Late in 2023, the Securities and Exchange Commission announced the examination targets their investigators will be zeroing in on in 2024. Among other things, advisor compensation was listed as a specific area of focus for the SEC.

The SEC will assess “alternative ways that advisers try to maximize revenue, such as revenue earned on clients’ bank deposit sweep programs; and fee breakpoint calculation processes, particularly when fee billing systems are not automated,” the priorities state.

There has never been a better time to explore automating and streamlining advisor compensation. AdvisorBOB eliminates the risks and mistakes of time consuming manual spreadsheet tracking, providing peace of mind and security.

AdvisorBOB also creates detailed and easily accessible financial plans, ensuring that all data is tracked and can be quickly produced for any reason. We also offer line-by-line level detail, displaying any item that affects the RIA and advisor’s compensation.

Fee details provide items such as:

AdvisorBOB is the only financial planning software for advisors that aggregates commissions from any number of vendors into one table that can then be sorted to view all items paid to an advisor in any month, quarter, or year.