Our partnerships with trusted banks globally allow us to introduce you to the banking platform best suited for your needs and to facilitate the account opening process.
This is how the relationship works:
- 1. Client signs an Asset Management contract with Finaport.
- 2. Client gives Finaport a Limited Power of Attorney (LPOA) that enables Finaport to instruct the bank on behalf of the client but, other than management fees, does not allow the withdrawal of funds.
- 3. Finaport helps client to open an account with the bank, or client already has an existing account.
- 4. Finaport has an agreement with the Bank that allows the management of client's assets as an External Asset Manager.
- 5. Finaport gives purchase and sell orders to the bank.
- 6. Bank sends trade execution confirmation to Finaport.