Advisors(1) may charge their clients for services rendered either through automatic billing, electronic invoice or direct billing. You determine the advisor fee at the time of the clients registration, and may modify these at any time in Account Management. In the case of fee increases, the client will be required to acknowledge the fee increase with a signature. In addition to the advisor client fees specified, IB will charge its normal commissions to the client.
Specify all client fees on the Manage Clients > Fees > Configure page in Account Management.
Client Fee Templates
Client fee schedules can be applied to accounts individually or can be stored in templates. As an advisor, you can configure fees for one or more client accounts, or set up client fee schedules in templates, then assign the templates to client accounts. The use of templates allows you to easily maintain different fee schedules for multiple client accounts.
If you are a new advisor (i.e., you just opened your IB account), then there will be a blank default client fee template, which you can then configure with your own fee schedule. If you are an existing advisor, your old global fee schedule is now the default client fee template. You can modify the default template but you cannot delete it.
- Only Advisors who are exempt from registration are eligible to open an IB “Friends & Family” account. Registration requirements can vary among jurisdictions. For example, advisors who reside in Canada and charge fees for their services must be registered under Canadian law. Advisors residing in the U.S. may be required to register under either State or Federal law if they meet certain criteria (e.g., total assets under management, number of clients, whether they receive compensation, etc.). YOU MUST RESEARCH THE SPECIFIC REGULATIONS IN YOUR STATE/COUNTRY AND DETERMINE WHETHER OR NOT YOU ARE REQUIRED TO REGISTER AS AN INVESTMENT ADVISOR.