Interactive Brokers provides multiple options for financial advisors to add or open client accounts on their platform. The process is designed to be seamless and efficient for both advisors and clients. The main method to initiate a client application is through the Advisor Portal’s Home page, using the “Add Account” button (IBKR Traders´Academy, s.f.).
There are two types of applications available: Fully Electronic and Semi-Electronic. The Fully Electronic application sends an email invitation to the client, who then completes the application online themselves. The Semi-Electronic application is filled out by the advisor, who then generates a PDF for the client to sign and return to Interactive Brokers.
For US registered advisors using the Semi-Electronic method, IBKR is integrated with DocuSign, allowing clients to submit electronic signatures remotely. The Fully Electronic method allows advisors to use pre-configured Client Account Templates to streamline the process.
Applications can also be initiated from the Contacts tab in the Advisor Portal. This method pre-populates the application with existing client information, saving time and reducing errors. Advisors can access this feature by selecting the information icon next to a contact and choosing “Send Application Invite” (IBKR Traders´Academy, s.f.).
For advisors moving their existing book of business from another custodian, IBKR offers a mass upload feature. This allows for the initiation of multiple client applications simultaneously using an Excel workbook template (IBKR Traders´Academy, s.f.). To access this feature, advisors need to contact their sales representative or the Sales Engineering team.
These various methods of initiating client applications demonstrate Interactive Brokers’ commitment to providing flexible and efficient tools for financial advisors, catering to different needs and scenarios in client onboarding.