A broker account and the levels of hierarchy
Overview
In 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:
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Aggregator: This is the highest level in the hierarchy. It serves as a parent to the Sub-Aggregator.
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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, and can have many individual broker contacts under it.
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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
For 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 a Parent Account of the Type, Aggregator.
Step 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
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.
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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, 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, 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.
Note:As there are two Broker checkboxes in the Account Layout, make sure to check the Broker (clcommo .Broker) present in the Q2 common package.
Commission Plan Select a commission plan that would be the default one for this broker account.
Note:As there are two Commission Plan checkboxes in the Account Layout, make sure to check the Commission Plan (clcommon.Commission_Plan) present in the Q2 common package.
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 parent as, Sub-Aggregator:
Image of creating a Sub-Aggregator broker account with the parent as, Aggregator:
Image of creating an Aggregator broker account with parent as, none:
Add the broker Account Types
Prerequisite
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
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.
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On the Type page, in the Account Type Picklist Values section, select New.
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On the Account Type page, in the text box, enter the following values in separate lines:
Aggregator
Sub-Aggregator
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Select Save.
This saves the Types for the broker account.