Invoice Requirements for Investment Advisers

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Many investment advisers work as self-employed consultants. This means they do not receive paychecks for their services, Instead, advisers must send invoices to clients listing how much work they performed and how much they are charging. Although there are no laws or professional guidelines that require investment advisers to include specific items on an invoice, most self-employed investment advisers include a few basic things to maintain transparency for fees and services.

Identifying Information

  • Put your name or the name of your company, your address and contact information at the top of the invoice, in the center. Use company letterhead if you have it. Put the customer's name and account number, if applicable, under your information, on the left side of the page.

Date

  • Write the date for each service you provide in the first column of the invoice. This enables the client to clearly see when services were rendered.

Fees

  • The fees you charge go in the second column of the invoice. If you charge flat fees for your services, you must include a short description of the service followed by the price in the third column. For example, "Retirement Planning -- $1,000." Group fixed-fee services together. If you charge by the hour, you must include how many hours you worked on the client's portfolio and your hourly rate. This is often written as a formula, such as "15 hours x $30/hr," followed by the amount your are invoicing the client for the hourly work. If you have different hourly rates for different services, group them together on the invoice.

Percentage

  • If you charge clients based on the value of their investment portfolio, you must include the percentage rate and the total value of their investments on the invoice. This is usually placed in formula form in the second column. For example, if you charge 4 percent of the value and the client has investments worth $100,000, you would enter "4% x $100,000" followed by the amount you are invoicing them in the third column.

Total Amount Owed

  • Add all of the amounts the client owes in fixed fees, hourly fees and percentages. Place the total under all of the amount in the third column. Label it "Total" or "Total Invoiced Amount."

If Payment is Required

  • If you are requesting payment from the client, put the date by which they must pay invoice. If you will take the total owed out of the client's investment account, state that at the bottom of the invoice along with a statement not to send payment. This will ensure the client does not pay twice.

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