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  5. Trading 2012 Survey

Trading 2012 Survey

 
 
LPL Financial is looking to redesign the mutual fund, equity, ETF, and option trading platform within BranchNet. The objectives are to enhance the features of trading to provide more robust trading capabilities and allow you to trade your clients’ accounts more efficiently.

In order to determine the most important features of the new trading platform and to make sure that we understand your top priorities for trading, we are asking you to complete a short online survey. It is easy to fill out and your responses will be kept confidential. We appreciate your assistance, as your participation is essential for LPL Financial to continue to provide great service, support, and technology. Thank you very much for your time and support.
 
 
Name
   
Rep ID
   
 
 
Advisory %
   
Brokerage %
   
Direct Business %
   
Other %
   
 
 
Equities %
   
Mutual Funds %
   
Options %
   
ETFs %
   
Fixed Income %
   
Annuities/Insurance %
   
Other %
   
 
 
How often do you use the current BranchNet trading platform?
 
Daily
 
Weekly
 
Monthly
 
Quarterly
 
Never
 
Other
 
 
 
How many trades do you enter per year?
 
0 - 100
 
101 - 500
 
501 - 1000
 
1001 - 4000
 
10,000 +
 
 
On a scale of 1 - 10 (1 being not satisfied at all, 10 being most satisfied), please rate your current satisfaction with the BranchNet trading platform.
1 2 3 4 5 6 7 8 9 10
 
 
Please explain why you've chosen your rating.
   
 
 
What types of trades do you primarily do within BranchNet?
 
Mutual Funds
 
Equities and ETFs
 
Options

 
On a scale of 1 to 5, please rate your level of satisfaction with the following type of trades (1 being dissatisfied and 5 being very satisfied):
1 2 3 4 5
Single Account/Single Order - placing one mutual fund order in one account
Single Account/Multiple Orders - placing multiple mutual fund orders in the same account at the same time, comprised of both buys and sells
Multiple Accounts/Multiple Orders - placing multiple mutual fund orders in multiple accounts at the same time, comprised of both buys and sells
Mutual Fund Batch trading – placing a buy or a sell of a single selected mutual fund in multiple accounts
Mutual Fund exchanges – exchanging out of one mutual fund and into another mutual fund within the same fund family
 
On a scale of 1 to 5, please rate your level of satisfaction with the following types of trades (1 being dissatisfied and 5 being very satisfied):
1 2 3 4 5
Single Account/Single Order - placing one equity order in one account
Single Account/Multiple Orders – placing multiple equity orders in the same account at the same time, comprised of both buys and sells
Multiple Accounts/Multiple Orders – placing multiple equity orders in multiple accounts at the same time, comprised of both buys and sells
Placing stop or limit orders for equity positions
 
On a scale of 1 to 10, please rate how often the following events occur when Trading. 1 means this scenario does not occur very often, 10 means this occurs pretty often:


I trade when I rebalance accounts back to a model portfolio. I select a single account and enter multiple orders to buy and sell securities for the account based on the model deviations.
 
 
 
I trade when I rebalance accounts back to a model portfolio. I use ASI to trade on multiple accounts and submit multiple orders at a time.
 
 
 
I trade individual positions at the request of the client.
 
 
 
I trade when a client needs a cash distribution that requires partial liquidation across multiple holdings.
 
 
 
I trade when a client adds cash to the account that needs to be allocated across multiple holdings, both new holdings and existing holdings.
 
 
 
I trade based on significant market movements. I update multiple positions in multiple accounts at a time based on market analysis.
 
 
 
I manage models and trade when models are updated, either by my own research or LPL Research updates.
 
 
 
I trade when new money comes into a brand new account.
 
 
 
I trade when I want to raise or lower the cash position across multiple accounts. I trade proportionally on the securities held in the accounts to raise or lower cash.
 
 
 
I trade when I want to get out of a mutual fund position, either due to a drop in fund rating, change in manager, etc.. I batch sell out of the position for all clients who hold it.
 
 
 
I trade when I want to do a mutual fund exchange between two funds within the same fund family.
 
