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Duration: 4:40

Level: Beginner

See how to invite a prospect to open an account using the Advisor Portal. Learn about the two methods for completing a client application: fully and semi-electronic.

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Study Notes:

How do you invite prospects to open an IBKR Account?

The first step is to log in to the Advisor Portal and open the Contacts Tab.

Navigate to the prospect that you wish to send the invite to, then click on the invite icon.

You’ll see that Interactive Brokers offers two methods for completing a client application: fully and semi-electronic.

For fully electronic, you send an email invitation to the prospect, and the prospect completes an online application.  For example, click Fully Electronic, then click continue.

Next, enter the prospect’s email address, if not listed.

You can apply a previously created client template which contains the account type, base currency, trade permissions, etc.  to some time.  Note, that we’ll cover how to create these templates in another lesson.

So, if you wish to use a template, click Yes. Then you may select from one of the templates in the dropdown menu. Or if you wish to configure a prospect manually, select NO.

Next, review the invitation before sending by clicking the Continue button. Then you will see a message confirming that the invitation was sent successfully to the client’s email address.

Now, let’s send a semi-electronic application to a prospect, click the Send Invitation icon once again, but this time select the semi-electronic application button.

For the semi-electronic application, you as the Advisor complete the application electronically, and then send it to the client for review and signature.

Why would you want to select this option?  If you have a prospect that may have issues using an online application, it may be easier for them to review it and then sign it.

So, let’s select Semi-Electronic.  You will be redirected to an online application whereby you will enter information about the prospective client.

On this page, select individual, followed by checking no fee on the next page.

Here’s where you really begin – create a username for the client and select their region of legal residence.  It’s Important to note, this username is permanent.

Click create account.  Set the state or province, followed by the customer type.  Click the question mark icon for explanations about the different types.  Then click continue.

Now you’ll see the About Your Client Page.  Walk through all the sections and enter the required details, contact information, employment status and source of wealth.  Next, select the account type, income and net worth, investment objectives and trading experience.  Plus confirm the regulatory questions.

Next review the entered information, add the federal tax classification and click continue.  You will then see all the information and will have the ability to download agreements and disclosures.

We’ll select to fund the account or fund at a later time.

Next, you’ll see an application status page.

Here’s where you can email the client the application for signature and review.  If you decide to make some edits, you can review the previous steps.

If there are any open questions about the application – select to review and respond if possible.

Prospects will have to submit a photo id and a document to verify their residential address.  Click on the question mark icon for instructions.

If you access the Advisor Dashboard you can view the status of the client’s application at any time.  When you click on the status link, you’ll see a full list of what’s been completed and what’s left to do.

And at the bottom of the page, you can Modify or Delete the application.

So, here’s one way you can start to bring over prospects to IBKR, in other lessons will discuss creating templates and much more!  Thanks for joining us.

Disclosure: Interactive Brokers

The analysis in this material is provided for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such investments. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

Supporting documentation for any claims and statistical information will be provided upon request.

Any stock, options or futures symbols displayed are for illustrative purposes only and are not intended to portray recommendations.

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