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Agent Core overview

Agent Core works out what every selling agent has earned and shows it to them on their phone. It reads the daily fee and holdings files, applies the institution’s own rates and commission plans, calculates upfront and retention, and closes each period with a maker, a checker and a reconciliation that must come to zero.

Agent Core is designed for fund distributors and asset management companies supervised by the SEC, selling mutual funds through the fund platform and private funds from their own private-fund system. It runs at its own address, on the same accounts and database as KYC Core and CDD Core.

How a commission is made in Agent CoreDaily fee files from the fund platform and the private-fund system are landed and checked against their control totals; the institution's allocation rules — rate master, plan and book — apply; the engine computes upfront, retention, clawback and the licence gate; the period closes with a maker and a checker once reconciled to zero; each SA sees the figures in the Agent Portal and the institution gets the payment and tax files. Batches that fail go to the exception queue.Fee filesfund platform · dailyprivate-fund systemLand and checkcontrol totalsre-pull loads nothing twiceAllocation rulesrate master · plan · bookeffective-datedCalculationupfront · retentionclawback · licence gatePeriod closeMaker → Checkerreconciled to 0.00Agent Portaleach SA's own figuresany devicePayment filesbank · payrolltax certificatesException queuefailed batch · no SA · no fee master · licence expiredresolved by the Commission Admin; never part of a commissionLEGENDSourceStepRules · recordEngineSAOutput
Fee file → allocation rules → calculation → maker and checker → Agent Portal. A file that fails its checks stops the run; it never produces part of a commission.

Who uses it

Section titled “Who uses it”
RoleSeesDoes
SA — employee (sales, RM, investment consultant)Own customers, own earnings, own statementsReads; raises a dispute on a statement line
SA — freelance (introducing agent on contract)The same, plus own tax documentsReads; raises a dispute; updates the tax profile for approval
Team LeadOwn earnings and the team roll-upReads
Commission AdminEverythingMaintains rates, plans and books; runs calculations; resolves exceptions; proposes adjustments (maker)
Finance ApproverPeriods, statements, taxApproves or returns a period (checker); exports the payment files
Compliance ViewerEverything, read-onlyReads; exports the audit trail
System AdminConfiguration and connectionsFile schedules, connection credentials, formula versions

SA means selling agent: the individual who sells. A person may hold more than one role, but never the maker and the checker on the same item.

Upfront and retention

Section titled “Upfront and retention”
  • Upfront is earned once, when a subscription or switch-in is allotted, from the front-end fee the AMC lets the distributor keep.
  • Retention (trailer) is earned every day the customer holds units, from the AMC’s share of the management fee, on NAV-valued holdings.
  • The book is the set of customer accounts assigned to an SA for a date range. A book can move to another SA from a given day without losing its history.

Duty → where Agent Core supports it

Section titled “Duty → where Agent Core supports it”
DutyWhere
Pay only licensed investment consultantsLicence gate: no earning accrues while the IC licence is missing or expired
Remuneration that does not push product over suitabilityPlans are versioned and approved; clawback and the switch-frequency report are built in
Pay what the institution’s own rules sayFormula versions and a period that cannot close with a non-zero difference
Withholding tax and certificates for freelance agentsPeriod close
Customer data seen only where neededAgent Portal: name and account reference only, every view logged

What the system does or refuses

Section titled “What the system does or refuses”
  • Figures come from the fund platform’s files, never from manual transaction entry.
  • Computed rows are never edited. A correction is an adjustment, proposed and signed.
  • An SA never sees another SA’s book.
  • Agent Core does not move money. It produces the bank and payroll files for the institution to pay.
Section titled “Related”