Albridge Solutions Inc., which provides enterprise data management (EDM), portfolio accounting and performance reporting applications, has added a fee billing component to its platform.
It aims to provide financial advisers with automated fee billing across all accounts within a single household, regardless of where the account assets are held in custody.
The application, which is called Albridge Fee Billing, aims to enable a financial adviser to create and manage a complex fee structure, including support for standard fee components (e.g. flat fees, rate-based fees and discounts), arrears or advanced billing capabilities, and billing for partial periods.
In addition, enterprise controls aim to allow financial institutions and registered investment advisors to implement mandatory fee structures and report on billing activity.
The fee billing application is integrated into Albridge Wealth Reporting, enabling financial institutions and RIAs to leverage Albridge’s data consolidation technology and access a single platform for portfolio accounting and performance reporting, as well as fee billing.
“The integration of Albridge Fee Billing into our enterprise data management and portfolio accounting technology allows advisors to manage their fee-based business without the constraints inherent in custody and clearing platforms,” says Rob Gregov, vice president, Advisory Solutions, Albridge. “Now, our clients have an unparalleled level of flexibility in creating and managing complex fee billing models, resulting in an opportunity to gather assets that is limited only by the depth of their relationships with their clients.”