Broker account and the levels of hierarchy

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Broker account and the levels of hierarchy

In Q2 Origination, 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.

      • Broker: This is positioned at the third level in the hierarchy.

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

    Steps

    1. Create a broker account of the Type, Aggregator.

    2. Create a broker account of the Type, Sub-Aggregator and a Parent Account of the Type Aggregator.

    3. Create a broker account with the Parent Account of the Type, Sub-Aggregator.

      A broker can also have a Parent Account of the Type, Aggregator.

Create a broker account

  1. Log in to your Salesforce account.

  2. Go to Accounts tab, and then select New.

    Selecting New displays a New Account page.

  3. 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 of the Type, Aggregator, then you do not need to select a Parent Account.

    • If the broker account you are creating is of the Type, Sub-Aggregator, 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 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, Aggregator.

    • Sub-Aggregator: Select this if the broker account you are creating must be of the type, Sub-Aggregator.
    Commission Plan

    Select a commission plan that would be the default one for this broker account.

    Broker If this field is selected, the account is considered as a broker account.

    This creates a three-level hierarchy of broker accounts.

    Note:

    Default commission plan for a broker account

    • Each broker account may have a default commission plan selected.

    • When a broker account is added as the broker party on an application, 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 by manually clicking New Commission button under the Broker Commission section of the Party page.

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

Add the broker Account Types

Prerequisites

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

Steps

  1. Log in to your Salesforce account.

  2. Go to Setup > Object Manager.

  3. Go to Account > Fields & Relationships.

  4. In the Quick Find box, search for Type and then select it.

  5. On the Type page, in the Account Type Picklist Values section, select New.

  6. On the Account Type page, in the text box, enter the following values in separate lines:

    • Aggregator

    • Sub-Aggregator

  7. Select Save.

    This saves the Types for the broker account.

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