The Meritum dealer group has implemented an e-commerce solution to more than 90 of its advisors across Australia.
Through the Dealer Management System's (DMS) Advisor Online product, Meritum advisors can view the value and progress of their commission payments, and apply sophisticated reporting tools to analyse practice profitability.
Meritum executive director, Theo Christopoulas, said the goal of the implementation was to reduce the administrative burden to advisors, allowing them to spend more time with clients.
"We have chosen DMS's product for its ease of use and online functionality, and its capacity to enable advisors to analyse their clients by profitability," he said.
DMS sales and marketing manager, Kurt Smyth, said the solution has already been deployed by RetireInvest, Guardian, Bongiornos, Consultum, Capstone, Millennium 3 and FSP.
"The system gives advisors access to comprehensive management and activity reporting, with the ability to track business lodged and payments received,' Smyth said.
"Advisor Online is helping dealer groups and advisors manage their businesses more efficiently and cost-effectively, as well as improving their understanding of the relationship they have with various product providers."
DMS is an Australian provider of income management systems and is responsible for processing payments for more than 4500 advisors.
DMS is a subsidiary of InvestmentLink, a provider of e-commerce solutions to the financial services industry.