Patent ID: 7769658
Filing Date: 2010-08-03
Classification: G06Q

Abstract:
1. A non-transitory computer readable medium comprising computer executable code for pooling and managing soft dollar commission accounts of a plurality of clients by a processor based server over a communications network, said computer executable code comprising instructions for: providing access to said server to a plurality of client devices by a web interface module of said server over said communications network, each client device being associated with a client; managing a plurality of investment products/services from a plurality of investment service providers by an investment services module of said server; managing said plurality of soft dollar commission accounts of said plurality of clients by a processor of said server; receiving by said web interface module a selection from a client device associated with a client to access one of a plurality of services offered by said server; providing access to said investment services module to a device associated with an investment service provider to add, delete or modify an investment product/service offering by said web interface module; crediting a soft dollar commission account of said client by said processor when a soft dollar commission attributable to said client is received from any of a plurality of brokerage firms that executed trades on behalf of said client, thereby pooling dollar commissions from said plurality of brokerage firms into said soft dollar commission account of said client; receiving by a client invoice module of said server invoices from said plurality of investment service providers for investment products/services purchased by said plurality of clients; notifying said client device associated with said client by said client invoice module to approve an invoice received from an investment service provider for an investment product/service purchased by said client if said investment services module determines there is no account record between said investment service provider and said client; processing said invoices received by said client invoice module from said plurality of investment service providers by said processor if said investment services module determines that said investment service provider has an accounting record associated with said client or if an approval to pay said invoice was received by said client invoice module from said client; and authorizing payment of said invoice received from said investment service provider for said client if there is sufficient balance in said soft dollar commission account of said client.