Vocab
1.00%=_____BPS
What is 100 BPS
Feb, May, Aug, Nov
What is billing cycle 2
What are the 5 types of billing
What is Default/Standard, Direct, Flex, Tiered, Group
Billing and purchasing stops
Client receives a notice via mail
if not advisor initiated then advisor receives MULTIPLE notifications
What is Deactivation
This Form is used to raise the advisory fee.... and requires what signatures?
What is F1CA and requires signature from the Client
Billing starts and trading begins
cycle 3 ONLY
What is MWP, GWP, MS, and PWP
Can only be paid via check
What is Direct billing
Specify the reactivations forms and when to use each
What is F760: MWP, PWP, OMP, GWP
F761: SAM, SWM, MS, MAS, MAN
What is Advisory Direct Billing Subscription form
.35%
GWP program fee
Advisors are paid on or around this date
Using a non-retirement BKG, SAM, SWM, or MWP to pay advisory fees for another account
What is Flex Billing
following a deactivation, a new account is required at this point
What is 365 days
This form has a 3-day SLA and used to set up or remove flex billing
What is form F507
Total Client fee
What is Advisor Fee + Program Fee + Manager Fee
Clients are charged on or around this date
What is the 8th
How do Advisors benefit from Tiered Fee Billing?
What is reduces the need of forms and the advisor receives higher revenue
GWP clients must have this to keep their account.
What is Account view
Form RE-F470/RE-F470-R requires additional review from who when request are over $1000?
What is Central Supervision?
Paid to third party money manager who is responsible for completing trades
What is Manager Fee
Inception date April 1
Cycle 3
Days billed in Arrears?
What is 91 days
A clients wanted to remove flex billing from an account, so they closed the paying account. What will happen to the paying account and what should be done?
Mirror mirror on the wall, who's the greatest trainer of them all????
The appropriate custom billing form for RIA advisors is determined how?
What is based on their advisory agreement