Can this agreement be signed electronically?

Yes. Electronic signatures are enforceable under the ESIGN Act (15 U.S.C. ch. 96) and UETA in most states, provided intent, consent, attribution, and record retention requirements are met.

Is notarization required to make it valid?

Not generally required for standard retained services agreements, but specific state rules or contract types (e.g., certain real estate or power-of-attorney matters) may require notarization.

What happens if a signer disputes authorization?

Maintain strong signer authentication, audit trails, and identity evidence. Disputes may require production of audit logs and communications to establish attribution and intent.

How do I amend an existing agreement?

Document amendments in writing, reference the original agreement, include effective date, and obtain signed consent from all parties to preserve enforceability.

How long must I keep the signed agreement?

Retain for at least 3 years for tax purposes (IRC §6501(a)), longer when industry rules apply; HIPAA requires 6 years for PHI-related records (45 CFR §164.530(j)).

What authentication level is recommended?

Email + SMS is common for commercial agreements; use stronger methods (KBA, multi-factor) for higher-risk financial or regulated transactions.

Electronic Signature
Templates
Finance
Financial Retained Services

Financial Retained Services

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

FINANCIAL RETAINED SERVICES AGREEMENT

This Financial Retained Services Agreement (the Agreement) is entered into as of (Effective Date) by and between:

Firm Information

Firm Name Firm Address

Firm Contact Name

Firm Phone / Email

Client Information

Client Name Client Address

Client Contact Name

Client Phone / Email

Recitals

The Firm provides financial advisory, accounting, tax planning and related professional services. The Client desires to retain the Firm to provide such services pursuant to the terms and conditions set forth in this Agreement. The parties agree as follows.

Scope of Services

Scope of Services (describe specific services to be provided)

Term

This Agreement commences on and shall continue for unless earlier terminated as provided herein. Either party may terminate this Agreement upon written notice if the other party materially breaches and fails to cure within days.

Retainer, Fees and Billing

The Client shall pay an initial retainer in the amount of $ which will be held and applied to fees and expenses as billed. The parties agree to the following fee schedule and estimates:

Description	Rate	Estimated Hours	Estimated Amount



Subtotal
Tax
Other (e.g., travel)
Total

Invoices will be rendered and are due within days of invoice date. Late payments shall accrue interest at % per month (or the maximum permitted by law), plus collection costs.

Expenses and Disbursements

The Client shall reimburse reasonable and necessary out-of-pocket expenses incurred by the Firm in performing services, including but not limited to filing fees, travel, courier fees and third-party charges. Reimbursable expense types and approvals:

Confidentiality

Each party shall keep confidential all non-public information received from the other party and shall use such information solely for the performance of this Agreement. Exceptions include information that is (i) already known without restriction, (ii) publicly available other than by breach of this Agreement, or (iii) required to be disclosed by law or court order, provided the disclosing party gives the other party prompt written notice to allow for protective remedies.

Records; Audit and Retention

The Firm will retain working papers and records related to services for a period of years, unless otherwise agreed. Client may request copies of records upon reasonable notice and payment of copying costs.

Limitation of Liability; Indemnification

The Firm's liability for direct damages arising from negligence or breach of this Agreement shall be limited to the fees paid by the Client under this Agreement during the twelve (12) month period preceding the claim. In no event shall the Firm be liable for incidental, consequential, special or punitive damages. The Client shall indemnify and hold the Firm harmless from third-party claims arising from Client's failure to provide accurate information or from Client's misuse of the Firm's advice.

Governing Law and Dispute Resolution

This Agreement shall be governed by the laws of the state of without regard to its conflict of laws principles. The parties agree to attempt to resolve disputes in good faith and, if unresolved, to submit disputes to binding arbitration in the county of the Firm's principal place of business, unless otherwise mutually agreed in writing.

Notices

All notices must be in writing and delivered to the addresses below by hand, certified mail or overnight courier and shall be deemed given upon receipt.

Notices to Firm - Name & Address Notices to Client - Name & Address

Amendment; Entire Agreement

This Agreement contains the entire understanding of the parties with respect to its subject matter and supersedes all prior agreements. Any amendment or modification must be in writing and signed by authorized representatives of both parties.

Additional Terms / Attachments (if any)

Firm:

By:

Date:

Client:

By:

Date:

What a Financial Retained Services agreement is

A Financial Retained Services agreement is a written contract that documents an ongoing relationship in which a client pays a retainer or recurring fee for access to financial services, advice, or project-based support. It defines the scope of work, billing arrangements, deliverables, performance milestones, confidentiality obligations, and termination terms. These agreements establish expectations for service levels, payment timing, and dispute resolution, and they may incorporate industry-specific requirements such as client identification or privacy addenda. Properly drafted retained services agreements reduce ambiguity and create an auditable record of the parties' commitments.

Why a documented retainer matters for financial engagements

A clear Financial Retained Services agreement protects both parties by setting fees, scope, and termination rules. It reduces disputes, supports regulatory compliance, and creates an auditable paper trail for billing and tax purposes.

Who commonly uses Financial Retained Services agreements

Common users include firms and clients that need predictable access to financial expertise or recurring advisory work.

Financial advisors and wealth managers offering ongoing planning and advisory services for individuals and families.
Accounting and tax firms retained for recurring bookkeeping, tax preparation, or advisory projects.
Corporate finance teams and CFOs engaging external consultants for monthly or quarterly support.

Use by-house counsel, procurement, or external advisors standardizes expectations and supports compliance with professional standards.

Core elements to include in a professional retained services agreement

A complete Financial Retained Services agreement balances clarity with flexibility. The following components are essential to reduce risk and support enforceability.

