Fees & Invoicing
Automated framework to support the fees management, billing and reconciliation operations in asset and wealth management
Today, transparency is high on the private client agenda and enshrined in the MiFID II regulations. A simple, transparent charging structure and a frank ongoing dialogue about what is being charged, when, how and why is not only required by the regulators, but it is also essential to maintaining client confidence.
Contemi Wealth Intelligence's fee processing module is a flexible and automated framework to support the calculation and charging of any fee type or structure. It provides wealth managers, stockbrokers, asset managers and intermediaries with a viable solution to easily manage the complex sharing of fees and reduce the level of manual processing.
The system is scalable and can easily support new business while simultaneously maintaining all existing and often complex arrangements with clients, advisors and other stakeholders. With the choice of a hosted or deployed setup, the system can be seamlessly integrated with any third party application.
Business Benefits
Mitigate Risks
Avoid the awkward conversation with the regulators, fore fill your MiFID II Cost Disclosure and client reporting requirements
Take 'manual' out of your fees process, and reduce your errors
Improve Efficiency
Improve your P&L by understanding who your most profitable clients are
Create greater efficiency and reduce costs through automation and straight through processing
Improved fee collection, including 'insufficient funds' management
Business Growth
Scalable and flexible – no ceilings to future growth or functional barriers to new business models
Better financial controls by improved revenue and cash flow forecasting
Capabilities
Fee Calculation
Automates the calculation of fees and creates transparency by providing a review process
Fees can be calculated on behalf of third parties (adviser, charges etc...)
Flexible fee calculation methodologies including fixed value, percentage, tiered, and can be offset against commission and safe custody
Allows the application of multiple fees
Different fee components can be constructed into a single fee based on multiple criteria
Accruals
Flexibility in generating accruals over any specified frequency e.g. daily, weekly, monthly or quarterly
Retain existing business and win new customers
Accurately calculated, recorded and reported accruals allow for a better revenues and cash flow forecasting
Interrogation and Transparency
Facilitates MiFID II ex post and ex ante cost disclosure
Comprehensive management information and exception reporting including Fee Calculation, Fee Accrual, Billing, Exclusions, Reconciliation, and Standing Data. Reports can be sliced and diced by Fee Type, Branch, Executive, Third Party, and Client
The fees process is audited at every stage
Invoicing and Collection
The ability to configure the invoicing, reserving and collection of fees in line with your business model
Automates the communication of fees to your client by generating invoices, advices and covering letters.
Flexibility to calculate and accrue fees against one account, but collected against another or splitting against several
Manages the process of 'insufficient funds'
