Silver’s Fee Billing solutions help firms to streamline their billing processes, guard against potential fee leakage, and reduce operational risks by employing a fully customizable billing platform available as an in house or cloud based solution.
Create multi-tier fee schedules that work for your business. Assign fee schedules at the firm or product level, or down to the advisor, group, and individual account levels for “exception to the rule” clients. Create fee splits for advisors that share accounts.
Take advantage of integrations with multiple custodians and data aggregation providers to seamlessly update portfolio and relationship data, as well as the digital transmission of debit files. All billing data is also made available through multiple extracts as well as a fully formed Restful API.
Take advantage of easy to use exception reporting and remediation tools to identify and fix reconciliation issues leading to potential fee leakage. View audit trail reports identifying updates made by operators and data interfaces.
Case Study – RIA
Silver’s Fee Billing solution helped an RIA firm with more than 500 advisors move from a manually intensive and error prone, outsourced billing process, managed with spreadsheets to a fully automated and integrated cloud-based solution. This enabled the firm to move away from maintaining fee schedules at the individual account level, and allowed them to set up UMA sleeve default schedules with account overrides. This resulted in a dramatic reduction in the number of fee schedules, reducing errors and risk while alleviating operational strain. Silver’s Fee Billing implementation automated the valuation of assets and creation of account groups through an automated data interface with one of the largest custodians servicing independent RIAs including debit file integration.
More about our other Solutions
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