Step 8 - Enter ADVISER FEES

Step 8 - Enter ADVISER FEES

FEES

If your clients are currently paying any Adviser Fees, you may wish to incorporate the fees in the current model.

If your clients are NOT currently paying fees, you may wish to leave them out of the Default (Current) Scenario, and only incorporate them into your Recommended Scenarios.


To ADD an UPFRONT ADVISER FEE into your Scenarios

1.      Click on EXPENSES from the left-hand menu.

2.      Scroll down to the very bottom of this screen and you will see the FEE RECORDS data entry options.



3.      To enter an Upfront Fee, click on CREATE NEW UPFRONT FEE.

          A new ADD FEE screen opens.




4.      Enter the following data:
  1.     the value of the upfront fee
  2.     the account the fee will be paid from
  3.     whether the fee is tax deductible
  4.     whether you wish to use the Prospera DDR system to draw the fee
  5.     whether you would like the fee taken into account in the modelling.

5.      Click ADD to save the upfront fee record.



To ADD an ONGOING ADVISER FEE into your Scenarios

1.      Click on EXPENSES from the left-hand menu.

2.      Scroll down to the very bottom of this screen and you will see the FEE RECORDS data entry options.

3.      To enter an Ongoing Fee, click on CREATE NEW ONGOING FEE.

          A new ADD FEE screen opens.

4.      Enter the following data:
  1.   the start date for the fee
  2.   the end date for the fee
  3.   the value of the upfront fee
  4.   the account the fee will be paid from
  5.   whether the fee is tax deductible
  6.   whether you wish to use the Prospera DDR system to draw the fee
  7.   whether you would like the fee taken into account in the modelling.

5.      Click ADD to save the ongoing fee record.



Link to Next Topic -  Review Results


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