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The New Sales Tracking and Reporting System (NSTARS) is a comprehensive solution for managing financial consultant compensation in a brokerage environment.
- NSTARS runs on an MS2000/NT platform with MS SQL server
- Allows both NSTARS client and browser access
- Supports institutional, retail and combined operations
- Provides API interfaces to trade, bookkeeping, asset and third party files such as McLagan
Syprocon developed the first release of NSTARS in 1996. It was designed to handle payouts for both retail and institutional accounts, making it the most complete producers’ compensation and sales tracking system in the industry.
NSTARS maintains a three year historical trade database and can calculate Financial Consultant (FC) payout on a daily or monthly basis. Included in the system are discount analysis, small ticket processing, discount charge back, revenue analysis, daily product analysis, peer-to-peer ranking and interfaces to payroll and general ledger. NSTARS can handle sundry charges on an automated or item-by-item basis.
NSTARS offers:
- Support for multiple payment plans and an unlimited number of grid levels; it can handle plateaus, retros, splits, multiple FC numbers, contracts, etc.
- Payout structures that can be based on category, product type, production goal, securities, product, account, etc.
- Interfaces with NASD’s CRD file for mapping registration information to Bloomberg Trader account files; APIs to trade, bookkeeping, asset and other third-party files.
NSTARS exists in two versions, one for Retail Producers, and one for Institutional Producers.
The NSTARS Retail Producers product:
- Allows a starting grid level to be established each year.
- Provides quarterly reviews of the actual commission versus the expected commission.
In addition, the NSTARS Institutional Producers Product:
- Provides payouts for sales people and traders.
- Can base compensation on institutional IDs and all sub accounts.
- Maintains the sub account and family account relationship and interface to Bloomberg account files.
- Provides reports by sales person and by institution.
- Provides an interface to the McLagan system.
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COMPENSATION MODELING TOOL
One of NSTARS’s most powerful features is its tool for “what if” analysis. Compensation managers can develop all kinds of alternative plans and scenarios, with different products, categories, levels and payout structures. NSTARS will run these alternative models with real historical data, revealing their effect on both the FC’s compensation and the firm’s profitability. The NSTARS modeler thus supports the development of optimum compensation plans – plans that are fair and competitive, and that deliver the maximum benefit to the firm’s bottom line.
This is one way in which NSTARS helps “manage the unmanageable.” Detailed compensation plan analysis takes months if done manually. NSTARS can do it in hours.
FEATURES & BENEFITS
NSTARS delivers value for all the key stakeholders in the broker-dealer environment.
- For sales, NSTARS provides data and an analytical framework for the evaluation of performance at all levels, with the most powerful compensation modeling tool in the industry.
- For marketing, NSTARS provides an automated database and historical reports which comprise a broad, flexible source of information for analytical studies.
- For accounting, NSTARS provides a responsive and highly controlled system for compensation processing.
REPRESENTATIVE REPORTS
- FC Production Summary
- Branch Manager Cost of Sales
- Contract Bonus Calculations
- Discount Analysis
- Firm Equity Ranking
- Gross Revenue per Trade Analysis
- Monthly Commission Detail
- MTD Ranking by Branch
- Office Production Summary by Rank
- Payroll Expense
- Profit Center & Firm Commission Detail
- Sales Credit Analysis
- Summary of Customer Activity
View the NSTARS architecture model.
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