Expeditite Growth strategy for a regional bank
Challenge
A Regional Bank had an urgent need to apply for broker dealer registration that would enable them to better serve their customers and grow their business. This objective required external resources to navigate the FINRA registration review and approval process to establish the broker dealer within an aggressive timeline.
How we helped
- Provided a GreenLine Consultants expert with deep FINRA registration expertise to augment the bank’s existing team.
- Provided FINRA registration subject matter expertise, technical skill and hands-on implementation support.
- Significantly reduced time-to-market by discovering a preexisting limited purpose registration broker dealer within the bank’s infrastructure.
- Established a trusted advisor relationship with this new client which led to additional opportunities to use our expertise, transparency, and outside-in perspective to assist the client in meeting other strategic objectives.
Client Benefits
- Early launch of initiative
- Reduced engagement cost by 85%
- Established a longer-term relationship that will deliver ongoing, strategic benefits
- Identified internal staff resources able to meet CFO, FinOp, and additional supervising principals requirements for a new Broker-Dealer, resulting in significant payroll savings.