Client Engagement Agreement (College Planning)
Please review this Client Engagement Agreement (“Agreement”) carefully as it sets forth the understanding between you (the “Client” and any Attorney-In-Fact) and The FI Woman, LLC (the “Firm”) regarding the services the Firm will provide you. If you have any questions about the content of this Agreement you should discuss them with us or your legal counsel before you sign this Agreement.
Scope of Service. The Firm will provide a written plan addressing the issues the Client has requested below. The Firm will limit its analysis to those areas indicated. The Client is hereby informed that information regarding specific issues not revealed to or analyzed by the Firm may have a direct impact on the suitability or accuracy of specific recommendations given. The Firm will be available to answer Client questions involving the Client’s financial plan for one calendar month following delivery of the plan; after that time the engagement with the Firm will end, unless earlier terminated under the conditions set forth in this Agreement.
[Select Plan Services Where Appropriate.]
Restrictions involving planning services or investment accounts:
Payment of Fees. The Firm’s planning services fees are assessed on a fixed fee basis and are based on whether the Client prefers a broad-based or modular financial plan. The fee ranges from $49 to $299 per plan. The fee for this engagement is $99, and is due in full upon execution of the agreement.
Under the assumption the Client will provide all requisite documents/information, the plan will be delivered plan within two calendar weeks of payment. Electronic payment is required and will be completed via an unaffiliated PCI-compliant third-party processor with the Client’s prior authorization. The Firm does not accept checks, drafts, cash, money order or similar forms of payment. Firm fees may be discounted at the Firm’s discretion.
Potential Additional Fees. Any transactional or custodial fees assessed by the selected service providers and/or individual retirement account or qualified retirement plan account termination fees are borne by the Client and are as provided in the current, separate fee schedule of the selected service provider. Fees paid to the Firm for its services are separate from any internal fees or charges the Client may pay for mutual funds, exchange-traded funds or other investments of this type. The Firm does not receive “trailer” or SEC Rule 12b-1 fees from an investment company. Fees charged by these issuers are detailed in prospectuses or product descriptions and Clients are encouraged to read these documents before investing. Per annum interest at the current maximum statutory rate may be assessed on fee balances due more than 30 days, and the Firm may refer past due accounts to collections for processing. The Firm reserves the right to suspend some or all services once an account is deemed past due.
Commissions. The Firm does not receive commission payments involving any securities or insurance recommendation.
Performance-Based Fees. The Firm shall not receive performance-based fees for its advisory services.
Investment Authority. The Firm does not serve an account on a discretionary basis.
Termination of Services. Either party may terminate the Agreement at any time, which will typically be in writing. Should the Client verbally notify the Firm of the termination and, if in two business days following this notification the Firm has not received notice in writing; the Firm may make written notice of such termination in its records and will send its own termination notice to the Client in substitute. The Firm shall not be responsible for future advice or planning services upon receipt of a termination notice. If the Firm’s Form ADV Part 2 brochure was not delivered to the Client at least 48 hours prior to entering into the contract, the Client will then have the right to terminate the engagement without fee or penalty within five (5) business days after entering into the agreement. If the Client terminates services after this five-day period, the Client will be refunded based on a per-day prorated basis. The Firm will return any prepaid, unearned fees within 30 days of the Firm’s receipt of termination notice.
Conflict of Interests. The Firm will provide disclosure throughout the term of the engagement regarding any conflicts of interest which could be reasonably expected to impair the rendering of unbiased and objective advice. The Client is under no obligation to act upon the Firm’s recommendations. If the Client elects to do so, the Client is under no obligation to complete these services through the Firm or a recommended service provider/issuer.
Client Representations. The Client represents to the Firm the following and understands and agrees that the Firm is relying on these representations as an inducement to enter into this Agreement:
Multiple Clients. In the event the Client is more than one individual, the Firm is authorized to accept the direction of either party and such direction will be binding on all parties. This authority does not extend to individual accounts (i.e., individual retirement accounts, etc.) unless the Firm receives the account holder’s prior written approval.
