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AdvisorBOB’s custodian feature was built to assist registered investment advisories with calculating account fees for clients whose assets are with a third-party custodian. The “Custodian Tab” has three sub tabs that include “Accounts”, “Account Groups”, and “Fee Schedules”.

Custodian Tab / Sub Tabs

The “Accounts” tab feature stores all client account information and fee data. Administrators have the option to create individual accounts or mass upload through an excel template. The accounts tab stores and displays within a table the account name, account class, account number, associated firm, associated rep ID, custodian name, associated group, advanced or arrears billing, and the funded date of the account.

Creating a new custodian account

The “Account Groups” tab is where individual account numbers are added to “groups”. The “group” of accounts is then associated with a fee schedule to bill off. Within the account groups tab, administrators select the appropriate custodian for corresponding accounts within the group, select the appropriate fee schedule to bill the accounts on, and select if billing is done in advance or arrears.

Existing account group

Within the edit a group page, a table of account numbers and account names that are associated with the group is provided. Administrators can simply click the hyperlinked account number to view all individual account information.

View of account information from hyperlinked account number

The “Fee Schedule” tab is where administrators can create new fee tiers for account groups to be associated with. AdvisorBOB has the capability to apply householding – flat fee billing, householding – tiered billing, and no householding to any account fee schedule. Within the fee schedule tab, administrators can create minimum and maximum dollar ranges for certain fees to be applied.

Creating a fee schedule with Householding – tiered billing applied

To learn more about our custodian tab or any other AdvisorBOB feature, please do not hesitate to contact me at colton@advisorbob.com

Colton Pence
Colton Pence