How To Use A Solicitor's Agreement for AUM Fees (Tips for Wealth Managers)

It’s not about the money…it’s not about the money…until it’s about the money.

The financial upside shouldn’t be the number one factor in almost any business decision. However, at some point, work needs to be rewarded with some financial upside.

A solicitor’s agreement is a compliant way for a series 65 licensed individual to pay a non-series 65 licensed individual. This is a big deal for a few reasons.

It means if you are series 65 licensed, you can pay CPAs, EAs, attorneys, and other professionals for their client introductions based on the AUM you end up managing as a result.

It also means that if you are not series 65 licensed, you can be compensated by someone who is off the introductions you make to them.

It is important to note that this rule does vary from state to state and RIA to RIA, but it is something to absolutely look into if you have affiliations and partners.

A solicitor’s agreement is just one of dozens of tools and techniques that can help you build win/win relationships. Since 2015 we’ve trained thousands of advisors, accountants, and attorneys how to grow their businesses.