Signature Service Account Resources

What you need to know about our premiere fee-based account.

In today’s marketplace, being a fee-based advisor is shifting from a competitive advantage to a competitive necessity driven by the demand for advice, the impending boomer wave, and the expanded role of the advisor. Going forward, there’s every reason to believe that fee-based advice will become the predominant service model among advisors.

The GP Wealth Signature Service Account

A unique fee-based platform

The evolution of fee-based advisory practices has been a positive trend for the advisor and client. As an advisor, your clients can benefit from increased objectivity with regard to investment recommendations, and from the ongoing service provided. In addition to client benefits, fee-based pricing can help you as an advisor create a more productive and profitable practice by growing assets under administration and allowing the ability to serve wealthier clients. Fee-based platforms also encourage “family” account management, allowing advisors to better position themselves for generational investment planning and retention of assets.

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Transitioning to Fees

An Investment Professional’s Guide

Related Information

Fee for Service

There are clear benefits to a fee-based practice, but transitioning requires planning to maximize results and overcome challenges. If you’re thinking of transitioning your practice to a fee-based model, it’s important how you communicate this decision to your clients!

Begin by highlighting the ways your new compensation structure will benefit your clients

It enables you to offer clients a broader range of services, such as retirement and estate planning, with appropriate compensation for your time and effort

  • It provides a transparent and uncomplicated method of compensation and simplifies reporting
  • It may allow clients to deduct fees for non-registered accounts offering an additional tax-planning opportunity
  • Through our Family Pricing Program, we combine all client account assets with those of their spouse or family member in order to pay even lower fees.
  • When clients bundle additional assets like GIC’s and other accounts, they benefit from further fee reductions.
  • It reduces the perceived conflicts of interest that are inherent in transaction-based commission platforms

Your personal relationships with your clients are the root of your practice. Under the GP Wealth Signature Service Account, you and your client may focus on what matters most – building an investment portfolio designed to help them meet their goals.

The GP Wealth Signature Service Account is an exclusive fee-for-service platform that incorporates a process to effectively manage your client’s needs, compete for high end clients and make management fees transparent. With a wide variety of industry-leading financial products to choose from it opens up new possibilities for both advisors and clients. Leverage your full range of expertise and ensure you are compensated for the value you deliver.

6 Key Benefits of a Fee-Based Practice

Professionalism

Your expertise and un-biased advice are seen to have the clients’ long-term financial goals in mind. Having complete transparency for your services allows clients to view your advice as truly objective and impartial

Client-Focused Relationships

When adopting a fee-based model, any perceived conflict of interest could diminish because recommendations aren’t tied to commissions. It takes away the pressure to sell and opens up the door to more opportunities for long-term relationships.

More Assets

Implementing a fee-based model can benefit your clients’ bottom line. As client’s assets under administration grow, it provides the flexibility to reduce their fees, which could encourage them to consolidate their assets with you.

Transparency

When clients pay a percentage of AUA, it enables them to quantify the benefit of value-added services offered such as portfolio reviews, estate planning, debt management, pension issues, etc. It provides a transparent, simplified and uncomplicated method of compensation and simplifies reporting.

Tax Deductibility

Since advisory fees are separately charged, your clients could claim the fees in a non-registered account as a tax deduction resulting in potential savings. Combined with lower fee-based product lines, the net costs for your clients may be lower.

Stable Income Stream

Fee-based practices tend to have more stable income flows because your fee is tied to service provided instead of the amount of transactions performed. As well, the income flow you create will tend to make your practice easier to sell when the time comes for you to retire.

CRA Interpretation Bulletin-Fee Deductibility

Articles

To Fee or Not to Fee

De-commission Mission

Fee-Based Business Up, Pricing Down

Fee-Based Compensation rewards Advisors

In Fee-Based, Be Careful When Discounting

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To obtain access to your accounts, email us or contact us at 1-800-608-7707 ext. 242.

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