Commission management system
First Claim
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1. A non-transitory computer readable medium comprising computer executable code for managing soft dollar commission accounts of a plurality of clients, said computer executable code comprising instructions for:
- providing access to a processor based server to a plurality of client devices by a web interface module of said server over said communications network;
uploading to said server by a client invoice module of said server invoices received from a plurality of investment service providers for investment products/services purchased by said plurality of clients;
notifying a client device associated with a client by said client invoice module to approve an invoice received from an investment service provider for an investment product/service purchased by said client;
processing said invoice by a processor of said server if an approval to pay said invoice was received by said client invoice module from said client; and
pooling soft dollar commissions by said processor from any of a plurality of brokerage firms associated with said client to authorize payment of said invoice received from said investment service provider for said client.
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Abstract
The present invention relates to a commission management system and method for managing soft dollar and commission recapture services over communications network. The system and method pays the invoices from the soft dollar commission account after the client views and approves invoices online.
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Citations
14 Claims
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1. A non-transitory computer readable medium comprising computer executable code for managing soft dollar commission accounts of a plurality of clients, said computer executable code comprising instructions for:
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providing access to a processor based server to a plurality of client devices by a web interface module of said server over said communications network; uploading to said server by a client invoice module of said server invoices received from a plurality of investment service providers for investment products/services purchased by said plurality of clients; notifying a client device associated with a client by said client invoice module to approve an invoice received from an investment service provider for an investment product/service purchased by said client; processing said invoice by a processor of said server if an approval to pay said invoice was received by said client invoice module from said client; and pooling soft dollar commissions by said processor from any of a plurality of brokerage firms associated with said client to authorize payment of said invoice received from said investment service provider for said client. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A computer server for managing soft dollar commission accounts of a plurality of clients over a communications network, comprising:
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said server configured to display a web interface module to provide access to said server from a plurality of client devices over said communications network, each client device being associated with a client; said server configured to display a client invoice module to; upload to said server invoices received from said plurality of investment service providers for investment products/services purchased by said plurality of clients; and notify said client device associated with said client to approve an invoice received from an investment service provider for an investment product/service purchased by said; and a processor associated with said server to; process said invoices received by said client invoice module from said plurality of investment service providers if an approval to pay said invoice was received by said client invoice module from said client; and pool soft dollar commissions from any of a plurality of brokerage firms associated with said client to authorize payment of said invoice received from said investment service provider for said client. - View Dependent Claims (9, 10, 11, 12, 13, 14)
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Specification