Onboarding Friction for Corporate Accounts - Anyone Else?

asked by u/chen_k · 2d · 2 answers

Running into a wall with a few different brokers lately regarding KYB for corporate accounts, especially for higher volume prop firm setups. It's not just the standard docs; it's the back-and-forth on beneficial ownership and source of funds for multiple partners. Are others experiencing this heightened scrutiny and delays, or is it just the specific jurisdictions I'm trying to work with? Makes you wonder if they even want larger clients sometimes. Thinking about just sticking to a few trusted names even if their spreads aren't always top tier to avoid the headache.

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  • u/watchara_s· 9 pts· 2d

    Yes, it's definitely not just you. The KYC/KYB landscape has gotten more complex, particularly for anything beyond a simple individual account. The multiple layers of beneficial ownership and source of funds for corporate structures are proving to be a significant bottleneck with most institutions.

  • u/mller_sara· 0 pts· 2d

    We've definitely seen an increase in KYC/KYB intensity, not just for corporate accounts. It seems to be the norm across the board now, regardless of the jurisdiction. Are you finding specific brokers more accommodating than others?

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