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ConvergEx|North Point Trading Partners
The firm, which offers agency brokerage and a choice of clearercustodians out of Atlanta, Chicago, Dallas, New York, San Francisco and New Canaan, Conn., claims to combine global reach with personal service. If it is not intense (the CSR-client ratio is four or five times that of a major firm), staff clearly deliver what clients expect every day. No provider gets a higher score for service. “Client service experience is the best we have had in five different primes over the past 12 years, including GS, BAC, Bear, JPM and Merlin,” says a client. Another acknowledges “fantastic response time day or night,” and third says, “Not all fund managers are aware of their great service. Not enough marketing.” This did not prevent client numbers climbing by a sixth last year. Yet NPTP, which advises clients on technology, trading, reporting and marketing, top scores for consulting. Regulation T and portfolio financing are available, and the stock loan sources include BNY Mellon, Goldman Sachs and J.P. Morgan as well as ConvergEx (“deep short box”). With most clients on the small side—three-quarters run less than $100 million—capital introductions matter. Clients are introduced to investors and plied with advice on positioning and investor needs, plus events. “Cap intro has not produced tangible results,” says a client. “But this is secondary in our eyes to their ability to provide clearing and operational services.”
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