The billing items created via the New Billing icon cover one-time events for a client, account or group. You can, however, maintain an ongoing discount for a client or an account. For example, if you charge a 1% annual fee and enter a discount of 25 basis points, that client or account will be charged just 0.75% annually.
Note the following important points about this feature:
The client’s fee methodology determines whether you can apply an ongoing discount at either the client or account level, or both.
If the fee methodology for a client is set to Client setting/Aggregate Balance, then the ongoing discount can be set at either the client or account level. It is possible to enter a discount in both places, so be careful when using this setting.
If the fee methodology for a client is set to either Individual Account Setting/ Balance or Individual Account Setting/Blended Rate, then the ongoing discount can be applied only at the account level.
To apply an ongoing management fee discount to a client, do the following:
Open the client’s record from the Client Management tab.
From the left-hand navigation pane, click the Client Default Settings page.
In the field labeled Management Fee Discount (basis point), enter the number of basis points to deduct from the management fee for the account. For example, to offer a discount of 0.25%, enter the number 25.
To apply an ongoing management fee discount to a given account, do the following:
Open a client’s account. You can do this either from the Client Management or Portfolio Management tab.
From the left-hand navigation pane, click Profile/Settings > Account Settings.
In the field labeled Management Fee Discount (basis point), enter the number of basis points to deduct from the management fee for the account. For example, to offer a discount of 0.25%, enter the number 25.
Click Save. You can now close the account window.
