AFS installs DMS income management system
Peter Daly
Australian Financial Services Group (AFS) has implemented a new income management system developed by Dealer Management Systems (DMS).
The new system has been introduced because of significant growth of the AFS business since its earlier income management system, Client Management System (CMS), was developed in-house in July 2001.
AFS expects the new system will complement its business objectives and provide a more efficient, responsive service for its advisers by streamlining the income management administration process.
Over 90 Australian licensees use the core DMS system, which processes the payments for more than 5,000 advisers.
CMS and DMS have run parallel over recent months, with a full successful transfer to the DMS system last month.
Chief executive officer of AFS Peter Daly said the new system is part of the dealer group’s commitment to enhancing the operation, efficiency and profitability of its respective businesses and practices.
He also hinted that AFS would soon be making a number of other announcements, suggesting that the strong results of the year so far are “only the ‘tip of the iceberg’ and there are many more exciting developments and chapters to be announced in the near future”.
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