When billing a household group, you have two options for deducting your management fees. 1) Deduct the entire fee from one account in the group. For example, suppose Marvel Financial Planning client Carol Danvers has a taxable account, a variety of … [Read more...]
External Management Fees in PortfolioCenter
Most of your clients probably prefer to have your management fees deducted from their accounts, but some clients may want to send you a check instead. If your management fee is paid outside of the client's brokerage accounts, it will not be … [Read more...]
7 Decisions about Billing in PortfolioCenter
You can create customized client invoices in PortfolioCenter and calculate your management fee based on a percentage of the portfolio's market value on a specific date. Before running your first set of invoices, there are six decisions you must … [Read more...]
Don’t use PortfolioCenter Billing Summary to verify invoices
The PortfolioCenter Billing Summary report is not a reliable tool to verify the accuracy of your client invoices. Review the actual invoices instead. First, format your invoices so they contain enough information to clearly explain how fees are … [Read more...]
