Financial advisors are always on the lookout for strong products and services to offer their clients and BofI Advisors has designed their core banking products with that in mind. Knowing that financial advisors face difficult demands from their clients the offerings from BofI Advisors serve to meet those demands, providing excellent customer service and superior earnings.
As a division of BofI Federal Bank, BofI Advisors has developed a list of banking products that include Select Money Market, providing a highly competitive rate, plus liquidity, flexibility and accessibility with limited check writing privileges; Select Checking, providing An Interest Earning Checking Account with high yields that beat the competition; Select Savings, providing a safe and secure Savings Account with a highly competitive rate; and Select CD, providing high rates, high returns, and no market risk.
These banking products can be offered by financial advisors through an agreement established between BofI Advisors and the broker-dealer. Upon establishing eligibility a financial advisor need only register for a training course on the banking products and upon passing that course fax the disclosure compliance report and they can then offer their clients the core banking products.
Financial advisors will then receive residual compensation on a quarterly basis from their broker-dealer for the account opened and funded by their clients. These financial advisors also have the ability to view their clients’ accounts online and provide them with advice provided their clients grant permission for access.