Help Center

Advisor Commission Plans

* Page referenced in this article: advisors commission plans page.

With LeadCenter, you can track advisor commissions and advisor commission payments. By creating an advisor commission plan, the system will automatically calculate the advisor's commission on each financial account.

Production Tracking -> Company Fees -> Fees Payments -> Advisor Commission -> Advisor Commission Payment -> Advanced Reporting and Visualization

Below are the key features of the advisors' commission tracking system:

• Multiple plans: you can create different commission plans for different types of employees. For example, you can create:
  • Owners' plan
  • Writing advisor plan
  • Servicing advisor plan
  • etc.
• Plans for different years: you can create different commission plans with different commissions for each year.
• Plan ranges: For each plan, you can create a different commission range based on advisor production level. Check below for more details about ranges.
• Linked to company fees and commissions: LeadCenter will automatically calculate AUM fees based on the the total accounts' value of the household. It will also automatically calculate annuity commissions for the company. Advisor commission will be calculated based on the combined fees and commission the company made*.
• Advanced commission reporting: LeadCenter comes with number of reports that cover commission. Check below for the list of reports available.

Plan ranges

LeadCenter supports an advanced commission plan ranges system. Plan ranges can be used to incentivize your advisors to sell more by attaining higher commissions on higher production. For example, you can create a plan range for writing advisors like the following:

Advisor commission ranges are not cumulative. Meaning the advisor will earn the commission range only for the production range. Using the example above, if the advisor achieves $35 million in production, he will earn:

• 20% commission on the company fees of $30 million production. Assuming the company fees is an average of %1:
$30M x 1% company fees x 20% advisor commission = $60,000
• 35% commission on the company fees of $5 million production.
$5M X 1% company fees X 35% advisor Commission = $17,500 Total advisor commission = $60,000 + $17,500 = $77,500

Commission reports

LeadCenter has built-in reports to track commissions. Here is a list of the reports available:

• Advisor Production and Commission Report: details the performance of an individual advisor, including their total production, commission amounts, and the count of first appointments. It provides a comprehensive view of the advisor's contributions and earnings. This report is only accessible by the advisor.
• Comprehensive commission report: a detailed overview of account transactions, including advisor commission splits, payment amounts, and bank deposits. It summarizes advisor commissions, provides insights into total amounts paid, and tracks payment dates for both advisor commissions and bank receipts.
• Estimated Company Commission Report: the projected commission for each account based on the product fee and amount issued. It also includes details on advisor names, bank payments, and the last received date.
• Advisor Commission Payments: Calculates advisor commission payments based on successful client amounts issued and payment dates.

How to add advisor commission plans?

1. Create an advisor commission plan.
2. Add ranges to plan by clicking on Ranges button in the plan page.
3. add advisors by clicking on Advisors button.

Tip: You can override an advisor commission plan by going into an account, clicking on the Actions menu of an advisor, and selecting Override advisor commission.