Software firm PriceMetrix announced today that Canaccord Wealth Management has signed a three-year agreement to purchase CommissionCheck. The recently released CommissionCheck will support the equity pricing practices of over 272 advisory teams across Canaccord’s 31 Canadian wealth management offices.
Information on pricing transparency and comparability is an essential element in the advisor-client relationship. CommissionCheck instantly shows how an advisor’s proposed commission compares to other commissions at their firm, and across the industry. CommissionCheck reveals a range of comparable commissions, from what popular discount brokerages would charge to what top performing full-service advisors charge. Advisors may learn that they have an opportunity to raise their price to an acceptable market level, or that they are priced at a premium relative to what others charge.
CommissionCheck can operate as a standalone application or can be integrated directly into a firm’s order entry system. CommissionCheck is powered by a data set of more than 15,000 full service investment advisor books and over 380 million transactions across the retail securities brokerage industry. Transaction data is checked to ensure anonymity and to protect privacy. It is also refreshed on a monthly basis to ensure maximum accuracy and relevance.