Payroll Automation for Financial Services
Transform your financial services payroll automation with custom automation built by Harvard-educated experts. Measurable outcomes in 4-8 weeks, backed by 98% client retention.
Expected Outcomes
Measurable results our financial services clients achieve with payroll automation.
Every adviser payment calculated precisely against their individual remuneration agreement terms
Monthly adviser payment processing completed in hours rather than days
Adviser remuneration data structured for ASIC register obligations without manual compilation
The Challenge
Common payroll automation challenges facing financial services businesses.
Every adviser has a different remuneration agreement making each payment calculation unique
Commission clawbacks from lapsed policies or reversed upfront commissions require manual tracking and adjustment
Licensee fee calculations and deductions are complex and vary by adviser and product
ASIC adviser remuneration register requires detailed data that takes significant effort to compile manually
Implementation
How we implement payroll automation for your financial services business.
Adviser Revenue Data Import
Pull revenue data from XPLAN or Midwinter including trail commissions, upfront commissions, and fee-for-service income. Map revenue to individual advisers based on client ownership and advice fee arrangements.
- ✓ Tools: XPLAN, Midwinter, Make
Remuneration Structure Processing
Calculate adviser remuneration based on individual agreements which may include base salary plus commission, revenue share, or hybrid structures. Apply appropriate tax treatment to each component.
- ✓ Tools: KeyPay, Xero, Google Sheets
Licensee Fee Deductions
Calculate and deduct licensee fees, PI insurance levies, and ASIC industry funding levies from adviser payments where applicable. Maintain detailed records for each deduction to satisfy audit requirements.
- ✓ Tools: Xero, Airtable, Make
Regulatory Reporting
Submit STP reports with correct categorisation of commission versus salary components. Prepare data for ASIC adviser remuneration register obligations and generate FDS-supporting documentation.
- ✓ Tools: Xero, KeyPay, ATO STP
Why Choose Clever Ops
What makes our payroll automation solution different.
Agreement Precision
Individual adviser remuneration agreements are configured once and applied automatically, ensuring every payment precisely matches the contracted terms.
Clawback Management
Commission clawbacks from lapsed policies or reversed advice are tracked automatically and applied to future payments with full audit trails.
Licensee Fee Transparency
Every licensee fee, levy, and insurance deduction is itemised clearly, reducing adviser queries and building trust in the payment process.
Regulatory Data Readiness
Adviser remuneration data is structured to meet ASIC register and FDS requirements, eliminating the manual compilation effort currently required.
Financial Services Compliance
Built with ASIC regulatory requirements, AML/CTF compliance, and AFSL obligations in mind. Includes audit trails meeting APRA prudential standards.
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Frequently Asked Questions
Frequently Asked Questions
Ready to Transform Payroll Automation for Your Financial Services Business?
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