Associate Membership is the second tier of the ABX membership structure for organisations who have been sponsored by a Full Member. Engaging in trade execution and storage, Associate Members introduce and manage Private Clients on behalf of their sponsoring Full Member.
Associate Members are traditionally smaller organisations within the financial industry who offer complementary investment services to their Private Clients and wish to diversify their revenue streams. This category of Membership is best suited to:
- Wealth managers
- Accountancy firms
- Insurance brokers
In all instances, the sponsoring Full Member remains responsible for the clearing and settlement of all Private Clients introduced by the Associate Member. With full access to MetalDesk through their sponsoring Full Member, an Associate Member trades on behalf of their Private Clients as agent.
The due diligence criteria and relevant commissions structure for each Associate Member is determined by the sponsoring Full Member.