After you have created your management fee settings, but before you can generate billing reports for your clients, you must assign a management fee and a fee methodology to each client, group or account, and you may want to consider how the fees will be deducted from specific accounts.
In other words, you may have created a series of flat fees, tiered fees, etc., but you have not applied these settings to clients or accounts, neither have you determined whether to bill at the client aggregate or individual account level, nor have you determined which accounts are responsible for paying these fees.
These parameters are determined in the Settings Assignments window. This window provides three spreadsheets, displaying the portfolio accounting settings that you have applied to clients, accounts and groups.
In this section, you will learn the following:
how to set a default management fee setting for your practice
what the different fee methodology types are in Morningstar Office
how to apply fee methodologies to clients and accounts
what the different fee allocation options are in Morningstar Office, and
how to apply a fee allocation to a client.