DSG-Network.com: Bio

Clearing Broker/TPM Reviews and Searches

Are you interested in finding out if your current clearing broker is the best one for you? Or are you a de novo firm and haven’t chosen a clearing firm yet? Or are you a financial institution affiliated broker-dealer dissatisfied with your networking arrangement? DSG can assist you in determining your best course of action.

Too often clearing relationships are determined only by ticket prices. Although price is a major part of any decision, DSG knows that most long-term relationships are grounded in much more than ticket prices. We know that for you to truly be successful, you need a clearing partner, not just a clearing broker. That is why we spend a great deal of time getting to know your firm, the businesses you are in, the systems you employ, your core products and services, your realistic goals for the future, and your culture. While culture is often overlooked as a key component to choosing a clearing broker, DSG believes a firm’s culture is central to such an important decision.

Our first step is to understand the reasons you feel a move is important. This information is particularly useful since sometimes your current clearing broker appears to be a good fit. If this situation occurs, it is possible that a move will not be necessary as long as your current clearing broker is willing to address your concerns. DSG can assist you in this process, as well.

Once a short list of clearing brokers is developed, RFPs are sent to the primary candidates. After analyzing the responses to the RFPs and paring the list to 2 or 3 possibilities, you will have the opportunity to visit each competing firm and obtain a better understanding of their culture, systems, and personnel. DSG will assist you through each of these stages, including a final recommendation and assistance in negotiating the contract.

Finding a new clearing partner requires a great deal of work and focus. We can make the job much easier for you and your staff so that you do not lose sight of the revenue generating and processing aspects of your business. Our understanding of and experience with various clearing brokers brings you practical knowledge that can be very valuable. A number of our clients have found that the cost of our consulting fee was more than recovered in the savings realized during our contract negotiations with the clearing broker.