ADP Brokerage Services Group (ADP) has launched a fee management system designed to handle complex fee arrangements and increase operational efficiency.
ADP’s Fee Management System allows users to update fee schedules, set minimums and maximums, prorate fees over multiple accounts and apply discounts. The system is also designed to calculate complex fee arrangements including managed account fees, administrative, custody and trustee fees. Fees can be processed monthly, quarterly, annually and semi-annually. In addition, an audit trail monitors all fee calculations and facilitates easier record-retrieval.
“We are committed to providing the best end-to-end solution for back office processing as evidenced by the addition of the Fee Management System to our suite of products,” says Marianne Brown, Senior Vice President and General Manager of ADP Brokerage Processing Services. “The system automates the fee calculation process and allows our clients to focus on their core competencies and growing their business.”
ADP’s Brokerage Processing Service supports the processing of North American equities, options, mutual funds and fixed-income securities. BPS handles everything from order management to clearance and settlement, regulatory reporting and other back office requirements.