As an adviser, how will electronic commission help my business?
For intermediaries only21 January 2020
Any adviser firm receiving commission for our non-platform products needs to make sure the right payments are matched to the appropriate clients. Electronic commission gives you the opportunity to automate the commission reconciliation process. Platform products will take fees rather than commission, which can also be electronically reconciled with our fee data to some back offices.
Electronic commission statements are:
- available in a file format that's right for you and your back office;
- built to industry standards defined by Origo;
- available at the same frequency as your current statements, and
- in addition we can leave paper statements on or switch them off – you decide.
A robust service
We've been delivering electronic commission to advisers since 1993 and currently provide electronic commission to a large number of adviser firms.
You should start by discussing your needs with your back office software supplier. You and your back office supplier then need to complete the appropriate documentation from your software supplier to enable your electronic commission messages.