This lesson will show you 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.
Sending Application Invites
Log in to the Advisor Portal and open the Contacts Tab.
Click on the “i” icon for a prospect, then locate the icons above the search.
Next to the Add Contact icon is the Send Application Invite icon.
Or, you can go back to the main page and locate the icons at the top right and click send an invite.
See that Interactive Brokers offers two methods for completing a client application:
- Fully Electronic
For fully electronic, you send an email invitation to the prospect, and the prospect completes an electronic application.
For the semi-electronic application, you as the Advisor complete the application, print, and send to the prospect for signature and return. The application may then be sent to Interactive Brokers for processing.
Fully Electronic Application
Enter the client name and email address, then click Continue.
Next you may use a Fee Template.
If you have previously configured a template and wish to use it, click Yes.
If you click Yes, you may select from one of the templates in the dropdown menu.
Or if you wish to configure manually, select NO and then Continue.
Here you may determine a Fee Strategy from the dropdown menu.
Here, should you select to charge fees for managing this account, you will be offered five alternative methods.
More on this when we review the Using templates and setting client fees lesson.
The Other Client Expenses area allows you to determine how expenses such as commissions, minimum monthly fees, market data and research fees are charged.
After you make those choices and click Continue, 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 email address entered.
If you want to send a semi-electronic application to the prospect, click OK to return to the Contacts page.
Click the Send Invitation icon once again, but this time select the semi-electronic application button.
This time, you will go through the online application form where you must enter client type and other information before it can be printed to send to the applicant for verification and document signature.
Use the Advisor Portal dashboard to view client status & recent activity for the past five days for all client accounts. Pending items can include funding, account opening or closing-related activities, transfers and other types of client account activities.
Disclosure: Interactive Brokers
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