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Agreement to Provide Financial Planning Advisory Services

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Agreement to Provide Financial Planning Advisory Services

Agreement made on the , between of , referred to herein as Client, and , a corporation organized and existing under the laws of the state of , with its principal office located at , referred to herein as Advisor.

Whereas, Client wishes to retain Advisor to act as Client’s financial planner and advisor in accordance with the terms and conditions of this Agreement;

Now, therefore, for and in consideration of the mutual covenants contained in this agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

I. Client's Responsibility: Client does hereby agree to:

A. Complete the Advisor's Data Gathering Form, initially and from time to time as requested.

B. Provide all documents and information requested by Advisor when possible.

C. Authorize third parties to disclose Client's confidential information to Advisor when necessary.

D. Provide Advisor with written authorization whenever Client wishes Advisor to disclose Client’s confidential information to third parties.

E. Promptly notify Advisor of changes in Client's personal financial situation.

F. Participate in review sessions annually, unless otherwise agreed, in order to update Client’s financial planning strategies and encourage Client’s other professional Advisors to participate in Client’s review sessions.

II. TERM. This Agreement shall remain in force as long as mutually agreed to by Client and by Advisor. This Agreement may be terminated at any time, by either Client or by Advisor, for any reason, upon 30 days written notice to the other party. This Agreement may be modified upon such terms as may be mutually agreed upon in writing. This Agreement may be terminated without penalty upon written notice by either party. If termination occurs prior to the completion of agreed upon financial planning fees, Advisor fees will be prorated in an amount equal to the portion of the fee attributable to the unprovided services.

III. CONFIDENTIALITY. All information furnished by Client to Advisor, including Client's identity, shall be treated as confidential. Advisor agrees not to voluntarily disclose confidential information without Client's prior consent (unless required by law, court order or agency directive, or unless Advisor expects, in its reasonable opinion, that it will be compelled by a court or government agency, or unless such information becomes publicly available or known other than as a result of actions of Advisor). In the event Advisor is compelled to disclose confidential information by legal process, Advisor will attempt to give prior written notice to Client.

IV. FIDUCIARY DUTY. Advisor shall exercise its best professional judgment to act in good faith and in the best interests of Client. Advisor shall provide written disclosures to Client prior to the engagement of Advisor and thereafter throughout the term of the engagement, of any conflicts of interest which will or reasonably may compromise the impartiality or independence of Advisor. Advisor agrees to adhere to its written Investment Policy Statement, which presents the Client’s informed decisions about the tradeoffs between risk and return. Advisor agrees to use its best professional judgment to act in Client's best interests.

V. DISCLOSURE/REPRESENTATIONS. Advisor represents that it is registered as Investment Advisor with the State of under the Investment Advisors Act of 1940, as amended, and that its registration is currently effective. By executing this contract, Client acknowledges receipt of Advisor's current Form ADV, Part II not less than 48 hours prior to entering into the Agreement or, if provided at the time the Agreement is signed, the Client has the right to terminate the Agreement without penalty within 5 business days after entering into the Agreement.

VII. GOVERNING LAW. The validity, interpretation, and performance of this Agreement shall be governed by and construed under the laws of the State of as long as the state law does not conflict with federal securities laws.

VIII. FEE ARRANGEMENT. Advisor is a fee-only financial planning services firm that charges fees based on the amount of time required to meet the scope of engagement defined by the Client and the Advisor. Advisor agrees to restrict its compensation solely and exclusively to the professional fees it receives directly from its Clients for professional financial planning Advisory services rendered to its Clients. Advisor will not be compensated based upon Client Assets and will not be compensated on the basis of a share of Capital Gains or Capital Appreciation of Client Assets. Neither Advisor nor any party associated with Advisor receives any compensation or other remuneration that is contingent on any Client purchase or sale of a financial product. Advisor does not receive a fee or other compensation from another party based on referral of Client or Client’s business. Unless otherwise agreed, as compensation for the financial planning Advisory services provided by Advisor, the following fee schedule will apply:

IX. INDEMNITIES. Client acknowledges that Advisor's recommendations involve some degree of risk. Advisor will give Client the benefit of Advisor’s continuing study of economic conditions, security markets, and other investment issues.

X. Client acknowledges that Advisor does not furnish actuarial, accounting, tax, or legal advice. Advisor is not a law firm, does not practice law, and cannot and does not furnish legal or tax opinions. Advisor is not an accounting firm, does not practice accounting or auditing, and cannot and does not prepare tax returns or audited financial statements. Advisor is not an actuarial firm, does not provide actuarial advice, and cannot and does not administer retirement plans. Client should retain, separately, Client's own attorneys, accountants, and other financial services professionals. Client agrees that Client's own attorneys, accountants and other financial services professionals shall be solely responsible for the accuracy of legal advice, legal opinions, legal documents, accounting documents, tax opinions and tax returns.

