Broker Production Splits
When production credit is split between two or more brokers, the production split is done at the time of invoicing. AIM will split commission and fee revenue at the same percentage. If commission and fee revenue is being split at different percentages, first complete the Production Split Calculator found on the AppSupport portal page; then proceed with the instructions below. If the production split is edited after invoicing, it will change only future invoices. When quoting and binding, there is an option for either a split or non-split version for each brokerage fee type. If you are splitting fee revenue, be sure to select the appropriate fee code containing the word “split” and enter the full fee amount.
Setting Production Splits at Invoicing
On the Invoice Transaction – Header screen, click the Production Allocation tab.
The broker listed in the Prod/AcctExec field of the Submission Entry screen defaults to this screen at a 100% percent split of RT’s commission. The total commission percentage payable to RT is shown in the Commission field.
Click Edit.
Enter the revised percentage split of revenue for the broker. AIM will automatically adjust the commission percentage split.
Click Save. Click Add.
Select the additional broker from the drop-down list.
In the % Split field, enter the percentage split for this broker and click Save. Continue this process until the total percent split equals 100%.
When all brokers receiving production credit have been entered, click OK and continue with the invoice process.
Viewing or Updating the Production Split
Search for the submission in the Main view. Click Policy|Misc|Production Allocation.
Update as necessary. Changes made to the production allocation will only affect future invoices.
Version 8, 10/7/2022
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