Comments on the 6/13/17 webinar: I like the concept of developing a commission/payout module. Our firm is a hybrid BD/RIA, and we currently channel our rep’s payout data and submit payments through a separate database system (which is salesforce-based). This allows our reps to receive consolidated brokerage & advisory commissions in one view. Our system also calculates deductions/expenses to the rep that are not “commission” related. But I’m sure there are features within an Orion payout module that would be helpful for our firm. We rely heavily on the Payable Summary Reports & outstanding receivables to track our revenue collection. I’d like some help to develop more payout-related reports which could help us more easily reconcile our Orion bill data to our commission payout data. Right now we have an internal system of exporting and then slice & dice numerous spreadsheets from the payable data, which can be cumbersome. A report to show Posted Payments within a date range, split out by payee (rep vs. RIA) would be great.
I also like the way for reps to view their “pending” bills all within one place. Such as when fees can’t be collected due to insufficient cash or custodial paperwork issues. A single source of follow-up within the Orion system for this, on a rep level, would be tremendously helpful. Our firm currently tracks the outstanding bills manually, and we then follow up with reps one at a time.
Thanks for being so willing to request feedback, it’s much appreciated!
