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Software helps IFAs cope with commission changes

Electronic commission specialist CBoxx has launched its Business Profiler software, the first of a four-step approach to handling all elements of commission and fee income for big IFAs.

It is also rolling out an income-forecasting package to allow advisers to check the remuneration they expect to receive against actual payments.

CBoxx believes its software will help IFAs model the financial impact of changes in the commission regime to produce the cost of advice menu outlined in the FSA&#39s CP166.

Managing director Mick Catherall says the changes initially discussed in CP166 will materially affect the way that IFAs earn revenue and it is imperative that IFAs plan for these changes in advance.

He says Business Profiler provides a tool for IFAs who are serious about business planning. It enables them to identify key information concerning their sources of business and income.

Catherall says: “There is no point in knowing where you want to go to or what impact changes like CP166 will have unless you know where you are now.

“Understanding where your income comes from, how it is generated and by who provides the rock-solid foundation needed to plan.”

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