XI. Client acknowledges that Advisor is not responsible for the accuracy or completeness of information furnished to Advisor by Client or by any other party. The federal securities laws impose liabilities under certain circumstances on persons who do not act in good faith. Nothing herein shall in any way constitute a waiver or limitation of any rights which Client or Advisor may have under any federal securities laws.

XII. No Waiver

The failure of either party to this Agreement to insist upon the performance of any of the terms and conditions of this Agreement, or the waiver of any breach of any of the terms and conditions of this Agreement, shall not be construed as subsequently waiving any such terms and conditions, but the same shall continue and remain in full force and effect as if no such forbearance or waiver had occurred.

XIII. Notices

Any notice provided for or concerning this Agreement shall be in writing and shall be deemed sufficiently given when sent by certified or registered mail if sent to the respective address of each party as set forth at the beginning of this Agreement.

XIV. Mandatory Arbitration

Any dispute under this Agreement shall be required to be resolved by binding arbitration of the parties hereto. If the parties cannot agree on an arbitrator, each party shall select one arbitrator and both arbitrators shall then select a third. The third arbitrator so selected shall arbitrate said dispute. The arbitration shall be governed by the rules of the American Arbitration Association then in force and effect.

XV. Entire Agreement

This Agreement shall constitute the entire agreement between the parties and any prior understanding or representation of any kind preceding the date of this Agreement shall not be binding upon either party except to the extent incorporated in this Agreement.

XVI. Modification of Agreement

Any modification of this Agreement or additional obligation assumed by either party in connection with this Agreement shall be binding only if placed in writing and signed by each party or an authorized representative of each party.

XVII. Assignment of Rights

The rights of each party under this Agreement are personal to that party and may not be assigned or transferred to any other person, firm, corporation, or other entity without the prior, express, and written consent of the other party.

WITNESS our signatures as of the day and date first above stated.

________________________ By:

(Printed name)

(Printed name & Office in Corporation)

 

__________________________

(Signature of Client) (Signature of Officer)

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What the Agreement to Provide Financial Planning Advisory Services Is

The Agreement to Provide Financial Planning Advisory Services is a written contract that sets out the scope, responsibilities, compensation, and legal terms between a client and a financial planner or advisory firm. It documents services such as financial analysis, investment advice, retirement planning, tax planning, and ongoing portfolio monitoring. The agreement clarifies deliverables, timelines, termination rights, confidentiality protections, and any limits of fiduciary duty or authority. Properly completed, signed, and retained, the agreement reduces misunderstandings and creates an enforceable record of the adviser–client relationship and obligations.

Why a Clear Advisory Agreement Matters

A written agreement defines expectations, allocates risk, and documents fees and deliverables to reduce disputes. It also supports regulatory compliance by documenting consent, scope, and disclosures required for investment advisory relationships.

Why a Clear Advisory Agreement Matters

Who Typically Uses This Agreement

Financial planners, registered investment advisers, broker-dealers offering advisory services, family offices, and high-net-worth clients commonly use this agreement to formalize advisory relationships.

  • Independent financial planners and RIA firms who offer ongoing advice and require written scope and fee arrangements.
  • Wealth management teams in banks or broker-dealers documenting hybrid advisory or discretionary service limits.
  • High-net-worth individuals and families seeking clarity on deliverables, reporting cadence, and custodian arrangements.

The agreement is useful for one-off engagements as well as ongoing advisory relationships and supports recordkeeping obligations under SEC and state advisor rules.

Who Signs and Why

Client — Individual

The individual client signs to accept the adviser’s scope, fee schedule, and consent to electronic records when applicable; signatures establish intent and attribution under ESIGN and state law.

Advisor — Firm Representative

An authorized representative of the advisory firm signs to confirm service obligations, fee collection authority, confidentiality commitments, and any delegation to third-party custodians or subadvisers.

Core Elements to Include in a Professional Agreement

A complete agreement organizes the relationship in clear sections so both parties understand duties, compensation, and remedies. The following elements form the standard structure used by advisers and counsel.

Scope of Services

Define exactly which planning tasks and ongoing services are included, and identify any excluded services such as tax return preparation or legal drafting.

Fees and Payment

Describe fee method (hourly, flat, AUM percentage), billing frequency, reimbursement of expenses, and any performance fee arrangements or third-party payment processing.

Term and Termination

State effective date, renewal terms, termination rights, notice periods, and any early-termination fees or pro rata refunds.

Authority and Limitations

Specify whether the adviser has discretionary trading authority, limited approval rights, or only advisory, non-discretionary authority.

Confidentiality and Data Use

Address treatment of personal financial data, third-party sharing, and required disclosures to custodians or service providers, consistent with privacy laws.

Liability and Dispute Resolution

Include limitation of liability, indemnities, governing law, venue, and whether arbitration or court litigation will resolve disputes.

