A broker account and the levels of hierarchy

Overview

In the Q2 Loan Servicing, a broker is created by creating an Account with the Broker flag set to true. In addition to this, a broker account can have a three-level hierarchy. The hierarchy of the levels of broker accounts is based on the Salesforce Account Hierarchy where the Sub-Aggregator is a parent of the Broker and the Aggregator is a parent of the Sub-Aggregator. The hierarchy is as follows:

Aggregator: This is the highest level in the hierarchy. It serves as a parent to the Sub-Aggregator.
- Sub-Aggregator: This is positioned at the second level in the hierarchy. It functions as a parent to the broker account and a child to the Aggregator.
  - A broker: This is positioned at the third level in the hierarchy, and can have many individual broker Contacts under it.

A broker account can also be directly associated with an Aggregator.

Create a three-level broker hierarchy

To create the preceding three-level broker hierarchy, perform the steps in the following order:

Prerequisites

The following values are added in the Type field of the Account object:

Aggregator
Sub-Aggregator

Note:

For more information on how to do this, see Add the broker Account Types.

Steps

Step 1: Create a broker account of the Type Aggregator.

Step 2: Create a broker account of the Type Sub-Aggregator and Parent Account as the Aggregator Type.

Step 3: Create a broker account with the Parent Account as the Sub-Aggregator Type.

A broker can also have a Parent Account of the type Aggregator too.

Create a broker account

Steps

Log in to your Salesforce Account.
Select the App Launcher .
In the Search apps and items... search for Q2 Loan Servicing and then select it.
Go to Accounts > New.

On the New Account page, perform the actions as explained in the following table, and then select Save:

Field	Action and Information
Account Name	Enter a name for the broker account that you are creating.
Parent Account	Select the parent account for this broker account based on the following conditions: If the broker account you are creating is an Aggregator type, then you do not need to select a Parent Account. If the broker account you are creating is a Sub-Aggregator type, then select a parent broker account that is of the type Aggregator. If the broker account that you are creating is a simple broker account, then select a parent broker account that is of the type Sub-Aggregator or an Aggregator.
Type	Select the type of broker account that you want to create. For this, select one or none of the following supported options: Aggregator: Select this if the broker account you are creating must be of the Type Aggergator. Sub-Aggregator: Select this if the broker account you are creating must be of the Type Sub-Aggregator. You can select nothing if you want the broker account to be the last one in the hierarchy.
Broker	Select this checkbox to set this account as a broker account.
Commission Plan	Select a Commission Plan that would be the default one for this broker account.

This creates a three-level hierarchy of broker accounts.

Default Commission Plan for a Broker Account

Each broker account may have a default commission plan selected.

On the Contract Party page, when you select a broker account, and if that broker account has a default commission plan attached to it, then that default commission plan with its commission items get displayed automatically.

If the broker account does not have a default commission plan, then you can select the commission plan from the list of all the commission plans available.

You may attach a default commission plan to a broker account while creating an account or while editing an existing account.

Note:

For more information on the default commission plans on the Contract Party page, see the Step 4: Add the broker to the contract and select the Commission Plan and Variance section of the Configure a Broker Commission page.

Image of creating a broker three-level hierarchy:

Image of creating a broker account with a Sub-Aggregator as its parent:

Image of creating a Sub-Aggregator broker account with an Aggregator as its parent:

Image of creating an Aggregator broker account with none as its parent:

Add the broker Account Types

To create a broker account as an Aggregator Type or a Sub-Aggregator Type, you must first add these types in the Type field of the Account object.

Steps

Log in to your Salesforce account.
Go to Setup > Setup > Object Manager.
Go to Account > Fields & Relationships.
In the Quick Find box, search for Type and then select it.
On the Type page, in the Account Type Picklist Values section, select New.
On the Account Type page, in the text box, enter the following values on separate lines:
- Aggregator
- Sub-Aggregator
Select Save.