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Advisory Services Disclosure

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ADVISORY SERVICES DISCLOSURE

Client Name:    Advisor Name:

Client Address:

Advisor Address:

Entity Type:

RECITALS

WHEREAS, Advisor is in the business of providing professional advisory and consulting services, including but not limited to business strategy, operational assessment, and implementation guidance, and represents that Advisor has the experience, qualifications, and personnel necessary to perform the advisory services described in this Disclosure; and

WHEREAS, Client desires to engage Advisor to provide advisory services under the terms set forth in this Disclosure, and Advisor agrees to provide such services subject to the terms, limitations, and conditions stated below.

SCOPE OF WORK

Advisor shall provide advisory services as expressly set forth in the scope below. Services may include analysis, recommendations, reporting, and reasonable communications with Client representatives. Advisor shall render services with reasonable skill and care consistent with industry standards.

PAYMENT TERMS

Client shall pay Advisor for services rendered as set forth below. All fees are non-refundable except as expressly provided herein.

TERM AND TERMINATION

This Disclosure shall become effective as of Effective Date and shall continue in effect until the End Date, unless earlier terminated in accordance with this section.

Effective Date:    End Date:

Either party may terminate this Disclosure for material breach by the other party if the breaching party fails to cure such breach within the notice period specified above. Termination shall not relieve Client of its obligation to pay for services rendered and expenses incurred prior to termination.

CONFIDENTIALITY

"Confidential Information" means non-public information disclosed by one party to the other that is designated as confidential or that reasonably should be understood to be confidential given the nature of the information and the circumstances of disclosure. Advisor and Client each agree to hold Confidential Information in confidence and not to disclose or use such information except as required to perform under this Disclosure or as required by law, provided that the receiving party shall give the disclosing party reasonable prior notice of any compelled disclosure and shall cooperate with efforts to limit or protect such disclosure.

Confidentiality acknowledged:

LIMITATION OF LIABILITY; INDEMNIFICATION

Except for liabilities arising from gross negligence, willful misconduct, or breach of confidentiality, Advisor's liability for any claim arising out of or relating to this Disclosure shall not exceed the total fees paid by Client to Advisor under this Disclosure during the six (6) month period preceding the claim. Neither party shall be liable to the other for consequential, incidental, special or punitive damages.

Client shall indemnify and hold harmless Advisor from and against any third-party claims arising from Client's use of Advisor's recommendations, except to the extent caused by Advisor's gross negligence or willful misconduct.

CONFLICTS OF INTEREST; DISCLOSURES

Advisor shall disclose any material conflicts of interest or affiliations that could reasonably be expected to materially influence Advisor's advice. The parties may set forth specific disclosures below.

GOVERNING LAW; DISPUTE RESOLUTION

This Disclosure shall be governed by and construed in accordance with the laws of the state specified below without regard to its conflicts of law principles. Any dispute arising out of or relating to this Disclosure shall be resolved by binding arbitration if both parties so agree in writing, or in a court of competent jurisdiction in the governing state if arbitration is not mutually agreed.

ENTIRE AGREEMENT; AMENDMENT

This Disclosure (including any attached scope and payment schedules) constitutes the entire agreement between the parties regarding the subject matter hereof and supersedes all prior or contemporaneous agreements, understandings, and communications. Any amendment or modification must be in writing and signed by both parties.

MISCELLANEOUS

Advisor does not guarantee any particular result. Client acknowledges that Advisor is providing advisory services and that Client retains ultimate responsibility for business decisions. The parties each represent that they have authority to enter into this Disclosure.

Client acknowledges receipt of this Advisory Services Disclosure and understands and accepts the terms herein:

Client:

By:

Date:

Advisor:

By:

Date:

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What the Advisory Services Disclosure Is

An Advisory Services Disclosure is a formal written statement provided by a professional adviser that explains the nature, scope, and terms of advisory services offered to a client. It describes the services to be provided, the fee structure, potential conflicts of interest, data-handling practices, and the client’s rights. For regulated advisers, the disclosure complements regulatory filings and client agreements. The disclosure is used to set expectations, document consent, and provide evidence of disclosure in the event of disputes or regulatory review.

Why this Disclosure Matters to Clients and Advisers

A clear Advisory Services Disclosure establishes responsibilities, fee terms, and limits of liability, reducing misunderstandings and supporting compliance with professional and regulatory obligations.

Why this Disclosure Matters to Clients and Advisers

Who Typically Prepares and Receives This Disclosure

Financial advisers, consultants, legal counsel, and healthcare or education program managers commonly prepare an Advisory Services Disclosure before beginning fee-based work.

  • Registered investment advisers and financial planners who must disclose fees and conflicts to clients.
  • Independent consultants and professional service firms engaging clients on project or retainer terms.
  • Healthcare administrators and education program leads when services involve patient or student data handling.

