The recently released CommissionCheck will support the equity pricing practices of over 272 advisory teams across Canaccord’s 31 Canadian Wealth Management offices.
PriceMetrix said that CommissionCheck will instantly shows how an advisor’s proposed commission compares to other commissions at their firm, and across the industry. The solution will reveal a range of comparable commissions, from what popular discount brokerages would charge to what top performing full-service advisors charge.
Canaccord Wealth Management chief operating officer Tanya Bird-McCann said that equipping advisors with the knowledge of how their proposed equity pricing stacks up in the marketplace will enable them to have more transparent conversations with their clients about their pricing and the value they are delivering.
According to the PriceMetrix, the CommissionCheck can operate as a standalone application or can be integrated directly into a firm’s order entry system.
CommissionCheck is powered by a data set of more than 15,000 full service investment advisor books and over 380 million transactions across the retail securities brokerage industry. Transaction data is checked to ensure anonymity and to protect privacy.
