The first step in setting up billing is creating management fee settings. Management fee settings provide a set of fee breakpoints and rates to be assigned to clients, groups, and/or accounts. This section explains the following concepts:
What types of management fees you can create
How many management fee settings each user can create in Morningstar Office, and
Where management fee settings are created in Morningstar Office.
What type of management fee settings can I create?
The table below outlines the four types of management fees you can create in Morningstar Office, and how they are used in billing clients:
| With this fee type | You can charge |
| Flat Fee | A set dollar amount for an account, which can be set up for a client or an account. |
| Total Portfolio Value Tiered Fee | A unique percentage rate, based on account values |
| Security-Based Tiered Fee | A unique percentage rate, based on a security type |
| Performance-based fee | A set percentage of all portfolio gains during a billing period |
How many management fee settings can I create?
You can create as many management fee settings as you like, and apply different settings to different clients, groups or accounts.
Where do I go to create management fee settings?
Management fee settings are created and saved in the Settings library from the Home tab (Home > Settings > Reports, Tax Lot Methods, Transactions, Management Fees).
See Also