In November 2018, the Investment News reportedly quoted industry consultant Cerulli report that “IBDs registered a five-year compound annual growth rate in assets of 11%, almost double that of wirehouses.” Following the continuous growth in the independent broker market and a gradual shift in the market to a more regulated and mature ecosystem from the small shady environment, I met with the CEO of one of the fast-growing companies, to ask a range of questions. The interview lasted for about 30 minutes.
Q: Hi David, please tell us a little bit about yourself
A: My name is David Goldberg. I am the co-CEO and founding partner of United Markets Capital (UMC). I am an MBA graduate from Stanford Graduate School of Business, happily married and a father of three children.
Q: What makes UMC different from other online brokers?
A: UMC is outstanding because we have superb technology and offer out-of-the-box customer service. In addition, we adopt a model that allows us to manage our traders on an individual level. We assign each trader a dedicated private account manager independent of the size of the trader’s account.
Q: What is unique about UMC’s technology?
A: Our technology comes with tools for effective and efficient risk management that help traders to secure a better return on investment (ROI). Also, our technology allows for cross-platform data analysis, a feature that enables our traders to choose the best trades. Another unique thing about our technology is that our trading options are always available to traders no matter when and where they are accessing it from (browser or mobile app).
Q: Why is having a dedicated account manager so important?
A: It is important because it helps to create a match between experienced traders and beginners. Dedicated account managers help to manage a traders’ attitude, ensuring they have better control over their invested funds. One other thing worth mentioning is that it makes it easier to manage different traders with different level of knowledge and years of trading experience. That is not all, having a dedicated account manager enables traders to leverage on special opportunities available to only premium accounts.
Q: What are the biggest 5 mistakes of a beginner trader
A: Beginner traders make many wrong decisions because they get their information from wrong sources like news on non-authority websites. Many of them do not acquire enough knowledge before jumping into trading. Due to inexperience, beginner traders usually close their winning and losing trades too early and late respectively. Another common mistake beginners make is that they do not give enough time to monitor the market daily to change plans accordingly; they fail to understand that the market is hectic and need lots of monitoring. Lastly, investment takes time to understand; most of these beginners never invested before, so it is a new adventure to them.
Q: Where do you see this market goes ten (10) years from now?
A: Following the recent trend and predictions from various sources, this market is naturally going to grow more. More people will get involved and invest more money into the market. Because long-term trading is the simplest trading style in the market, companies that will remain in business then will have expanded more than their current value. From history, one can easily understand that bitcoin and other cryptocurrencies are here to stay. They are the future of payments and trading. Looking at a century ago, commodities like Gold and Silver were the means for payments. Today, banks are dominant, but there are problems encountered with the banking system that is warranting the shift to the use of bitcoin and other cryptocurrencies. It is a safe, faster, and cheaper means of payment.
Businesses that use Bitcoin and other cryptocurrencies for payments are increasing, especially as the popularity increases by the day. Renowned companies are beginning to get involved. Ten years from now, one Bitcoin may be equivalent to 100 thousand dollars.
About United Markets Capital (UMC)
United Markets Capital is a registered company founded by a group of experts from diverse online financial services. It offers clients a competitive yet attainable trading/investment conditions while employing a personal approach, human interaction, and the appreciation every investor deserves. The company, which has senior groups of analysts with years of experience in the market, focuses its investment on three main pillars: Economic Development, Financial Empowerment, and Workforce Readiness.