How Does it Work?
The DMS Suite consists of two solutions: DMS Back-Office and DMS Adviser Online that work together seamlessly.
DMS Back-Office is a system for dealer licensee/distributor head-office groups to manage the flow of information and payments from product providers and other sources of revenue. The Back-Office system can accept files in virtually any data format from hundreds of product provider sources and automatically reconciles this information against received payments.
DMS Back-Office manages the information maintenance of all required parties involved in a commission or fee-for-service payment and the business rules that tie all of these parties together, including the product providers and the different characteristics of the products that they distribute. DMS handles payments to the network of financial planning practices and their advisers as well as business referral services and the revenue sharing arrangements that advisers have with these partners.
Using a sophisticated business rule engine, distribution businesses have almost unlimited flexibility for configuring even the most complex revenue sharing arrangements.
DMS Adviser Online gives representatives of the dealer group, be they agents, financial planners, advisers or other intermediaries, extensive online access to the information in the DMS Back-Office system.
Representatives have the ability to view reports on line, or to download reports in data formats ready for further analysis or import into external systems. Practices can use Adviser Online to assist them in managing referral arrangements, track outstanding payments and to manage fee-for-service billing arrangements.
The DMS Suite is fully web-based and can be implemented by new groups in a matter of days or weeks, rather than months. This also means that the DMS Suite is in a process of constant improvement to meet the needs of clients.
