Interactive Brokers’ client management programs for advisors go global
Electronic trading major Interactive Brokers completed the roll out of its reconfigured and enhanced client management models for US advisors and has begun rolling out the services to advisors around the world.
The enhanced client management model offers improvements such as:
- Operational Control: These new models allow you to complete various tasks, such as funding requests and information changes, on behalf of your clients. Depending on the program, IBKR will accept the changes or once entered by the advisor, clients will use a simplified process to approve, sign and confirm your action.
- Enhanced Dashboard: Interactive Brokers has enhanced the Client Pending Items tab (formerly Pending Items) on the Dashboard. This tab will show you all pending tasks for your clients and either allow you, as the advisor, to complete the task on behalf of the client or send an automated email asking your client to address the task.
- Improved Messaging: Interactive Brokers has redesigned the Sub Account Messages tab and streamlined communications from IBKR by aggregating, categorizing and routing messages to the advisor to avoid unnecessary client contact.
Interactive Brokers offers three client management models with customizable participation levels:
- Streamlined simplifies the process by which clients approve funding requests, sign agreements and confirm changes and instructions entered by their advisor. Advisors can customize specific features, and communications from IBKR are aggregated, categorized and routed to the advisor to avoid unnecessary client contact. Once you enrol, all clients are automatically enrolled.
- Streamlined Plus allows advisors to perform certain administrative tasks on behalf of their clients. Once you are approved for participation, clients will automatically be enrolled during the application process with the same advisor authorizations applying to all.
- Full-Service clients enrol individually and choose the powers they wish to grant their advisor, which can include moving funds or assets on their behalf and performing a broad range of administrative tasks.
Advisors will be presented with eligible programs on the enrollment screen, which can be found in the Advisor Authorizations screen on the Settings page in Advisor Portal.