Independent Financial Partners finds Agreement Express agreeable
Account onboarding firm Agreement Express has inked a large contract with Florida-based Independent Financial Partners (IFP), reports Julie Muhn at Finovate.
Maybe they didn’t shake hands, but hugged for ten minutes?
The deal comes in advance of IFP launching its broker-dealer technology that will allow advisors to run their business on their own.
IFP will leverage Agreement Express’ Automated Broker Transitions platform. The technology will enable advisors to digitally pre-populate new account forms.
Once clients sign the form and it has been approved by the compliance team, the account will automatically be opened at one of IFP’s four custodians: Pershing, Charles Schwab, Fidelity or TD Ameritrade.
Overall, Agreement Express says it will help transition clients in a matter of days instead of months, will provide a complete audit trail, and will minimise human form-filling errors.
“Generally, hybrid RIAs don’t have the latitude or financials to be able to implement expensive technologies that otherwise would positively impact advisors’ businesses,” says IFP CEO William Hamm. “On the other hand, independent broker-dealers not only have control of their own destiny, but they are also able to better control and enhance their revenue lines.”
Earlier this spring, Agreement Express received an undisclosed amount of funding, boosting its total to more than $1 million. Among the company’s clients are National Bank of Canada, Questrade, and M&T Bank. Mike Gardner is CEO.
