The custodian has sought to streamline the often archaic and onerous process of onboarding advisors and clients.
The custodian TradePMR announced availability Wednesday of an improved digital account transfer tool to be used by registered investment advisors and breakaway brokers when transitioning.
The new tool, part of TradePMR s Fusion platform, is meant to streamline the often clunky, error-prone, and time-consuming process that advisors and clients experience when moving from one custodian to another or when leaving one brokerage for a new one.
According to the firm, advisors can move and open hundreds of accounts in just a few minutes. At present, TradePMR has over 700 advisors representing about 350 firms using Fusion. While the firm does not publicly share its assets under management, Chief Operating Officer R. Scott Victoria said it currently “has $40 billion in client AUM in the recruiting pipeline,” half from existing RIAs and the remaining half from breaka