GoldenBasis Blog

Insights on customer account transfers for bank and brokerage leaders in technology and operations.

Grant Ackerman

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December 1, 2024

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5

min read

What ACATS can learn from Amazon

As we enter the holiday shopping season, millions of Americans are getting Amazon packages with remarkable ease. Amazon has completely changed our delivery expectations, and we believe that technology and operations teams handling the delivery of financial assets could learn a lot by studying them.

Grant Ackerman

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November 26, 2024

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3

min read

How long should a brokerage account transfer take?

Investment account transfers between brokerages should typically take 4 business days, though operationally advanced firms can complete them in 3 business days. By August 2025, this will drop to 2 days with enhancements to the primary US investment transfer system (ACATS). Surprisingly, only about 15% of typical transfer timelines published by brokerages and banks using ACATS align with the standard ACATS timeline.

Grant Ackerman

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November 21, 2024

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3

min read

DTCC transfer modernization 2025 deadlines

We had the privilege of sponsoring and attending the SIFMA Customer Account Transfer Forum last week. For operations leaders and executives who couldn't attend, DTCC elaborated on three important changes coming to transfer systems next year: the removal of ACATS settle prep, a transition to JSON messaging for ACATS, and a transition to API-based processing for DWAC and DRS. We'll dive into what each change means for your firm and the mandatory deadlines you need to meet.

Grant Ackerman

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September 28, 2024

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3

min read

Account transfer takeaways from SIFMA Ops 2024

We attended the 2024 SIFMA Ops Conference last week, where we learned a great deal from conversations with account transfer leaders and various panel discussions. In this article, we're sharing our key takeaways about ACATS modernization, increasing transfer volumes, and the ongoing challenges with manual transfers.

Grant Ackerman

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July 29, 2024

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5

min read

Exploring the entities involved in a brokerage account transfer

Transferring a brokerage account is a process that showcases the intricate and well-designed system that keeps our financial markets running smoothly. We’ll examine 12 entities, each of whom plays a crucial role in ensuring that your portfolio moves securely and efficiently.

Grant Ackerman

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July 8, 2024

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5

min read

Brokerage transfer bonuses: smart strategy or misguided gimmick?

If you have a great customer experience and one of your main problems is awareness, transfer bonuses can be very effective in boosting assets through incoming transfers. However, they're easy to get wrong, so proceed with caution.

Grant Ackerman

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June 25, 2024

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5

min read

ACATS are an untapped revenue source for clearing firms

Customer account transfers are frequently viewed as a cost center buried away in the back-office. While it's true that efficiently processing account transfers can reduce costs, the potential of ACATS to significantly boost revenue for clearing firms is often overlooked.