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The Templates page lets Brokers, Advisors and Multiple Fund Investment Managers with Separately Managed Accounts (SMAs) view existing client fee templates, create new templates, and edit or delete existing templates.
Client fee schedules can be applied to accounts individually or can be stored in templates. 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.
You create, modify and delete templates on the Templates page. If you are a new broker or advisor (i.e., you just opened your 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 broker, your old global fee schedule is now the default client fee template. You can modify the default template but you cannot delete it.
You are not required to create templates for client fee schedules. You can simply select one or more client accounts on the Configure Fees page, then create a fee schedule for those accounts without assigning a template to those accounts. If you do configure fees for client accounts without assigning a template, the Template column on the Configure Fees page will show Default as the template (even though you have not assigned a template to those accounts).
Brokers can select one of three pricing structures for a client fee template:
If you have more than one saved template, you can mark one of them as the default template. New accounts will automatically be assigned to the template that is marked as the default at the time the client account is opened. If you do mark one of your own templates as the default template, the template named Default remains in the system and the client accounts previously assigned to the named Default template will still be assigned to it.
Advisors get a default client fee template, which they can modify as required. When a client chooses to link to an advisor from the Investors' Marketplace, that client will automatically be assigned the default fees that the advisor has set in the default template. The client has to sign off on the fees before he can move/partition/create a new account under the advisor.
To create a client fee template
The Templates page opens.
The Templates page lists all of your saved client fee templates, if you have any, as well as a default client fee template.
Brokers select a pricing structure:
Advisors will see the following screen for Fee per trade unit:
Here is the same screen with the Stocks section expanded:
Brokers will see the following screen for Fee per trade unit:
To edit or delete a client fee template
The Templates page opens.