Preliminary Investor Account Billing Calculations aka Forecast Billing Reports - one per associated rep code
This report is generated approximately two weeks (ten business days) prior to the end of every quarter in preparation for quarterly advisory billing. This report's objective is for you to review all of your applicable rep codes, accounts, fee schedules and get a close approximation of quarterly gross fees before splits, expenses and adjustments and allows you time to make updates with Advisory Services. It also provides you with an Insufficient Funds tab which reflects any accounts that would reject for insufficient funds if we were to debit that day. This information allows you adequate time to move cash or make cash raising trades, if necessary, in advance of our attempt to collect the fees. The Forecast report is a snapshot of that moment in time and reflects the account values as of the date they are run. This report is regenerated, and overwritten, on the first business day of the quarter for an additional, and more accurate view, of what will be billed. It is important to note that final billing numbers may vary from the final Forecast reports based on Orion reconciliations in the interim. Also note that any forecast does not include Other Advisory Services or any applicable expenses.
This report is the best way to estimate the Advisory Fee portion your gross pay and the applicable Managed Account Charges. If you have an applicable split code or override, you will need to account for those if attempting to estimate your quarterly Advisory Fee revenue. If you would like more information, please reach out to Client Compensation or your Relationship Manager for assistance. We have a generic template we can provide you with to help you.
Please get your changes and updates to Advisory Services before the quarter ends to allow them plenty of time to make the adjustments in time for the final forecast report.