Onboarding Friction for Mid-Cap Prop Firms
Curious if others are seeing increased friction onboarding with mid-cap prop firms lately, specifically around KYB and documentation for corporate accounts. My latest experience with a new forex prop, well-regarded for their payout reliability, involved an almost two-week back-and-forth for what I consider fairly standard corporate entity documentation. It wasn't the documents themselves, but the specificity and numerous revisions requested on minor details of supporting paperwork. It feels like a heightened scrutiny post-2023 for any firm handling significant AUM, impacting deal flow efficiency. Is this becoming the norm, or did I just hit an outlier?