RMS is used by AFSLs and imports the Brokerage paid to the Group and their advisers by the various Fund managers.

RMS breaks down this income from the fund manager applies splits and fees with the end brokerage result that is paid to the adviser. It also provides this information in the form of an RCTI produced from the software in PDF and CSV form. The RCTIs can be imported into other brokerage tracking software or other financial planning software for the advisers to keep track of their income.

RMS also has a built-in customizable report generator, called Report Builder, which can create many varied reports extracting the information as requested by the user.

We assist in designing schemes to read the statements from the fund managers picking out specific data Eg: Acc Numbers, Client names, Brokerage types, into a format readable by the software, giving the software flexibility to import various types of statements, inc XLS. XLSX, CSV, & TXT, unfortunately PDF’s cannot be imported. but we can import information that does not come in a spreadsheet, by making a manual statement so the data can be imported.

Navigating the main window

The feature of the main window are highlighted below:

 

 

Steps to process distributions

 

 

1.   Import Statement

2.   Verify the amount imported matches the bank

3.   Allocate the accounts / policies

4.   Select the statements you wish to Distribute

5.   Set the date period for the distribution

6.   Click Proceed to complete the distribution

 

Control Panel

Tiered Splits

Tiered Splits are uses when you want to vary the licensee split according to how much business the Client writes.  They are used in the same place in the distribution process but the amount of money that is passed to the Client varies according to the amount of business the Client has written.
To use Tiered Splits we must create the split first then apply it to the Clients that it is relevant to

How to Create a Tiered Split

Log into RMS and go to Control Panel -> Tiered Splits and click on Add
Group Tiered – Give the Tiered Split a name that you will know what it is in  other areas of the software.  For example if it relates to one adviser only you might call it BobSmith Tiered Split.  If it relates to all advisers in their first year you might call it First Year Tiered Split.

RMS Opening Screen

This article is to give you a tour of the Platformplus RMS  home page.

Displays important information about your license and the version of RMS that you are currently running. The version is listed as – v and then the version that you are running. In this case I can see that I have a Network license and the version that I am running is 1.03i.
You can check if you have the latest version of RMS clicking on the “Click to check for Update” hyperlink below the license and version. Doing this will redirect you to a webpage where you can the latest version.

The financial year selector. It has two function:

• a. It tells us the financial year that each month button below relates to. In the example above the Orange Sep button is September 2019 because the 2019/2020 time frame is selected. If I click on the left or right arrow of the financial year selector I can change the financial year.
• b. Reporting is determined by and limited to the financial year that is selected (with the exception of the Dropped off Report)The month buttons. Here we have one button for each month of the financial year selected above. Like the financial year selector the month buttons have 2 functions.
  • (a) They import data/revenue into RMS by left clicking on the month that you want to import information into.
  • (b) They also provide reporting capabilities by right clicking on the month.
    Log Out/Quit. This is the button that we select to log out of RMS. As part of the log out process we can also back up our data base.

Control Panel. This is where we control most of the global settings in RMS
Tiered Split – this is where we set up a default licensee split that changes as the Client in RMS increases the business that they write.
Split Presets – this is where we set up relationships between 2 or more clients in RMS to share in the income of one (or many) account(s).
Paym. Presets – this is where we set up the deductions (Licensee fees, PI fees etc)..
Distrib. Presets– In here we can over ride the default licensee split for one or many accounts.
Client Managers – In here we can tell RMS who is able to log into the software. In larger licensees we are able to set up State Managers so that we can report on the Clients in RMS that they look after.
Categories – This relates to reporting in RMS. We can set up the Categories as we wish so that we can report on for example how much of our business was Insurance or Super.
Options – This is where most of the settings for RMS are.
Clients – In here we can add new Clients to RMS and start the distribution process to pay the Clients.
Unallocated Accounts – If there is new business (accounts that have arrived for the first time) after importing a file into RMS the text on the Unallocated Accounts button will turn from black to red. In here we can allocate the account to a Client or an Income Split arrangement.
Reports – Basic Report and Report Builder, all the reporting functionality that you could need.

How to set up the email functionality in Platformplus RMS.

Before we start we will need the SMTP server details. If you don’t know what yours in you can either contact your network administrator or you may be able to get it from the email account details in your current email client.

Firstly log and go to Control Panel -> Options -> Email. There are three tabs.