Pre-Billing Dashboard

In preparation of the 2019 Q4 Advisory Billing, the Regal Team is continuing the Pre-billing best practice that was introduced for Q3. To provide for greater accuracy some additional “checks and balances” have been put in place, Regal implemented a pre-billing audit process to assist in ensuring the most accurate possible fee billing process. In addition to the internal audits that we now routinely perform, Regal is generating a Pre-billing Dashboard for each advisor to review. This Dashboard shows all your advisory client accounts that Regal bills directly on our advisory custodians.

The Pre-Billing Dashboard includes:

  • Client Account Name
  • Account Number
  • Upcoming Billing Date
  • Current AUM
  • Payment Account (for accounts billed from a separate account)
  • Billing group
  • Billing definitions (Fee Schedule for the account)
  • Amount the account was responsible for in the Q2 2019 billing (includes the aggregate amount billed from other accounts from one payment account)
  • Amount the account was billed in Q3 2019 (To provide an estimate for the upcoming billing, the actual billing will use the actual quarter-end market value)
    • Tamarac generated value based on billing definition, does not include manual adjustments or monthly proration
  • Current cash available for fees
  • Account Investment Strategy
  • Money Manager on the account
  • Custodian
  • Fee Billing Rep Code (to show any split business)

Please pay close attention to:

  • Client billing definitions
  • Payment account details
  • Current cash available for fees — if there will not be enough cash available, please be sure sell orders are placed in advance of the quarterly billing

To ensure all corrections are addressed before the Q4 2019 billing occurs, please respond with any questions or concerns with the Pre-billing Dashboard by Tuesday, September 25th. All responses can be directed to Alex Hossink or Mark Wabeke at billing@regalfin.com. If there are any changes to the fee schedule, please complete a new CIAA and submit as a NA-Advisory work item in COMET.

Your personal Pre-Billing Dashboard will be distributed Tuesday, September 17.

Our intention is to help you provide the best client experience by identifying any billing concerns before client accounts are billed.

Leave a Comment