Remuneration statement
This is produced by the platform:
- overnight each Monday for advisers who receive their fees weekly
- towards the end of the month for advisers who receive their fees monthly.
The statement provides an account-level breakdown of the payments which are being made in a few days’ time, showing a variety of information about the payment – the adviser, the customer, the account number, the type of payment, the amount of the payment etc. There is a summary on the final sheet of the spreadsheet showing the total of each type of fee payment being made. The remuneration statement will include any fees which require unit sales that have trade confirmation but have not yet settled.
Remuneration report
This is similar to the remuneration statement but allows you to see a more detailed view of the payments from each account (e.g. the date of the transaction), and where a platform user has the appropriate permission, it can be generated with two different filters:
- Transaction basis (shows all transactions in the date range requested, based on when the transaction occurred, or if it has not completed, the date it was triggered).
- Payment date (shows all payments which have a statement date in the specified range).
If a fee payment has been included in a remuneration statement, the statement ID is shown in the report. If a payment has not yet been included in a statement, it will show with a blank statement ID and the ‘statement date’ will be when the next statement is due. The remuneration report will show the settled trade date for the unit sales.
Paid remuneration report
Unlike the remuneration report, this report only shows payments that have been paid. The most notable difference is that there is no fee summary or client name included in the report, and it shows the payment frequency (weekly or monthly).