Clients, institutional purchasers, and contracting parties receive the disclosure to review service terms and make an informed acceptance decision.

Core Components of a Professional Advisory Services Disclosure

A complete disclosure organizes material terms so clients can find fee, scope, and data-handling details quickly and consistently across engagements.

Services Defined

Describe in plain language the advisory tasks, deliverables, frequency, and any services excluded from the engagement.

Fees and Billing

Specify fee types (hourly, retainer, percentage), billing frequency, reimbursement policies, and how fee changes are communicated.

Conflicts of Interest

Disclose financial relationships, referral arrangements, or third-party interests that could affect impartiality.

Data Handling

Explain what client data is collected, retention periods, security protections, and conditions for data sharing.

Termination Terms

State how either party can end services, notice requirements, and final billing or transition obligations.

Legal & Regulatory Notes

Identify governing law, dispute resolution procedures, and any industry-specific regulatory disclosures required of the adviser.

Required Information to Include

Advisor Identity: Full legal name
Client Identity: Full legal name
Service Scope: Concise description
Fee Schedule: Amounts and billing
Effective Date: MM/DD/YYYY
Signature Block: Signer name and date

Step-by-Step: Completing the Disclosure

Follow a consistent sequence to reduce omissions and speed review: prepare, verify client identity, complete fields, obtain signatures, and distribute final copies.

  • 01
    Prepare Document: Use a template matching your service type.
  • 02
    Verify Identity: Confirm client name and authority to sign.
  • 03
    Complete Fields: Enter dates, fees, and scope accurately.
  • 04
    Obtain Signatures: Collect signatures and record delivery method.

Configuring an Online Completion Workflow

Choose field mappings and signer order, then add authentication and retention settings to create a secure electronic workflow.

Workflow Field Mapping and Settings Define which PDF fields map to data capture and how they validate entries.
Signature Placement and Signing Order for Advisory Services Disclosure Specify primary adviser signer, client signer, and any witness positions and enforce signing sequence.
Authentication Method Select email, SMS code, or advanced verification per signer risk level.
Retention and Audit Trail Settings Enable audit trail capture, tamper-evident seals, and retention duration for compliance.
Attachment and Supporting Documents Require exhibits such as fee schedules, engagement letters, or KYC documents as attachments.

Where to Send or File the Completed Disclosure

Routing depends on the relationship: give the client a copy, retain a signed original, and file with internal compliance if required.

  • Client Copy: Deliver the signed disclosure to the client for their records.
  • Firm Records: Store a signed copy in the adviser’s compliance system.
  • Regulatory Filing: File required disclosures with regulators if applicable.
  • Third-Party Recipients: Send copies to custodians, trustees, or legal counsel as needed.

Digital Signing and eSubmission Requirements

Use an eSignature platform that supports audit trails, secure storage, and the authentication level required for your client relationship.

  • Authentication Options: Email, SMS, or KBA
  • Document Formats: PDF and DOCX
  • Integrations: CRM and cloud storage

Timelines and Typical Deadlines

Time-sensitive timing depends on engagement terms and any regulatory timing obligations; record and alert stakeholders to key dates.

Disclosure Delivery Timing:

Provide prior to or at engagement start as stated in the engagement agreement.

Effective Date:

Date on the document controls when services and obligations begin.

Renewal or Annual Review:

Schedule annual updates when scope or fees change.

Record Retention Start:

Retention periods start on the effective date or document creation date.

Regulatory Reporting:

Meet any regulatory filing deadlines applicable to your industry.

Common Mistakes to Avoid When Preparing the Disclosure

  • Using vague fee descriptions such as 'reasonable' that leave billing disputes unresolved and increase client confusion.
  • Failing to confirm the signer's authority when an organization signs, which can render the disclosure unenforceable.
  • Omitting data-handling details for sensitive client information, especially when healthcare or education data are involved.
  • Relying on handwritten amendments without updating the main disclosure record and audit trail for electronic copies.

Consequences of an Incomplete or Incorrect Disclosure

Contract Risk: Disputes or unenforceable terms
Regulatory Exposure: Possible fines or investigations
Client Liability: Unexpected fees claimed
Data Breach Risk: Privacy violations
Professional Sanctions: Discipline for noncompliance
Reputational Harm: Loss of client trust

eSignature Pricing Comparison for Completing the Disclosure

Common vendor pricing and feature differences for electronic signing platforms; signNow is listed first per comparison conventions.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day free trial Varies Varies Varies Varies
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No

Frequently Asked Questions about Advisory Services Disclosures

Answers to common questions about legal validity, eSignature use, notarization, and recordkeeping for Advisory Services Disclosures.


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