One-Stop-Shop Compensation Software for Registered Investment Advisors
AdvisorBOB provides advisors with a one-stop-shop compensation portal with line item-level detail on all their revenue streams. Advisors can avoid advisory fee billing frustrations and focus on their clients with our transparent and accessible advisor compensation software.
Advisor Compensation Software
AdvisorBOB is a one-stop-shop online compensation portal for RIAs and their advisors. Administrators have access to the following features, functionalities, and much more.
- Advisor payout percentages at the firm and class level
- Unlimited advisor rep IDs & split rep IDs
- Admin fees at the advisor, class, and rep ID level
- Manager overrides at the advisor and rep ID level
- Custodial data aggregation
- Custodial billing – flat fee billing, household billing, tiered householding billing
- Adjustments – debits and credits
- Custom audit feature
- Compensation reporting
- Profitability reporting
Custodial Billing
Do your advisors utilize an off-platform custodian or third-party money manager? AdvisorBOB provides RIA custodial data aggregation in one location. Administrators can create households, custom fee schedules, and account groups within our custodian tab. Administrators can also calculate client fees or simply pass through the fees from the respective custodians.
Account groups can utilize our custom household billing on a flat or tiered schedule. Advisors can review all account information and ensure the household data and fees appear correct.
Adjustments
Alleviate the pain of RIA compensation adjustments with AdvisorBOB’s adjustments feature. This application allows RIAs to:
- Create one-time, monthly, quarterly, semi-annual, and annual debits or credits per a specific rep ID
- View and edit previous expenses
- Set expenses to “active” or “inactive”
The advisor will have their adjustments or expenses displayed within their fee details, along with a description of the adjustment. Advisors can view a custom adjustment report that can be sorted by any month, quarter, or year.
Reporting
AdvisorBOB offers numerous reports for administrators and advisors. All reports are exportable to Excel. Some of the reports we offer are as follows:
- Adjustments
- Advisory Fees
- Financial Plans
- Net Payout by Advisor
- Levelized Payout by Advisor
- Year–over–Year Production
- Advisor AUM
- Totals by Paycle
- Override Profitability
Financial Plans
Administrators can keep records of each plan payment and store plan information as part of this all-in-one payment software. The ability to customize a payout percentage for Financial Plans and collect a percentage of the fee for credit card processing will alleviate the stress of keeping track of money coming into your RIA and ensure it is paid out correctly.
Fee Details
AdvisorBOB offers line-by-line level detail displaying items that affect the RIA and advisor’s compensation. Fee details provide items such as:
- Vendor
- Account Number
- Gross Fee
- Adjusted Fee
- Advisor Split Rep IDs
- Admin Fees
- Program Fees
- Net Payouts
- And More!
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.
BOBValue
The BOBValue allows advisors to access their book of business valuation, right in their AdvisorBOB account upon login. AdvisorBOB provides advisors with an accurate, real-time valuation based on client information and monthly compensation metrics. Now with BOBValue accessing an advisor’s book of business valuation is quick, easy, and accurate.
Advisory Fee Billing and Compensation Software for RIAs
Tracking advisory fee billing and compensation in spreadsheets wastes your firm’s time and opens you up for costly mistakes and security breaches. Plus, inefficient processes prevent your RIA’s growth. With AdvisorBOB, your administrators and advisors get a streamlined, transparent view into fees, compensation, and reports. Schedule a demo today to witness how our software can simplify your firm’s operations and support your growth.
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