What is DMS?
DMS provides numerous features that allow distribution groups to:
- Process and reconcile commission and fee-for-service payments from hundreds of different providers,
- Produce invoices and process payments for fee-for-service billing,
- Provide detailed reporting to representatives (advisers),
- Track actual against expected payments & find missed payments,
- Produce detailed management reports for tracking funds under management, growth and product usage.
Advisers and practice owners are seeking detailed information to help them manage business growth and the DMS Suite delivers this through an easy-to-use and comprehensive online system. Management information such as total funds under advice, adviser productivity, client profitability and growth by nearly any business metric is available on demand.
Given the challenges with moving from trail and upfront commissions to a fee-for-service module allows advisers to freely mix and match commissions to be rebated to clients. This module fully automates the generation of client invoices and even provides a collection service, allowing clients to pay using credit card or direct debit.
