These programs enable you to specify the product you are recommending, your client’s total asset level, and the segment of assets which would be used for the product. You can also input the allocation of the entire portfolio and compare what you are charging with others in your firm as well as across the industry.
 
The way firms charge clients for services has been in flux for several years now. Some firms are beginning to charge differently for different services, with some abandoning the assets-under-management percentage-based model altogether. Others have combined it with project fees and retainer fees.
 
The programs instituted by Morningstar can measure asset-based fees as well as commissions but provide no information on project or retainer fee comparisons.

 

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