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How do I communicate fees to a prospect?

Advisor Fee Communication Best Practices

When communicating fees to your prospect, follow these guidelines:

  • Disclose advisor fees to clients on a regular basis and within your client contracts. Document when and how you communicated your fees to clients.
  • Educate clients about;
    • Your/your team’s overall philosophy and approach
    • The factors that drive fees and pricing
    • Your disclosure practice
    • How you calculate your fees
  • Benchmark fees to ensure they are competitive and you are being paid appropriately for the services you are delivering

Download the Fee Communication Worksheet to help organize and document your fee conversations.