ViewTrade is the force that powers fintech and cross-border investing for financial services firms throughout the world. We provide the technology, support, and brokerage services that business innovators need to quickly launch or enhance a retail investing experience. Pulse 2.0 interviewed ViewTrade co-founder and President James St. Clair to gain a deeper understanding of the company.
James St. Clair’s Background
Could you tell me more about your background? St. Clair said:
“I’ve been in the financial industry for over 38 years. I started in retail brokerage and then held roles in compliance and operations. I then moved into business development, which is really what led to the opportunity to start ViewTrade.”
Core Products
Tell me more about ViewTrade and the work it does? What are the company’s core products and features? St. Clair explained:
“ViewTrade started out offering brokerage services. It has evolved to blend those brokerage offerings with technology. We consider our offerings the backbone of fintech for companies. We offer a full API (Application Programming Interfaces) suite, client onboarding, order management, market data books and records systems and client facing platforms.”
“The engagement with our clients can be strictly on a technology basis or more involved. Sometimes our clients are only looking for technology to drive their own brokerage, or they may look to us for our brokerage offerings as well. ViewTrade Holding Corporation (“ViewTrade”) is the parent company of ViewTrade Technology Corporation and ViewTrade Securities Inc., each wholly owned subsidiaries of ViewTrade. This structure allows us to deliver technology and brokerage solutions that integrate seamlessly. On the brokerage side we also offer access to US equities, non-US equities and ETFs (Exchange Trade Funds). This allows our clients to deliver global market access to their end investors. Beyond trading, we are expanding into wealth tech and advisory solutions, giving firms everything they need in one place to grow and serve their customers more effectively.”
Formation Of The Company
How did the idea for the company come together? St. Clair shared:
“In the very early years of online training, around 1997, we had a European institutional equity client that built an online portal for their clients to trade, but what they didn’t have was connectivity to the US. With my experience in business development, I saw an opportunity.”
“There were challenges because there was no precedent or pattern that we could follow on connecting a foreign broker dealer to the US. We worked with them for two years and then successfully launched their business.”
“This company became the largest online firm in Belgium and that’s when we realized this was an opportunity.”
“There are global firms that want access to the US and do not have a path to follow. That is when the idea of ViewTrade was launched.”
Favorite Memory
What has been your favorite memory working for the company so far? St. Clair reflected:
“I have made a lot of great memories over the past 26 years, so it is hard to narrow it down. When I am working with an enterprise solution client for 12 to 18 months through all the tech and operational issues to onboard them and we finally launch, it is an amazing feeling. You realize you helped them gain access to the US market. Having that significant of an impact on an organization never gets old.”
Differentiation From The Competition
What differentiates the company from its competition? St. Clair affirmed:
“When you look at our organization, having the entire offering in house is a big differentiator. We’re not reliant on outside vendors to drive our technology. We can be nimble, and flexible with customization when necessary. It’s not a take it or leave it like a lot of our competitors are.”
“Also, our competitors will provide a customer support number or email, but you can’t speak to senior leadership. We go beyond that; our clients have full access to developers and senior management. This allows us to be fully aligned with our clients.”
Challenges Faced
Have you faced any challenges in your sector of work recently? St. Clair acknowledged:
“In addition to a very highly regulated industry in the US, as a global company we must also remain cognizant of the changing regulatory landscape in every country in which we operate. Having a close partnership with the clients we service globally has allowed us to stay on top of these changes as well as make the necessary in-house technology alterations that comply with the ever-changing regulatory terrain.”
“On the technology front it is amazing to witness the exponential growth over the past several years, so the obvious challenge is the daunting task of not only keeping up with this rapid growth but trying to stay one-step ahead of it. Our in-house approach allows us to take on those challenges.”
Evolution Of The Company’s Technology
How has the company’s technology evolved since launching? St. Clair noted:
“Technology is night and day from when we first launched in 1999. Back then, people were still watching movies on VHS tapes, and in our industry, data centers were dominated by these massive 200-pound ‘Sun boxes.’”
“Today everything is saved in the cloud. It is amazing how much technology has evolved and advanced. Now we are in the new age of AI and big changes are going to be coming beyond what we could even imagine.”
“AI can model complex financial scenarios and automate personalized messaging. Generative AI will transform how wealth advisors work, with most advisors expecting AI to revolutionize servicing in the next three years.”
Significant Milestones
What have been some of the company’s most significant milestones? St. Clair cited:
“In the early days we were simply offering access to the US for equity and options, that was our core. We’ve expanded our offerings quite a lot.”
“One big step has been expanding our global footprint. Hiring of employees based in Singapore and the launch of our office in GIFT City, India has allowed us to bring more technical and operational support closer to where many of our clients are based. Later this year, we’ll also be adding our Australian broker-dealer, which will further strengthen our presence in the region.”
“Looking ahead, one of the milestones we’re most excited about is the continued development of our wealth tech capabilities. So, while there have been many milestones along the way, these recent expansions and our move into wealth tech stand out as some of the most significant.”
Customer Success Stories
Can you share any specific customer success stories? St. Clair highlighted:
“An Asian broker dealer had a successful practice in their local markets, but they understood that to become a relevant player they had to offer US access. However, they really didn’t know where to start.”
“We worked very closely with them for a year to help them develop their entire technology that supported their business, and it became a very robust offering. They launched in 2008 and today they’re one of the largest online firms in their country.”
“We’ve seen this play out many times. This is why our client turnover rate is very low. Many of our clients have been with us for decades because of the integration of our technology into their offerings. It has helped them drive their business, which, of course, helps drive our business.”
Funding
When asking St. Clair about the company’s funding details, he revealed:
“We are funded organically, and everything is based on our own cash flow. We’ve not taken any outside funds, which is a testament to the model itself and a focus on running profitably.”
“While many of our competitors are continuously raising money to keep their businesses operational, we’ve been successful not only running, but expanding utilizing our own cash flow.”
Total Addressable Market
What total addressable market (TAM) size is the company pursuing? St. Clair assessed:
“We are a global company with a global footprint. When you think about the total addressable market, it’s beyond what any single company could attain. You’re talking trillions of dollars of investable assets, and it is growing every day. There’s room for many players.”
“I believe if we continue down the path of expanding our offerings and offer both the technology and brokerage intertwined successfully, there’s no telling how big of a slice of that pie we can get.”
Future Company Goals
What are some of the company’s future goals? St. Clair concluded:
“This business is becoming democratized and commoditized on the brokerage side. The competitive forces are driving down revenues on the brokerage side, so we know that we’ve got to expand into other areas.”
“I’m very excited about where we are going on our wealth technology front. There are plenty of underserved markets outside the US and we must present a robust wealth technology offering that’s a culmination of everything we’ve done over the years in a single package to these markets.”
“There also are pre-IPO shares and alternative investments in private markets. We’ve recently launched an alternative investment platform, and I think offerings like this are going to grow ViewTrade in the future.”
