founded American Data Services, Inc. (ADS), which would later become Gemini, in 1983 with the goal of designing a mutual fund accounting system to operate on personal computers. ADS changed the face of the mutual fund sector by providing access to investment advisors that had good track records but could not afford the large mainframe systems required at that time to process the massive daily transaction volumes. (ADS was rebranded as Gemini with the formation of NorthStar Financial Services Group, LLC in January 2003.)
Mr. Miola implemented a unique approach to finding the best money managers and distributing mutual funds, which is still used by Gemini today. This strategy consists of searching for the top independent managers, forming mutual funds around them, and servicing, marketing and distributing each fund in its local geographic area. Thirty years later, the company built by Mr. Miola oversees more than $17 billion in assets under administration and continues to grow."Our full-service offering, consultative approach and commitment to our advisor partners have made Gemini a strategic partner to advisors seeking to overcome the barriers of entry to the pooled investment market," said Andrew Rogers, Chief Executive Officer of Gemini. " Michael Miola may not have known it 30 years ago, but his vision and dedication would go on to completely transform the pooled investment arena. As we continue to grow, Gemini will remain at the forefront of enabling small and mid-sized funds to navigate an evolving regulatory environment." In order to accommodate the growing number of independent advisors looking to Gemini for assistance, Gemini has launched additional shared fund trusts during the past year. These fund trusts, which allow advisors to obtain operational efficiency, economies of scale and fund sales that they would not be able to achieve on their own, have helped Gemini grow its assets under administration by $5 billion during the past year alone. Its shared fund trust offerings now include the Northern Lights Fund Trust (NLFT), NLFT II, and NLFT III, as well as the Northern Lights ETF Trust (NLET), Northern Lights Variable Trust (NLVT) and the Two Roads Shared Trust. "Our shared fund trusts provide a clear path for advisors to bring their pooled investment vehicles, including mutual funds, exchange-traded funds and hedge funds, to market in a cost-effective way," said Kevin Wolf, President of Gemini. "Over the next 30 years and beyond, Gemini will keep providing advisors with the solutions they need to launch and grow their funds." The increase in demand for Gemini's pooled investment services has also required the firm to expand its offices in Hauppauge, N.Y. and Omaha, N.E. Gemini's new headquarters, which also houses NorthStar subsidiaries Northern Lights Compliance Services, LLC and Gemcom, LLC, is located at 80 Arkay Drive in Hauppauge. Gemini moved into its new Hauppauge office in January 2013 and will hold an open house on April 4, 2013. Gemini transfer agency and Northern Lights Distributors, LLC, operate out of Gemini's office at 17605 Wright Street in Omaha. "As the number of advisors seeking Gemini's assistance to bring their funds to market increases, we will continue to offer the personalized service that has allowed us to hone in on the best solution for each advisor," said Eddie Lund, Vice President of Business Development at Gemini. "Our services and solutions will allow each advisor to launch their own unique pooled investment vehicles, including alternative investment funds." For media inquiries, please contact Dana Taormina at 973-850-7305 or firstname.lastname@example.org. About Gemini Fund Services, LLC Gemini Fund Services, LLC ( www.geminifund.com) provides comprehensive, pooled investment solutions as an engaged partner to independent advisors. Gemini serves as a strategic partner and resource to advisors that want to bring their own, unique investment vehicles to market, including mutual funds, hedge funds, and alternative investments such as collective investment trusts. As a full-service firm, Gemini provides the administration, accounting, and technology that advisors need in order to launch and market successful products. With over 30 years of experience creating and servicing funds, Gemini brings years of industry knowledge and insight to help advisors achieve the vision of their product and deliver the most extensive range of turnkey solutions to clients. SOURCE Gemini Fund Services, LLC
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