Griffin Account Types

Griffin offers several types of accounts tailored to meet the diverse needs of its clients. The available account types include:

• Dedicated Accounts: These accounts allow you to open an individual account for each customer, enabling precise tracking of their balances on Griffin's platform.

• Pooled Accounts: In this setup, all customer funds are pooled in a single account, which requires external tracking to determine which funds belong to which customer.

• Client Money Account Types:

• General Client Money: This account can hold funds for one or more clients without any prerequisites.
• Designated Client Money: This account holds funds for one or more clients with a written agreement specifying the bank and account.
• Designated Client Fund: This account allows holding funds for clients with explicit agreement to pool their funds in a specified bank account.

• Operational Accounts: These accounts are used for day-to-day operations, and there may be limits on the number of operational accounts you can maintain.

• Primary Account: Clients can choose which account becomes their primary account, and there are options to close it if needed.

Griffin Broker Account Opening Process

Opening an account with Griffin is a straightforward process that can typically be completed in just a few steps:

• Select the Account Type: Choose from the various account types available, such as Dedicated or Pooled Accounts, based on your business needs.

• Provide Necessary Information: You will need to supply personal information, including:

• Name
• Social Security Number (or Taxpayer Identification Number)
• Address
• Employment status and occupation
• Annual income and net worth
• Investment objectives and risk tolerance

• Complete the Application: Fill out the application form, which may be available online, and submit it for review.

• Account Verification: Griffin will review your application, and upon approval, you will receive a confirmation with your account access details.

• Fund Your Account: After your account is set up, you will need to fund it, typically through an electronic transfer from your bank account.

• Start Trading: Once your account is funded, you can begin trading and managing your investments on the Griffin platform.

For more detailed information, please refer to the official Griffin resources.