Electronic Document Delivery. All documents and information will be electronically delivered to the Client. The Firm does not enter into engagements with clients that do not accept electronic delivery. Such documents and information include, but are not limited to, service agreements, account information, forms, revised advisory firm disclosures and various types of general Client communications. Delivery mechanisms may include electronic mail (e-mail), firm web site, portal, and secure data transmission services. The sending of electronic messages and/or information shall constitute delivery of the information, regardless of whether the Client chooses to read it.
The Client may opt-out of or revoke this consent to electronic delivery at any time by providing written notice to Firm at its main office. The Client agrees to keep a current, functional e-mail address and will update information with the Firm immediately if an e-mail address or any other contact information changes.
Proxy Voting. The Firm does not vote Client proxies. The Client shall be responsible for directing the manner in which proxies solicited by issuers of securities the Client beneficially owns shall be voted, and will make all elections relative to any mergers, acquisitions, tender offers, bankruptcy proceedings or other type events pertaining to Client assets.
Registration. The Firm is an investment adviser registered with the Commonwealth of Pennsylvania. The Firm may register, become licensed or meet exemption to registration and/or licensing in other jurisdictions it may conduct advisory business.
Assignment. The Firm will not assign this Agreement to any other party without the Client’s prior written consent.
Death or Disability. If the Client is a natural person, death, disability or incompetency of the Client will not terminate or change the terms of this Agreement. However, the Client’s executor, guardian, attorney-in-fact or other authorized representative may terminate this Agreement by giving written notice to the Firm.
Disputes. If a dispute, controversy, or claim arises out of this Agreement and cannot be settled through direct negotiation between the Firm and the Client, the parties agree to first attempt resolution via voluntary mediation. Mediation shall end as soon as (i) the dispute is resolved; or (ii) the mediator informs the parties that mediation is unlikely to be successful; or (iii) any party elects, after three days of good faith mediation effort, to end mediation. If the mediation is unsuccessful, then, to the extent not inconsistent with applicable law, the dispute, controversy or claim, including the determination of the scope or applicability of this Agreement to arbitrate, shall be determined by voluntary entering into arbitration pursuant to JAMS’ Streamlined Arbitration Rules and Procedures. Judgment on the award may be entered in any court having jurisdiction. An agreement to arbitrate does not apply to future disputes arising under certain federal or state securities laws. Each party shall be responsible for the cost of its own legal representation at any mediation or arbitration proceeding. The parties agree that the venue for any dispute resolution or legal action shall be in Montgomery County, Pennsylvania, or as close to Montgomery County, Pennsylvania as practicable. Federal and state securities laws impose liabilities under certain circumstances on persons who act in good faith; therefore, nothing contained in this Agreement shall constitute a waiver of any rights that the Client may have under federal and state securities laws to pursue a remedy by other means.
Other Services. The Client acknowledges that the Firm does not and will not practice law or offer accounting services when providing financial planning or investment advice to the Client. The Client understands that none of the fees paid under this contract relate to such services and that it is the responsibility of the Client to obtain such advice if necessary.
Captions and Headings. The captions and headings of the paragraphs in this Agreement are only for convenience and shall not be used in construing or interpreting this Agreement.
Severability. Any term or provision of this Agreement which is invalid or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity or unenforceability without rendering invalid or unenforceable the remaining terms or provisions of this Agreement or affecting the validity or enforceability of any of the terms or provisions of this Agreement in any other jurisdiction.
Entire Agreement; Modification. This Agreement constitutes the final, complete and entire Agreement between the parties and supersedes all prior and contemporaneous understandings or agreements of the parties, and is binding on and inures to the benefit of their respective heirs, representatives, successors, and assigns. This Agreement may be modified only by amendment in a writing signed by the parties to this Agreement, which specifically states that the amendment modifies this Agreement.
Governing Law. This Agreement shall be governed by the laws of the Commonwealth of Pennsylvania.
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Document Name: Client Engagement Agreement (College Planning)
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