Family Advisor Account

A

AlphaRocks

Hi, I’m looking to open an Advisor account for family and friends (less than 10 clients). I was considering Interactive Brokers, but after reading some nightmarish reviews of people having issues with them making withdrawals, etc., I definitely don’t want to risk putting my clients thru that. So any suggestions, other than IB, are welcome.

Does anyone have any recommendations for best broker in this area, for a non-registered (non-RIA) Advisor with low minimum AUM requirements (< $300K)? Banking type of institution would be preferred since they tend to have bigger balance sheets and better reputation. Also, need to be able to trade US Equities, Options, Futures, Bonds, ETFs and Mutual Funds; Asian (Japan, Korea) markets would be nice but not required.

Thank you for helping
 
some additional info:

I was looking into a reputable bank for custodian, like US bank, but they have $20M AUM minimum requirement, and in my case, I may only start with 3 client accounts and the combined total maybe around $300K or less.
Thanks
 
IronFX does not seem suitable for me (I'm based in the USA):

- IronFX is not registered with the SEC (USA) or FINRA
- website does not have any info on Advisor accounts or master accounts that allow you to trade on client sub-accounts
- commissions are very high compared to US retail brokers (18USD/trade)
- seems more geared towards forex trading than equities and options

Thanks
 
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