Solutions

Solo Adviser

You are the business. Get a 360° view of your commission and fees over any time period, per provider, client, product and more.

Get a view on missing income and VAT mistakes, and take your client segmentation to the next level. Manage referral fees, sharing arrangements, payouts and succession planning. An automated revenue tracking system reduces the tension of unknowns. With in-depth client/family group segmentation, you can spot missing commission and revenue, and you can forecast and leverage opportunities to the fullest. Built-in compliance check points ensure business is compliant before issuing.

SME

As an advisory business grows beyond you and your personal capacity to serve clients, Commspace grows seamlessly with you.

A successful advisory business will eventually expand beyond your personal capacity to advise clients. You therefore need to prepare for easy onboarding of multiple advisers and potentially, multiple partners in the future. The focus here is on scalability, as you grow from one to many advisers, and handle the challenges that come with that. An automated commission and revenue tracking system eliminates the stress of unknowns. Rules-based commission sharing agreements between multiple advisers, which can easily be changed as needed, ensure your remuneration models are fair and accurate. Revenue business intelligence and analytics provide valuable insights to help you grow your business.

Enterprises

From a single office with a few advisers, to a national group with teams around the country, the Commspace platform was built with distributed operation and central control in mind.

Get online, real-time access to your data via rich, integrated analytics or branded, customised reports that cover your fees and commissions from every angle, whether across teams for group managers, or within teams for office managers.

The benefits for big and small businesses

Solo Adviser

SME

Enterprises

360° view of revenue

Income-based client segmentation

Succession planning

CRM Integration

Compliance Read More

Practices can choose to enable a compliance feature which tracks compliance status. When this feature is enabled, allocation is blocked for non-compliant items, i.e. they can only be allocated (and paid out) when compliance is obtained.

Reporting Read More

Commspace has a robust, fully customisable reporting engine. It can be customised to output any combination of the data in the system. Once a desired combination of fields and filters are found, these can be saved into a report template for easy future access. Reports can be generated in Excel (XLS), CSV or PDF formats. The Excel format is particularly powerful because it allows for the population of customised and branded Excel templates that can, for instance, include pivot tables and embedded charts.

Access Security Read More

Our secure cloud-based platform ensures that your data is safe. Commspace has a multi-dimensional access control system. Along one dimension it restricts which practices (or parts of a practice) a user has access to. Practices in Commspace are arranged in a hierarchy that comprises two levels: company and office. A user can be granted access at the company or office level. The second dimension restricts which features of the system a user has access to. The feature list includes Analytics, Auditing, Client Management, Commission Management, Office Management, Reporting, etc. Finally, read or write access to features can be restricted. A user can either merely view data of a feature, or have editor access.

Manage complex split structure Read More

- Standard splits
- Per product or commission group
- Fixed amount
- Sliding scales

Motivate your advisory team with the tracking of revenue goals

Monitor your client retention rate

Identify the potential risks in your existing revenue streams

Measure the effectiveness and sustainability of your revenue streams

Easily track intra-company transfers

Simplify compensation structuring and management

Integration to enterprise systems

Service offerings

Choose between our Self Service and Managed Service offerings. Seamlessly switch between the two if needed.

Self Service Option

Managed Onboarding
Project-managed onboarding by specialised business analysts ensures a smooth start

Easy Access
Web-based, cloud-hosted access, anytime from anywhere and from any device

Automatic Data Ingestion
All provider commission statement file mappings are maintained by us. This allows commission data to flow automatically into the system in three ways:

Direct provider data feeds
Provider commission statements emailed to a dedicated client inbox
Provider commission statements uploaded via the web interface

Automatic Data Classification
Revenue information is automatically classified into predetermined categories based on industry best practice (i.e. product categories, commission types, etc.)

Powerful Allocation

Flexible, rules-based approach to allocating/splitting commission
Multiple remuneration models, e.g. fixed percentage, fixed fee, sliding scale based, goal based, etc.
Allocation to various parties, e.g. advisers, employees, external referrers, etc.
Date-based allocation rules allow changes to be scheduled ahead of time
Easily perform bulk changes whilst still keeping track of historical data

Reporting

Out-the-box, predefined reports cover the most common reporting needs
An easy-to-use, integrated report builder allows custom report creation without vendor assistance
Reports are styled to incorporate your company’s branding and logo
Bespoke Excel reports can be saved as templates and generated on demand

Visual Analytics
Integrated, interactive visual analytics allow users to easily analyse trends, spot unusual spikes and discover exceptions in their revenue data

Problem Discovery
Easily discover problems such as missing or incorrect income and provider VAT mistakes

Access Control
Role-based access control allows read/write access to specific functions

Audit Trail

Full audit trails are maintained of all record-modifying actions
Records are fingerprinted with created/updated timestamps
All recent actions are viewable in context in the web interface

Security & Backups

Multiple layers of physical, biometric and software-based security protocols and encryption
Regular external security audits
Daily database backups

User Support

User support is offered via live-chat style, in-app conversations as well as email and telephone
One-on-one remote screen sharing sessions are also available

Training
Regular live online training events are published on and booked directly via the app

Integration

Integrated with leading market-specific CRMs such as @work, Elite Wealth, Workpool and FSPHub
A well-documented API allows for third party integrations
Cloud-based integration adapters, such as Zapier, are in the works

Managed Service Option

Data Capturing
Source commission statements from providers and import into Commspace

Bank Recon
Identify and reconcile commission payments from your bank statement

Allocation Rule Management
Ensure all policies are linked to an adviser through a split agreement, e.g. 100% to adviser or split between a number of parties

New Business Management
New products (policies/investment accounts/etc.) not yet captured in Commspace identified and sent to brokerage for completion of necessary information

Problem Discovery
VAT and data integrity checks

Reporting
Configure, generate and deliver regular and ad-hoc reports to meet specific needs of the brokerage

Holistic Account Management
Dedicated account manager dealing with all queries and change requests

“I will never run this business without Commspace”

Johan van Wyk from Origin Financial sees Commspace as a great Portfolio Management Tool over and above all the other benefits it can provide.

“We have got amazing data – thanks to Commspace”

Ricardo Teixeira from BDO Wealth Advisers talks about the value that Commspace has added to their business.