Scope of Services

Define specific tasks, advisory limits, deliverables, and exclusions so both parties understand the work included under the retainer and what requires separate engagement.

Retainer and Billing

Specify retainer amount, invoicing frequency, billing method, application of retainer to fees, and late-payment consequences to avoid disputes over cash flow and accounting treatment.

Term and Termination

State effective date, renewal provisions, notice periods for termination, and post-termination wind-down obligations, including final invoices and data return.

Deliverables & Milestones

List measurable deliverables or milestone criteria, acceptance procedures, and timelines to align expectations and tie payment triggers to outputs.

Confidentiality & Data Handling

Include confidentiality obligations, permitted disclosures, secure data transfer methods, and any industry addenda such as HIPAA or data processing terms.

Dispute Resolution

Specify governing law, venue, and whether mediation or arbitration is required; clarify fee-shifting or limitation on liability where appropriate.

Required information typically collected in the agreement

Client Legal Name: Full legal name

Service Provider: Legal entity name

Retainer Amount: Numeric value

Billing Terms: Net days or frequency

Effective Date: MM/DD/YYYY

Signature Block: Signer name and title

Step-by-step: completing a Financial Retained Services agreement

Follow these steps to populate and finalize the agreement consistently and accurately.

01

Prepare parties: Enter full legal names and contact information for all parties.
02

Set scope: Describe services, exclusions, and deliverables in plain terms.
03

Define fees: Specify retainer, billing schedule, and how expenses are handled.
04

Sign and record: Execute signatures, date the agreement, and store an auditable copy.

Recommended online workflow settings

Typical configuration options when preparing the agreement for electronic signing.

Field	Configuration
Signer Authentication	Email + SMS code
Expiration	30 days after send
Reminders	Three automated reminders
Routing Order	Sequential signer order

Where the signed agreement goes and how it's delivered

Typical routing and storage paths once the agreement is executed.

Send to Signers: Platform emails or links to designated signers for execution.
Signer Authentication: Signers verify identity by email code, SMS, or stronger methods as configured.
Completed Package: Signed PDF and certificate are generated and attached to the agreement.
Archive: Final documents stored in legal or finance repositories for retention.

Digital signing and submission considerations

Choose a platform that supports secure e-signing, audit trails, and the export formats your records system requires.

File Formats: PDF and DOCX are standard for archiving and redaction.
Integrations: Connectors to CRM, document storage, and accounting systems reduce manual steps.
Authentication: Support for email, SMS, and stronger methods protects signer attribution.

Ensure the chosen workflow supports ESIGN/UETA compliance, secure storage (AES-256 at rest), and the ability to export a verifiable audit trail for audits or disputes.

Common deadlines and timing expectations

Typical dates and timing items for retained engagements and related administrative tasks.

Retainer Effective Date:

The Effective Date fields starts obligations and billing cycles.

First Invoice Due:

Often due on receipt or Net 30 depending on billing terms.

Billing Cycle:

Monthly or quarterly billing cadence specified in agreement.

Termination Notice:

Commonly 30 days written notice to end services.

Record Retention Start:

Retention obligations begin on the Effective Date or date of last action.

Key milestones from signing to close-out

A sequential milestone view helps ensure deliverables and payments align with the agreement timeline.

01

Engagement Signed

Parties sign and date the agreement to create mutual commitments.

02

Initial Retainer Received

Provider receives retainer funds, which may be applied to future invoices.

03

Services Commence

Work begins according to the agreed scope and schedule.

04

Final Reconciliation

Complete final billing, return unused retainer amounts, and archive records.

Common mistakes to avoid when preparing the agreement

Vague scope language that invites disputes and unplanned billing for additional work.
Failing to state whether the retainer is refundable or credited against fees.
Using inconsistent party names or abbreviations that hinder enforcement or payment processing.
Neglecting to include data-handling requirements when sensitive financial or personal data is exchanged.

Key risks and consequences of errors

Breach Liability: Contractual damages may arise if obligations are not met.

Late Payment: Late fees or suspension of services may apply per contract.

Invalid Signature: Improper signing method can raise enforceability questions.

Data Exposure: Insufficient controls may trigger regulatory obligations.

Tax Treatment: Misclassified retainer fees affect revenue recognition and tax reporting.

Regulatory Noncompliance: Failure to meet industry rules creates fines or remediation costs.

Pricing and capability comparison for eSignature options

High-level pricing and feature differences among common eSignature vendors. Use plan details and vendor sites to confirm current terms.

	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 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 about Financial Retained Services

Answers to common execution, enforceability, and preservation questions for retained financial services agreements.

Need help? Contact support

Can this agreement be signed electronically?
Yes. Electronic signatures are enforceable under the ESIGN Act (15 U.S.C. ch. 96) and UETA in most states, provided intent, consent, attribution, and record retention requirements are met.
Is notarization required to make it valid?
Not generally required for standard retained services agreements, but specific state rules or contract types (e.g., certain real estate or power-of-attorney matters) may require notarization.
What happens if a signer disputes authorization?
Maintain strong signer authentication, audit trails, and identity evidence. Disputes may require production of audit logs and communications to establish attribution and intent.
How do I amend an existing agreement?
Document amendments in writing, reference the original agreement, include effective date, and obtain signed consent from all parties to preserve enforceability.
How long must I keep the signed agreement?
Retain for at least 3 years for tax purposes (IRC §6501(a)), longer when industry rules apply; HIPAA requires 6 years for PHI-related records (45 CFR §164.530(j)).
What authentication level is recommended?
Email + SMS is common for commercial agreements; use stronger methods (KBA, multi-factor) for higher-risk financial or regulated transactions.

be ready to get more

Join over 28 million airSlate SignNow users

Sign Now