Rivkin

Australian broker Rivkin saw significant client growth after the
global financial crisis, which meant it could no longer deliver
its advisory services in a scalable manner. To help scale its these
services, Rivkin engaged Saxo and developed a corporate app
on its OpenAPI

Industry

Stockbroker

Company size

20 employees

Headquarter

Sydney, Australia

Rivkin needed a solution in order to scale its advisory services.

In the aftermath of the global financial crisis, Australian broker and wealth advisor Rivkin saw a massive influx of new clients. Its personalised service and one-on-one approach to financial advice was a key reason for its success. To be able to service its new larger client base effectively – and continue to offer the tailored advice that was core to its business – the company needed to scale up. Rivkin would have to either bolster staff numbers in its advisory department or invest in new technologies

Challenge: Find a cost-effective solution

Scaling up staff numbers was less appealing to Rivkin due to the higher associated costs, so it started to consider if part of its advisory service and execution could be automated. After some experimentation and significant sparring with Saxo, Rivkin arrived at a solution that was win-win for both parties.



Solution: Develop a corporate app

Rivkin would previously send personalised trade recommendations via emails, for clients to manually call in orders. Orders would then be executed by a dealer; a cumbersome process that was both expensive and potentially error prone.

However, thanks to Saxo’s OpenAPI, Rivkin was able to replace this manual flow with the ‘Rivkin PushTrade’ app. By using our OpenAPI, Rivkin could utilise its clients personal risk parameters and preferences to send personalised advice, in addition to its broadly distributed general advice. Such advice appears in the form of an actionable trade recommendation within the PushTrade app. With a tap, clients can review and accept the recommendations.

Accepted trade recommendations are sent directly back to Rivkin, where dealers take a verifying look to ensure the advice given was tailored to the correct client. As soon as a Rivkin dealer releases the order, it is automatically routed to Saxo via OpenAPI and the trade is booked on the client’s account.

  • 1. Engagement

    Rivkin packages and distributes trade ideas with unique URLs to clients via SMS.

  • 2. Conversion

    Rivkin’s CRM then packages trades as orders and routes them to the OpenAPI.

  • 3. Trading

    Trades are pushed to Rivkin’s OM, reviewed and then routed to Saxo.


    Get a solution like Rivkin’s 

    Results:Increased trading activity, lifetime value and ROI

    By combining the elements of a traditional broker service with flexible app technology, Rivkin was able to scale up its offering and provide better, more tailored advice to its clients.

    This resulted in improved user experiences and a significant increase in trading activity over time. Longer term, the Australian company also saw the lifetime value of its clients increase, which produced a greater return on investment.

    You can watch an introduction to Rivkin’s application here





     


    About Rivkin

    Rivkin is a privately owned Australian stockbroker and wealth advisor founded in 1997. It offers diversified financial services, including research and general advice on local and global markets, asset management for wholesale investors, stockbroking and contracts for difference (CFD) trading. The tech savvy company is a long-standing white label client and IB partner of Saxo Bank, with a relationship stretching back to 2006.

    See how we enabled Rivkin to build a solution across our full value chain.

    01 Client experience facilitation

    Platforms or APIs for self-directed clients Rivkin adapted Saxo’s proprietary trading and investment front-ends to its own branding built its own bespoke apps via OpenAPI

    • Web, mobile and tablet trading via SaxoTraderGO
    Managed portfolio solutions for advisory and discretionary clients
    • Block trading on multiple managed accounts

    02 Execution and trading services

    35,000+ instruments from one account
    • Asset classes include FX, CFDs, stocks, bonds, ETFs, mutual funds
    • Single cross-margin trading environment to execute orders and manage risk
    Best-in-class execution and liquidity
    • Liquidity sourced from 85 venues, multiple Tier 1 banks and ECNs
    • Integration of own-flow execution through local memberships
    • Market data service
    Integrated risk management
    • Real-time position keeping and account management
    • Real-time risk and margin monitoring
    • Activity log of all trading-related activity

    03 Post-trade services

    Integrated custody and back-office services
    • Reconciliation, settlement and custody
    • Automatic overnight financing
    • Corporate actions processing and stock transfers
    • End-of-day and real-time reporting across front-, middle- and back-office
    • Collateral management and reporting

    Regulatory reporting services
    • Consolidated reports and end-customer statements
    • Compliance reporting across 170 jurisdictions

    04 Tech foundation

    Connectivity and APIs
    • End-of-day file transfers for reporting and business intelligence
    • OpenAPI services to build bespoke user experiences
    Client management services (CMS)

    Services for white label models with undisclosed end-clients

    • Multi-account structures
    • Self-directed, advisory and discretionary client set ups
    Business management and intelligence
    • Real-time lead and client administration via SaxoTools
    • Real-time back-office platform via WebConnect

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