Step-by-Step: Completing the Agreement

Follow this sequence to prepare, review, and finalize the advisory agreement so it is enforceable and operationally ready.

  • 01
    Prepare Draft: Assemble client data and populate party names, scope, and fees.
  • 02
    Review and Customize: Have counsel or compliance review disclosures, disclaimers, and fiduciary language.
  • 03
    Obtain Signatures: Send for signature using a compliant eSignature solution or collect wet signatures and notarizations if required.
  • 04
    Distribute and Retain: Provide fully executed copies to all parties and retain per regulatory retention rules.

Routing and Execution Workflow

Typical routing moves from drafter to compliance review to client signature, then to custody and record retention; each step should be tracked in a process log.

  • Upload Document: Store master copy in a secure document management system in PDF or DOCX format.
  • Place Fields: Add signature, date, and checkbox fields where required to capture consent and acknowledgements.
  • Send to Signers: Deliver by email link, SMS code, or in-person kiosk following the chosen authentication level.
  • Capture Audit Trail: Record timestamps, IP addresses, and signer actions for evidentiary support.

Digital Workflow Settings to Configure

When using an eSignature platform, configure authentication, field behavior, and retention to match legal and compliance requirements.

Field Configuration
Authentication Level Email link, SMS code, or KBA depending on client risk profile
Conditional Fields Show or hide fee clauses based on selected service options
Audit Trail Enable full event logging with timestamps and IP addresses
Storage Format Save executed copies as PDF/A with embedded audit certificate

Technical and Security Requirements for eSigning

Choose a platform that supports legal eSignature standards, secure storage, and integration with your back-office systems.

  • Document Formats: PDF, DOCX, and HTML supported to preserve layout and metadata
  • Integrations: Connect to CRM/ERP systems such as Salesforce, NetSuite, Google Workspace, and Microsoft 365
  • Security: TLS in transit and AES-256 at rest plus role-based access controls

Ensure the platform can produce an auditable certificate of completion, meet HIPAA/21 CFR Part 11 requirements when needed, and support retention policies for regulatory compliance.

Essential Information and Data Controls

Client ID: Tax ID or SSN
Contact Info: Phone and email
Account Numbers: Custodian or brokerage account IDs
Fee Terms: AUM %, hourly rate
Compliance Data: KYC/AML records
Consent Records: ESIGN consent and disclosures

Key Risks and Consequences of Errors

Contract Voidance: Ambiguous scope risks unenforceability
Regulatory Sanctions: Failure to keep records may trigger SEC or state enforcement
Tax Penalties: Incorrect reporting can cause IRS penalties
Client Disputes: Missing disclosures increase malpractice risk
Privacy Breach: Improper data handling can trigger HIPAA/CCPA liability
Signature Issues: Weak authentication can undermine enforceability

Common Preparation Mistakes to Avoid

  • Leaving fee terms vague or using undefined terms such as 'reasonable fees' without numeric detail
  • Using inconsistent party names that differ from tax or custodian records
  • Failing to record client consent to electronic delivery for consumer-facing financial services
  • Not retaining a complete audit trail including timestamps and authentication method

Real-World Examples of Agreement Use

Case examples illustrate typical drafting choices and operational workflows for advisory engagements.

Optica Ventures

A boutique advisor used a clear AUM fee schedule to reduce billing disputes

  • Implemented quarterly reporting and client portal access
  • The result was fewer client inquiries and a standardized compliance record for audits, improving operational reliability and record retention.

Fertility Centers of Illinois

A healthcare client required PHI protections and a BAA with the adviser

  • The agreement included HIPAA language and limited data sharing to custodians
  • That approach preserved patient privacy and ensured the adviser met health-sector retention and documentation obligations.

Time-Sensitive Dates and Processing Expectations

Certain dates in the agreement and related filings carry legal or tax consequences; track them carefully to avoid penalties or procedural defaults.

Effective Date:

MM/DD/YYYY — start of obligations and notice clocks

Billing Cycle Start:

Specify invoice due dates and late fee calculations

Tax Reporting:

Retain records needed for IRS audits for at least 3 years (IRC §6501(a))

I-9/Employment Records:

Retain for required periods when staff are engaged (8 CFR §274a.2)

HIPAA Retention:

Healthcare-related documentation: 6 years (45 CFR §164.530(j))

Comparing eSignature Options Commonly Used for Advisory Agreements

Below is a concise vendor comparison focused on cost and key compliance features relevant to advisory agreements. signNow appears first per comparison convention.

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 by plan Varies by plan Varies by plan Varies by plan
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No
Envelope Cap No cap 100 envelopes/user/year Varies Varies Varies

Frequently Asked Questions and Troubleshooting

Answers to common legal, technical, and procedural questions about executing and managing advisory agreements.


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