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►The
bank wanted a turnkey online brokerage with proprietary software
and an in-house development team.
►The
Client also wanted the
brokerage in
a specific state, and was unable to locate any interested in
selling. |
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The Challenge…
The Bank had some very specific further
requirements: the brokerage must be in a particular state,
with a high percentage of clients in that state. The
brokerage must also have its own proprietary software, and
an in-house development team to integrate the software.
The bank was interested in making this acquisition as soon
as reasonably possible – and at a reasonable price.
Recently, an online brokerage firm had been sold for what
could only be considered an extreme premium, and online
brokerages were quoting much higher prices as a result. |
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