Impress your clients by doing these three things
Coach your clients about what they should expect. It will save you tons of time in work and having to explain things, and in the process make you look like a pro.
How to run a trading business
Let the Broker/Dealer or Futures Commission Merchant create the monthly statements for you. It’s good when you’re starting out to have a third-party prepare them, and they have to do them anyway. It cuts your workload down and everyone remembers Madoff and how he created his own “customized” monthly statements (that were fiction).
Let the client know that you are trading x number of instruments and it’s not uncommon to have trade signals and executions come in bunches. Therefore, they might receive several trade confirmations on the same day. By telling them in advance, they won’t come to the conclusion that you’re a day trader given all the activity.
Conclusion
In the end, coach your clients about what they should expect. It will save you tons of time in work and having to explain things, and in the process make you look like a pro.
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