Castine Announces Record Growth in Its Commission Management and Compensation Solutions for Brokers

castine-announces-record-growth-in-its-commission-management-and-compensation-solutions-for-brokers

RIDGEWOOD, N.J.–()–Castine has onboarded more of its C3 broker solutions platform in the first quarter of 2022 than in any prior quarter. This growth is based on the critical need for firms to optimize financial and technical performance, the increased need for financial services firms to move to the cloud and the necessity for firms to upgrade and move away from legacy solutions.

Castine’s C3 platform offers a secure portal for brokers to manage their complex retail and institutional sales performance and compensation programs, CSA/commission management offerings, securities lending, invoicing, compliance, profitability, outsourced trading, and aggregation services in one place. Implementations are streamlined for brokers as the system can bring in trades for any service or asset class, expenses, coverage information, etc. and use it for a myriad of different purposes without needing to reload it.

100% of Castine’s systems are cloud-based and use services such as Amazon’s AWS, Google’s GCP, Microsoft Azure, and others. “This flexibility is a hallmark of our approach to working with clients; if they have solutions already running on a particular provider, we can leverage that investment,” said Robin Hodgkins, Castine’s President.

Brokers opt for Castine’s platform because they can select just the modules that they need. Several brokers have started with just one module, for example, the CSA/Commission Management (“Commander”) module and then realized that their sales performance and compensation system could benefit from the significant upgrade that the Commissioner module can add. Client and trader profitability might then be added, or perhaps the broker has always wanted to offer outsourced trading or have an integrated compliance module.

To meet this demand, Castine has been expanding its operations in the US, England, and Argentina. “As a leading provider of sales performance, commission management, and compensation solutions for financial services firms, Castine is honored to have the recognition associated with these wins and all the clients we serve,” said Tom Smith, Castine’s Executive Vice President.

About Castine

Castine LLC is an industry leader in sales performance, commission management, compliance, and compensation systems. Castine’s C3 Suite is used worldwide by retail and institutional brokers, asset managers, and hedge funds.

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