Prime Brokerage Account Closing
This workflow template illustrates the closing and final servicing of prime brokerage customer accounts. Purchase and download this template in PDF and Visio (VSD) formats. You can customize it to fit your own organization, or simply use it to better understand Prime Brokerage Account Closing processes.
What is Prime Brokerage Account Closing?
The Prime Brokerage Account Closing process involves the closing and final servicing of prime brokerage customer accounts (prime brokerage services are typically provided by most large brokers to other large institutions and hedge funds). This process includes communications with clients, client instruction (for transfers or liquidation) completion, exposure reviews (late charges, dividends on margin shorts, debit charges, residual balances), compliance reviews and final account closure and monitoring. Customer service representatives should determine the reason for the client's desire to close the account (clients can be called, if necessary) as it may provide future opportunities for improvement.
Download a Sample Prime Brokerage Account Closing
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