Gains Efficiency, Transparency and Scalability of Complex Commissions Across Business Lines
Faced with a manual commissions process, Northland Securities, both an independent and an institutional broker-dealer, sought a compensation management solution that offered greater efficiency, transparency and flexibility to handle complex commission schedules across multiple business lines.
With a vast range of different business types, the firm’s compensation process increased the risk of errors, delays and unnecessary costs.
Northland Securities uses Sycamore’s Compensation Management to meet the specific compensation processes of different business lines while significantly reducing complexity, staff time, and risk of cost and errors.
Sycamore’s Compensation Management provided complex calculations while increasing efficiency and business continuity with reduced reliance on spreadsheets, as well as gave reps greater transparency into commissions and managers insight into production by state – saving the firm $18,000 in state registration fees.
Sycamore delivers all the data and functionality a retail or institutional advisor firm needs to recruit, manage and pay advisors, meet compliance and audit requirements, and keep advisors connected – all within the Salesforce ecosystem.