The Assent New Accounts Group works very diligently to quickly open new accounts, and process certain account profile updates, such as mailing and/or e-mail address changes, phone # updates, etc.
Due to Federal regulations and internal policies and procedures, when opening a new account, Assent is required to obtain specific documentation to thoroughly verify that Customer Identification Program ("CIP") requirements have been met.
For more details about the specific steps involved in opening a new customer account, please click here.
Below, please find some answers to certain frequently asked questions relating to new accounts.
I'm confused, what's the difference between opening a "proprietary" trading account versus opening a "customer" account?
Please refer to the page on our site that explains the nature of these two, distinct kinds of accounts. Click here.
I've spoken with your representatives about my interest in opening a new account. What do I do next?
Confirm your interest in opening a new account with the Branch Office Manager. They'll direct you to our clearing website, where you can download the latest customer and/or proprietary trading new account packets. The Branch Office Manager will walk you through the contents of the package and review the checklist with you to be sure everything is in good order.
I'm trying to open a new account and now I've been asked to provide "photo id" and supporting documentation such as a utility bill or bank statement. Why is that?
Various federal regulations, including, but not limited to, the Anti-Money Laundering provisions incorporated within the US Patriot Act require us to thoroughly verify the identity of prospective account holders. ALL prospective new account holders MUST provide photo ID. Usually, this requirement may be met by furnishing a valid, current, domestic driver's license. Those who do not possess a valid driver's license can instead furnish a valid, current passport. If you do not have either a driver's license or a valid passport, please alert your Branch Office Manager who can follow up with our New Accounts Group to determine if there is another suitable means of meeting this federally mandated requirement.
And, the second part of my question, why do I need to furnish a utility bill or recent bank or credit card statement?
Such requests, when they are necessary, are part of the steps we must follow in executing the facets of the CIP program. These steps are typically necessary when the driver's license or other acceptable photo ID provided does not match the intended address of the new account to be opened. We may also need to ask you for additional address verification if you have recently moved, or if your surname or other identity verification components trigger certain follow up requirements. Our only intention is to sufficiently meet the identity verification requirements that all broker-dealers are held to.
Please note that these CIP requirements were not created by Assent alone, they are federal requirements that all registered financial institutions must comply with.
I'd like to open my new account as soon as feasible. Can I fax in my paperwork?
Generally speaking, we cannot accept faxed copies of documentation. We will always insist upon original, signed copies of paperwork being furnished prior to activating an account. Under special circumstances, a faxed copy may be permissible, but only when it is promptly followed up by delivery of the actual original copies and only where the New Accounts Dept. has had the opportunity to positively confirm with the Branch Office Manager that the original copies are en route.
I've recently moved and I now have a new home address, phone # and a new e-mail address. What's the best way of having my profile information updated?
Typically, such notifications of updated profile information should be conveyed to Assent's New Accounts Department through the Branch Office Manager assigned to your account. He/she will be aware of the internal notification protocols we have established. When conveying such updated information to your Branch Office Manager, be sure to remind him/her what your account # and trader log in ID are and the effective date of your move.
I'd like to open my new account as a remotely traded account. What special paperwork will be needed?
The standard new account opening requirements apply --- whether you're planning to open a new account in order to trade from home or in an office, or both. However, remote traders do need to complete an authorized request form that starts the process off for getting a remote log in ID established.
I don't have a US address. Is it still possible to open a new account?
That depends upon several factors, including what country you're residing in, and what bank you use. It's best to discuss your situation with one of our Branch Office Managers.
I have some documents to mail to Assent. Where should I send it?
As with other account service related matters, your Branch Office Manager should be your liaison with our firm. You can contact your Branch Office Manager by consulting our Branch Locations page of this website. For sending in materials to us directly, please refer to our Contact Us Page for appropriate contact details.
PLEASE NOTE THAT CERTAIN NEW ACCOUNT OPENING REQUESTS MAY REQUIRE SUPPLEMENTAL DOCUMENTATION ON A CASE-BY-CASE BASIS.
