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I wondered as an advisor who primarily was operating using asset-based fees if you guys have any templates or samples of the contracts which an advisor might use if he wished to switch to a flat annual retainer, which I know Bill recommends. When I set up my RIA firm the compliance firm drafted all my contracts and ADVs etc. using asset-based fee terminology and language. I just wondered if you might have a sample or template of what a client contract might look like for an annual retainer practice?

Article ID: 591

Last updated: 20 Nov, 2019

We're sorry, but providing sample legal documents is outside the scope of this platform as we are not attorneys or compliance specialists.

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I really need some simple language to explain the following issues. We are charging a flat fee of $9,870 per annum, plus all the Deliverables, which will add up to a total of a minimum of another $10,000. Do I, for example, just state the total will be say $22,000 per annum, or do I just suggest our fee does not include the things you buy to advance progress towards their goals.

How do I better describe my value? One potential client thought he was already living out many of his values and thus enjoying his ideal life. How do I describe that what I do provides incredible value even for the person who enjoys managing his own investments and has enough money and time to take plenty of vacations?

I have a prospect who says that they want to come on board with me but that they can’t out of loyalty to their existing advisor. What should I say in my script for this situation?

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During our Commitment to Hire™ and Commitment to Implement Conversations™, the clients expresses their concern that, “we not go too fast.” They agreed to all the money, but, that does not mean all the money RIGHT NOW (Or even the day we are scheduled to begin implementation). We are talking here about the entirety of their life's work, their health and the rest of their lives, their savings, investments, home, their children and grandchildren's future - and they are justifiably cautious about making a global decision - Trust - but verify. It is only prudent and wise financial planning! Are top advisors taking All The Money on that first implementation day? How does THAT happen?

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