Management Fees and Invoicing

Harmony simplifies all of your management fee requirements by providing several ways that you can administer fees to your clients.

Within Harmony, you are able to create fee groups which allow you to recognize familial relationships or other groupings and charge accordingly. A family with several accounts and a greater amount of assets overall can be grouped together so that management fees can be administered appropriately.

You are able to build a tiered-structure into your management fee functionalities (such as one which rewards higher investment volumes with lower fees) and have that structure apply to individual accounts or to specified fee groups. Defined fee schedules will save time in your calculations as once values are defined, manual workaround is eliminated. Fees can be generated monthly, quarterly, semi-annually, annually, etc. according to your firm’s preference.

When fee groups and fee schedules are set-up, you can then “run” your management fees. In this process, nothing is posted, but you can view the generated fees. Once reviewed, you can then post those fees with another click of a button.

Once the management fees are run, you will also have the option to create invoices. These files can be exported to custodians and other interested parties (i.e. accountants, lawyers) which you have the option to specify.