Creating Fee Schedules and Overrides

Creating Fee Schedules and Overrides

To create a new Fee Schedule:

  1. Navigate to Run Business > Billing.
  2. Decide whether to start from scratch or create based on an existing Fee Schedule.
    • To start from scratch, click Create Fee Schedule from the top list of commands.
    • To duplicate and edit an existing Fee Schedule, locate it in the list and click the duplicate control.
  3. Select the Schedule Type:
    • Default Fee Schedule for this Billing Group: The selected schedule will apply to all accounts in the billing group unless there is an Advisor or Account override.
    • Advisor Default Fee Schedule: The defined schedule will apply to all accounts for the selected Advisor(s) unless there is an account override.
    • Account Override Fee Schedule: The defined schedule will apply to all selected accounts, overriding any Advisor or Default schedules.
  4. Select the Calculation Method: Flat, Cliff Tier, or Blended.
    • Flat: Flat dollar amount.
    • Cliff Tier: Entire account will be billed at the BPS set for the tier the account falls in.
    • Blended: Each tier will be billed at the BPS set for that tier and any remainder at the next tier and so on.
  5. Select the Fee Type. The available options will depend on which Fee Types are selected in your general Billing Settings.
  6. Assign a Name to the schedule.
  7. Set the Fee $ Amount (Flat Schedules) /Minimum Fee (Tier Schedules).
  8. Set the Start Date and, if needed, End Date.
    9. Note: To have a fee schedule or override change partway through a billing cycle, do not edit an existing schedule. Set the current schedule or override to have the appropriate End Date and create the new schedule/override to begin the following day.
  9. Cliff/Blended Tier Fees Only: Create your billing tiers.
    • Use the + New Tier control to add as many tiers as needed.
    • Set the Maximum range and Fee BPS of each tier.
    • The Minimum range of each tier is set automatically from the previous tier’s Maximum.
    • The final tier Maximum will always be and up.
  10. Advisor Override Only: Search for and select the Advisor(s) to whom the fee schedule applies.
  11. Account Override Only: Search for and select the Account(s) which the fee schedule applies to.
  12. Click Save at the bottom to save and enable the new Fee Schedule.

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