What are the different billing styles available?
Advisors can set up as many fee schedules as they want.
They can bill:
- Flat dollar fee
- Flat percentage fee with or without a minimum annual dollar fee
- AUM breakpoints with or without a minimum annual dollar fee
The one thing advisors cannot do is charge two different fee schedules to an account (i.e. a financial planning fee AND an asset management fee).
Orion Fee Schedule Types Defined:
Flat = One rate, regardless of the household value.
Linear = One rate that is based on the total value of the household.
Tiered = A blend of multiple rates that is based on the total value of the household.