As a managing/corporate broker, you will now be receiving a detailed commissions statement package that will include:
- Your managing broker statement* showing all renewal commission, commission transfers from advisors/producers reporting directly to you, and payments made.
(Note: On the managing broker statement, commission transfers will now be displayed as one combined amount per advisor/producer reporting to you. For a breakdown of this amount, simply refer to the individual advisor statements included in your new commission statement package. This change does not impact commissions.)
- Individual advisor statements* displaying the commissionable activity (e.g., First Year Commission, etc.) of each advisor/ producer reporting directly to you.
* Only if compensation activity (debit/credit) occurs during a pay cycle. Credits must be greater than the EFT/Cheque threshold.
New managing broker statement sample:
Published on: September 19, 2022