Investment Banks and broker dealers wish to participate in the New Business Ecosystem NBE will need to follow the following steps;
1/ Establish a user name and password on the New Business Ecosystem web site.
2/ Fill out Broker Dealer/ Investment Bank Membership Form found in the Membership Access page of this website.
3/ Fill out the Broker Dealer Qualification form which can be found on the Broker Dealer Access page of this website.
4/ Fill out a Money Manager Voucher Form indicating which NBE participating fund families that have accounts with your desk and meet the asset or activity minimums specified in the Member Requirement page of this website.
Note ; A list of all NBE participating fund families can be found in the Broker Dealer Access section of this website.
5/ Within 2 -3 business days after Broker Dealer Qualification and Money Manager Voucher forms are submitted the NBE administrator will then coordinate the calendars between NBE participating issuers and the investment banking departments.
There will need to be at least two designated meeting times per month that are available for NBE issuers to make presentations. Calendars with designated meeting times with investment banks will need to be maintained with times sectioned off for no less than three months in advance during the investment bank’s NBE participation.
These various meeting times will be continuously coordinated between the NBE administrator and the various back offices of the participating investment banks to maintain the three month advance calendar.
6/ As new money manager customers open accounts with NBE participating broker dealer trading desks the management of those trading desks will need to fill out Money Manager Voucher forms for those new NBE money manager customers once they meet the asset or activity minimums specified in the Member Requirements page of this website.
There will need to be a Money Manager Voucher Form filled out for each new participating fund family that is on the books and meet the minimums. This way all participants can get proper recognition an new business credits with in the NBE.
Special Notes: If for whatever reason a participating investment bank has not funded any ecosystem offerings in a five month period then that investment bank will align eligible ecosystem registered reps with issuers (at least two issuers) already in line for funding that are clients of the participating investment bank but not ecosystem participants. As part of this alignment the investment bank will open the door through referral for the these NBE reps to capture business from the nonparticipating issuers. This new business can come in many forms. Those being group insurance, key man insurance, buy-sell funding insurance, estate tax funding, retirement benefits, ect. This business is to be provided by ecosystem reps and potentially bought by the non NBE participating issuers in the event no NBE issuers obtain funding in a four month period.
These participating investment banks will fund NBE transactions based on merit and suitability only. No offering will have any precedence over another. The NBE administrator is only looking to insure is the system is functioning fluently and professional participants are capturing new business on a continuous basis as a result of what ever NBE transactions get funded. (IE it will just be numbers game)
The investment banks will determine which of their clients should be presented with these offerings based on the KYC rules only.
There may be many instances these offerings are not appropriate for certain NBE participating funds or families, in those cases the investment banks will seek other suitable clients in their book to solicit participation in the offering as they would normally.
