Onboarding Friction for OTC Block Trades - PSP/Broker Experience

Hey everyone,

I'm curious to hear about others' experiences, particularly on the institutional side, regarding the onboarding process for new PSPs or brokers when dealing with larger, less liquid assets or OTC block trades. We've been evaluating a few new partners recently to diversify our execution venues, especially for some of the more niche digital assets where liquidity isn't as deep as $BTC or $ETH. The KYB and compliance hurdles seem to vary wildly, and what looks like a seamless process on paper often bogs down significantly once you're in the weeds with actual document submissions and internal reviews.

Specifically, what has been your experience with the time from initial contact to fully cleared and funded accounts, ready for trade execution? Are there specific red flags you've learned to watch out for during the sales pitch that hint at future operational bottlenecks? We've hit a few walls with firms that promise quick setups but then get stuck on beneficial ownership documentation for weeks, even with everything meticulously prepared on our end. Any insights on how to better vet these processes upfront, or what kinds of questions to ask to truly gauge their operational efficiency beyond just competitive spreads and fees, would be hugely appreciated. It feels like every additional week in onboarding is a week of missed opportunity, and the cost of capital tied up waiting can be substantial.