 
 
I trade when my client changes their investment objective or strategic goals.
 
 
 
I trade when I set up systematic distributions for my client.
 
 
 
I create stop and limit orders on equity positions.
 
 
Are there other trading scenarios that you frequently do that are not mentioned above?
   
 
 
Are there trading scenarios that you are unable to do in BranchNet today or scenarios that you would like to be more efficient?
 
Yes
 
No
 
 
Please explain your answer:
   
 
The next series of questions are intended to address the relative priority of potential features that could be included in a new trading platform:



Rate the importance of worksheet style trading. Worksheet style trading is the ability to view all positions in the account and enter multiple buys and sells in one or multiple accounts. (1 being not so important, 5 being very important)
1 2 3 4 5
 
 
Please explain your answer (Optional)
   
 
 
Rate the importance of doing a batch buy for mutual funds, equities, and ETFs. A batch buy is the ability to enter multiple trades on the same security across multiple accounts. (1 being not so important, 5 being very important)
1 2 3 4 5
 
 
Please explain your answer (Optional)
   
 
 
Rate the importance of being able to quickly identify whether a position being traded will result in a short term gain to your client. (1 being not so important, 5 being very important)
1 2 3 4 5
 
 
Please explain your answer (Optional)
   
 
 
Rate the importance of being able to swap across mutual fund families. A swap is the ability to sell out of one mutual fund and use the proceeds of the sale to purchase another mutual fund in another fund family. (1 being not so important, 5 being very important)
1 2 3 4 5
 
 
Please explain your answer (Optional)
   
 
Rate the importance of the following transaction types (1 being not so important, 5 being very important)
1 2 3 4 5
Trailing Stops – Equities
Stop Limit – Equities
Short Sales
Block Orders on Equities – Resulting in average price execution
 
Rate the importance of the following trade alerts: (1 being not so important, 5 being very important)
1 2 3 4 5
A trade alert letting you know that an open limit or stop order has resulted in a trade being executed.
A trade alert on trades that were rejected once sent to LPL.
A trade alert on block trades that were not fully allocated. (All shares were not purchased as part of the block order.)
Market Executions - all market orders that executed
 
 
Are there other trade alerts that you would find valuable?
 
Yes
 
No
 
 
Please explain your answer (Optional)
   
 
 
Rate the importance of the ability to set and update stop and limit orders across multiple accounts at one time. For example, set a trailing stop for everyone that holds AAPL at 5%, or update limit order trigger prices for everyone that has an open order on IBM. (1 being not so important, 5 being very important)
1 2 3 4 5
 
 
Please explain your answer (Optional)
   
 
 
Rate the importance of the ability to set global alerts across all accounts. Examples of global alerts could include alerts on holdings that exceed a certain % of portfolio, alerts on known distributions, alerts on pending transfers, alerts on cash positions, etc. (1 being not so important, 5 being very important)
1 2 3 4 5
 
 
Please explain your answer (Optional)
   
 
When performing trading activities, in order to identify the clients or accounts to trade in, what information do you need to identify the client account(s)? (What information do you need to search on?) Rate the importance of searching on the following: (1 being not so important, 5 being very important)
1 2 3 4 5
Name
Account #
Investment Objective
Specific Security Held
Amount of cash in the account ($/%)
Model associated with the account
User Defined Group
Household Group
 
 
Where would you expect to see trading live with respect to your other account management applications? How would you expect to get to trading?
 
Menu item that takes me to trading to search for the accounts I want to trade in
 
Icon in the top navigation bar that takes me to trading to search for accounts I want to trade in
 
From Account Browse or Group Browse in the context of the account or accounts that I have searched on and am viewing
 
Trading should be added right into the account viewing screens in Account Browse
 
Other
 
 
Are there any other trading features or capabilities that you would like to see included as part of a new trading system for Mutual Funds, Equities, ETFs, and Options? Please Explain
   
 
 
If we wanted further clarification on some of your responses, would you be open to us contacting your for additional information? It would only be a 15-30 minute interview to get a better understanding of your needs.
 
Yes
 
No
LPL Financial
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