Multi-asset investment specialist Saxo Bank is standardising the termination process for its direct and partner end-clients.
There are several reasons for terminations and some of them include clients that have never funded, clients who ceased trading a while ago clients who haven’t finalised their renewals which are now expired, or clients living in jurisdictions where Saxo does not offer its services anymore.
Saxo is currently developing a standardised process that will be implemented starting in October. Partners who have affected clients that are due for termination will soon receive an overview from their account manager for those clients, as well as details on the process, timelines, and communication with their end-clients.
Saxo advises asset managers that, in order to retain their end-clients, they should support them in either the smooth transferring of remaining assets (if any left) or the finalisation of any overdue ODD/renewal.
