Fee Discounts
Advisors may want to apply discounts to a fee for an account or household. However, setting up discounts and managing them can be cumbersome and error prone. BARS enables you to define a discount, give it a name that is meaningful, and then once defined, this discount becomes available to all other accounts. You can also add a “reason” or short description, such as, “Your fee has been reduced 10% this quarter by your advisor” that will appear on the statement.
Discounts are defined with a Beginning and End data, so you don’t have to remember to “turn it off”. If you want to set up a discount with the rule: “discount the fee by 10% for the next two quarters”, you just define the beginning & ending dates, and then apply it to the account, and that is it. No remembering to remove flags or settings, with discounts, they just expire.
Discounts can be defined based on a percentage, or a flat dollar amount. The discount will appear on the statement, along with the description/reason of the discount.
Larry Baker
BaySys Technology, LLC
Cell: (925) 984-4869
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