Cofunds has revamped its suite of commission reporting, recognising that the reconciliation process was unnecessarily complex for advisers, especially in the case of initial commissions.
Having spoken with customers and undertaken a review of its current process, Cofunds said that all of the current reports produced have been brought together in a single weekly report covering both initial and trail commissions from all sources. This is available to advisers in an electronic format allowing them to interrogate the information and integrate it into their records. The changes mean that intermediaries will now be able to easily reconcile initial commission payments as, for the first time, initial commission will be included in the commission feeds, saving a great amount of ...
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