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Revenue Manager: Confidence in Revenue Sharing
Implemented either in-house or through an ASP model, the FUNDLinx Revenue Manager module is a sophisticated software solution that automatically tracks, calculates, invoices, posts and reconciles fees and commissions due you – and any commissions or shared revenue payable to your distribution partners or clients – all with fully integrated accounts receivable and accounts payable functionality. Revenue Manager supports revenue and commission fee calculations and tracking for omnibus accounts and their underlying sub-accounts, as well as for fully disclosed positions at the fund. With Revenue Manager, omnibus account commissions can be easily calculated and paid out to multiple brokers or other types of revenue sharing clients.
Fully integrated with the complete FUNDLinx suite of products, Revenue Manager offers simple set-up of sub-TA, shareholder serving, 12b-1 and finder’s fee agreements. Computations can be as detailed as desired based on every unique contractual relationship you have with your investment management and distribution partners. With Revenue Manager’s Agreement Wizard, you can set up contracts and their respective fee formulas quickly. Easy-to-use drop-down menus, templates and fill-in-the-blank fields simplify the creation of complex revenue sharing agreements.
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Early Redemption Fees: Revenue Manager supports the aging of share lots using LIFO and FIFO methods, even on sub-omnibus accounts, for automated calculation of early redemption fees. For retirement plan service providers, participant level trades can be imported into the system for aging and calculation purposes, while trading continues at either a plan or omnibus level.
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Finder's Fee Calculations: Revenue Manager supports finders fee calculations on eligible trades, including the ability to calculate fees based on a tiered rate structure. Finder's fee calculations tie into 12b-1 trailer fees in which a 12b-1 contract requires the finder's fee-eligible trades to be excluded for a user-defined aging period. The system also tracks and ages CDSC fees in-house without breaking out omnibus accounts, enabling you to negotiate higher sub-TA fees.
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Chiefly compensated test under GLBA: Revenue Manager supports importing of "relationship" fees on trust accounts in order to perform the account level chiefly compensated calculations. The SEC is expected to release the final regulations in 2004 concerning bank trust collection of distribution fees as permitted under the Gramm-Leach-Bliley Act.
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Flexible Account Selections: Revenue Manager offers tremendous flexibility in pinpointing to which accounts apply fee calculations are applied. Selection categories include fund family, share class, CUSIP, user-defined social codes and clients, broker, TPA and firm. Within each category, you can include or exclude specific items, or choose to include all of them.
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