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Sycamore Company Enhances Advisor Compensation Solution to Address Prevalent Back-Office Process and Data Challenges

Sycamore Company Enhances Advisor Compensation Solution to Address Prevalent Back-Office Process and Data Challenges

May 25, 2021 – Hamburg, NYSycamore Company, an innovative provider of cloud-based financial technology solutions for front to back office broker-dealer and RIA operations, has released several enhancements to its end-to-end advisor compensation management solution to help firms increase the efficiency, accuracy and transparency of paying advisor commissions and fees. The enhancements enable chief operating officers, compensation managers, and other executives to prevent common errors and manual effort through data, analytics and automated steps that also improve connectivity with advisors and multiple operations workflows.

Mike Overdorf, president of Sycamore Company, said: “Paying reps quickly and accurately is a crucial operations function but also one of the biggest challenges independent, bank-owned and hybrid broker-dealers face. Our goal is to make the process smarter, faster and easier starting with the cleanest data possible combined with automatic checks and balances to save time and effort. Our latest enhancements eliminate the need for firms to spend time managing tedious, routine tasks while giving home office users, advisors and management teams the transparency to see where past, present and future payouts stand in real time.”

Sycamore streamlines compensation processing by combining simple to complex compensation scenarios and multiple transaction types with centralized, normalized back-office data, analytics and on-demand reporting to enable firms to ensure accurate and timely advisor payouts. Sycamore’s compensation management enhancements include:

  • A new Commission Health Dashboard providing management with an at-a-glance view of the overall condition of their payout runs
  • Turn-key, configurable analytics using Salesforce’s Tableau CRM (formerly Einstein Analytics) for analyzing breakpoints and connecting commission transactions with compliance, surveillance, advisor supervision, and management workflows
  • Additional calculation tools and reports that capture more detailed calculation and status information, and pinpoint exact transaction errors or other issues that need immediate attention

Several firms have implemented Sycamore’s compensation enhancements including The Leaders Group, Prospera Financial Services, and Premium 72 Capital which went live in less than one month.

Arturo Nicolayevsky, managing director of Premium 72 Capital, said: “Sycamore is helping us to avoid the common missteps and mistakes that are inherent in compensation transactions and processing. Their latest tools and data analytics enhancements are making recurring work easier, faster and more accurate while ensuring we’re maintaining the best possible condition of our data.”

Sycamore’s compensation management solution is a component of the Sycamore integrated broker-dealer operations platform, built on Salesforce, which includes capabilities for advisor recruiting, onboarding and supervision; compliance reporting, surveillance and CRM; as well as data aggregation, analytics and business intelligence.

About Sycamore Company Sycamore Company is a cloud-based, data-driven financial services software company that helps independent broker-dealers and RIAs increase the efficiency of their operations workflows, reduce compliance and regulatory risk, improve client onboarding experiences, and streamline actionable insights. Built on the Salesforce platform and used by operations, compliance and supervising principals, executives, branch managers and advisors, Sycamore combines normalized data with on-demand, configurable workflows to revolutionize processes such as advisor compensation, recruiting and supervision, compliance, surveillance and CRM, as well as data analytics and business intelligence. For more information, visit https://sycamorecompany.com.

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For more information, contact:
Christie Curreri
+1 203-304-1540
christie@currerimarketing.com

Learn more
about Sycamore

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.

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