First Rate Enhances Fee Manager Cloud-Based Billing System for Wealth Managers

Fee Manager enables broker-dealers and RIAs to seamlessly move to an advisory model while providing critical business intelligence on revenue and risk

ARLINGTON,Texas (PRWEB) May 08, 2018

In an investor-driven market led by growing expectations of wealth stewardship, it has become a strategic imperative to provide a transparent advisory model that is consistently managed and monitored. Investors want to work with advisors they can trust, and the younger generations feel empowered to ask questions about the charges on their bill. No matter if or how DOL and SEC regulations continue to be enforced or broadcasted, market demand for transparency will continue.

“Fee Manager provides accuracy, process standards, and repeatability of the fee administration process. As more and more advisors move towards recurring-fee-for-advice models, the ability to accurately and securely scale will get further tested," said First Rate General Manager Patrick Flaherty. "These days, scaling ability is a basic requirement for a firm and provider. Every day a firm or regulator is in the news because of their fee policies and procedures. The advisor and firm analytics layer within Fee Manager is the real added value to monitor fee rates globally, compare advisors, and have a better sense as to the health of your firm or practice."

Fee Manager enables broker-dealers and RIAs to seamlessly move to an advisory model while providing critical business intelligence on revenue and risk. It is a scalable and customizable solution that provides multi-access user levels in both front-office and back-office views. As your firm grows and more competitors adopt advanced billing technologies, First Rate Fee Manager gives you the smarter billing advantage.

• Intelligently analyze revenue: Fee Manager provides quick and easy access to client billing information, security, and accessibility through cloud installation, zero client hardware footprint, structured billing flexibility, and improved speed of revenue recognition.
• Scalable billing solution: Agile and dynamic fee management makes figures meaningful, sheds light on advisor performance, and uncovers service trends by using your client-defined calculation methodologies. This enables you to forecast growth and analyze fee patterns on big-picture and granular levels. Flexible parameters and filters allow fee viewing based on your business rules and reporting needs.
• Billing complexities solved: Move from a time-consuming, error-prone manual process requiring multiple tools to an automated one that easily handles complex fee calculations, invoicing, and management analytics to derive insights on firm profitability.
• Security intricacies defined: Hosting on a SOC2 certified platform secures your database and client information with industry-based AES 256-encryption over SSL, automatic backups, session time-outs, and user activity audit trails.

“First Rate provides the scale, security, and processes to support RIA and Broker-Dealer business innovation and growth," adds Flaherty.

Contact First Rate today for more information on First Rate’s newest fee billing solution, Fee Manager.

For the original version on PRWeb visit: http://www.prweb.com/releases/2018/05/prweb15469126.htm