First Rate Enhances Fee Manager Cloud-Based Billing System for Wealth Managers

Fee Manager enables broker-dealers and RIAs to seamlessly move to an advisory model while providing critical business intelligence on revenue and risk

Arlington, TX – May 1, 2018 – First Rate, a leading provider of wealth management solutions to the financial services marketplace, today announced enhancements to its cloud-based fee billing solution, Fee Manager. This billing solution streamlines an operational imperative to your firm with smarter technology that provides analytics, advisor insights, security, accuracy, and reliability.

In an investor-driven market led by growing expectations of wealth stewardship, it has become a strategic imperative to provide a transparent advisory model that is consistently managed and monitored. Investors want to work with advisors they can trust, and the younger generations feel empowered to ask questions about the charges on their bill. No matter if or how DOL and SEC regulations continue to be enforced or broadcasted, market demand for transparency will continue.

“Fee Manager provides accuracy, process standards, and repeatability of the fee administration process.  As more and more advisors move towards recurring-fee-for-advice models, the ability to accurately and securely scale will get further tested.  These days, scaling ability is a basic requirement for a firm and provider. Every day a firm or regulator is in the news because of their fee policies and procedures. The advisor and firm analytics layer within Fee Manager is the real added value to monitor fee rates globally, compare advisors, and have a better sense as to the health of your firm or practice,” said First Rate General Manager Patrick Flaherty.

Fee Manager enables broker-dealers and RIAs to seamlessly move to an advisory model while providing critical business intelligence on revenue and risk.  It is a scalable and customizable solution that provides multi-access user levels in both front-office and back-office views. As your firm grows and more competitors adopt advanced billing technologies, First Rate Fee Manager gives you the smarter billing advantage.

  • Intelligently analyze revenue: Fee Manager provides quick and easy access to client billing information, security, and accessibility through cloud installation, zero client hardware footprint, structured billing flexibility, and improved speed of revenue recognition.
  • Scalable billing solution: Agile and dynamic fee management makes figures meaningful, sheds light on advisor performance, and uncovers service trends by using your client-defined calculation methodologies. This enables you to forecast growth and analyze fee patterns on big-picture and granular levels. Flexible parameters and filters allow fee viewing based on your business rules and reporting needs.
  • Billing complexities solved: Move from a time-consuming, error-prone manual process requiring multiple tools to an automated one that easily handles complex fee calculations, invoicing, and management analytics to derive insights on firm profitability.
  • Security intricacies defined: Hosting on a SOC2 certified platform secures your database and client information with industry-based AES 256-encryption over SSL, automatic backups, session time-outs, and user activity audit trails.

“First Rate provides the scale, security, and processes to support RIA and Broker-Dealer business innovation and growth.”

Contact First Rate today for more information on First Rate’s newest fee billing solution, Fee Manager.


About First Rate

First Rate exists to help wealth management companies grow and thrive as stewards of their clients’ investments. Our reporting solutions help financial firms create absolute transparency while empowering investors to simplify and better understand their financial world.

Through First Rate’s holistic view of engagement, we deliver adaptable and tailored solutions that sustain long-term relationships. With a proven track record – including more than 25 years of experience – our relentless focus on meeting the diverse needs of our partners is unmatched in the industry.

We design the best technologies and foster superior client relationships, enabling our partners to prosper by providing similar successful – and enduring – relationships to investors. First Rate gives financial firms peace of mind by delivering consistent, accurate results that are designed to address the specific needs of their business – and their investors.

Follow us: @FirstRatePerf

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