Independent financial advisors, fee-only planners, and small RIA owners send invoices when clients pay directly for advice instead of through asset-based fees taken from an account. Typical billables are comprehensive financial plans, hourly planning sessions, monthly or annual planning retainers, one-time portfolio reviews, and specialty analyses such as Roth conversions or retirement income projections.
Create an invoice for payment collection
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Invoice_1001_Client_2026-10-14.pdf
Advisors usually combine several models. Assets under management (AUM) fees, often 0.5% to 1.25% a year, are normally billed quarterly by the custodian and deducted from the account, so they rarely appear on a standalone invoice. Invoices are most common for flat-fee financial plans, hourly work, and planning retainers billed monthly or quarterly. Project pricing is usually tied to complexity: number of accounts, business ownership, equity compensation, and estate or tax issues. Commissions on insurance or annuity products are paid by the carrier and are not invoiced. Whatever you charge must match your signed advisory agreement and your Form ADV Part 2 or state-required disclosure, so the invoice should never include fees that are not in those documents.
| Service | Priced | Typical range |
|---|---|---|
| Hourly financial planning or consultation | per hour | $200-400 |
| Comprehensive financial plan (one-time) | flat fee | $2,000-6,000 |
| Ongoing planning retainer | per month | $200-600 |
| One-time investment portfolio review | flat fee | $500-1,500 |
| Roth conversion or tax-planning analysis | flat fee | $500-2,000 |
| Retirement income projection and Social Security timing analysis | flat fee | $500-1,500 |
| Assets under management fee (for reference, usually deducted by custodian) | percent of assets per year | 0.50%-1.25% |
| Workplace retirement plan consulting for small employers | per year | $2,500-10,000 |
Typical US ranges. Rates vary by region, experience, and job size.
| Description | Qty | Rate | Amount |
|---|---|---|---|
| Comprehensive financial plan: retirement, cash flow, insurance review, and estate checklist | 1 flat fee | $2,400.00 | $2,400.00 |
| Plan presentation and implementation meeting | 1.5 hours | $275.00 | $412.50 |
| Investment policy statement and portfolio review (3 accounts) | 1 flat fee | $750.00 | $750.00 |
| Roth conversion analysis, 2025 and 2026 tax years | 3 hours | $275.00 | $825.00 |
| Total | $4,387.50 | ||
Notes: Fees billed per the advisory agreement dated March 4. Payment due within 14 days by ACH or check. This invoice covers planning services only and does not include securities transactions. Questions about fees: reply to this invoice or call the office.
Ties every charge to the written fee terms your client already agreed to, which also supports your compliance file.
Identifies you as a registered adviser or adviser representative and lets the client verify you.
Shows what the client received, such as a flat-fee plan, a quarterly retainer, or a specific consultation, and which dates it covers.
For hourly work show hours and rate. For flat fees say so. For any percentage fee show the asset value, the percentage, and the period, so the client can check the math.
Clients often review planning invoices against their calendar, and a log prevents disputes about how long analysis took.
Reinforces how you are paid and avoids confusion about conflicts of interest.
Planning clients often pay from bank accounts, so state whether you accept ACH, check, or card and where to send payment.
Flat-fee plans often take half upfront and half at delivery of the plan, while retainers are billed monthly or quarterly, sometimes in advance. Prepaying large fees months ahead can trigger extra disclosure or balance sheet rules for registered advisers, so check your regulator's requirements before collecting more than a quarter or so in advance. Net 14 or net 30 is common. Late fees are less common than in trades, but if you charge one, put it in the advisory agreement. Most advisors accept ACH, checks, and cards, and some allow fee payment from a client's account if the agreement and custodian arrangement permit it.
Your Form ADV brochure and advisory agreement describe how you charge. Invoice exactly that way, and update the documents before changing your fee structure for existing clients.
State the number of meetings, how fast you respond to questions, and whether tax or estate coordination is included. Without limits, retainer clients tend to expand the scope.
Splitting a flat-fee plan into a deposit at the start and a balance at delivery protects you from clients who gather documents slowly or disappear after the data-gathering stage.
A short note before a quarterly or annual billing reduces surprises and chargebacks, and it fits the transparency clients expect from an advisor.
Compliance work, account paperwork, and client emails add up. Review your effective hourly rate on flat-fee engagements each year and adjust fees for new clients.
Most advisors have the custodian deduct them quarterly because it is simpler and gives clients a clear record on their account statement. Some advisors bill AUM fees by invoice instead. Either way, follow your advisory agreement and any custody rules that apply to you.
Yes, many planners collect a deposit and the balance on delivery. Large fees collected far ahead of the work may trigger additional disclosure requirements, so check with your regulator or compliance consultant.
In many states, advisory services are not subject to sales tax, but a few states tax some professional or financial services. Check your state's rules before you decide not to charge it.
Send a reminder, then a written notice referencing the agreement. Many advisors hold the final plan delivery until the balance is paid, which is why a milestone deposit helps. Consider collections only after reviewing your agreement.
Yes, if your hourly terms include preparation and analysis. State this in the agreement and show the preparation line separately on the invoice so clients see what they paid for.
Send a Financial Advisor estimate for approval, then turn it into an invoice when the work is done.
Financial Advisor estimate template