In an earlier blog post we discussed the importance of client service to institutions from account opening and trading to operational support and beyond. In today’s digitized world, technology connection is paramount to the success of any U.S. broker-dealer offering online trading and brokerage services.
However, even with unparalleled technology, customer service is still crucial to the success of any business. Unfortunately, support is increasingly relegated to automated, canned answers that offer no real assistance. Not only that, but all too often, clients reach out to a service provider for help with an issue that easily could have been prevented with a proactive, customized approach to service.
Here at ViewTrade, our Client Services Team takes the Know Your Customer rule (KYC) well beyond simply collecting documents at account opening. Read more
This month we’ve tapped subject matter expert Ross McGill (a friend to ViewTrade who has been at the pulse of global financial markets for decades) to share his insights on what it means to be a qualified intermediary (QI) versus a non-qualified intermediary (NQI).
Mr. McGill is Chairman and co-founder of TConsult, a UK based consulting and regulatory services firm with clients in fifteen countries. McGill literally wrote the book on US withholding tax now in its second edition. Mr. McGill sits on several international committees as a tax specialist, notably ISO20022 standards groups on corporate actions, proxy voting and funds management. He has also been an expert witness and was a contributor to the European Commission’s work on the removal of barriers to the free movement of capital. Mr. McGill is a well-known and respected subject matter expert. Read more
It is the twenty first century, though no matter how much technology you put into the hands of your business-to-business (B2B) or business-to-consumer (B2C) clients, we cannot ignore the tremendous value of the human element in driving results. Financial services remains a people business.
Over the course of time we’ve seen human interaction for day-to-day transactions become unnecessary. Transactions such as trading, cashiering, research and the like have all become automated. Regardless of these developments, there is no substitute for having a live, knowledgeable person to contact when you need to fill the gaps in a process or when things inevitably do not go quite as you expected.
The true value of service is how well a service provider reacts to an issue when it arises. And the way a support platform or help desk responds when an anomaly occurs is the true measure for the quality of an institution.
Great service will always win. Read more
Technology has changed how non-U.S. broker-dealers, also known as foreign financial institutions (FFIs), work with their customers.
At the turn of the 20th century, the financial markets saw the beginning of the end of traditional brokerage. While self-directed, online trading was quickly gaining traction in the U.S., customers of many foreign financial institutions still had limited access to U.S. markets via these means. Over time, as access to the internet improved globally, demand grew from FFIs to expand their global brokerage services.
What is driving this demand? Read more
At the end of last year, we gathered associates from around the world and celebrated our firm’s 20th anniversary. We founded ViewTrade in 1999 with the idea to provide foreign banks, brokers, and other financial institutions with electronic access to the US markets. At that time self-directed online trading was becoming exceedingly popular, so we built a team of very experienced associates and made it happen.
In the early years, investors had little experience trading stocks outside of their own local markets. As communications and technology advanced, brokers and banks of all sizes were empowered to allow their customers to trade anywhere in the world. And advancements in the speed of execution brought minutes down to a fraction of a second leading to better liquidity and the drastic lowering of execution costs.
The industry evolved and so did we. Read more