Complete financial management of financial advisors

February 23, 2021. Stefan Willebrand.

The objective of the financial advisor site within Bricknode Broker is that it should be used as a complete financial management system for financial advisors who are tied agents to the financial intermediary who licenses Bricknode Broker. For this article I will call it the Financial Advisor GUI (Graphical User Interface). The goal of this GUI is NOT to offer a place for extensive performance reporting and financial analysis of managed portfolios, this could easily be accomplished by using our extensive API though. Instead it is a fantastic tool for keeping track of the income attributable to the financial advisor (fees) and order placement.

The financial intermediary who licenses Bricknode Broker can create a financial advisory company in the system and then a number of associated financial advisors. The advisory company will have a number of accounts that it owns for each advisor and the advisor will be linked to their accounts. This way the advisory company can keep track of how much fees are earned and owed to each advisor. The advisor can then log on to the Financial Advisor GUI to see how much money they have earned and request withdrawals to their own external bank account or if the advisory company should use the money to pay as salary to the advisor. Either way Bricknode Broker keeps track of the income and the advisor can manage their own cash flow within Bricknode Broker.

The customers will then be linked to their financial advisor who, depending on the permission levels, could place orders for their customers and manage all types of documentation and onboarding.

The chart below demonstrates the best practice setup for this use case.

There is a full guide available here for how to set this up in Bricknode Broker.